The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-01
STOCKS AND BONDS:

New York, April 30.-Ihe prices Oh the
active Railway stocks scored an average
net loss of about q per cent to-day,
which is probably fair measure Of the
influence upon the stock market OF fhe
heavy shipments of gold to Europe Icy
to-morroW's steamer. Some OF the losses
were heavier and some were less, but IT
was because they were lnf1denced pE
special causes. Bear sentiment pervaded
the market quite generally but the deal
ings were most strictly confined to pro-
fessional trading. Transactions were
small and unevenly distributed. Only
sugar was dealt i'll TO an amount OF w.
600 shares and the total sales were less
than 100000 shares. The fluctuations
were narrow and outside interest III the
market was absolutely dead. The con-
dition of the market for American secur-
tiles in London was equally dull, partly
because tomorrow is a holiday in that
market, The volume already reached by
the gold shipments is unquestionably a
surprise and disappointment to all hold
ers of securities. The Withdrawals of
gold from London for Austria and Japan
for some time past had prepared observ-
ers for a reflected demand here, but 1t
was expected to result in transactions in
the nature of purchases Of gold with a
auid pro quo to cover premium. The
low price at which sterling demand bills
are selling indicates that some such trans
actions are being made, but the large
volume of the shipments shows, also,
that there must be legitimate demand
for remittances to meet adverse exchange
growing out of trade conditions. To-
morrow's shipments will be $4,OOO,OOO,
. making the total for the week $6,411,O OO.
Further shipments of from $7oO,OOO to
S1,OOO,0OO are already announced for
next Tuesday. That this has created a
feeling of uneasiness among capitalists
is obvious from the barometer of the
stock exchange to-day. The heaviest de-
clines were in the coalers and some OF
the industrials New Jersey Central lost
IA, Lackawanna rs and Reading com
mon and do second preferred point
each. Leather preferred and rubber also
: suffered to the extent of IA and tobac-
co, rubber preferred and Western Union
declined point each. In the Railway
list, Northern Pacific showed the heav-
lest decline of ~ and the preferred stock
came next with 1as. Hooking Valley fell
stock. Burlington, Louisville and Nash
vile, Lake Shore, Omaha and Lake Erie
and Western each fell a point. There
/! was fractional rally at the close which
made net declines somewhat less than
these figures. Pacific Mail was an ex-
ception in the market and displayed suf-
ficient strength in the closing dealings to
establish a net gain of a point. Stand
ard Oil sold to-day at 800.
The total sales of stocks was 94,2W
shares, including American Sugar Re
| finery 1880: Burlington and Quincy
$500; Chicago Gas Tr. Rec, $500
! Reading, 1900; st. Paul $500; Western
| Union Telegraph Company $500; New
! Jersey Central 5000
+, The bond market ruled depressed in
; sympathy with the heaviness of the share
! speculation. The losses, however, Were
| not ma terial, except in remote cases
! Some few issues were conspicuous fol-
| strength, notably Norfolk and Western
(, New River firsts, which advanced foul
per cent The sales were $3.50, 900.
/ Governments were active and general
" firm with sales of Sal 900.