The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-05-15
STOCKS AND BONDS.

New York, May 14.-To- days small
changes in prices of stocks are mostly
gains, but the firmness of the market
was passive and had no positive ele-
r1ent in it so far as could be perceived.
The trading fell near to the point of
stagnation and the days total trans
actions were smaller than for many
months. Union Pacific made some show
of strength and was far in the lead
of all other stocks in point of activity.
Gossip was in circulation of an intend
ed increase in the dividend rate on the
stock.
Action on the dividend is not expect
ed until July. and it is natural to sup
pose that the course of the winter
wheat and corn crops between now and
then will have a bearing on the divi-
dend action. The course of those crops
is just now the subject of greatest I'M
certainty in speculative circles and this
uncertainty was a large influence in
the speculative halt in the stock mar
ket, which took place to-day Anoth-
er cause was the anthracite miners
convention, which was in session at
Hazleton to decide whether to make
the conditional strike of the miners
permanent. No light was thrown on
this question before the close of the
day, but the coal stocks shared gem
orally in the firmness of the market.
Another feature of the day was the
wide recoveries scored by some of the
high priced stocks which fell violently
in the liquidation Monday. There were
other high priced stocks in the inactive
list which told to-day at wide declines
from the previous sales.
The money market was much quieter
to-day and there was no seeming diff
ficulty in obtaining call loans at per
cent or under One cause of this was
the much lighter demand for accom-
mediation. The recent high rate has
also had the effect of bringing sup
plies. The process of borrowing in for
eign money markets was continued to-
day as indicated by the further de-
cline in the sterling exchange market.
The completion of some large syndi-
cate transactions and bold subscrip-
lions which have been in progress re-
Gently had its part in relieving the
money market and tightening the pres
sure to sell stocks. The sub-treasury
requirements on the money market are
much less than last week, partly ow-
ing to increased pension payments.
But there were large deposits of law
full money last week for the retire.
n1ent of bank notes has been worked
off practically, and some of those made
for June have been withdrawn. This
check to the bank note retirement will
relieve the money market of a drain
to some extent. 1t is worthy of note
also that the governments surplus
revenue this month is only about ST.
100000, compred with almost $4,000, 900
for the corresponding period of last
year. Receipts from internal revenue
thus far this month are some $780,
900 less than for the corresponding pc
Rod of last year.
Bonds were dull but firm. Total sales,
par value, $3,270.O0O: United States
3's declined a per cent. on the last
call.
Total sales of stocks to-day were
go, 900 shares, including Atchison, L.
400 Canadian Pacific, 12,700; Chicago
and Great Western. 100; Manhattan,
1880; Missouri Kansas and Texas.
1900: Reading, 6,4OO: st. Paul. 14,20O
Southern Pacific, 5000; Southern Rail-
way, $500; Southern Railway prefer
red, 1900; Union Pacific. $4,000; Cop
per, IA, 900 Wabash. 14,300; Colorado
Fuel and Iron. $500: United States
Steel. 1888; United States Steel prefer
red. 800: K. S. Southern. 1890.
New York stock and bond List.