The Savannah morning news., 1902-09-04
STOCKS AND BONDS.

New York, Sept. 3.-The course. of
the stock market to-day was in mark
ed contrast to that of yesterday, in
that 1t was governed largely by diff
ferent influences, although Reading
and some of the other coalers were
again we'll to the front. Opening with
a renewal of the previous days bull
ish enthusiasm and strength, the list
received what at first, Threatened to be
a serious setback on early news of the
accident to the presidential party. Ru-
n;ors were more conflicting and the
list underwent a general recession.
As soon AS the extent of the disaster
became known the market recovered
the greater part of it's strong under
tone, but for time there was mark
ed decrease of operations. Later, how
ever, the carly activity was resumed
and the day as a whole was the larg-
est in volume Of the present season.
The last hour witnessed an extraor-
binary squirt in Pennsylvania, that
stock selling up to 1881 net adj
vance of 5 points on transactions in
Volving over 100000 shares. The ad-
vance in this stock was. accompanied
by rumors crediting the road with con-
troll of Reading. Another reason ad-
vanced in explanation of Pennsylvan-
showing made in the company's reports
for the first seven months of the year
Net earnings on the lines directly OPP
Grated by Pennsylvania for the period
named show an increase of over 81, $780,
600, while the company's- lines west of
Pittsburg and Erie show an increase
OF more than $1,500,000.
Interest continued to center largely
in Readings, and the common opened
with a material advance on heavy
transactions. The gain was almost en-
tirely wiped out as~soon as the Pitts
field incident became known. Suisse
quently, however, the stock more than
recovered its loss, selling up to 78h,
closing at 761s, and registering a net
gain for the day of more than point,
on transactions aggregating over 1885,
600 shares. The other Reading issues,
on moderate trading, made fractional
gains. There were no material changes
in the other anthracite stocks except
New Jersey Central, which lost
points.
In the soft coal group Norfolk and
Western was the feature, stock scor-
ing a substantial gain on fairly heavy
trading. Pittsburg, Chicago, Cincinnati
and st. Louis on very light transac-
tons made net gain of over points
and Cincinnati and Ohio, in which ep-
erations were quite extensive, also
closed at a material advance. Labor
Commissioner Wright's report en- the
strike situation excited little comment.
In many quarters the report was re-
garded as distinctly favorable to the
miners. The trading in Reading had
every indication of competitive buy
ing, and reports of triangular con-
test involving Pennsylvania, Morgan
inf
Pennsylvania sharp advance toward
the close, already referred to, gave
color to these rumors. but nothing tan
gible came from any authoritative
quarter.
The bond market continued very ac-
tive and showed some irregularity On
profittaking. Total sales par value
s4.1S5,000. United States bonds un-
changed.
Total sales Of stocks to-day were L.
49S,600 shares. including:
Atchison 36,6o0 do preferred II 500:
Baltimore and Ohio, 1920; Cincinnati
an1 Ohio 73,600; Chicago Great West
ern 5.400; Erie 81, ZOO; Illinois Central
23,900; Manhattan 32,7O0; Mexican Ma
tional S,400: Missouri Pacific 76,40O.
Missouri, Kansas and Texas $500; do
preferred 5000; New York Central 49,
200; Norfolk and Western 81, 300; On
tario and Western, 5000; Pennsylvania
10s.700; Reading 2sS, 300; do first pre-
ferred 1850; do second preferred 49,
900; ST. Paul 1920: Southern Pacific
5S.400: Southern Railway $4,000; Texas
Pacific 27.6O0: Union Pacific $500.
Amaleamated Copper $500: Colorado
Fuel 1890; Peoples Gas 1920; RE-
public Steel 1900: Sugar $500; Tennes-
see Coal 1890; United States Steel T.
600.