The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-29
STOCKS AND BONDS.

New York May 2S.-To-day's market
was marked by intense dullness through
out almost the whole of the session, dur
ing all of which prices were very firmly
held, so that the lively demand in few
stocks to cover just at the close carried
them substantially above last nights
close. Doubtless a part of this buying
was in anticipation of a covering move
mnetwmchih
ment which may develop at to-morrow's
short session of the exchange, in view of
Monday being a holiday, thus leaving
an interval of two days before trading
shall be resumed. The dizziness of tn
trading is an indication of underlying
strength as there were some unfavorable
factors to hammer the rise and holders
offered to hold with confidence. The
principal factor in the dizziness was the
unfavorable effect upon the whole tone
of the speculation, of the official an
nouncement of the Il. and o., receivers
that there would be default III the inter
est payments on some of the bonds COM
ing due on June l. This action has been
anticipated for several days and the COM
pany's securities have sold down accord
ingly. But the effect to-day was none
the less marked both here and on the
London market for Americans, which
were entirely neglected. Some of the
selling here for London account was due
to the same cause There was no posi-
tive weakness in the market, but the
weight of semi-sta gnation prevented val
ues from beneftting from several favor
oh inf
continued weakness of the exchange mar
ket which, though somewhat tirmer than
Yesterday, failed to recover sufficiently
to induce the expected further shipment
of gold by to-morrow's steamer. But the
imports of dry goods at this port for the
week shows an increase over last weeks
in value of over 500, 900, indicating that
the import movement S again expanding
winh an Influence, necessarily on exc
hange. Chicago Gas, the leader of the
market in the volume of transactions, was
quite strong on renewed hope of benefits
from the Illinois legislature, and rose to
IL above last nights close in the final
dealings. There was a marked disposition
to cover in the anthracite coal stocks,
thus eliminating what has been per-
sistent element of weakness in recent
markets. The strength manifested by
the grangers, a rise in Sugar and the
firmness of the Gould shares, were
other influences that helped to carry
prices very generally above last nights
level at the close, and to leave substan-
tial net gains in few stocks.
The total sale of stocks for the day
amounted to 11S,51S shares, including
American Sugar, $500; Burlington and
Quincy, $500; Chicago Gas, 1880;
Lead, $500; st. Paul, II, 200; New Jer-
sey Central, 10,700.
Railway bonds were relatively more ac-
tive than share values and more de-
cided tendency was evident towards a
higher plane. Fractional gains were
noted in the speculative issues except for
Texas Pacifs seconds, which exception
ally gained a point. American Spirits 5s
were amrked by a decline of 212 per cent,
with a subsequent recovery Of 2 per cent.
Several losses were also recorded in
few other inactive lines. The sales were
81, 100000
Government bonds showed an improved
tendency with the old As gaining slightly.
The sales were $4,000