The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-01-03

afternoon, when call money rates stiff
fened TO Is per cent. Reading was
vigorously advanced to above SO and
served to steady prices. but the selling
was highly irregular. Sugar ran off
a point below Wednesday.
The opening call loan rate of 10 per
cent. showed a stiff demand for funds.
but caused no great uneasiness. Other
developments pointed to a relaxed con-
dition in the loan market, and sterling
exchange market made a sharp break
with the cessation of the demand for
cables to meet the year-end settlements
in London, which was a feature last
week. Preliminary figures of the
weeks currency movement. which runs
up to Wednesday night indicate that
the banks have gained upwards of g.
200, 900 on the regular movement with
the interior, while the sub-treasury has
taken from the banks, s., 429. 900, thus
indicating net gain of about $780,
900 for the banks. The weeks grain
exports were disappointing, while the
imports of drygoods at New York rose
in value several hundred thousand dol
lars over those of last week and ex-
ceeded those of this week last year by
over $500, 900, thus explaining the large
customs collections of the week.
The stiffening of the call loan rate
in the day indicate that there will be
the usual delay in the return of funds
to the channels of the New York money
market, following a disbursement pc
Rod. The action of the days mar
ket gave rise to conjecture as to weth-
er the advance in prices simply
halts upon the expected easing of the
money rate, Nor whether the doubts of
last month over the general situation
have required. To-day's statement of
Readings earnings for November
proved Disappointing and the late ad-
vance in this stock was unexplained.
Other statements of November earnings
showed gross increases more than WHIP
ed out by increased operating expenses.
Louisville and st. Paul, however, show
ed moderate net gains remaining. But
these stocks were rather more affected
by realizing than others. The an
nouncement of the profit-sharing plan
of the United States Steel Corporation
caused a sharp rise in the preferred
stock. Amalgamated Copper continued
to advance on the rise in copper, but
reacted sharply. Brooklyn Transit was
somewhat depressed and affected the
other local fractions. Missouri Pacific
selling eX-dividend, was notably strong
and helped the Southwesterns general
ly.
The early firmness in the bond market
gave way 10 an irregular tone in SYM
pathy with stocks. Total sales par
value 81, 100000 United States bonds all
unchanged.
Total sales stocks to-day, S77 100
shares. including Canadian Pacific, g.
900; Chicago Great Western, 37,S00;
Erie, $1,000; do first preferred, $500;
Illinois, Central. 5000; Manhattan, U.s.
700; Missouri Pacific, 1850: Missouri
Kansas and Texas, 10000; do pre-
ferred, 1000; Ohio and Western, TO-
500; Pennsylvania, 10000; Reading, 49,
500; do second preferred, 800; st. Paul.
27,6O0; Southern Pacific, 2S,9O0; South
ern Railway, 1880; Texas Pacific, &c.
100; Union Pacific, 45.5O0; Amalgamat-
ed Copper, $4,000; Brooklyn Transit, g.
900; Sugar. 10000; Tennessee Coal, s.
400; United States Leather $780,
United States Steel, $4,000; do pre-
ferred, 21,900; Rock Island, 29,16O.
New York stock and Bond List.