The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-05
STOCKS AND BONDS.

New York, June 4.-Ihere were some
room traders ON the Stock Exchange to-
day who manifested occasional timidity
as to the stability of values at the inn
proyement which has been sustained now
for the greater part of two weeks. This
element took their profits from time to
time during the day and their selling had
slight temporary effect by causing
small recessions in the more susceptible
stocks But the offers to realize were alb
sorbed without notable effect on the gen
eral market which remained strong and
firm all day and closed at practically the
best prices of the day, net gains being
the rule which extended to noteworthy
proportions in some of the Speclaltles.
Chicago Gas was the centre of interest
in the market and displayed a continu-
aace of the strength which it has enjoyed
for quite heightened period. A determ-
ined drive was made against this stock
along toward the close of the market,
and apparently with the purpose of eff
fecting a decline in the general market
by inducing sales to realize, as was done
yesterday. The Gas stock, was, in fact,
driven down ia per cent. and some
general list. But there was no such
rush to realize as marked down prices at
the close yesterday and Chicago Gas
more than recovered its loss and market
generally rose to the high point before the
close. The newly re-awakened outside
interest in the market, made manifest by
the commission house buying, was the
noteworthy sustaining interest in the
hot krflo n
the leading stocks upon the smallest re-
cession in price. There was a marked
demand for shares from the shorts in
some of the stocks that have been heavily
sold of late. This was notably so in New
Jersey Central, the stock rising strongly
pa points above last nights close and
gaining points net. The Reading shares
also registered notable gains and were
freely bought There was a co-incident
advance of Lehigh Valley in Philadel-
phia, due to reports of the securing of
control in the company by a large tinan-
cial interest identified with coal by talk
ing up an option obtained some time
since.
Further scrutiny and study of the
Northwest report impaired aggressive
strength to the stock of that company
and, by sympathy, to the whole Granger
group, constituting what is apparently
though figuratively termed back log
to the market. The Northwest's net gain
was ~ per cent. London was much less
of a factor than for several days past,
though there were purchases for London
account in a number Of stocks. These
were probably curtailel ON account of to-
| morrow and Monday, both being holidays
| in London. The Gould shares were under
some special pressure, Missouri Pacific
and Western Union both losing a frac-
| ton ON the day in spite of an increase
| of gross earnings for the fourth week in
| May by the former of $4,000. The en-
| gagement of 100000 in gold for ship
ment to Europe was without appreciable
| effect on the market.
The total sale of stocks today were
| 205, pa shares including American Sugar
| Refinery $4,000; Burlington and Quincy
| 16, 400; Chicago Gas $4,000: Northwest
| 7,4OO; Reading 1900; Rock Island
| $500; ST. Paul $4,000; Western Union
| Telegraph $500; New Jersey Contra
| 10000.
| The strength of the bond market con
| tinued undated and a considerable de
| gree of confidence was noted in the deal
| ings Large blocks of the leading Sc
| curItleS changed hands ana lnVestmen
interests took liberal amounts of the
middle and high grade liens. The con
slant absorption of the active interna
| tional mortgages by foreign interest!
tends to impart a considerable degree o.
buoyancy to the general speculation
which is accelerated somewhat by the
| favorable developments in individual is
sues. The aggregate sales were S2,256,
600.
Government bonds displayed harden
ing tendency with the new As absorbin.
the bulk of dealings. Phe sales wer'
sol 900.