The Savannah morning news., 1902-04-24
STOCKS AND BONDS.

New York, April 2S.-To-day's trans
fers of stocks again reached an ag
gregate of over 100000 shares, but
the animation of the speculation is de-
cidedly deteriorated from the nearly
100000 share business of Monday.
There was great variety in the deal
ings to-day, but the undertone of the
market was decidedly heavy all day,
and the advances in some portions of
the list were insufficient to clear up the
tone. The weather news from the
Western grain regions was the central
topic of discussion. Prices were sue
cessfully turned upwards in the open
ing dealings, the grain carriers shar-
ing fully in the advance In the case
Z of Atchison the opening rise was IA,
but half an hour later when trading
began in the grain markets with
prices strongly advancing, these stocks
gave way. The government weather
man was sufficient evidence that yes
terdays hopeful estimates of sufficient
rain to undo any damage already done
were not we'll founded. The strong
rise in the corn market also helped to
depress stocks, Notwithstanding the
unlikelihood of any accurate knowledge
at this time of the chances of the corn
crop. But the evidence at hand from
of last years corn shortage is so inn
pressive that the speculative mind will
evidently be very sensitive to the pros
pect of the coming crop of that staple.
There was a renewal of the recent
active demand for the coalers the
Readings again taking the lead on the
superstition that the settlement of the
wages dispute is imminent. When,
however, it was perceived that the
1orf h in, 1Se oft -
had little effect in checking the drib-
bling liquidation of Western Railroad
stocks. the movement of the coalers
ceased and prices reacted there.
Efforts were made on behalf of the
large speculative leaders to convey the
impression that the sharp reaction in
prices has been connived at and fur
thered by manipulation with the pur-
pose of shaking off weak speculative
followers in preparation for a, renewed
and stronger upward movement. The
market in fact showed the stronger
technical position resulting from the
liquidation of the weaker class of light
ly margined accounts. The pressure
to sell was much less urgent, and the
fall in prices not so5violent, but the
selling was no less persistent, and the
downward tendency noadess constant
The strength of the sterling exchange
market called renewed attention to the
possibility of gold exports, and revived
discussion of the present heavily ex-
panded condition of credits.
The provision to be made for the
great steamship merger, the coming
stock conversion by the United States
Steel Corporation; the provision for
the purchase of the Louisville and
Nashville, and the subscription to the
Pennsylvania bond issue for $50, 0O0,-
900 indicate some of the heavy require
ments upon the present narrowed re-
sources of the money market An in
cident of the day was the sharp rally
in sugar of Az on the expressions of
confidence from Washington that an
agreement would be reached on the
Cuban reciprocity BILL. The stock
closed with net gain of 3A. Anal
gamated Copper. Tennessee Coal, the
cotton oil and Notwithstanding Chem
ical stocks, international Silver pre-
ferred and a number of minor spe-
cialties were strong. There was
strength also among a number of
minor railroad stocks on the ground :"
Consolidated Tobacco as were strong
and active. Otherwise the bond mar
ket was irregular. Total sales, par
value. $4,79O,0O0. United States bonds
were all unchanged on the last call.
Total sales of stocks to-day were
1,zUU,oOU SnareS, including: AtchiSon,
$4,000; do preferred, $500; Baltimore
and Ohio, 14,400; Canadian Pacific, 49,
500 Chicago and Great Western, $500
Erie, 41,300; do LIST preferred, $500; Illi-
nois Central, 5000; Louisville and
Nashville, $500; Manhattan, 14,90o:
Mexican Central, 500; Missouri Pacific,
31,600; Pennsylvania, 1920; Reading,
100000: do LIST preferred, 1890; do I'd
preferred, $500; ST, Paul, 32.100:
Southern Pacific. Al, 100; Southern Rail-
way, 21,700; Toledo. st. Louis and
Western preferred, 100; Union Pacific,
$500; Wisconsin Central, 1900: Anal
gamated Copper. S6, 6O0 Brooklyn, IA
600; Colorado Fuel and Iron, 23,60o:
Consolidated Gas, II, 400; International
Power, 6.2O0; Republic Steel 25,5O0;
Sugar, 49,100; Tennessee Coal and Iron,
$4,000; United States Steel, 13,700 do
preferred, 5000; American Locomotive,
14,S00; do preferred, 1900; Kansas City
Southern, $500; do preferred, 1900.