The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-15


heavy damage by the gulf storm were
also denied. At the same time the marked
weakness in the exchange market came
into notice, actual rates for both long and
short sterling and for cables receding q
to p per cent. London was also buying
quite freely of favorite stocks
The indications of a prospective in
crease of the balance of trade in our IA
vor led to expressions by foreign bankers
that q heavy gold import movement was
certain to result and was likely soon to
commence. The evidence of the eX-
change market on this point was strength
ened by the hardening tendency of the
money market, call loans commanding as
high as per cent and only a few excep-
tional loans being made below 2 per cent.
Money continued to move very freely
to the interior. AS the general news bear
ing on the business outlook all continued
favorable the prospect of gold imports
proved an available means to turn the tide
in favor of the bulls. At the same time
it was reported from Washington that
the differences between the government
and the syndicate organized to purchase
the Union Pacific had been arranged and
that approval would be given at the cab
met meeting in the afternoon. 1t was on
this account that Union Pacific became
so prominent in the afternoon rise, its
extreme advance being 31s and its net
gain 2%. Northwest and Omaha were al
so notably strong and led to a buying
movement, as on former occasions, in all
the Vanderbilt stocks. ST. Paul also re-
covered from the early depression, adj
yopcol 49, Nnrtharn pooifio nraforrad
rose 2 points. The market reacted to
coupled with the early decline makes
the net gains considerably smaller than
the extreme advance.
The price of bonds fell off at the open
ing. but the market became strong later.
Total sales. $3,1OO,0OO.
United States old As, regular, sold at
II.
Total sales of stocks today were 1884,
900 shares. including Atchson preferred
$3.50; Canada Southern. 1880; Chesa
peake and Ohio. 1O.695; Chicago, Burling-
ton and Quincy. 20,07O: Louisville and
Nashville, 11,4S0; Manhattan l.. 1856;
Missouri Pacific, 1855; Missouri, Kan
sas and Texas preferred, 14,440; New
York Central, 1890; Northern Pacific.
5.175; Northern Pacific preferred ,23.02S;
Northwest Terminal. 14.450: Reading,
9.13O: Rock Island. 1922; st. Paul, 81
1916; st. Paul and Omaha. 3,400; South
ern Railway preferred, 5,S15; Unions Pa
cific, 1850; Wheeling and Lake Erie. g.,
234: American Spirits preferred. 1860;
American Tobacco preferred, $685.: Chi
eago Gas. 1850; Consolidated Gas. s.
800; General Electric. 16640; Ia Clede
Gas, 5,4OO; Sugar. 21,5O0; Tennessee
Coal and Iron. 5,7S5: Western Union.
6.S4S; Chicago Great Western, 6020.
LONDONMARKET.
New York. Sept. 14.-The Evening
Posts financial cable says:
In the stock markets today Americans
opened steady. to become dull under the
New York lead. but later recovered and
dosed firm, with London buying.
Grand Trunk, Canada. stock continues
to advance. Venezuelan bonds have fall
EN- heavily on the default in the remit
lance for service of debt.
There are no particulars yet regarding
the tenders for Indian treasury bills. ex-
cept that twelve months bills, at cot, 5s
3D., receive percentage. The market
and got a fair amount in the
of 11-16.
With a view possibly of assisting spec
ulation in silver. the rumor is revived
that the Indian mints will reopen. This
is not generally credited.
The Paris Bourse was quiet and dull, |
and the Berlin market was dull and fea-
tureless.