The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-21

sympathetic decline in the balance OF
the list. Sugar was strong on the de-
cision of the Treasury Department to
hold Dutch refined sugars conditionally
liable to the countervailing duty which
applies to imported sugars upon which
an export bounty is paid. Chicago Gas
derived strength from rumors of a COM
promise in the threatened competition.
The markets showed considerable in
crease of activity as compared with the
last few days, but was still almost purely
professional. London changed from it's
recent attitude and sold stocks here: Ad-
ditional reports of railroad earnings for
the second week in October show some
increased and many vague rumors We're
atfoat of still more striking improve
ments to be shown in statements not
yet issued. The large movement OF
cotton along lines recently released from
quarantine restrictions was shown by
reports and gave strength to the railroads
affected. The exchange market continued
firm and the local money market easy.
Some business is being done in the
lending of money abroad. This naturally
lends to keep up the rate of exchange.
The continued ease of the local money
market and the larger resources in hand
by interior banks owing to the large
payment of debts following the crop
movement of gold this way.
Bonds were strong in sympathy with
stocks. One 250,0OO block of Union
Pacific collateral trust notes was sold
at 60, and another block Of 10000 at
the same price. Total sales, 1850, 600.
United States new As advanced IA bid
and the 5's coupon declined IL bid.
The total sales of stocks to-day were
$402,200 shares, including Atchison,
preferred, $40; Burlington, 27,120;
Louisville and Nashville, 14,36S; Man
haitian, $1,000; Missouri Pacifs, 24,5OO;
New York Central, 11,S0S; Northern
Pacific, preferred, 1,195; Rock Island,
1928; st. Paul, 27,77O; st. P. and o.
M, 1850; Wabash, preferred, 1900;
American Tobacco, 1920; Bay State
Gas, $3.50; Chicago Gas, 3S,4S0; Sugar,
SO, 291; Chicago Great Western, 11,135.
LONDON MARKET.
New York, Oct. 20.-The Evening
Posts London financial cablegram says:
The stock markets were idle today but
the tone was steady. Americans were
good and closed quiet at the
best, though the support here is only
professional. The dullest market was
Brazils, which were fat on reports that
the negotiations for the sale Of certain
Brazilian State railways to a foreign
syndicate have been suspended.
1 am informed in credible quarters
that the sale of Americans early yester-
day and today by the Bank of England
is really for Germany, the reason given
being that. owing to the lightness of
many of the soyereigns withdrawn, it
pays better to take eagles at the present
prices. The amount of eagles withdrawn
today was $4,000 pounds sterling and
the total amount of bullion taken was
$4,000 pounds sterling.
A cable from the Financial News New
York correspondent attracts much at
tention here. 1t affirms that New York
banks have loaned to London a large
amount of money on long sterling bills
Evidences of this are very scanty here
at present and wonder is excited as to
how such an operation can pay with dis
count rates here at 21a per cent. Still
the report is not entirely discredited. The
Paris and Berlin markets were quiet.