The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-23
STOCKS AND BONDS.


New York, July 22-There was not q
weak spot in the whole list today, save
net loss of over point in Sugar quo
tations. The volume of business was
| large and broad. Bonds as well as stocks
were strong and the dealings extended to
many hitherto moribund securities.
Decreased exports of grain and lower
quotations for wheat as well as London
| arbitrage sales were ignored and the
market advanced on pool support. The
highest figures were recorded in many
securities about noon, but an even larger
number of securities scored about their
best prices at the close. Some foreign
houses are of the opinion that London Is
heavily short and anticipate interesting
Developments at the nd of the account
next week. Brokers having little faith
| that there would be much change in the
sterling exchange market gave but tenn
porary attention to predictions that some
| 100000 in gold would be exported to
Paris on Saturday. The continent has
been buying gold and with easy money
here this country can spare the gold
more readily than another. Extensive
commission house buying today was
potent factor in the markets strength
and it remains to be seen whether now
that he public is taking hold of the
market, professional traders will unload
upon it as usual London adyices were
| that if the present movement in Ameri-
cans continued the British public would
come is as purchasers, but that, al
though a larger business was being
transacted in Americans today than usu
noir. 1Iu al
American account. Sugar fell 81 to 40
| in the initial dealings, recovered the
loss, but was again pressed for sale and
ended with a loss of 1as. The Changers
and Southwestern were the leaders in
| the days upward movement on large
dealings. Other stocks conspicuous for
| their strength and activity were Lead,
Chicago Gas, General Electric, Louis
vile and Nashville and the Gould
shares. Rock Island scored net advance
of 212 points on rumOrs of Increased
earning capacity. Burlington on similar
influences was bettered to the extent of
point and a half. Coalers were neglect
ed because Of the trade conditions. Amer
lean Spirits preferred rose a point on
heavy buying by the same interests re-
Gently active in Sugar and st. Paul.
The rise in industrials, including point
and a quarter in Cotton Oil common and
two in the preferred, one in Starch, Sec
ond preferred, were attributed to an ex-
pected increase demand of their products,
said to be expected because Of the new
tariff. General Electric advanced ~ on
unconfrmed reports of an adjustment of
back dividends on the preferred stock.
The market generally closed with a net
advance of ~.
| The total sales of stocks for the day
were 45S, 760 shares, including Atchison
preferred, 6,4S2; Chicoga, Burlington and
Quincy, 80, 143; Louisville and Nashvill,
1926; Manhattan l., 1862; Missouri
Pacific, 5,425; Missouri, Kansas and
Texas, 100; Missouri, Kansas and
Texas preferred. 1904; Missouri Pacif-
ic preferred, 4,7S0; Reading, 1923; Rock
Island, 32,61S; st. Paul, 1871; South
ern Railway preferred, 1857; Texas and
Pacific, S,460; Union Pacific, 14,716;
American Spirits, 1908; American To
bacco, 1895; Chicago Gas, IL ,455; Cen
eral Electric, 1884; Lead, 1885; Su-
gar, 1929; Western Union, 1875.
/ The bond market continued to reflect
brisk demand for investment and specu-
lative account, which included numerous
of the middle grade and speculative is
sues. Values moved uninterruptedly up
ward and at the top level indicated gains
of per cent or thereabouts in the lead
| ing mortgages. Improvements were, as a
rule, more material in the usually mac
| tive securities.
The aggregats sales were 2,595,0
Government bonds displayed an i'm
proved tone and were more active. The
sales aggregated $4,000.