The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-08
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STOCKS AND BONDS.

movement VI SlOChS WHICH Hdu aILdlnC0
some Roadway during the latter part
of last week did not prosper to-day in
face of the rapidly contracting supplies
in the money market.
The stocks, which were made the
leaders of last weeks movement were
the chief sufferers from the selling.
The total volume of dealings fell con-
siderably below the million-share-
mark touched on Friday, but consider
ably more than one-third of the tota;
was made UP of st. Paul, Louisville
and Nashville and Union Pacific The
selling cost st. Paul 2s Louisville and
Nashville rs and Union Pacific tx.
This course of events naturally de-
tractad somewhat from the interest In
the conjecture of the source of the
heavy demand for those stocks and the
community of interest and merger pro-
ject which might be aimed -
Wall streets suspicion of last week
that the movement was speculative
maneuve~ to invite a, following in the
general market was strengthened. The
rather abrupt reaction in these stocks
as result Of the developments in The
money market was chiefly remarkable
from the fact that those developments
were generally admitted to be impend-
ing last week. The answer made TO
this was that the abundance of capital
in the West would relieve the situa-
ton and give free scope to the buying
of stocks. But when the call money
rate shot up to Z per cent. this after
noon, the highest point of the season,
this assurance did not avail to prevent
throwing over of large amounts of
stock. The foreign exchange market
was apparently not in the least affect
ed by the outgo of $2,500,000 gold, show
ing that the consignment is in pay
ment of foreign obligations, as has
been the case with preceding ships for
some time. ICH
AS the bank statement on Saturday
showed the surplus reserve down to ST.
SAG, 525, it will be perceived that to-
days demands were sufficient to wipe
out the surplus. All departments of the
list were affected and the days losses
run quite generally from 102 points
and over that in exceptional cases.
Amalgamated Copper ignored the gen.
eral tendency of the market, as it did
when the market was going up, and
rose briskly at the last of the day 10
IL over last week. Other firm spots
were in the local fractions, some of the
express stocks, Westinghouse Electric,
Chicago and Alton, the Wisconsin Cen
trail stocks, the Duluth South Shore
and Atlantic stocks and some minor
markets gave some intimation that last
weeks stock market assumptions of
the safety of the winter wheat crop
were somewhat premature. But the
furry in the money market was the
overshadowing influence and the mar
ket closed active and easy and gener-
ally at the lowest.
A few of the newer bond issues were
advanced, but the general tendency
was slightly easier in sympathy with
stocks. Total sales, par value, 81, 405,-
900. United States bonds were all I'M
changed on the last call.
Total sales Of stocks to-day were 617,-
100 shares, including Atchison. 1900;
Chicago and Alton. 10000; Louisville
and Nashville, $500; Manhattan, 49,
400; Mexican Central, 1.400; Pennsyl-
vania, 10,600; Reading. 1880; Reading
second preferred, $500; st. Paul, 49,
100; Southern Pacific, 12,100; Southern
Railway, 4,S00 Union Pacific 1890:
Wisconsin Central, 1900; American
Smelling and Refining, $500; Brooklyn
Rapid Transit 1902; Colorado Fuel
and Iron, 1880; Sugar, $500; United
States Leather, $780, United States
Steel, 1855; United States Steel pre-
ferred, 2,075.
Nav YorL stack and Rond List