The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-17
RALEIGH TOBACCO MARKET.
STOCKS AND BONDS.

New York, June 16.-To-day was
marked by a continuation of the heavy
profit taking which was a feature of
yesterdays trading, and though the day
closes with the prices of many of the
most prominent stocks below yesterdays
closing prices, the average decline is
small showing good resistance to the
large selling. There were times during
the day when prices rose sharply above
yesterdays closing, but the higher level
invited realizing in each instance. There
was a continuance of the good commits
sion house buying which has been a
feature for some time past, and which
sustains values with remarkable firm
ness The short interest, however, seems
practically eliminated from the market
and the needs of this element, which
usually serve to strengthen an upward
movement, were not a factor. The
utter dullness of the dealings in London
on account of the jubilee festivities also
withdraws a stimulating factor. The
announcement that Japan had filed a
protest at Washington against the an
nexation of Hawaii, now in process of
negotiation, had an influence on the sell
ing to some extent, though this influence
was largely sentimental The movement
of special stocks had a sympathetic eff
feet on the market, which was
more important than that of
general conditions. Sugar was strong
on the votes of yesterday in the Senate,
dispoSing of the sugar schedule, but was
later depressed on the news that the
treaty for the annexation of Hawaii had
been signed by Secretary Sherman and
the Hawaiian representative. The sell
ing on this news was based ON the pre-
sumption that the sugar company would
derive from the abrogation of the Hawai-
ian reciprocity treaty and the imposition
of Il tariff on Hawaiian sugar.
This stock was dealt in to-day ex-
dividend. Chicago Gas was also very
active all day and showed the effect Of
large purchases by inside interests. The
extreme range of these two stocks was a
fraction over point. The transactions
in them absorbed fully one-third of the
total sales. The coalers advanced early,
Delaware and Hudson to the extent Of a
point, but the bears opened their batter
les upon the group quite freely and
worked recessions in New Jersey Central
of points, Delaware and Hudson rs
and the Reading shares nearly point.
Bay State Gas and East River Gas
rose over a point and East River, pre-
ferred, points. Leather, preferred, also
advanced quite strongly, IA, but re-
acted subsequently. Cleveland, Cincin-
| natl, Chicago and st. Louis, preferred,
| broke to 63 compared with 20, the last
sale. The stock is very inactive and the
fall is due to the passing of the dividend.
| The early advances were fractional and
the declines were enough in excess to
leave fractional net losses all through
| the hist. The decline extended to Il
point or over in Northwest, Louisville,
Missouri Pacific, Susquehanna and West,
| ern, preferred, Northern Pacific, pre-
| ferred, Tennessee Coal, Western Union,
st. Louisville and San Francisco, End
preferred, st. Joe and Grand Island, LIST
preferred, and Laclede Gas, preferred,
~ net.
The total sale of stocks to-day was
| 233,5 shares, including American SUI
| gar Refinery, $4,000; Burlington and
| Quincy, 14,300; Chicago Gas trust re-
| ceipts, 81 400; Louisville aud Nashville,
$500; Northwest, $500; Northern Paci-
fc preferred, $500; Reading, 800; st.
Paul, 12,200; Western Union Telegraph,
100; New Jersey Central, 100.
| The bond market displayed little fea-
ture, but values were well sustained for
| the leading shares during the greater
part of the day, with some of the less
active securities conspicuous for material
| improvements. The final dealings in the
speculative issues tended lower in sym
pathy with the heaviness of the share
speculation. The sales were 81 ,267 900.
Governments were quiet but firm.
The transactions were $4,000.