The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-27

ness caused some feverishness in the
speculation at this time, as the accept
ance of such bid by the government
would endanger the whole plan of re-
organization in spite of the assertion of
the committee that they were prepared
to carry it out even if the government
should bid in the Pacific. But late in
the day reports form Washington as
sumed quite a definite form that the
Cabinet had resolved to accept the COM
mittee's intended bid as minimum
guarantee and withdraw their request
for permanent foreclosure sale of
the line. fall Of S1a points in the
price of the Kansas Pacific consol skies
trust receipts was the forecast of the
news received later from Washington
that the committees agreement with the
government included an assent to post
ponement of the Kansas Pacific sale,
presumably with a view to giving the
government an opportunity to secure a
bid on this property that would provide
for a part or the whole of its claim.
AS the chances of separate bid on the
Kansas Pacific are considered remote
the price of the consol skies rallied per
cent, and closed at 90. Trading in
Union Pacific absorbed over a quarter
of the total sales of all stocks. Outside
of the Changers, Sugar, Chicago Gas
and Bay State Gas business was of
very small proportions. The tone Of the
market was strong, however, and mate
rial recoveries from yesterdays decline
were made averaging a point in the
Changers and other leading stocks. Bay
State Gas was weak. Decline in rates
for call money and some very favorable
statements of railroad earnings for the
third week in October assisted the re-
covery. There were purchases for Lon
don account Of some of the fayorite in
ternational stocks, incident to the settle
ment day on the London Exchange This
neryed to keep up the price of Louisville
in spite of the continued decrease in its
earnings on account of the yellow fever
quarantine. Pittsburg, S. G. and st. l..
was active and strong and rose at one
time two per cent, but reacted slightly. |
Michigan Central was conspicuous for an
advance of 23i The latter tone for
Americans in London was taken as a |
rejecting decline of apprehension over
the Spanish relations with the United
States.
Dealings in railway bonds were not
large but the tone was firm with the
exception of the Kansas Pacific bonds
above noted. Total sales, $1,150,000. |
United States new As were advanced
Is bid.
Total sales OF stocks to-day were 246,-
700 shares, including G. 3. and O., o.
$50; New York Central, 6,151; Northern
Pacific. preferred, 9,235; Rock Island, |
1895; st. Paul, 1S,499; Union Pacific, |
60.910; Bay State Gas. 14,160; Chicago
Gas, 16,015; Sugar, 500.
LONDON.
New York, Oct. 26.-The Evening |
Posts London financial cablegram says:
The stock markets opened dull but
closed firm. Americans were quite a
dollar above the lowest, with a good I'M
dertone. Money was dear at the settle
ment, because of the general rise in
but the account was really
quite moderate. Contangos on Ameri-
cans were about AZ per cent, though
leaders at one time tried to exact more.
In spite of the dearness of money and
a possible rise in the Bank of England's
discount rate this week, the outlook for
the market is. not altogether unfavor-
able.
The Paris and Berlin markets were
lull.