The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-12-14
well distributed. The fact was not

well distributed. The fact was not
to be ignored, however, that the stocks
of Southern and Southwestern roads
which were the favorites with the bulls
last week, did not share in the advance
proportionately, the price being kept
down by liberal offerings. A decrease
in earnings for the first week in Deem
Der reported for Louisville and a some
what unfavorable showing for the same
period by Chesapeake and Ohio may
have accounted for this, but there was
a suggestion of profit taking in the
movement of these stocks in fact of the
general strength manifest elsewhere in
the market. The jump in Sugar to
145H in the course of the first hour
stimulated the whole market. The dis
semination of rumors that an extra
dividend was again under considera ton
>was the instrument employed to effect
Mis- rise, and the motive of it appeared
\ the heavy offerings at the higher
el. The stock closed at a net adj
We of over a point. The government
report with its revised estimate of
vat crop of 530,000,000 bushels
lively outbreak of speculation
Changers. the high ruling price
Vt with this heavy yield to draw
Oe.1uS regarded as lhsuTIiS PioS
perity to the wheat carrying railroads.
Still another element of strength in the
days market was the jump in price OF
Metropolitan Street Railway. This
stock rose nearly five points, to 10,
in strong contrast to the persistent
heayiness in Manhattan, which dropped
at one time nearly 2 points ON account
of the published reports that syndlcates
had already been formed to finance the
proposed underground rapid transit
plan. Manhattan fully recovered before
the close and shows small fractional
net gain Union Pacific showed a
sharp recovery from it's recent depres-
sion on the strength of inspired repocts
that the reorganization could be carried
through with moderate increase Of
proposed bonded Indebtedness and pre-
ferred stock and that the subsidized
portion of the Kansas Pacific was not
'emed essential to the success of the
plan.
The days buying was in large part
professional and commission house bust
ness was on small scale. London was.
however, liberal buyer Of stocks I'm this
market. Quite marked feature of the
lay was the large number of small lots
# dividend paying stocks which wee
'ought This class of buying appeared
in the gilt-edged investment stocks
which rarely move. but also manifest
all through the list of dividend stocks.
\ feature of the day was the stiffening
f call loan rates to 3 per cent. though
Re ate eased off again before the
close.
Net results of the d"v's trading are
verv uneven. net gafns exceeding point
in the Changers. the coalers and Balti-
more and Ohio. hut showing small frac-
tions for the most part in the general
list
The bond market continued active AMI
strong. the Atchison and Northern
Pacific issues being prominent. Net
advances of from l to . points were
shown in a number of bonds. Totll
sales S3,S5O0O0.
United States old As registered We're
advanced "a bid. do. coupon 1s bid, while
the new As declined Il bid.
The total sales of stocks were 340,-
500 shares. including Chicago. Burling-
ton and Quincy, 30,597; Louisville and
Nashville. S.215: Manhattan L., 1880;
Missouri Pacific, S.515; New Jersey
Central, S.SO5; Northern Pacific, S,915;
North Pacific preferred, 21,250; st.
Louis and San Francisco do. first pre-
ferred, 9,730; do, do. second preferred.
e,391; st. Paul, 34,620; st. Paul and
Omaha, 1,15O; Southern Railway pre-
ferred, 7,643; American Tobacco, 5,3lS;
Chicago Great Western, 10,SS9; Union
Pacific tierce receipts. 1880; Peoples
Gas. 11,7O5; Sugar, 1906.