The Savannah morning news., 1902-09-13
STOCKS AND BONDS.


vanced to 90 per cent. shortly before
the close of to-day's market, and the
list. which had been heavy through
out, closed with marked declines.
Opening prices were lower, though
mostly fractional. but the unsettled
tone which characterized the days
comparatively moderate transactions
was apparent from the outset. Lon
don came lower in the absence of New
York support though later there was
considerable improvement and a bet
ter demand for internationals in that
market. Missouri Pacific was the chief
sufferer in the early trading. selling
off about points and making no re-
coVery.
The decline in gers and Pa
cities was in part ,.uf To reports of
frost in the corn belt The selling of
Baltimore and Ohio was accompanied
by reports that insiders had discount
ed the extra stock issue. St. Paul re-
ceived better support soon after the
opening but in the main stocks which
then held their own were of the So
called pool class. There was no great
pressure against any particular stock,
but the early high rate for call money
10 per cent.-coupled with reports
that some of the banks were showing
discrimination in the matter of col
lateral, added to the increasing stead
mess. Louisville and Nashville and
Rock Island were among the few
stocks that reflected firmness at this
juncture, the latter selling ex-dividend.
Trading received another check in the
second hour when call money advance
ed some more, but no great amount
of long stock seemed to be offered.
Nevertheless, it was clear that num-
Der of weak accounts were shaken out.
There was a rally in the granger
group on reports that the frost had
done little damage, and at the same
time Manhattan, also selling ex-divi-
dend, was being absorbed in small lots
on rumors of closer relations with New
York Central The United States Steel
shares were heavy, with little or no
evidence of support but the strength
of Union Pacific and st. Paul was
suggestive of pool support, while the
weakness of Chesapeake and Ohio was
attributed to inside selling A further
reactionary movement set in during
the second hour of the afternoon, when
money advanced to Is per cent. De-
clines at that time embraced practi-
cally all the active issues and brought
prices to the lowest level of the day.
Maximum declines of per cent. were
registered by st. Paul, Missouri Pa
cific, Norfolk and Western and North
west, with 81 point decline in Louis
vile and Nashville, and even greater
losses in the specialties. Announce
ment of the 20 per cent. rate in call
money was the signal for another sell
ing movement, but partial recoveries
were made by st. Paul and Louisville
and Nashville.
The final dealings brought some
more liquidation and the closing was
heavy and unsettled In addition to
the net losses already mentioned, net
i 1
by Atchison, Baltimore and Ohio Chi
cago and Northwest. Minneapolis. St.
Paul and Sault ste Marie preferred,
North American, Reading second pre-
ferred, Westinghouse Electric, New
York Air Brake, General Electric, Vir-
ginia- Carolina Chemical issues, the
Copper stocks and numerous others.
Net gains were the exception and
mostly fractional.
The bond market was less active to-
day and reactionary in sympathy with
the depression in stocks. Total sales.
par value, $3,505, 000 United States
bonds were all unchanged on the last
call.
Total sales of stocks to-day were
u.s. 800 shares, including Atchisoh, A.
900; Atchison preferred, $500; Balti-
more and Ohio, 81 900; Chesapeake and
Ohio Il, 400; Chicago and Great West
elll, o'OuV, lihiloiS CeHlIdi, LOW, ERIE,
1880; Louisville and Nashville, 9,10O;
Manhattan. $500; Missouri Pacific, Co.
200; Norfolk and Western, 10000; On
tario-and Western, 1900; Pennsylvania,
$4,000; Reading, 42400; Reading first
preferred, $500; Reading second pre-
ferred, 1900; St Paul, $500; Southern
Pacific, 4S,4OO; Southern Railway. a.
200. Texas and Pacific, $500; Union
Pacific, $4,000; Amalgamated Copper,
Il 500; Brooklyn Rapid Transit $500;
Colorado Fuel and Iron. 1900; Repub-
lie Steel, 6,400; Sugar, 1000; United
States Steel 32.500; United States Steel
preferred, 5000; Western Union, 14,5OO.
New York stock and Bond List.