The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-01
STOCKS AND BONDS.

l
manG. 1t became irregular and stand
ard securities eased off some on realiza-
TONS: closing with irregular fractional
changes either way. The London stock
excharsge being closed to-day as well as
Monday, arbitrage brokers did nothing
in this market. Northern Pacific securi-
ties continued in heavy demand with the
preferred rising 1B, it being largely
bought by house regarded as repre-
senting 3mportant speculative interests.
Sugar was quiet and the grangers and
southwes4erns rather Jagged. Room
traders sold grangers because of the
slockened: demand for those shares, on
vague stoties of crop damage.
The total sales of stocks to-day a.
mounted to $4,000 shares including G.
and O., 1926; Missouri Pacific, 6,S04;
Missouri Pacific preferred, 1855; st.
Paul, 9,7OG; Chicago Gas, $500; Col.
f. and L., preferred, 11,116; Quicksil-
yer, 5000; Chicago G.. W., 6,006.
| The stock: market had advanced so
long partly IN anticipation of a settle
ment of the tariff, that the enactment
thereof had no appreciable effect at the
: beginning of che week. Stocks were ir-
regular, but many advances were made
on constant Increase in public interest,
the rise over three cents a b,ashel in the
price of wheat land the enrol sous daily
average, nearly: a million bushels of
wheat engaged for export. A favorable
feature was the falling off of about a
quarter of million in the imports and
commercial agency reviews, showing in
creased business with western jobbers,
compared with last year, and that nearly
every northern city reported improvement
in business. The total transactions for
the week was in bonds, the largest in the
last two years at advancing places. I'm
favorable features were the tagging of
the iron market behind the improvement
noticed elsewhere and the closing of
many cotton mills, and especially the ex-
port of about $4,00000O in gold Gov
eminent bonds reflected the public con-
fdence in making top price records
while stocks and bonds long neglected
were active at higher figures. notably
those of south and southwestern rail-
ways, owing to present crop estimates
and already improving traffic. Alto
gether the market was: broad and MANY
top records were scored Reports of
earnings, both weekly and monthly. gross
and net, were generally pleasing, regard
less of the existence OF the great bit
iminous coal strike.
The scope of the market was appre-
ciably extended on Wednesday and
brisk purchasing movement embracing
an extensive variety of :shares ensued.
The prominence of certain shares gave
rise to reports that a powerful interest
was operating to enhance values. This
received some credence and stimulated
heavy covering by the shorts Late crop
advlces were more reassueing. Rumors
of possible resumption OF dividends on
certain interna tionally listed properties
caused London to re-purchSse heavily of
foreign favorites and take round amount
Of speculative mortgages. 1.-The anthra-
cite coalers moved systematically but
displayed considerable strength on re-
vived reports of impending deals and eX-
cellent trade prospects. Local gas shares
sharply advanced on the oft gepeated ru-
NOR as to the impending consolidation
of leading companies which lacked veri-
fication from official sources: The feat
ure of the silver market was: the fall in
bars to 26 5-16d in London On Wednes-
day and a corresponding fall to 573s
here with Mexican dollars down to 40,
oil low priced records for the white
metal. On covering of shorts in London
there was partial recovery IN the sill
yer market which subsequently, slumped,
closing 577k for bars and 45H gents for
Mexican dollars.
Money on call was loaned generally at
per cent with some few transactions
at IA and small amounts at per cent.
The supply of time money exceeded the
demand but the few transa ctions report
ed were at unchanged quotations. The
sterling exchange market was strong
and warranted the shipment of about
100000 gold, portion of which was
covered by sales of bills in the open
market. There was also an export of
of 100000 to Canada. The continent
continues disposed to import gold which
goes largely into the bank of France.
Actual business in bankers bills closed
at S4.S7ss for demand and S4.S6H for
sixty days. The changes of two points
and over for the week show % advances,
compared with light stocks showing loss
es.
The bond market during the week has
been characterized by a wide expansion
in dealings which included numerous of
the usually dormant mortgages which
| fluctuated materially. The market gen.
orally displayed aggressive strength on
the development of a pronounced inqui-
ry for investment and speculative. ac-
count which embraced all classes of Sc
curities. Purchases for continental ac-
count were on a large scale but some
of the active issues were sold for foreign
account. The aggregate transactions
were S1S,000,000. The principal adj
vances were. Missouri Pacific Consol
skies, ~ per cent; do collateral SIS q;
do thirds AZ; Flint and Pere Marquette
SIS, Port Huron division IA; Kansas Pa
cifc Consols Trust receipts 65s; do skies
of '95. trust receipts 3; st. Paul, NJ. and
NJ, Montana Central skies, 612; Peoria
and Eastern incomes and Iron Noun
tain stamped SIS, 5; do general SIS 2A;
| Atchison, Colorado and Pacific firsts
Az; Long Island Ferry 413's; and Ore
gon short line incomes, series A A; do
consol fves 21a; Atchison adjustment
4's 3sl; Susquehanna and Western Cen
eral and Union Pacific sinking fund SIS
S%; Standard Rope in comes, Colorado
Coal and Iron skies; Union Elevated
firsts and Wabash seconds, 3; do deben-
lures series B, Kansas and Texas 5s
and Seaside and Brooklyn Bridge trsts