The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-24
STOCKS AND BONDS.

| SIOCkS AND BONDS.
/ New York, July 23.-Discussion as to
the probability of increased earnings
| benetitting Burlington 212 per cent and
all Changers to the extend, on an aver
age of l per cent rise, although wheat
suffered an approximate average decline
of cents, with decreased engagements
| for export for the day. 1t was argued,
| however, that when the farmers were
enriched by the good prices expected
| for their products they would so eXpend
| a portion of the proceeds that transpor-
| tation channels would be bentitted by
heavy return traffic as well as a large
grain tonnage to meet the demands of
Europe and South America. While their
motives are hardly disinterested, some
| bulls ikened present conditions with
| those prevailing seventeen years back
and would have it believed that the boon
of 'SO-S1 may be duplicated in '91-9S.
London bought some 10000 shares
against $4,000 sold yesterday. These
purchases may have been due to the fact
| that tomorrow is a holiday III London
| and the traders there will have only until
| Monday to cover or carry over stocks
| into the new account The first of next
| week will disclose London's true specula-
transactions there have been short sales
of Americans or liquidations by profess
sional, as British advices are that the
public, for the first time in a year or two,
lis becoming interested in American Sc
curities. Traders here rather ignored
the engagement of S1,300,000 gold for
export, as they were more than balanced
receipts of the precious metal from the
Klondike region and impending imports
of gold from Australia to discharge OBJ
legations for American grain imported
became known.
The customary end OF the week profit
taking sales were offset by foreign and
commission house buying. FOreShadow
ing decided shrinkage in imports on the
enactment of the tariff bill, the weekly
imports decreased for the week a third
of a million, being the smallest amount
in many weeks. Sugar fell off Is, only
on an effort to have it appear that the
sugar schedule. but inadequately pro-
tected the company, and that the COM
pany was to experience increased com
petition. The stock rose 31a points, a
trade journal predicting that insiders
| would disclose riches and prospective
profits after the tariff became a law.
| Subsequently Sugar lost a p point of its
| previous gain. The fact that the COM
pany had advanced the price of soft
| refined sugar may have had some bear
| ing upon the 23s net rise in the common
and III in the preferred. Southwestern
railways on daily increased earnings and
investment securities were in brisk de-
mand. Some shares which figured con-
| spicuously in the recent advance lacked
support and lost fraction, including
| nd RI
Gas. Tobacco was benefited to the
extent Of 1A for the common and 3 per
cent for the scrip by the refusal of New
York States executive to call an eXtraor
| binary term of the criminal branch of
| the Supreme court to retry the Tobacco
| case.
| General Electric sustained loss on
an adverse legal decision concerning the
| trolley arm patent, part of which it sub
| sequently recovered on statements by
officials of the company that the decision
was of no consequence, leaving the net
loss fractional. Rock Island rose
point and a half on the stories that re-
| placing its $54,00O,00O extension and
collateral fives on a lower basis was in
contemplation and ON that assumption
that the divided rate might be restored
to four per cent basis as it was the
| first road to reduce its dividend in the
recent depression.
The total sales of stocks to-day were
397, 195 shares, including Atchison. pre-
ferred, 5,05S; Chicago, Burlington and
Quincy, 3S,797; Louisville and Nash
vile, 12,S06; Missouri, X. and r., pre-
ferred, 1870; Rock Island. 33,O85; st.
Paul, 1856; Texas and Pacific, S,730;
Union Pacific, 1875; American To-
bacco, 1856; Chicago Gas, $500; Lead,
| 1910; Sugar. 57,577; Chicago Great
Western, S,093
Trading in bonds continuing in con-
siderable volume and further substantial
improvement occurred in many issues.
Purchases for continental account en-
braced the more prominent lines. The
aggregate sales were $2,26O0OO.
Government bonds ruled strong on
| light transaction.
| BOND QUOTATIONS.