The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-16
STOCKS AND BONDS.

New York, July 15.-The conference
committee deadlock on the tariff had a
counterpart on the floor of the stock eX-
change to-day, especially among the pro-
fessional spectators, the net changes
being fractional either way in most active
stock, but for the time being the market
has broadened materially, SO after two
days success it would seem that specula-
tors for an advance might be content
with not losing much ground on the third,
especially as it is considered probable
that strong interests with optimistic
market tendencies prefer quiet market,
pending final action on the tariff and the
Presidents currency message in order
ultima tely their factories may not carry
top weight in the advance they fain
would expect when Congress adjourns.
The enormous over-subscription, $780,
100000 for n 100000 issue of Metro
poiitan street railway bonds offered at
105, and the fact that there were stimuli
taneous sales at an advance Of 51h points
on the street was taken as a certain
indication Of confidence. Moreover the
Great Northerns increased dividend was
interpreted as fairly indicating a steady
business recovery in the Great North
west. The Changers, the foremost bene
ficiaries of such conditions, showed only
temporary strength, losing their early
gain. The favorable crop outlook coin
cident with rise in grain quotations
had evidently. been discounted and st.
Paul was subjected to professional pres
sure, but the net recession was trifling.
While London disregarded the Boring
sea dispute, they took a less interest in
Americans than yesterday, selling moder-
4 of oil Af g..
| low priced shares and Louisville, the lat
| ter buying being due to cabled state
| ments that the resumption Of dividends
| is possible without the restoration of
wages. Sugar suffered to the extent of
point on repetitions of the rumor ex-
| plotted yesterday that the House duty
/ will really win in the conference COM
| mittee and again the possible delay was
| depressing a member of the committee
being quoted as saying that an agreement
| might not take place for two weeks. To-
bacco was manipulated in the early trad
| ing so as to recover the 2 per cent divi-
! dend. 1t then reacted, making a small
| net loss on the day. There was little
buoyancy among the coalers, excepting
Susquehanna and Western, preferred,
which gained 15sc, the latest rumor being
European trip Of fnanciers seeking Eng
lish help to purchase control of the road
Local gas companies advanced, CONSOLE
dated Gas, 214; East River, 4; the pre-
ferred, 81, counting that it was ex-divi-
dend. Spectators took it for granted
that there would be partial consolidation
of Greater New York gas companies,
although it was not wise to officially
admit as much and hence the denials
The average Of changes was slightly
lower for the day.
! The total sales of stocks for the day
amounted to 272,S37 shares, including
Chicago, Burlington and Quincy, SIPS;
New York, Susquehanna and Western,
S,196; New York, Susquehanna and
Western, preferred, 1890; Reading,
| 1929; Rock Island, $3.50; ST. Paul,
23,795; st. Paul and Omaha, S,77O;
| American Tobacco ex-dividend 41,OO3;
Sugar, 1927.
| The bond market reflected to mar
ket degree the general confidence in the
financial and commercial situat;, n Ap-
precautions were general in all classes of
| securities, and the revived demand for
the low grade mortgages was regarded
as indicating considerable outside pur-
chases. Operations for foreign account
| embraced purchases Of the more promi-
nent international liens. I'll. aggregate
sales were $l,715,00C.
Govern n'l.s were n"ylecr,. at thu
Board. but held Ertn 1T bid prices.