The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-21

points. The final INCUBATION lett IL still
with fractional net gain. The local gas
stocks, whose sensational advances had
Sustained the market on recent occasions,
were prominent in the decline. CONSOLE
dated Gas dropped six points, and Brook
Ign Union four. The Vanderbilts and
trunk lines, the coalers and the leading
industrial shares and specialties all
shared in the weakness, and nearly all
showed declines of point or upwards.
Louisville, which mas shown weakness
recently on account of the yellow fever
scare, was an exception, and closed with
a net gain of small fraction. Baltimore
and Ohio showed marked strength early,
rising two points and closing with a net
gain of IA. Western Union and Wabash
preferred, which made sharp gains early
in the day, fell heavily to below Satur-
days close. The course of the London
stock market caused more or less depres-
sion here at the opening and again when
London closing quotations were received,
showing some heavy declines from their
opening prices. The grangers were some
what sensitive also to reports of bad
weather for crops IN the West.
But the decisive influence in the decline
was a sudden stiffe6ing of the rates for
call money to per cent. Quite q large
amount had been offering all day as low
as per cent, but in the final hour
money lenders demanded per cent. There
continued to be q large demand and fig
ures ranged from 3 to per cent, loans
being made at the high figure, up to the
last half of the hour. The closing saw a
decline to per cent. The stiffening in the
money rate came too late in the day to
affect the exchange market. Rates for
sterling exchange were somewhat harder
during the day, though the market was
very inactive. The posted rate for sixty
day bills was advanced half a cent to
81 S31h. Actual rates for demand bills
were quoted IA higher, and for sixty day
bills - higher. Interest centers in the ef-
feet which the hardening Of money rates
and the calling of loaas will have on the
exchange market and the import move
ment Of gold.
The total sales of stocks today were
I517 .46S shares, including Atchsan, 5.S25;
Atchison preferred, 1880; Baltimore &
Ohio, 5000; Chesapeake and Ohio, b.
l150; Chicago, Burlington and Quincy,
"a. 600: Louisville and Nashville, 16.340;
Manhattan T., 1900; Missouri Pacific.
$500: New York Central. 100; North
ern Pacific. preferred, 10000; Ontario
and Western, $500; Reading, 14.2OO;
Rock Island. 40.070: st. Paul, 27.740;
Union Pacific. 24.525; Union Pacific.
Denver and Rio Grande, 1890: Wabash
preferred. 12,5OO; American Tobacco,
20.51O: Ray State Gas. 1920: Chicago
Gas. 1920: Sugar. 5000; United States
Leather preferred. 6.710: Western Union,
$40: Chicago Great Western, 25,420.
| Railway bonds were not so actively
dealt in today, sales amounting to 81
100000 Prices were about steady.
| United States coupon 4s sold at ia,
do. reg at 111a land the SIS. coupon, at
49, Bid prices f~r government bonds
receded a fraction all around.
LONDON MARKET.
New York. Sept 2o.-The Evening
Posts financial cablegram says:
The stock market was stagnant to-
day, apart from small revival in Eng
lish rails. Americans were dull Mt the
opening on the New York lead this
morning, and on reports Of business diff
fculties Of a large operator in New
York. whose name was mentioned in
London Times cable Of to-day There
was little disposition here to purchase
largely on the reaction, but New York
bought Denver preferred and some other
stocks this afternoon and prices closed
generally firmer The Paris and Berlin
markets were dull.
| NEW YORK CLOSING STOCRs-W