The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-30
RALEIGH COTTON MARKET.
RALEIGH PRODUCE MARKET
STOCKS AND BONDS.

New York, June Z9.-lne market Ior
securities to-day was one to delight the
professional trader, f1uctuation in many
the leading shares being wide and very
active. Sugar moved over a range of
81 during the day, dancing up and down
by spurts and falls much as boiling
alcohol would do in a glass tube. chicago
Gas was almost equally wide in its
fluctuations and was as erratic and even
more active. The range of these two
great centres of speculation was above
last nights close in the early dealings,
especially of Sugar and this tended to
restrain the distinct tendency toward
reaction, which was latent in the mar
ket all day and which finally overcame
the whole list. The London exchange
was first settling down to normal ac-
tivity again after the interruption of
the jubilee festivities and prices there
reflected the opinion Of dealers that the
advance of prices on the New York ex-
change had been more precipitate than
was warranted by the conditions. This
influence was reinforced by heavy selling
here for London account. Prices in the
list generally were feverish, especially the
Changers and sagged to a marked de-
gree aside from special cases, giving
very irregular aspect to the market.
General strength and rally followed the
publication of the Burlington statement
for May showing an increase in net earn
ings of S209, sos.
The lowering of posted rates of ex-
change u cent to 4.S61a for long and ASS
for short bills also impaired confidence,
rejecting the weakness Of the exchange
market and the probability that gold ship
ments would be light or entirely suspend
ed this week. But when heavy liquida-
ton in Sugar and Chicago Gas set in
during the final hour the doubts of hold
ers returned in full force and stocks of
all the leading properties were thrown
over at lively rate in a feverish desire
to realize and prices generally were car
ried down to the lowest points of the
day. A partial rally in Chicago Gas
stiffened prices above the lowest, leaving
final results mixed between gains and
losses. Most of the prominent active
shares show losses extending to Ia in
Sugar, 21k in Standard Rope and over a
point in Burlington, Rock Island, Louis
vile and Manhattan, Northern Pacific,
preferred, developed heaviness on the
belief that the differences between the
Hill interests and the voting trustees
were about to eliminate. The coalers re-
sisted the general heaviness on the in
crease in the circular rates for anthra-
cite coal. The volume of transactions
was almost as large as yesterday.
The total sale of stocks to-day were
$50, 10S shares, including American To
bacco Company, 10000; American Sugar
Refinery, $500; Burlington and Quincy,
| 81, 100; Chicago Gas trust receipts, $500;
Louisville and Nashville, 5000; National
Lead Company, $500; Northwest, 5,400;
Omaha, 14,2OO; Reading, 10000: Rock
Island, 2O,1O0; st. Paul, 4S,600; Tennes-
see Coal and Iron, 10,100; Southern
Railway, preferred, 10000.
| The upward movement in railroad mort
cages was continued with considerable
vigor despite the extreme heaviness of
the stock speculation. The inquiry en-
braced a large variety of issues in which
notably higher prices were recorded gen.
orally. Some few bonds suffered from
| liquidation, particularly American Spirits
ks and do. incomes, which lost AZ and
2 per cent respectively. The sales were
| Sc, 4$5, 900.
| Government bonds were steady at bid
prices and were without sale.