The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-15
STOCKS AND BONDS.

New York. May 14.-The market WAS
under steady and unremitting pressure al
day from one source or another and the
result is "a wide gap in the total yalua-
tion of securities compared with the
close yesterday, which it would require
many millions of dollars to bridge The
only cheerful factor in the market was
some small early buying for foreign &C
counts, which, however, failed to sustain
values, and the exceptional strength OF
the Gould shares. During the carrier
hours of trading the bears harped indus
triously ON the developments in the Cuban
question End the governments propos-
ed attitude towards it. The Washington
adyices were held to foreshadow agrees
siye action by the government, such as
would be likely to embrOil the country
with Spain. When later advices from
the capital indicated the milder charac-
ter Of the measures contemplated and that
they would probably be confined to the
despatch of relief to distressed American
citizens in the island, the bears turned
to the announcement of an additional
shipment of $1,250,0O0 in gold bars by
to-morrow's steamer. This makes the
total for the steamer $2,25O,OOO, where
as the selling Of stocks earlier In the
week was based upon an estimate that
shipments would aggregate $7,OOO,OOO
or $1O,OOO,OO0. 1t is significant, also,
that these shipments were made ON ca
bled orders from Europe, indica .ng the
special character of the demand for the
gold. The volume of purchases Of secur-
tiles for foreign account during the week
has undoubtedly affected the exchange
situation. The decrease for the week in
the value of dry goods imported at New
York of $2O43,2O6 is equally signiti-
cant. The market was, however, under
vague apprehension that there would
come late news Of further heavy ship
ments, and the bears made this an e1fec-
tive instrument for keeping up the depres-
sion. Before any notable rally could oc-
cur. news was received that the presi-
dents of the anthracite coal roads and
companies had received summons from
the Attorney Generals office at Albany
to answer to charges of conspiracy I'M
der the new antitrust laws. Marked
heaviness developed as q result in all or
the anthracite coalers, and sympathy 1n
the entire list especially in the industrlals
which might be proceeded against on the
same charge as that brought against the
coal companies. New Jersey fell to the
lowest price Of the year under this sell
ing. The extreme decline was IN to 1oH.
The fall in the other coalers ranged from
* to 14A. Sugar continued heavy and
declined rs. The railway list generally
sold off large fraction, the grangers
leading. but recovered a portion OF the
loss before the close Rubber preferred
lost ~. The Gould shares were nota-
BILE exceptions to the weakness OF the
market, Manhattan especially showing a
rise at one time of 1B with subsequent
reaction OF y. The gains in the others
were confined to fractions. The closing
was steady, the slight recoveries being
well held.
The total sale of stocks for the day
amounted to 131 800 shares, including
American Sugar Refinery 27,1OO; bur
lington and Quincy II, 100; Chicago Gas
Tr. Rec. 1O,SOO; Manhattan Consolidated
1900; Reading 1000; st. Paul 11,9OO;
New Jersey Central 10000.
Trading was in small volume in the
Railway and miscellaneous bond market
with firmness generally apparent IN the
speculative issues. The aggregate sales
were. $4,000.
The feature of the government bond !,
spcculationSwas the purchase OF "a block |
of $500, 900 of the new coupon tours at a |
slight advance. The general market also
displayed a hardening tendency. The |
sales were S225,OOO.