The Savannah morning news., 1902-04-05
STOCKS AND BONDS.

New York, April 4.-To-days stock
market gave unmistakable evidence of
substantial recruiting of the specu-
lative element. The movement was a
good deal of a mystery, both as to
its motive and as to the identity of
the operators. Stock market gossip
attributed it to the same group of
Western capitalists to which many re-
cent movements have been attributed,
and which has been supposed to be
concerned in the present large specu-
lative operations in the grain mar
kets.
The days operations were on a far
larger scale than anything in the re-
cent history of the stock market The
dealings in st. Paul and Union Pacific
were wildly reminiscent of the days of
the boom of last year. If the deal
ings In these stocks are added to those
in Louisville and Nashville. and In
Southern Pacific, it will be found that
considerably more than one-third of
the days aggregate transactions are
accounted for. 1t was not until late
in the day in fact that much impress
sion was made upon other portions of
the list. Such stocks as the New
York public utilities, New York Cen
trail and Pennsylvania were then
brought forward with spasmodic ad-
vances. In the final hour selling to
take profits made heavy inroads upon
prices and reduced all of the prin-
cipal gains to fractional limits. The
market closed dull but steady. There
was no news to account for the sud
den demand for stocks. although rum
ors were plenty pointing to a fresh
reimbursement of control in the trans
continental railroad system. Rather
the movement seemed based upon an
assumption that the time of doubt
and uncertainty over the outcome of
the year was practically past with
the largest requirements upon the
money market supposed to be met
and with the crops assured of a good
condition after the winter to start the
season with. To account for any such
total of sales as those recorded in the
principal active stocks to-day. allow
ance must be made for the sale and
resale many times of identical hold
ings. The general reaction at the end
of the day also points to the tentative
character of the speculation. There
was very active realizing among many
of the specialties recently advanced
conspicuously Sugar and Colorado Fuel
Neither was there lacking the wide
advances in obscure specialties which
nave recently characterized the mar
l1et. There was no change i'm the sit
uation of the money market except
as indicated by loss of cash by the
banks during the week of over SO, 0OO.-
600 to the sub-treasury, which is off
set by a gain on the interior move
ment of less than million dollars.
The tirmness of sterling exchange and
the further decline in Paris rate of
sterling noint to gold exports next
week. The local money market was
quiet however. and the forecast of
the bank statement made very little
impression on the stock market
There was an active demand for
bonds for which there was a good
open market all day. Total sales,
par value $3.50. 900. United States
bonds were unchanged.
The total sales for the day were l.
1S4.200 shares, including Atchison. 26.-
500; Baltimore and Ohio. 22700: Rock
Island, 5000: Colorado Southern, II 400:
do second preferred, Il. 400: Erie, 1900