The Savannah morning news., 1903-10-27
STOCKS AND BONDS.

New York. Oct. 26.--Professional OPP
orators did not find much difficulty in
bidding up prices to-day, and their op-
erations made up the large part of the
rather limited stock market. They
met light offerings of stock as prices
advanced, but they attracted no out
side following to speak Of Some buy
ing by uncovered bear operators was
induced, and this helped somewhat in
the advance. In the occasional pauses
in the professional operations on the
advance the market fell into an almost
stagnant condition, but yielded little.
The closing was strong and not much
below the best. The days news was
not especially encouraging, and, in
fact offered several doubtful factors.
But the traders are inclined to argue
that the resistance offered by last
weeks market to the effect of the fail
ures in Baltimore and PittSburg is eV-
idence of any underlying condition of
strength. The failures at Baltimore
and Pittsburg not only exercised an in
tiuence of their own, but they aroused
a spirit of suspicious inquiry into bank
ing and trust company conditions as
whole. This makes it improbable that
these conditions have any surprises in
store for the banking world, and opera
tors in stocks are encouraged from this
to feel a confidence that other failures
would be with as little effect in Wall
street as those which have already oc-
Cured. Specific reports of improved
conditions at Pittsburg and Baltimore
also conduced to the feeling of encour-
agement. The advance in prices was
not affected by the admissions in the
weekly reviews of railroad traffic, now
first made, that the general traffic sit
uation does not look as strong as it
did a month ago. This is in strong
nst 10 NhA
pressed by traffic officials over the fu-
ture of business up to this time. This
weeks report admits that everything
is moving in much smaller volume than
at any time in many months, and for
the first time in q long while some
of the roads have their freight solicit
tors actively at work again. These re-
ports come from sources that have
complained hitherto that Wall street
was the only blue spot in the country,
Now that the evidence of depression
is appearing at other points, Wall
street experiences the relief from hav-
ing already gone through this process
Of contraction, There was also an APP
probably firmer market for time money
to-day and call loans rose to per
cent. when belated borrowers supplied
their needs. To-day's speculation CEN
tered in Amalgamated Copper, which
rose an extreme 81. The advance
was based on much the same kind of
argument as that in other stocks.
namely, that the harm from the Mon
tana litigation was discounted in the
previous decline in the stock.
Bond market continued broad and
strong. Total sales, par value, $2,S04,-
coo. United States SIS and old As adj
Vanced u on the last call.
Total sales of stocks to-day were 362,-
100 shares, including Atehison, $3.50;
Baltimore and Ohio. $3.50; Canadian
Pacific, $3.50; Erie, $780, Metropolitan,
ZOO; Missouri Pacific, $500; New York
Central, 1873: Norfolk and Western,
s1O; Pennsylvania, 26,40O; Reading, o.
600; Rock Island. 10,150; st. Paul, 22s200;
19. $50; Copper, otto; Brooklyn Transit,
$685. Steel, 1900; Steel preferred, b.
900.