The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-16


yanced a point or more in the days trad
ing. New York Central was heavily
dealt in and advanced IL on the esti-
mated increase in the surplus for the
current quarter of S672,957 and in the
reported increase in the gross earnings for
the first week in September of over
$4,000. Northwest and Omaha also
continued their concurrent advance on
the benefits to accrue from the prospec-
tive increase in Omaha's dividend, the
extreme rise in each exceeding per
cent during the day with reaction on
profit-taking. Lake shore also was talk
en- in hand by the bull element during
the final hour of trading and rushed up
21k per cent, apparently for effect in sus-
tanning the balance of the market. The
same element was instrumental in hoist
ing the price of Pennsylvania, which
has only been listed for short demand
on the New York exchange 3as points,
the subsequent reaction being about 70.
A lump of twenty points in Consolidated
Gas. even though it was on a limited
yohnme of transactions was also SEN
sational feature in the market Inc
recent speculation which has conferred
in Union Pacific continued the advance
in that stock and benefited the price to
the extent of over a point. Kansas and
Texas preferred also continued to man
ifest the strength which has characterized
it in the recent speculation and adj
yanced over point. Reports circulated
of large increases in earnings, turned at
tention to General Electric and that
stock rose at one time nearly two
points. These elements of strength could
not but serve to sustain the market
and the advance of st. Paul and Burling-
ton to new high record prices for the
year were additional factors. But
nevertheless there were conspicuous ex-
ceptions to the strength of the market,
such stocks as Missouri Pacific, Atchi-
son preferred, Northern Pacific preferred,
Louisville. Southern preferredf, @. G. @.
and st. L., and G. and O., tagging quite
heavily in the advance and in some cases
closing below yesterday. A number of
the industrials were cOnsplcuously
weak. including Sugar preferred, Leather
preferred. Illinois Steel Tennessee Coal
and Bay State Gas. Sugar common,
which sold ex-dividend to-day. lost all
of its early gain before the close. The
coalers were somewhat heavy during the
day. but improved slightly before the
close. apparently in sympathy with the
lively advance in o. and W., and S. and
w. preferred. The latter jumped 51h
points and reacted. Chicago Gas and
Louisiana Clede Gas were quite strong.
the former advancing nearly three
points and the latter A points but both
was heard to-day of the prospect of i'm
was heard to-day OF the porspect OF inn
mediate imports of gold. the exchange
market showing steady tone though
very dull and no further hardening of
the rate for money i'm the local market
being perceptible. Exchange is still fully
a cent above the gold import point but
it seems evident that any material rise
in money rates here would be met by
gold imports and consequently by a
check to the advance. One of the feat
ures Of the day in Wall street was sales
of Standard Oil liquidating certificates
ON the curbat351M. which is 91a points
advance over the highest previous price.
The total sales of stocks to-day were
621 .24S shares. including Atchison pre-
ferred. $500: Canadian Southern. 12,500:
Chicago G. and O.. 1880: G. c. G. and
Sr. IT,, 2.120: L and n. $500: Manhat-
tan L.. 5000; Missouri Pacific, 5000;
Missouri X. and T., preferred 14,22O;
New York Sus. and w. 6.200; de pre-
ferred. 6.40O; New York Central 49,
$50: Northern Pacific, $500; do pre-
ferred. 5000: Northwest Tern. 1880;
Ont. and NJ. 32100; Reading, 7,160;
Roch Island, 14.130; St Paul. 1920:
st. p. and O., 10000; Southern Railway.
11,6OO: Union Pacific. $3.50: p. d. and
G., 5000: American Tobacco. 6,400: Bay
State Gas, 31,420; Chicago Gas, 46.30O;
Consolidated Gas. 1850; General Elec-
tric 80. 1875; La. Clede Gas, $3.50; Sugar,
1920.
There was considerable decrease in the
volume Of bond dealings but prices gen.
orally advanced. Total sales $3.50
100.
United States old As were u lower bid.