The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-01-16

top level, but dullness and wavering
were still very manifest.
The demand from the short interest
was a palpable influence in the rise
Evidences of support were seen early
in the day in some of the stocks which
were chief targets for bear attack,
notably in Union Pacific and other
rans-continentals. This served to in
timidate the bears, although they re-
newed their selling on advances. The
fact was manifest, however, that more
urgent selling had been disposed of on
previous days, and the efforts of the
bears induced little liuidaton. A
number of Incidents aided the bulls in
turning the market against their OPP
ponents. There was a striking demon
stration in sugar on the strength of
the hearing accorded by the Ways and
Means Committee at Washington to
advocates of a reduction of duties on
Cuban sugars.
The increase in the dividend rate
from 2 to per cent. on New York,
Chicago and st. Louis second pre-
ferred relieved some apprehension
that there would be no increase al
though the distribution was not as
large as some speculations have
claimed to expect New York Central
developed a strength early in the day
and had risen to the highest point be-
fore the announcement of the new
stock issue and the subscription rights
to stockholders. The price was in
ciined to sag after the announcement,
as new bond and capital issues have
been in disfavor with spectators re-
Gently. The price of the stock has in
dicated for some time past that rights
of some sort were accruing as the di-
rectors statement now indicates was
the fact.
The statement of the country's for
eign trade for December was regarded
as favorable. The heavy decline in
exports of breadstuffs, principally Of
corn, probably was expected. The de-
cline in this item accounts for practi-
cally the whole of the decrease in the
total exports for the month which was
about $S,SO0,000 compared with the pre-
vious December. This shows that the
declining tendency in the exports of
manufactured products has been arr
rested. The large gain by the banks
from the sub-treasury and the return
flow of currency from the interior gives
assurance of favorable bank return
on Saturday and the heaviness OF
Sterling exchange indicates that no
gold will go out this week.
The active bonds generally moved in
sympathy WIN STOCKS. Total sales
rar value, $3,225,000 United States re-
funding rs declined " and the s's
coupon advanced a per cent on the
last call.
The total sales of stock for the day
were 611,900 shares, including Atchison
$1,000; Atchison preferred, $500; Baltl-
more and Ohio, 1900; Erie, 81, 200;
Louisville and Nashville, $500; Man
haitian, $4,000; Missouri Pacific, 5000;
New York Central, 16,6O0; Pennsylva-
mia, $500; Reading, As, 100: Reading
first preferred. 5000; Reading second
preferred, 1850; st. Louis and San
Francisco, 6,10O; st. Paul. 1890; South
ern Pacific. 10000: Southern Railway.
10000; Union Pacific, 54.S0O Amalga-
mated Copper, 23.7OO; Brooklyn Rapid
Transit. 300; Glucose Sugar, $500;
Peoples Gas 34.900 Sugar, 30 600:
United States Steel, % 300; United
states Steel preferred, 2S,SO0.
New York stock ana Bond List.
Railroad Stocks.
AfnhIGnI