The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-04-04
STOCKS AND BONDS.

New York, April 3.-There was an
other heavy selling movement in the
stock market this morning. which APP
parently overreached the mark judg-
ing from the scramble by the shorts to
cover during last hour when the sup
ply of stocks had become scarce.
This led to a lively rally and a general
recovery of prices to above last nights
level. The rally was not we'll held,
however, owing to the evidence of re-
newed realizing and the satisfaction of
the more urgent demand from the
shorts. AS a result the closing was
easy and below the top level on the
rally.
The appreciate relation of the ten
sion in the money market and a con-
fidence that the factors at work would
bring still further relief next week
were the dominant influences in the
rally. The morning selling was pri-
marily due to the bad influence of a
violent break in Southern Pacific to
55A, which aroused fears for the po-
sition of the pool. The apparently
endless stream of liquidation in Penn
sylvania was also turned into the mar
ket afresh carrying the price to a new
low level on the movement at 1876. The
Friday requirements in the money mar
ket kept up the call money rate early
to warrant the assumption that the
banks were assuming an admonitory
attitude towards the speculative pools
in a way which might account for
some of the selling. The extreme was
reached in the personal antipathies
growing out of the Southern Pacific
quarrel gives color to the supposition
that the weapons employed extend to
the influences of the supply of finan-
cial resources employed by the pool
in the stock market. The fact that
the Southern Pacific's books closed to-
night for the annual meeting means
the ending of the struggle for repre-
sentation at that meeting. The de-
mand for the stock is likely to be af-
fected as a consequence. It's move
ment became very feverish in the late
dealings during the rally in the mar
ket and in it's rise to 601A there were
several wide price changes. rumor
found currency at the same time that
a prominent financier, whose services
have been called upon to settle more
than one threatened financial contest,
had been induced to adjust the differ
ence amongst the Southern Pacific
shareholders. The feverish relapse in
the stock sufficiently indicated the
skepticism with which this rumor was
received. The notable feature in the
late strength was Brooklyn Transit
which was lifted 23s over last night
Tennessee Coal was sold on the reduc-
ton in price of pig iron by Southern
furnaces. Colorado Fuel extended it's
recent decline. The weakness of SUI
gar was attributed to unsettled trade
conditions.
Bonds were irregular. Total sales,
par value, $2.67O,O00. United States
bonds were all unchanged on the last
call.
Total sales of stocks were 723. 400
shares, including Atchison, 27,3O0; Bal
timore and Ohio, 24,1O0; Canadian Pa
cific, $780, Erie, 248OO; Union Pacific,
81, 100; Wabash, 800; Copper $4,000;
Brooklyn Transit, $780, Colorado Fuel
and Iron, 10000; Louisville and Nash
vile, 400; Manhattan, $500; Metropol-
itan, 5,000 Missouri Pacific, %, 400; New
York Central, Is. 900; Pennsylvania, 101,-
100; Reading, %. 1O0 st. Paul, 44Goo;
Southern Pacific, 40.100; Southern Rail-
way, 65O5; Sugar, 17,100; United States
Steel. 1880: United States Steel pre-
ferred 10000; Rock Island, $4,000.