The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-16
STOCKS AND BONDS.

STOCKS AND BONDS.
New York, May 15.-Chicago Gas ana
Sugar absorbed over one-th1rd OF Tue
total sales at the stock exchange to-day,
the dealings being about equally divided
between them. There was so little to en-
courage selling in Chicago Gas that the
motive for it must be attributed to
doubts of the value of the stock being
equal to the price There were evidences
of heavy liquidation based on apprehen-
sions that the consolidation measure will
fail in the Illinois legislature and with
it the arrangement for division Of terri
tory with rival company. Stop orders
were reached on the way down bring
ing large blocks of stock on the sagglng
market Sugar also showed weakness
through the pending proceedings against
members of the company for contempt
Of the Senate, but recovered the loss.
The Changers also were subjected to
special attack by the bears on account
Of the weakness of the wheat market.
There was little encouragement to buy
in the course of the London market,
where Americans were largely neglected
! and prices were weak. There was mani
| fest apprehension also, as to what phase
| the Cuban question may have taken on
by the time trading is resumed on Mon
day. The impression prevailed that the
| intentions of the administration towards
Cuba were in formative state with
possibility Of taking an aggressive tone.
| The anthracite cOalers displayed some
| firmness due to covering Of shorts over
. Sunday and only trivial changes Occurr-
| ed in their prices. The Gould shares
! also manifested continuance Of the
; strength they displayed but it did not
, outlast the day and their prices declined
/ in the later dealings involving them in
f. net losses. There was a general cover
/ ing movement at the close of the ses-
| sion which rallied prices slightly, nearly
| all through the list from ~ to "a per
| cent from the lowest, the latter in Chi
| cago Gas. Some of the extreme declines
| were: Chicago Gas 29s: Burlington and
, Quincy 1&: Northwestern 1; st. Paul
. q; Rock Island 1; Omaha Is: and New
i York, Chicago and ST. Louis second
preferred H.. the latter without rallying.
. Prices generally of securities are sub
; stantially lower than a week ago. but
! there have not been lacking encouraging
features in the trading. The subsistence
{: of the fears engendered by the war be-
I. tween Turkey and Greece led to nota-
III TeNfNdl VI dCtlNlls III Tit lOItiSn
kets for securities and. although Ameri-
cans were given less attention than other
securities. their prices in London inn
proved and there were many thousands
shares bought in the New York market
for foreign account. The subsistence of
the buying from this quarter was appar-
emily due to New YOrk's persistent fail
rre to reflect the confidence manifested
by foreigners in American securities.
Commission brokers lay stress upon the
dealings in bucket shops to account for
the loss of interest by the outside public
i'm the market and the stock exchange is
trying to stamp out bucket shops by
legal proceedings and to Withhold the
quotations from the m and from the
public at large.
That the balance Of internal merchan-
disc credits was affected by the. recent
heavy import movement is shown by the
April trade statement, which reports an
excess of imports Of merchandise over ex-
ports of $25, 12S, 1874. But this still left
for the ten months of the fiscal year an
excess Of merchandise exported over i'm
ports Of $299, 1894 with net gold i'm
ports for the same period of $61 ,OO5, 751.
The enormous import movement seemed
to be in full force still last week, but
this weeks imports of dry goods and
merchandise at New York showed 4
total Of $12,05S, 1914. This is still alb
normally large, but is $2,623, 1926 less than
last weeks total. Net declines on the
week are general. The early strength in
the market resulted in gains of over a
point in the grangers, cotton oil preferred,
Chicago Gas, Tobacco, do scrip, L. and
N, and Leather preferred, fractional
l~o.,~ GIL.
established net losses in most OF these ex-
cept tobacco scrip, which maintained its
gain. Norfolk and Western preferred
gained 3A. Street railroad broke II
points on reduction of the dividend rate.
The bond market was quiet during the
week and suffered some sharp declines in
the usually dormant bonds. The under
tone of the general market was fairly
good with purchases for foreign account
exerting quite sustaining influence.
The dealing included large number of
issues, but the variations in the specu-
lative liens were trivial. The principal
, losses were: Peoria, Decatur and Evans
vile seconds 143b per cent; do firstss0ye,
Northern Pacific terminal frsts 712;
Louisiana and Missouri river frsts 5A;
Western New York and Pennsylvania
iHCohAeS 712, MlsSouIi dciuC conSoAS sAAS5
3A and Union Pacific sinking fund rs
and Galveston, Houston and Henderson
frsts 3 per cent. Governments were quite
largely dealt in and displayed general
frmness with the new As gaining slight
".
The total sales of stocks to-day were
Il, $40 shares including the following:
American Tobacco Company 1,2OO;
Chicago Gas Tr Rec. 10000; American
Sugar Refinery $4,000; Burlington and
Quincy $500; st. Paul $500: Southern
Railway 500; do preferred LOO.