The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-11-11
hat to-day's decision had also denied

that to-day's decision had also denied
the constitutionality of the law. Ap-
parently this inference was maintained
in the stock market until the close of
trading, although the court distinctly
disclaims that it is passing upon the
constitwtionality of the law as it is not
necessary for the absolute determination
of the question before it. However. the
Wall street Interpretation of the deci-
sion gave a very strong upward impetus
to all stocks affected by the law. The
coalers were most markedly affected as
being the subject of the special suit I'M
der trial and they showed gains extend
ing ITO 3h points in the case of Della
ware and Hudson. Every industrial
stock on the list was also sharply affect
ed by this report in view of the fact
that the statute was understood to be
directed against these great combinations
of capital. Cotton Oil, preferred, was
benefited to the extent of 4 points, To-
bacco 3h, Sugar nearly 2 points, and
others to the extent of point or over.
But the strength of the market was by
no means confined to these stocks,
though the general strength was in part
due to sympathy with them. Much was
made Of the declaration by the Spanish
Prime Minister as to the friendly in
tentions of his government towards this,
and Of the report from Washington of
the satisfaction which seemed to be
felt by the President and members Of
the Cabinet over the Spanish reply to
United States Minister Woodfords
note. Returns of railroad earnings for
the> first week of November showed
a continuance of heavy traffic where
the cotton movement is augmented BY
release from quarantine, and also in the
west, where the falling off in the grain
movement might cause declines in earn
ings. There were quite extensive pur-
chases in this market for Lodon ac
count of several international stocks, St.
Paul, however, being sold for that ac-
count. The whole spirit of the trading
was distinctly bullish and gains of
point or over are frequent throughout
the LIST. Norfolk and Western. prefer
red, shows net gain of "a and Lake
Shore of points. The total sales for
the day were under 100000 shares, and
over onefourth of these were of Sugar,
Burlington and st. Paul.
In the bond market there was consid-
cradle activity, and prices advanced in
sympathy with stocks. Total sales, ST.
100000.
The total sales of stocks to-day were
391.50O shares. including Atchison, pre-
ferred. SITS; Chesapeake and Ohio, g.
015; Burlington. 27.720; Louisville and
Nashville, 1904; Manhattan, 1910;
Missouri Pacific, 10,4O4; New Jersey
Central, 12,50I; Northern Pacific, pre-
ferred, 1855; Reading, $3.50; Rock
Island, 25,045; ST. Paul 39.51O: Union
EDha n
$50; Bay State Gas, 16,T00; Chicago
Gas, 1880; Sugar, 5S,340; T. C. and
l., $40; Chicago Great Western, S,755.
LONDON MARKET.
New York, Nov. 10.-Evening Posts
London financial cab,egram:
The speeches at the Lord Mayors ban
,quet last night had good effect on
stocks generally and all the markets
were strong to-day except Kaffrs.
Americans are steadily rising. There
was a fair but cautious demand for
them here to-day and the close was prac-
tically at the best. with Union Pacific
as the feature of strength.
Gold was in strong demand; 10000
pounds sterling in eagles was sold by
the Bank of England to-day, under
stand. for the continent, but no one
is quite sure.
The Indian government announces
further suspension Of weekly drawings
for at least four weeks. Money is tight
|er. Probably nearly 100000 pounds
sterling has been borrowed from the
bank. thus confirming my former cables
that the market would he more or less
in the banks hands till Christmas.
The Paris Bourse was firm. There
were large dealings in Tinte Copper
Mine. The Berlin market was firm
NEW YORK L,,~,Nt, IN w EST.
a rcnisnn Ct Paul 90 q