The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-14
STOCKS AND BONDS.

New York, July 13.-The healthy DIS
position of the security market today,
evinced by notable and widely distributed
advances, especially in the coalers, in
dustrials and gilt edged investment
stocks, was due to various favorable in
fiuences of general effect. The coalers
easily responded with a rise extending
TO 2 per cent to the Lehigh Valleys cleo
ton of officers and directors known to
be acceptable to controlling interests in
other anthracite properties and to the
harmony in operation expected to result.
| The judicial interruption. of the pro
posed inquiry into the anthracite trade
under the antitrust law enacted by the
| last New York Legislature not only had
Il good effect on the coalers but strength
ened the whole industrial group. Today's
Washington rumors continued favorable
| to the refining interest and to the effect
that compromise sugar schedule pleas
ing to the company would likely be
agreed upon by the conference. The result
was that Sugar scored another high rec
ord price, touching 1875 or nearly 3
points above yesterdays close and over
3 points above the loftiest price preyi-
GUS, which was 134a. The suspension Of
house supposed to have been hurt in
carrying large account for an operator
on the wrong side of a rising market
only temporarily depressed Sugar. 1t is
now supposed that yesterdays sharp
jump in Sugar was partly due to knowl-
edge of this operators position. The
announcement of the failure caused a re-
action in the market which carried prices
generally a fraction below last nights
close. The fluctuations in Sugar were
most cratic and wide, attended by heavy
covering of shorts Hesitation ensued
and then there was increased activity and
strength. The transaction in the stock
comprised a fourth of the total transac-
tons in all stocks, over 1900 shares be-
ing sold. After momentary decline at
the opening the stock sold up rs above
yesterdays close, reacted rs and then
partly recovered, closing at a point adj
vance over yesterday. Chicago Gas ruled
strong on favorable Chicago dispatches.
Good crop and weather advices bettered
the Changers sharp fraction. Susque-
hanna and Western preferred gained rs.
Northwest preferred and Delaware and
Hudson 2 each. Other stocks not hither-
to mentioned which recorded gains of a
point or more were Tobacco, Canadian
Pacific, New Jersey Central, Reading
first preferred, Reading second preferred,
Minneapolis and st. Louis second pre-
ferred, Pullman, Rio Grande Western,
Spirits preferred, Leather preferred and
Oregon Short Line. The closing was
strong and generally at best prices,
which were a fraction above yesterdays
close in cases not specified above.
Marked exceptions were Brooklyn Rapid
Transit and Des Moines and Fort
Dodge, which closed q and IN, respec-
lively, below yesterday.
The total sales of stocks today were
3O2, 65S shares, including Chicago, Bur-
lington and Quincy, 1902; Delaware
and Hudson, 6,065; Louisville and Nash
vile, $3.50; New York, Susquehanna and
Western preferred, 7,717; New Jersey
Central, 9,O13; Reading, 25,3SO; Rock
Island, 7,14O; st. Paul, "a, 56S; American
Tobacco, 1916; Chicago Gas, 14,5O6;
Sugar, 79,087; United States Leather
preferred, 1884.
| Considerable strength was displayed
among few of the industrial mortgages,
/ but the general market also displayed an
improved tone on moderate purchases
Business was somewhat more general in
the low priced securities with the liens Of
some recently organized properties as
Stunning prominence The aggregate sales
were $1,703,OO0.
Government bonds were practically
neglected, but ruled steady at yester-
days closing prices.