The news & observer., 1897-07-30
STOCKS AND BONDS.

change was strong with generally
wholesome look until delivery hour,
when the bears raided the market on ru-
mors of unfavorable crop advices from
the Dakotas and that gold exports on
Saturday would be in excess of two mil
lion dollars. causing the close to be ir-
egular at slight recoveries from the low
est. but with the greater number of
shares showing net increases for the
day. Sustaining influences on the market
were favorable traffic statements, rising
quotations for wheat and cotton, with
the engagement of another half million
bushels of wheat from outports. Amer-
cans in London were attracting a broad
ening interest. London buying and sell
ng some $4,000 shares here. AT the same
time the continent in a moderate degree,
purchased Americans in London. The
market was featured by violent fuctua-
tions in the specialties and aggressive
strength and activity of low priced stocks
which hitherto had participated in only a
slight extent in the general rise South
ern and Southwestern groups were excep-
tionally strong. Southern preferred ad-
vanced on foreign and domestic pur-
chases on vague rumors in regard to the
dividend prospects, but the movement
was probably part of that recently dis
played in other Southern securities. On
prophecies that series of bearish inter
views with sugar people would be pub
lished. Sugar. which had risen to 1884,.
was forced down to 1871. but rallied a
point. In the late trading it was claimed
that sales had been made Of Dutch granu-
lated for September shipment, the foreign
refiners having refused bounties thereon.
so that the American countervailing duty
might be avoided. General Electric adj
vanced tx. the contracts Of the company
placed abroad being favorably comment
ed upon. Brooklyn Rapid Transit devel-
oped early weakness and receded 212 but
rallied point. Susquehanna and West
ern preferred broke a point and a quar-
/ ter in sympathy with the reactionary
movement among the anthracite coalers.
Delaware and Hudson also lost point.
! The grangers. except Burlington and
fractionally. The June net earnings OF
| Burlington were over 100000 above
those of last year, and the same amount
i'm excess of those of last May. This was
| Interpreted as a most favorable showing
A slight rise in silver and the export OF
100000 in gold to Canada were of some
interest to the street. There were ad
vances of point or more in about nine
teen shares with similar declines in sever
Others.
The total sales of stocks today were
444,39O shares, including Atchison pre-
ferred, 42,500; Chesapeake and Ohio
|29,701; Louisville and Nashville, 1000
Missouri Pacific. 9505; Reading, 13,455
Rock Island. 1905; st. Paul, 24,50S
Southern Railway, 6,1O0; Southern Rail
way preferred, "a, ,465; Wabash preferred
Ill ,035: American Tobacco, 1852; Chi
cago Gas, 5,135; Col +. and Iron. 1861
General Electric, 1892; Pacific Mail
6420; Sugar, 27,666; Tennessee Coal and
Iron, 9,645; Chicago Great Western, H.,
go.
The transactions in railway and miscel
aneous mortgages aggregated the largest
total noted in some years, namely So, $40,
600. This included an extensive variety OF
issues, in which improvements of sub
stantial proportions were general, but
the most noteworthy in the middle grade
liens. Purchases for investment account
were freely noted and brisk demand
or the low priced bonds was recorded by
he foreign arbitrage houses.
Governments were in good demand and
improved slightly on purchases of $43,
900.