The Savannah morning news., 1903-12-04
STOCKS AND BONDS.

| New York, Dec. 3.-The stock market
broke into great animation to-day and
developed considerable strength on the
obvious distress on the part of the
short interest. The volume of deal
ings rose to the neighborhood of l.
600 600 shares. The activity was pro-
gressive, the early part of the day be-
ing given over to intermittent buying
movements, with intervals of extreme
dizziness. The strength Of the first
part of the day was also confined to
few special stocks and was inter-
/ rupted by occasional selling move
ments to take profits even in those
stocks.
There was a considerable number
Of the stocks of the first prominence
that did not come into the upward
movement at all. Nearly all of the
Western stocks were laggards until
late in the day, and the cotton carry
ing roads had no share in the days
activity and strength. Even the move
ment in Pennsylvania, which became
Of decisive influence, was late in de-
veIopng, and that stock was one of
the many which was below last night
in the early reaction.
The few industrials which spurted
upwards in a sensational manner in
the closing dealings yesterday, We're
inclined to reaction on prUft-takng.
Colorado Fuel lost full points as
the report of an intended bond issue,
which was offered to explain yester-
days rise, did not seem to promise well
for the common stock. Sugar lost
point on profit-taking and Amalga-
mated Copper was a fraction below
last night at one time. The extensive
circulation of predictions of an ad-
vance in Amalgamated Copper aroused
.sx5x, -
stock came into the late upward move
ment. Canadian Pacific suffered from
the report of a new issue of capital.
Notwithstanding these drawbacks, the
upward movement of prices gathered
momentum and volume as the day pro-
coded and was effective in alarming
a more important short interest than
has yet been reached since the turn
from the extreme depression of the
market. The causes of the advance
were rather obscure but vague asser-
tions were freely circulated of a large
and determined absorption of stocks
by the various groups of great CAPT.
talists and banks which make up the
dominant powers in the financial world
Call money loaned again as high as
" per cent. The governments estimate
on cotton in the reduced amount of crop
indicated nothing capable of 50 fav-
orable an Interpretation, but the pre-
vailing mood of the Stock Exchange
was bullish and all contrary influences
were ignored.
Bonds were irregular. Total sales par
value were $4,806 900. United States
bonds were unchanged on the last
call.
Total sales stocks to-day were $40, 800
shares, including: Atchson, 80, 825;
Baltimore and Ohio, 20, 14O; Chesapeake
and Ohio, 1000; Erie, $4,000; do first
preferred, 800; Hooking Valley, $500;
Louisville and Nashville, 5000; Man
haitian, $500; Missouri Pacific, Is, 400
Norfolk and Western, IL 100; Ontario
and Western, $500 Pennsylvania, 1885,
700; Reading, 25,5OO; Rock Island, 25,-
| 500; st. Paul, 25,4OO; Southern Pacific,
16, 700; Southern Railway, $500; Texas
Pacific, $500; Union Pacific, 50, 300
Wabash preferred, 5000; Amalgamated
| Copper, 6l,700; American Sugar, II, 100;
Brooklyn Transit, 1920; Peoples Gas,
5000; Tennessee Coal, 5000; United
States Steel, 23,500; Steel preferred, 49,
400