The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-22
STOCKS AND BONDS.

New York, May 21.-The stock mar
ket was relieved to-day Of some part of
the pressure Of heavy liquidation in the
coalers and especially New Jersey Cen
trial. and in Chicago Gas which has been
the heaviest drag upon it for several days
past. The latter stock showed some
strength to-day on a renewal of faith IN
favorable action by the Illinois legisla-
ture on the consolidation bill. New Jer-
sey Central also recovered about two
points from the lowest of the day on
quite heavy covering movement. The
underlying strength of the market was
thus allowed to assert itself to some ex-
tent and was helped by some special
strength in individual stocks with the
result that the days trading brought
fractional gains all through the list. But
while the tendency of prices was upward
the market was totally lacking in buoy
ancy and was dull and apathetic, the deal
ings being in the strictest sense profess
sional and very small and the variations,
outside a few cases, very narrow.
feature of the market for the last days
has been the small volume dealings in
sugar Efforts have been apparent at
different times recently to repress any
since the tariff bill has been reported to
the Senate. Restricted dealings in a
dropping market would be natural con-
sequence of this policy The engagement
for export of $1,2OO,OOO in gold here had
no very marked effect on values as the
amount was about what has been anti
cipated. The shipment is said to be in
settlement of bills of exchange sold dur
- H. ha,
ments have been very small and the prob
ability is that such exchange as is called
for is being settled by gold shipment even
at the low price of exchange prevailing
and this is considered to be not unlikely
10 continue. The weeks imports of dry
goods at New York were valued at So
S73.2S4. which is a decrease of S423,So1
compared with last week. 1t is probable
that the imports of general merchandise
will show a proportional falling off, the
decreased receipts from customs reported
at this port to be reported tomorrow
from day to day foreshadowing such
result and accounting in part for the
light demand for exchange. London did
some buying in the New York stock mar
ket to-day and was a factor in the upward
tendency of prices. New Jersey Central
and Chicago Gas again absorbed about
one third of the total dealings to-day,
the aggregate sales of all stocks being on
~ 10000 shares. New Jersey Central
range was 23s and the net gain 13s. Lack
awanna and Delaware and Hudson also
improved, the former rs and the latter
"a Chicago Gas. General Electric and
Manhattan gained about a point each
on the day. the latter on reports, after
wards denied. that the new motive power
to be adopted had been determined upon.
The Railways practically all closed high
err Omaha leading with gain of "A
There was good buying in Western Union,
resulting in rise of "a on the day. To
bacco was heavy and lost a large frae-
ton. The closing was strong, though dali
and practically at the top prices of the
day The total sales Of stocks for the
day amounted to 113, $50 shares, includ-
ing American Sugar Refinery 6,2OO; Bur
linston and Quincy 1880; Chicago Gas
Tn. Rec 1900; Rock sIsla nd 3, 100; New
Jersey Central 21,SOO.
The bond market ruled quiet and nm
interesting with light tendency toward
a higher plane. The st. Louis and San
Francisco securities were prominent in
the speculation, with the general IS ris-
ing ~ and do 6's / per cent. Several
issues were marked by heaviness, includ-
ing New Jersey Central, coupon and
Registered is. The aggregate sales
were 81, 900. Governments were neg
lected by generally firm, the sales were
$4,000. n