The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-11
RALEIGH TOBACCO MARKET.
STOCKS AND BONDS.

New York, June 10.-The largest vol
ume of trading on the stock exchange for
the year thus far, was done to-day, the
total sales of all stocks being nearly $780,
900 shares. The dealings were we'll dis
tributed throughout the list, many stocks
that have lain dormant for a long time
being called into activity by the awaken
ed demand for securities among the out
side public This demand was indicated
by the good commission house buying.
But there was also quite extensive COM
mission house selling of stocks, pointing
to the probability that the continued
steady rise in prices has invited the mar
keting of some holdings that have been
kept back for a long turn in the market.
The marked strength of the market dur
ing all the early portion of the day was
accompanied by more or less desultory
selling to take profits, but up to the final
hour of the trading all these offerings
were absorbed without any marked effect
on the market. But a heavy realizing
movement in the final hour wiped out a
large part of the earlier gain in most
securities and all OF it in quite a num-
Der. The heavy liquidation in Sugar was
the main factor in breaking the market,
the selling being increased by some dis
appointment that the Sugar schedule of
the tariff bill had not passed the Senate
when trading closed and the re-awakened
apprehension that it might be changed in
conference between the two houses so
as to lessen the protection ON refined SUI
gar. The resulting weakness of sugar
was as effective in depressing the mar
ket, in view of the large volume Of it's
sales, as its aggressive strength in the
morning had been in sustaining it. The
response of the London market for Am
orleans to yesterdays late strength here
also gave a strong impetus to the early adj
vance. London was also a buyer here to
a moderate extent of all the special IA
vorites of that market There was some
distrust felt of this London buying by
professional traders on the ground that
it may be for a short turn of the market
and is likely to come back here for sales
soon. The grangers were actively traded
in all day, st. Paul leading both in vol
ume of transactions and in extent of the
advance which reached point. It's reac-
ton was also less than the others of the
group, which lost Practically all their
gain, Rock Island showing "a net loss.
Sugars fall from the high point was 23s
but final rally left its net loss fractional
The cOalers were also notably active and
strong.
Tobacco was active ON manipulation
and closed practically unchanged. The
iron and steel companies were notably
strong and reacted only a fraction, Hi
nois Steel advancing 2112, Minnesota Iron
2, and Tennessee Coal and Iron IL. The
Vanderbilt stocks all showed strength,
Canada Southern, and Michigan Central
gaining III and the New York, G. and
ST. Louis stocks over point, other gains
in the group being fractional. Northern
Pacific preferred was very active, but
| moved narrowly. Louisville and Nash
vile gained IL. Lead preferred advanc-
| ed 2 points, Norfolk and Western prefer
red ~, st. Paul and Duluth points.
The new securities of the st. Joseph and
Grand Island Railroad were dealt in for
the first time, the first preferred ranging
| from 80 down to 1874, the second pre-
| ferred from u to IL and the first mort
gage bonds from CPS to g. Western
| Union continued notably active. advanc-
| ing IA, but reacting "a point The clos
| ing was weak, but slight net gains being
| the rule.
The total sale of stocks to-day were
| 345,345 shares, including American To
| bacco $4,000; A. II. and S. F., 5000; Am
erican Sugar Refinery 43,2O0; Burlington
and Quincy 2S,300; Chicago Gas Tr.
Rec. $500; Louisville and Nashville, TO-
| 200; Northern Pacific preferred 13,4O0;
| Pacific Mail 800; Reading 10000; Rock
Island 14,300; st. Paul 29,2OO; Tennes-
| see c.. and T. z 900. Westarn JTnion Tole
graph IL 200; New Jersey Central 16, 700.