The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-04
STOCKS AND BONDS.

| New York. Aug 3-The market for Sc
curities received a further powerful i'm
petus towards a higher level of values
to-day. Buying was animated and in
| large volume in all departments, not
only Of the stock market, but of the bond
market as well. The confidence of the
general public in the revival of busf
ness and the improvement of values to
result was plainly manifest in the large
commission house orders executed on the
floor of the exchange these being in such
number and of such Importance as to
overwhelm all attempts of the profess
sional operators to check the advance
and to manipulate the market for reac
ton. All the news was such as to push
on the enhancement of prices. Reports
of crop prospects continued most en-
couraging from all quarters and the
continued rise of price in the grain mar
ket reflected the confidence of buyers that
good prices were to be realized for the
crops. The returns of railroad taffic
from the West and Southwest showed the
grain movement to be in such volume as
to leave the amount of business to be
dozen by the railroads only a question of
the number of cars they can secure to
ward movement Of merchandise is also
reported to be large for the season, so
that the trains carried westward, as well
as those coming eastward, are producing
revenue for the railroads. The buoyan-
cy of the industrial stocks was the re-
suit Of the bright outlook for the trade
in the particular staples in which these
great corporations deal. The gas compa-
cialI
dated Gas leading with net gain of 51h
points. The exchange situation was also
much cleared, the quotations for actual
| business in sterling exchange breaking
! to S4.S7 or sight bills, and $4.S5A for
sixty days. The declining tendency is
due to the free offering of grain bills,
which are likely to increase from this
| time on. In view Of tbs fact, further
exports of gold are exceedingly unlikely
to occur and the annual refux of the yell
low metal will probably begin at no dis
tant day. The heavy adverse trade bal
ance to result from foreign purchases of
grain is considered to be the motive of
the persistent Discrimination Of foreign
exchanges to invest in American securi-
ties and Of their disposition to take prof
its by selling these securities in the New
York market.
Sales of this character were large to-
day, especially of Northern Pacific pre-
ferred. The following list of advances
indicates the proportions of the improve
ment
Consolidated Gas, 81; East River Gas,
3; Sugar, preferred, 311k; Sugar, Brooklyn
Union Gas, Chicago Gas, General Eec-
trio, Las Lede Gas, Oregon Navigation,
st. Paul and Duluth, both common and
preferred land Spirits, preferred, points
| or over.
Total sales of stocks to-day was 475,-
40 shares, including Atchison, 6,635;
Atchison, preferred, 1899; Chesapeaka
and Ohio, 10,40O; Burlington and Quincy,
24,S5O; @. @. G. and st. Louis, $500:
Louisville and Nashville, 1850; Manhat-
tan L., $500; Missouri Pacific, 1885:
New Albany and Chicago, preferred. H..
$40; Northern Pacific, preferred 26,31O:
Northwestern, 6,S55; Reading. 100:
Rock Island, 1920; st. Paul, 44,592:
Southern Railroad, preferred, 9115:
Union Pacific, 5,155; American Shirts
14,6O5; American Tobacco, 1880: Chi,
cago Gas, 2O,44O; General Electric, 49,
|045; Sugar, 26,912: United States Lea
Their, preferred, 5,61O; Western Union,
1900; Chicago Gas Works, II 800.
Trading in railroad mortgages was in
large volume with substantial variations
in many issues. The low-priced securities
were eagerly sought for by domestic and
foreign purchasers. The general tone
was very strong, with specific Influences
operating to enhance values of some lions.
notably Oregon Improvement consol. SIS.
Trust receipts were conspicuous for rise
of 81 per cent. to 80, with later re-ac- |
ton to %. The aggregate sales were
S3,990,000.
The fac-simile signature of rB-