The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-08
RALEIGH MARKET.
RALEIGH, n. @. Sept. -
QUOTATIONS. YRsTRRDAY.
NEW YORK STOCK MARKET.

New YORK. Sept. To days stock
market was exceptionally dull, and the
dealings were confined within a narrow
range, rejecting the absence Of many
brokers on account of the yacht race.
The only notable exception was Tennessee
Coal and Iron. That advanced / per
cent, and the preferred per cent and
the improva ment was retained at the
close The only explanation was the
continued improvement on the iron
trade. Sugar, General Electric and
st. Paul closed at slight advances.
The general tone of the market was
firm.
The course of the speculation during
the week has been irregular. The for
eign operations have chiefly been for the
decline and have been inspired by uncer-
tainty as to the treasury outlook when
the time elapses during which according
to the popular impression the Belmont
Morgan syndicate is "morally" bound to
maintain the 500, 900, 900 gold reserve
The strength of the exchange market is
undated in spite of the temporary and
slight relief caused by the actual exports
and gold bills are about the only ones in
the market Another point upon which
great unfavorable stress is laid is the
considerable decline in the prices Of our
grain.
Wheat and corn are selling at prices,
which will, from an exchange point of
view, require exceptionally large exports
to figure on the right side Of the trade
balance. Indications are that the crops
of both winter and spring wheat will be
larger than the recent estimates. 1t Is
now clearly evident, however, that the
United States no longer controls the
wheat markets of the world, the situa
ton being dominated by the crop condi-
ton in Russia, India, Argentine and
number of small producers of respect
able aggregate capacity. On the other
hand, cotton exhibits marked strength
as that staple is a short crop and is
unaffected by serious competition of any
foreign country. The price of corn is
actually dropping toward basis of CON
parison with that of anthracite coal,
namely, about $3.50 per ton, which is
the wholesale price of anthracite at
present. Nevertheless, a great abund
ance Of corn is boon to the whole c0un-
lOt tIIC IcdoOu bildJ COIA 10 uOL a
money crop, barely 10 per cent Of it
reaching the central markets. and not
more tban2 l. 2 per cent being exported
The distribution of business in stocks
has been excellent and the tore was
fairly firm, the greater part of the week
The leading coal stocks attained the
highest prices of the year and this fact
has not escaped the attention of shrewd
operators who believe that a settlement
Of existing difficulties is near at hand
Sugar was strong on the improved
statistical position of the industry owing
to the recent successive advances in its
products. The declaration of the regular
quarterl dividends upon the common and
preferred stocks induced realizing sales,
resulting in the loss of one half of the
improvement. The stock closed 7'8I
per cent. higher The net results were
general gains, as compared with the
final prices Of the previous week The
more noteworthy were Erie Telegraph 8
A per cent. Flint and Pere Marquette
preferred 8; Tennessee Coal & Iron Isl
and Lackawanna 3-4 The aggregate
sales of the week III stocks were ,49t,-
800 shares.
The trading in bonds in to-day's brief