The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-17

was brisk. arbitrage brokers joining with
the commission house agents to swell the
demand. This represented the working Oft
of the accumulation of orders received by
commission houses over Sunday. London
was buying some of the international
shares at the same time that it was selling
others. As a result of this lively demand
prices bounded lightly upward, new high
record prices for the year being made in
a number of prominent stocks. The
grangers were actively traded in at the
higher level, Burlington showing the
sharpest gain, but st. Paul being most
actively dealt in ST. Paul was the leader
of the list and was quite largely bought
for London account. Burlington toucheu
|99H in the opening dealings, but closed
a point below that. The other grangeIS
moved over a much narrower range, out
closed a little above the lowest. Inc up
ward bound of prices at the opening IN
vited realizing sales. The professional
bears added their utmost efforts. Ihey
had in their favor some reports or crop
damage in the west and the result was
soon shown in a reaction in prices OF the
grangers and soutnwesterns, which had
sympathetic effect upon the whole list.
Prices of many stocks were carried below
Saturdays close Although there was
firmer tone and some slight recQverles,
the market failed to fully regain its tone
before the close and consequently prices
of most of the active leaders of the mar
ket show only slight changes from yes
terday. The net changes, though slight,
are mostly gains, one or two of the gran
gers being exceptions. The undertOne of
strength in the market was again strik-
ingly manifested by the dullness that set
in upon the decline in prices. Sugar again
assumed a prominent part in the deal
ings and touched a new high record
price at 1872, but reacted nearly a
point before the close. Tobacco was also
largely dealt in opening at sharp gain,
but selling off during the day. Chicago
Gas also showed some signs of renewed
activity, but it suffered from the reaction
of the market. Although the early
strength carried many stocks to point
or over above Saturdays close, the gain
was in most cases practically wiped out.
! The Vanderbilt stocks, particularly Ches-
epeake and Ohio and c., c., G. and St.
L., were notably firm all day, closing
near the top. The latter's preferred stock
was bid up five points.
The total sales of stocks for the day
were 413, 161 shares, including: Atchison
preferred, 23,141; Chesapeake and Ohio,
81 $50; Chicago, Burlington and Quincy,
24,25O; Denver and Rio Grande pre-
frered, 10,450; Louisville and Nashville,
$3.50; New Albany and Chicago, 1850;
New York Central, 23,201; Northern
Pacific, S936; Northern Pacific preferred,
1880; Rock Island, $500; Reading, s.
72O; st. Paul, 34.275; Union Pacific, 49,
$50; American Tobacco, 1S,45S; Ameri-
can Spirits, S,270; Chicago Gas, 1920;
Sugar, 3O,10O; Chicago Great Western,
II, APO.
The bond market showed a marked
diminution in the volume of trading as
compared with recent averages, the total
falling short of 100000. The specula-
ton also lacked the aggressive strength,
but the market was fairly well supported
and some substantial gains were regis
tered in the less known issues. The ag-
gregate transactions were 81 $3.50
Governments were heavy and receded
fraction on light offerings.