The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-11-09


affirm the validity of the contested stat
ute. This rumor induced much selling.
Special weakness was induced also in
the coalers by the very discouraging re-
ports of the condition of that industry
due to over production, cutting Of prices
and the persistent mild weather. There
was not lacking for the stock of Span
ish war scare, which was made to do
duty again to-day. These demoralizing
factors did not begin to be felt until
some slight improvement over Satur-
days close had been effected in prices,
Sugar leading the way. There was
notable improvement also from the low
point before the close OF the day, due to
covering OF shorts and on Supreme
court decision against the Interstate
Commerce Commission as to the regula-
ton of rates under the long and short
haul clause where water rates are in
competition. In consequence Of this
rise at the opening, and somewhat re-
covery at the close, net declines are
much diminished. Spirits preferred was
the first stock to exercise an unsettling
influence on the market, with a slump
Of 6R points on news Of the failure of
the Kentucky distillers combination.
New Jersey Central registered an ex-
treme decline of 81, St. Joe and Grand
Island first preferred Of 8, Delaware
and Hudson and Manhatta and SUI
Cotton Oil, Leather preferred, Illinois
Steel from 3 to 31a each, Burlington, P.
G. G. and s. Louis Missouri Pacific,
Reading first preferred, Illinois Central,
Northwest and other prominent stocks
from 2 to 2A, the latter in Burlington
as being largely affected by the Nebraska
maximum freight law. St. Paul was
quite notably firm on London buying,
and a number Of other stocks were also
bought quite steadily for London ac-
count at the decline. Sugar was very
active throughout the day and was quite
sensitive to attack. Detroit Gas was
a notable exception in the weakness Of
the list with n net gain of ~ points.
Cotton Oil gained 21a net.
Bonds were weak in sympathy with
stocks but steadied later in the day. To-
tai sales $1,550,000
The total sales of stocks to-day were
427 300 shares. including Atchison pre-
ferred, $500; Burlington, 44.430: Louis
vile and Nashville, 1886; Manhattan,
9,055; New Jersey Central, 1890; New
York Central, 7,137; Missouri Pacific,
12.540; Northern Pacific preferred, H.
sos; Northwestern, 5.270; Reading, g.
300; Rock Island, 1910: st. Paul, 49,
40 t45: Union Union Pacific. 11,155: Chicago Gas,
1858; Sugar, S6,90S; Western Union.
6,555; Chicago Great Western, 11,450.
LONDON MARKET.
New York, Nov. S.-Evening Posts
ondon financial cablegram says:
The stock markets were quiet and
In
cause of easier rates and shortness of
stock. Contanges on mines are about
the same as at the previous settlement.
Kaffirs were weak. Australians were
good. The general settlement, to be in
tomorrow, will probably be small af-
fair with slightly easier money. Gold
is in strong demand for the continent.
India is also buying moderately, but at
the present not on exchange opera tons,
but merely the usual demand for the
bazaars.
Americans opened steadier on the rise
in New York followed small and feeble
purchases here; then New York began
to sell the market dropped, closing fat
A few more such days wi probably
entirely end the patience OF so few bulls
as exist here. Brazils were fiat.
Grand trunks were strong on reports
that negotiations are proceeding favor
ably in arranging a new freight route
with the Wabash system. over the loop
lines of the old great western company
and via the New York Ontario and
Western to New York.
The Paris and Berlin markets were
quiet. l am assured on fairly good
authority that it is possible that the
Re:chs Bank may make no further
change in the rate this year.
NEW YORK LLuSIN9 oIuUkS-wEST
81 PAM