The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-03-15
STOCKS AND BONDS.

New, York. March 14.-There were
some remarkable movements to-day
among the obscure specialties, but the
important representative stocks were
neglected and practically immovable.
Some important developments in the
money market situation helped the
stock market to face with equanimity
the forecast of movement of currency
of the week which, on its face, prom
ised to wipe out entirely the slender
surplus reserves of the banks. The
rise in the call loan rate above 4 per
cent. the highest of the year, indi-
Gated the pressure upon the money
supplies. An announcement during the
morning Of an additional deposit of
100000 at the sub-treasury for trans
fer to San Francisco emphasized the
influence of the earlier declines report
ed.
Altogether, the banks were shown
to be losers to the extent of upwards
of 900 since the last bank state
ment, including to-days tansfer to San
Francisco. Last weeks bank state
rnent. it will be remembered, showed
surplus reserves of only $395S, 425. Dur
ing the day there came very heavy Of
ferings of government bonds at the
sub-treasury for redemption. This was
the direct result of the withdrawal of
the governments offer to redeem bonds
after tomorrow. The total redemp-
tions to-day ran up to $2479,554, and
as the payments are in cash, they will
show for one days average in to-mor-
rows bank statement. Consideration
was also given to the fact that a
Standard Oil dividend of 500 per share
is payable tomorrow, involving the
disbursement of $40, 000, 600 which can
hardly be without effect in the money
market The increased pressure for
money to-day also led to renewed bor-
rowing in foreign markets, under which
the exchange rate yielded a fraction
of other developments, the settlement
of the Boston strike was favorablv in
tsrpreted, although some uneasiness
still prevails concerning the settlement
OF the yearly terms with the anthra-
cite miners.
The increase in the Southern Rail-
way preferred dividend had been ex-
pected with great confidence, but the
stocks of that company advanced on
the announcement which also served
to check the selling movement in the
general list There were some very
sharp relapses among minor stocks,
which have been recently advanced on
rumors of consultations and absorp-
tons, but there We're other strong
points on similar rumors. The VIC
lent advance in the Westinghouse Elec-
lIlC stOCkS on ugnt transactions had
nothing in the way of news to account
for it. The Gould group of stocks led
by Manhattan. were in notable de-
mand at striking gains
The Wabash debenture BIS were ac-
tive and strong. Otherwise the bond
market was irregular Total sales.
par value, $3,995.OOO. United States
new as declined u, the old As Il, and
the 5s Y per cent. on the last call
Total sales for the day were 472, 700
shares, including Canadian Pacific, g.
900; Colorado Southern, 14900; do I'd
preferred, S.4OO; Erie, $500; Manhattan,
$500; Missouri Pacific, II 400; Pennsyl-
vania, 1880; Reading ID $500; st.
Louis and Southwestern preferred, s.
500; Southern Pacific, 14,1OO; Southern
Railway, 31,10O; Southern Railway pre-
ferred, 22,100; Union Pacific, $500; Wa
bash, 5000; Amalgamated Copper, o.
700: American Car and Foundry, $500:
American Linseed, $500: do preferred.
5000; Brooklyn, 11,SO0 National Lead.
$500; Sugar, 1900; United States Steel,
1850; do preferred, 20,10O.