The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-15
RALEIGH PRODUCE MARKET
STOCKS AND BONDS.

New York, July 14-The security mar
ket continued to exhibit strength on
widely distributed dealings. The Grang-
ers, the usual market barometer, on IA
yorable crop adyices scored marked gains.
St. Paul common crossed 50, which price
it has not touched in ten years. The
preferred also made new record, reach
ing 1403s, while Northwest, preferred,
equalled yesterdays top price record of
165. London unexpectedly changed its
attitude on st. Paul to-day from per-
sistent seller to buyer and marked it
up y above the New York equivalent at
yesterdays close. This was regarded as
foreign covering of shorts. The Coalers
weakened up from their accustomed
lethargy repeated yesterdays progress to
a higher plane of value. This was large
~ in sympathy with the Philadelphia
market for Lehigh Valley. Reflection
over night had convinced the traders
that with disappearance of Lehigh Val
ley as an independent factor in the coal
market this trade would be managed in
such manner as to produce the best
results for the interested corporations, as
lesser companies would find it profitable
to work in sympathy rather than assume
a hostile attitude. Thus they argued
would be accomplished a harmony where
previous schemes of the past, including
| . Central selling agency and Reading
lease, of other companies had failed.
Then the soft coal strike, il it continues,
will cause an increased demand for the
hard product. Susquehanna and West
ern preferred passing "a easily, led the
advance in this group on rumors gradual
ly becoming more definite, that the stock
o.. 81
other coal road. Wheeling and Lake
Erie preferred, and Cleveland, Lorain
preferred, were bid up point each,
while Hooking Valley also improved.
Thus the action of the bituminous coal
roads indicates market belief that the
strike will rehabilitate the entire indus
try. On enormous transactions, Sugar
alternately rose and fell on more or
| less favorable news percolating from
| Washington. The delay in announcing
an agreement by the conference commit
| tee was taken as confirmation Of opposi-
ton on the part of the House leaders to
| any yielding to the Senate conferees.
| The stock opened down about a point,
| fuctuated widely and closed at about
| initial figures. Friends of tobacco adj
| vanced it 2h and the scrip 8, giving as
| q reason that the stock had not yet gone
| upward with the general movement. The
| Gould shares were stronger. East River
Gas rose gu to S4h, record price
The Market closed as it opened, active
| and strong at a moderate general i'm
provement, more notable among the spe
| sialties. The total sales Of stocks to-
dag were 27S,1OO including Chicago, B.
and o., 1850, New York, Susquehanna
and Western, preferred, 1906; New
York Central, 5,2SS; Northern Pacific,
preferred, 6,995; Reading, $4,000; Rock
Island, 1851; st. Paul, 41,625; Ameri-
can Tobacco, 81 1893; Chicago Gas, 500;
| Sugar, 9,4S3.
| Trading in bonds was quite animated
| the aggregate sales slightly exceeding
| 100000. The bulk Of the transactions
were centered in the low priced securi-
| ties with decided inquiry apparent for
the Oregon Short Line issues. Liens
of recognized properties as a rule have
come into favor and noteworthy appre-
citation in values of these mortgages
have recently been registered. The mar
ket exhibited quite hardening tendency
with the changes substantial in a num-
Der of instances. The principal gains
were: Denver and Rio Grande SIS Az
per cent; Oregon Short Line incomes
series A,11a; Brooklyn Transit SIS IL;
G. and o. class A, rs, and Standard
Rope and Irvine incomes and Fort
Wayne Seconds / per cent. Govern
ment bonds were generally firm with
transactions trivial
| Atchison. l2& Northwestern IIrx