The Savannah morning news., 1902-07-10
STOCKS AND BONDS.

New York. July 9.-The selling of
stocks to-day was obviously by the
speculative element, which bought
previously on the prospect of an ad-
vance, their motive being, of course,
to take profits.
Whether any actual developments
! bearing upon values were considered
is not clear. But there were one or
two. considerations which might be
construed against further advance
IN prices. The marking up OF ST
Paul ana New York Central, together
with some of the soft coal stocks that
We're strong yesterday, is perhaps suf-
fciently explained as a measure of
manipulation to facilitate the taking
of profits elsewhere. Some of the
high-priced industrials worked higher
on what had the appearance of in
Yestment demand. The proposed suit
to enjoin the payment of a dividend
! on United States Steel common came
in for some vigorous denunciation as
to its motives by officials of the cor
poration, and the advance in the stock
was apparently intended as a notice to
opponents of purpose to protect the
stock In the market
OF the factors making for the SELL
ing side, the continued heavy move
| ment of currency TO Chicago was an
important one. Including a deposit of
$500, 900 at the subItrehsury for tels-
graphic transfer to Chicago and ship
ments by express, it Is said that about
million and a half went to that point
from here to-day. The exigencies of
the corne rim the July option in corn
are supposed to account for this heavy
movement. The large commitments
believed to be held in the stock mar
ket by the mantgers of the corn cor
ner occasion some uneasiness over
the possible results of a failure of the
corn corner such as have accom-
panied many similar attempts in the
past. The days weather news was
considered to make a bad showing,
also for crop prospects, too, much rain
being Indicated.
The failure to advance the Louisville
and Nashville dividend rate to a s
per cent. basis was disappointment
to some SPECTATORS who had acted on
tips" but there was no general ex-
pectation of an increase AS was cx-
pected after yesterdays exchange
market movement, no export engage
ments of gold were announced. The
unusually heavy government disburse-
ments are favoring the money mar
ket. The prolonged advance In Mis-
souri, Pacific made the weight of real-
izing in that stock particularly heavy
and the bears made a renewed attack
and also on Western Union and Sugar
the former on the termination of con-
tracts with Pennsylvania Railroad
and the latter on the large capital en-
barking in opposition. Amalgamated
Copper was sold on account of the
declining tendency of raw copper.
The bond market was rather quiet
and irregular. Total sales, par value,
$2,275,000. United States bonds un-
changed on the last call
To-day's total stocks sales were 1884,
900 shares, including Atchison, Is, 100;
Chesapeake and Ohio, 29.800 Colorado
Southern, 100; Colorado Southern
second preferred, 1900; Illinois Cen
trail. $500; Louisville and Nashville,
12,20o; Missouri Pacific, AZ, 700; New
York Central, 25,5O0 Norfolk and
Western, H. 400; Pennsylvania, Al 800:
Reading, 10,500; St. Paul. 52.70O; South
ern Railway, 1900; Union Pacific, g.
500; .Amalgamated Copper. II, 400; Col
orado Fuel. 1900; Sugar. 7.400; United
States Steel, 1860; United States Steel
preferred, 1900; Western Union, H.
700.
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