The Savannah morning news., 1903-10-21
STOCKS AND BONDS.

New York, Oct. 2O.-Wall streets
highly colored ina gination, as is the
case almost invariably, took an ex-
IRENE view of the possibilities of Mon
days events in Baltimore. Finding this
to be the case to-day the operators
who sold stocks with undue freedom
on Monday bought them back to-day.
The decrease in the volume of deal
ings indicates that not all of the stocks
sold on Monday were rebought to-day.
Prices moved easily upward, however,
and retrived the greater part of yes
terday's losses. Whether there was
more cause for yesterdays perturba-
ton than was indicated by the sequel
to-day NAV never be known, but the
acuteneSs of the fears felt yesterday
were considerably dissipated from the
outset of the market and confidence
grew pretty steadily throughout the
day. There was a small setback dur
ing the final hour, but this was appar-
emily due to nothing more than the
normal profit taking by room traders,
invited by so considerable Of an adj
vance. The market rallied again and
closed very firm and but little below
the best
1t became known Immediately in
Wall street before the opening that all
the Baltimore institutions had opened
their doors this morning and that only
slight evidences of fear were being
shown by their depostors. Such as
was shown was reported later as be-
ing dissipated and opinions were
quoted even that the receivership in at
least one of yesterdays instances had
been unduly precipitate. 1t cannot be
said that the character of to-day's
buying carried very great conviction
as to it's substantial quality as most
of it was attributed to professional OPP
orators either for purposes of covering
short accounts or for manipulating
prices against the short interests. New
ertheless, the advance in prices failed
to develop any new pressure to sell
stocks and was effective also in i'm
pressing the shorts with the desirable
ity of covering their short contracts in
contrast with the recent air of conf
dence of the bear party in so persist
emily selling the market on all occa-
sional rallies.
The feeling amongst the bears was
that the failures at Baltimore had I'M
covered the weak spots in the situation
and the fact that to-day brought no
extension of the trouble gave the i'm
preston that the worst of the strain
was over, which would demonstrate
sufficient strength in the situation to
withstand any longer demands that
might follow. There was little in the
news of the day to affect prices. Su-
gar's special strength was due to the
calling of the extra session of Con-
gress with the sole purpose of perfect
ing the Cuban reciprocity measure.
The bond market was firm and a
moderate demand for investment was
reported. Total sales Of bonds, par
value, $2,147.000. United States bonds
unchanged.
Total sales of stocks to-day were
500, 400 shares, including Atchison, ST.
$50; Baltimore and Ohio, $4,000: Erie,
23,200; Louisville and Nashville, 1900;
Norfolk and Western. $780,. Pennsyl-
vania, $4,000; Reading, $4,000; st. Paul.
1900: Southern Pacific II 100; South
ern Railway. 400; preferred, 5000;
Union Pacific. 46600; Amalgamated
Copper. 81, 300; American Sugar, 3D.
200; Brooklyn Transit, 400; Tennes-
see Coal and Iron, 1900: United States
Steel, 10000; preferred, $500.