The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-05-24
STOCKS AND BONDS.

New York, May 23.-To-dayS stock
market was dull to the point of stag
nation. The higher prices in London
induced an improvement at the open
ing here, but it was lost through mere
inanition. Until the last hour there
was hardly enough motive power to
show any dicretion in the movement,
with the exception of some special
stocks.
There was quite an active demand
for the National Lead stocks, due to
the expectation that the company
would benefit from a proposed COM
hination in an allied branch of the
trade. The American Linseed stocks
rose on rumors of a combination of
the vegetable oil interests. The firm
ness of Amalgamated, Anaconda and
Smelling was due to the continued
reports of the widening demand for
raw copper. both here and abroad.
The improvement in the copper trade
is an influence extending far beyond
the stocks Immediately affected. The
allegation is made that the recent
heavy exports of copper are going
abroad, in part at least, as stocks are,
to get the benefit of the cheaper money
rates over there for holding purposes.
There was a renewal of the recent
strength in Canadian Pacific, but when
the advance reached 1% it halted. Pa
cific Nails az point rise was unex-
planned. The George A. Fuller stocks
made wide advances and the New
York public utilities and Colorado Fuel
developed late strength, the latter ris-
ing IN
The appearance of the preliminary
Figures of the weeks movement of
currency awakened more animation
than at any time during the day. Out
side of those stocks already mentioned
the effect was not notable except in
st. Paul, Union Pacific and Atchison.
The currency figures indicate a net
gain by the banks on the interior
movement of nearly 5000, 900, which is
supplemented by a gain of sub trea-
sury operations of 1865 900. Bankers
are generally agreed that there has
been a further heavy contraction of
loans and reduction. of deposit liabili-
ties. 1t will be seen that the promise
is for an extremely favorable bank
statement.
The response in the stock market
was very moderate. There was trans
ferred to-day through the sub-trea sury
100000 to New Orleans, following the
like amount transferred yesterday
There was call to-day for a 25 per
cent. instaliment of cash on subscrip-
tions to the steamship merger syndi-
cate, which calls for $12, 500, 900. of
which about 60 per cent is payable
in New York. The transaction did
rot cause ripple to-day in the local
money market The determined wait
ing attitude of the market seems to
be due to the uncertainties of the
| coal strike and to approach of the crit
| ical period of the corn crop. The lat
ter is receiving more and more at
tention every day and it destined to
have a greater influence on specula-
ton than any other one factor.
The bond market was dull but firm.
! Total sales par value 81, 290, 000 United
! States bonds were all unchanged on
the last call.
Total sales of stocks to-day were
35S.lO0 shares including Atchison o.
200; Canadian Pacific $780, Missouri
Pacific $500: Pennsylvania ). 300; Read
ing 1850; St Paul 2O4O0; Southern
Pacific $500; Southern Railway 1 800;
| Union Pacific 3O,1O0; Copper 81 ZOO:
Smelling 10000; Brooklyn Rapd
Transit 20,100; Colorado Fuel and Iron
| 100; Pressed Steel $500: Sugar 10. 200.
United States Steel 10000.
/