The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-03-14
STOCKS AND BONDS.

New York, March 13.-Io-day STOCK
market was again an affair of special
ties and the movement in the active
leaders of the market was exceedingly
confused and irregular and presented
many direct reversals of the recently
prevailing movement in special stocks
The stocks Of the largely capitalized
railroad systems of the country which
assume the leadership of the market
in times of general speculation were
neglected and almost immovable. In
such stocks as Union Pacific, Southern
Pacific Atchison, St. Paul and Mis-
souri, Pacific, as well as many other
usually active stocks, the outside
range for the day did not cover more
than half a point and in some only a
quarter. Yet the large dealings in
some of the largely capitalized indus
trials and in railroad specialties of
small capitalization there was suf-
f1cient activity to give the market
some appearance of animation.
Amalgamated Copper continued the
most active stock in the market and
the acute weakness of yesterday was
overcome by vigorous support. After
ruling a fraction below last night dur
ing the early part of the day it rose
above in the afternoon and finished
with a net gain of a point. Sugar took
Amalgamated Coppers place in the
column and suffered an extreme de-
cline of nearly 3 points, but, recovered
all but a fraction of it. The varying
opinions on the chances of Cuban SUI
gar for a tariff concession were the
speculative material in this. stock
Manhattan was very active and ad-
vanced strongly. An uncovered short
interest was reported to be a factor
in this advance, but reports were cir
culated of large earnings. Other
strong points were North American,
the International Silver stocks and a
number of minor specialties without
any explanation.
Strength in the soft coalers was due
to the belief that agreements had been
reached with the miners. The anthra-
cite roads, on the other hand, reflected
recurrence of uneasiness over the
labor question, due to reports of a
threatened strike in the Lackawanna
company's mines. Reports of labor
controversies in various parts of the
country were discussed with interest
and were a somewhat depressing fac
tor generally. The anthracite roads in
consequence were interrupted in their
advancing tendency of yesterday. The
advance in st. Louis Southwestern
preferred was due to the announced
success of the plan for the conversion
of the company's second income bonds
Trade reports from the Iron and Steel
Industry were responsible for the adj
vance in the stocks of companies in
that trade, in which the United States
Steel stocks participated only moder-
ately, owing to the discussion of the
proposition for a bond issue for re-
tirement of part of the preferred stock
and for acquiring additinal properties
While special stocks were advancing
others were affected by profit-taking
sales after having enjoyed recent SUBJ
stantial advances.
Call money went to per cent. again
to-day, but the unruffied calmness Of
the market indicates some hidden pro-
cess of relief going on against the de-
pletion of reserves. Bonds were irreg-
ular. Total sales par value $3,340, 900.
United States new as registered de-
clined q and the old As u per cent. on
the last call.
The total sales of stocks to-day were
$4,000 shares, including Colorado
Southern, 14.SOO: Erie, $500; Manhat-
tan, $4,000; Mexican Central, 14.30O:
Mexican National, 1900: Missouri Pa
ci1c, 300; Pennsylvania, 1850; Read
ing, 25,6O0; Reading second preferred,
1900; st. Paul, $500; Southern Pa
ciiic, $500; Southern Railway, 800;
Southern Railway preferred, 1850:
Union Pacific, 400; Amalgamated
Copper. $1,000; American Car and
Foundry, 6,400; Brooklyn Transit, 49,
300; North American, 14,60O: Sugar, ST.
900; Tennessee Coal, 5000; United
States Steel, 14,100; do preferred % 100.
New York stock and Rond Lit.