The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-07-18
STOCKS AND BONDS.

New York, July 1.-THE recovery in
the prices of securities which was in
terrupted yesterday by the late de-
cline in Amalgamated Copper, was re-
sumed to-day. 1t showed some hest
tation at various times. owing to the
unsettling effect of sudden breaks in
special stocks.
But 1t gathered strength as the day
progressed and in the final hour the
level of the entire market was lifted
between and 3 points over last night.
New York Central and St. Paul led the
advance, but gains of points or over
were scored by Pennsylvania, Reading,
Erie first preferred, Illinois Central,
Union Pacific, Atchison, Amalgamated
Copper and Smelling.
The opening advance in the market
was first checked by a renewed attack
on Amalgamated Copper, which carried
it back to yesterdays low level. But
the stock showed determined resist
ance and became strong, notwithstand-
ing report of an additional cut in the
price of the metal. Another backset
was caused by the drop in Sugar to IL
below last night, which followed the
announcement of an advance in the
price of refined sugar and was without
other explanation. Colorado Fuel then
made a violent slump of 61s points to
was followed by a break in the Toledo,
St. Louis and Western stocks, which
cost the common So points the prefer
red IN and the 4 per cent. bonds 2h.
Rock Island was the last stock to show
notable weakness. and it's decline of
1B ended the resistance to the advance
in the general market. The market
was not notably affected by any of
these breaks.
10
outlook was brighter and rumors were
circulated without assigned authority
that many proposed loans by railroad
corporations had been postponed. Es-
Inmates of the weeks currency move
ments pointed to a net gain by the
banks of over $3,000000.
The principal interest in to-morrow's
bank statement will turn on the loans.
1t is supposed that the Pennsylvania
! Company has commenced the repay
ment of its maturing notes. 1t Is a
question on the other hand how far
the large borrowings by large railroad
corporations will be reflected in the
statement, as a considerable portion OF
these loans has gone abroad. To-day's
movement in stocks, however, showed
the feeling of confidence that the bank
ing situation is materially improved.
The market closed active and steady
at about the top level.
Bonds were inclined to rally in sym
pathy with stocks, but there were some
weak spots which made the tone un-
steady. Total sales. par value, $685.
900.
United States bonds unchanged.
! Total sales of stocks to-day were 692,-
900 shares, including: Atchison, $1,000;
Baltimore and Ohio. 21.200; Canadian
Pacific $4,000; Chesapeake and Ohio.
400; Erie, $1,000; do first preferred, g.
600; Illinois Central. 6.40O; Louisville
and Nashville, 5000; Missouri Pacific,
26 900; New York Central, $4,000; Nor
folk and Western. $500; Pennsylvania,
80, 700; Reading, $4,000; Rock Island, 49,
500; st. Paul. 41,90O; Southern Pacific,
16,700; Southern Railway, 1900; Toledo,
ST. Louis and Western preferred, g.
300; Union Pacific. $4,000; Wabash pre-
ferred, 5000; Amalgamated Copper, g.,
900; Smelling, $500; Brooklyn Transit,
| 1900 Colorado Fuel, $780, Tennessee
Coal, 2.SOO United States Steel. $4,000;
| do preferred, 300.