The Savannah morning news., 1902-06-03
STOCKS AND BONDS.

New York, June 2.--None of the news
developments since the Stock Ex-
change closed on Thursday afternoon
awaited to induce any activity in the
trading. Neither the declaration of
peace in South Africa nor the acute
stage reached in the anthracite strike
awakened any interest in the stock
market either on the buying or selling
side.
There was some early demand for
grain carrying railroads, owing to the
large advance i'll the net earnings re-
ported for April over those for last
year The very light movement of grain.
especially of corn, owing to last years
crop failure, and the promising outlook
for full crop this year gave added
force to this showing. Union Pacific
Burlington, Canadian Pacific, among
the grain carriers and Reading, Lehigh
Valley and Norfolk and Western
among the Eastern lines, show increases
in April net earnings of from $780,
900 to near 100000 The languid re-
Spouse to the peace news was in ac-
cord with the tone of the London mar
ket itself. This was partly attributed
there to the taking up of attention with
the rejoicings over the peace. But
there was undoubted realizing on a
large scale as well on the part of
Spectators who have bought for sew
eral days past in an anticipation of the
peace. This was purely speculative
protit-taking, however, and does not
alter the evident Importance to the
whole financial world of the ending of
the war, the Stoppage of expenditure
unproductiVe from the economic stand
point, and the promise of early renewal
OF abundant supply of money metal
from the South African gold mines.
The reports from the anthracite re-
gion received in Wall street were reas-
surfing as to the success of the COM
panfes in keeping their pumping ma
chinery active and thus preventing
damage to the mines by flooding, in
spite of the response to the strike or
ders on the part of the engineers of the
pump engines. 1t would be a violent
assumption to read any significance in
to-days stock opera tons as a reflec-
ton of general financial sentiment.
There were few open accounts left
open among the traders after the triple
holiday and the light new commitments
were almost entirely among this class
and were largely closed out again Re
fore the end of the day as shown by
the general return of the price level
to that made at the opening. The CON-
viction is general that the money mar
ket must be kept free from extraordf-
nary strains until the outlook is clear
er for the meeting of obligations int
the fall The heavy borrowings abroad,
which must be met, and the probable
ity of en- active trade demand for mon
ey into the interior of the country in
cite to caution until the attitude of
foreign borrowers at the period of re-
newals becomes evident. The whole
problem of course turns largely on the
size of the coming corn crop
Bonds were dull and irregular. To-
tai sales, par value, $3,105,00O. u. S.
rs and old As declined "a and the new
AS u per cent. on the last call.
Total sales of stocks to-day were
270,600 shares. including Atchison, 49,
500; Canadian Pacific 3S,100; Realizing
23,200; st. Paul, 16, 600 Union Pacific,
23,700; Amalgamated Copper. S,4Oo;
United States Steel, $500; do preferred.
600.