The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-21
STOCKS AND BONDS.

trial engrossed the largest share OF atten-
ton on the Stock Exchange to-day and
Registered another sensational decline
in Il long progress downward. On JAN
nary 10 of this year this stock sold for
1924. and on March LIST at 81. To-day
the stock was sold in large quantities at
69L. and the extreme decline for the
tfay was 33s. and in two days it has
fallen r55S per cent. The trading in rhe
stock was ut this very animated, but
a large portion of the sales were made III
small lots, many successive sales of lOO
hare lots being recorded with decline
of Il or even II on each SALE. This caused
cedence to be given to allegations OF IN
side liquidation which served to help ON
the decline For several hours support
seemed forthcoming for the stock at va
rious stages but the effort was abandoned
after short intervals and it fiuctuated H.
regularly for the rest of the day, and
down to 69A. closing at 20. The sales
for the day numbered 36, 700. The de-
preston of such a weight on the market
affected the whole list, the other coalers
naturally showing the greatest sympathy
as being subject to some OF the same
conditions that have impalred New
Jersey Central finances. They closed
slightly above the lowest, the extreme
declines being Lackawanna and Delaware
and Hudson. 21s each. and 5. and W.
preferred rs per cent. The general list
from the opening of the market showed
the effect of the more serious phase as
sumed by the Cuban question at Wash
ington. Americans were depressed in
London. and this was said to be due in
part to early sales there on New York
orders. New York opened down
to about the London parity. But
there were not lacking evidences
of e recuperativc power in tn
market during the day, especially
in the Changers and the Railway list
generally. tine possible developments in
the Cuban question being viewed with
comparative equanimity. The market
was also relieved of yesterdays heavy
weight of Chicago's gas sales, the price
Of that stock rallying to small extent,
ON the decision of the Illinois Legislature
to reconsider it's adverse vote on the con-
solidation bill. New Jersey Central and
Chicago Gas together We're credited with
81 900 out of a total Of 10000 shares
of all stocks sold. With the sales of
| Burlington, st. Paul and Delaware and
Hudson added to these, there were two
thirds of all sales accounted for. Losses
/ Of a point occurred in Tennessee Coal and
Iron and United States Leather, prefer
red, the former ON decreased earnings,
shown by the April statement and the
latter on the unfavorable trade outlook.
In the late dealings Metropolitan Trac-
ton scored gain Of pa on n judicial
decision favorable to the company's right
to change the motive power on certain
OF its lines and affirming that the city's
rixht to take over the tracks at a certain
ersdned sum had iapsed through misuse.
Railway list moved very narrowly,
and closed with slight changes. Slight
net losses were general throughout the
list. m
The total sales OF stocks for the day
amounted to Isl ,9O1 shares, including
Burlington and Quincy, 1920; Chicago
Gas, $4,000; Delaware and Hudson,
5000; Manhattan, consolidated, 1920:
ST. Paul, 1880; Tennessee Coal and
Iron, $500; New Jersey Central, $3.50.
Railway bonds were well held during
the greater part of the day, and some
marked gains occurred, despite extreme
heaviness Of the stock market. Toward
the close, however, generally easier tone
developed, and values of some of the
prominent mortgages were lowered
fraction. Lehigh and Wilkesbarre fives
were exceptionally depressed Az per cent.
to 751a. The aggregate sales were $So4,-
600. Governments were dull but steady
throughout. The sales were $1,000.