The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-04
STOCKS AND BONDS.

New York. June 3.-Prices on the stock
exchange were in full swing upward all
along the line to-day when Samuel u.
Post. Jr an old and popular member OF
the exchange, was seized with heart d's-
ease and expired almost Immediately on
the floor This visitation of death put an
immediate stop ito the trading in stocks
and it was not resumed for nearly two
hours. The volume of business was, in
consequence. largely cuttailed, many ac-
tive operators withdrawing from the deal
ings for the remainder OF the day. The
confidence of yesterday with which all
offerings were absorbed even a large a
mount of stocks which had been bought
for London account and were resold here,
had its effect in London to-day on the
tone of the market there for American
securities. There was active demand and
advancing prices as long as the trading
continued in London and after 1t ceased
large purchases were made here of ia
vorite stocks for London account. The
London buying was the most potent fac
tor in the market, and supplemented by
the sympathetic strength radiated from
some special stocks. it moved prices up
wards to a point materially above last
nights close in the great majority of
stocks. But rush of realiving sales in
the closing transa ctions wiped out the
earlier gains in a great many stocks and
left them Il fraction below last nights
close and at or near the low point touch
ed in a realizing movement earlier in the
day.
The selling to take profits at the close
started in Chicago Gas. which has been
most aggressiyely strong all day, rising
in the final hour to 81, the high point
of the present upward movement. \ fall
of over q point at the close induced selling
in other stocks. Sugar also, which was
the leader of the market with q total Of
nearly $4,000 shares sold, sagged q in the
final dealings and had strong influence
in causing the final decline. There was
manifest all day. in fact, a rather nerv-
Gus watchfulness on the part of the pro-
fessional traders for the movement to take
the highest profits and several notable
selling movements occurred during the
day with this in view. The early slump
in the Rubber shares ON account of the re-
duotion of the semi-annual dividend on the
preferred stock from four to two per
cent led to one of these movements. Rub
Der preferred broke 614 at the opening and
the common preferred stocks moved rath-
err feyerishly all day. But the buying for
London account, the improved business by
the commission houses and the strength
in the specialties all served to give a
strong undertone to- the market. The
covering movement in New Jersey Cen
trail was also an element of strength.
Therefore, while the profit-taking caused
net loss in a majority of the stocks in
the list the decline was small. The
grangers continued in very heavy re-
quest, Burlington coming next to Sugar
in the list with several large buying or
ders executed in the stock.
The total sales of stocks for the day
amounted to 196,071 shares, including
American Sugar Refinery $4,000; Bur
| lington and Quincy 27,700; Chicago Gas
Tr. Rec 25,500; Reading $4,000; Rock
Island 6,1OO st. Paul 14,4OO; Western
| Union Telegraph 6,100; New Jersey Cen
| trail $500: Southern Railway preferred
S,400.
| The bond market displayed unusual
animation, the sales aggregating S2,13S,-
| 600 despite the cessation of trading for
| two hours, occasioned by the demise of
| S. L. Post, Jr. The dealing embraced an
extensive variety Of issues in which
marked gains were generally recorded.
| Considerable amounts of the middle
| grade and speculative issues were taken
| for foreign account and revival invest
| ment demand by domestic interests was
| noted for the gilt-edged mortgages. I'M
provement of lao per cent were scored
| in many of the leading properties and
| there were but few exceptions to the up
/ ward trend of values.
Governments displayed strength and
| gained slight fractions on purchases of
$4,000.