The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-22
STOCKS AND BONDS.

New York, July 21.-The stock mar
ket to-day generally was steady to firm,
but at the closing was strong at a better
level for not only the more active shares,
but also for shares usually quiet and
unobtrusive. One of the most potent
influences was two cent extreme rise
in wheat and the export orders of over
a million bushels Of wheat, while yes
terday the enormous quantity of a mil
lion and half bushels were engaged for
export, which is the largest days bust
ness in a number of years. Other infiu-
|ences were the treasurer's continued gain
in gold, favorable crop outlook and pre-
dictions Of the tariffs early becoming a
law. Predictions were not wanting that
this country would have large credit
balance abroad next year, although there
was a possibility of moderate gold ex-
ports seen. Speculative and commission
house orders were sustaining influences
in the local market, while foreign bankers
maintained that recent London sales
were really the liquidation OF purchases
in London for New York account. Top
prices for the present movement were
recorded by Chicago Gas, Rock Island,
Brooklyn Rapid Transit, Lead, Chicago
and Greatwestern and Missouri, Kan
sas and Texas, preferred as we'll as some
less notable stocks. Compared with a
month back, twelve industrial stocks are
quoted to-day at an advance Of over
per cent, while twenty railroad stocks
are up over 21a per cent. This rise, Of
course is a constant temptation to those,
who for several years, have found short
sales at every sharp advance ultimately
profitable but bulls argue that the inn
proving business situation and expected
increase in Railway earnings may carry
the market above the figures prevailing
before the '93 panic. Sugar rose to 14511a,
receded to 1922 and closed with a net
loss OF u per cent. 1t is claimed in some
quarters that the interests most active
in the recent advance of the specially
have realized on much Of their holdings.
but there is no way Of verifying such
rumOrs. Lead was buoyant ON buying
attributed to tariff changes. Chicago
Gas advanced ON confident buying, in
view of the dividend expectations. Con-
solidated Gas broke four per cent, part
OF which it subsequently recovered. The
disturbing feature seemingly was fear
that the consolation of other compa-
MES If it materializes, would lead to
sharp competition. The grangers were
IN particularly good demand, notably
Rock Island, which improved ON reports
OF immense crop results in Kansas and
Oklahoma. Crop prospects also strength
ened southwestern stocks, especially st.
LOUIS and Southwestern preferred and
Missouri, Kansas and Texas preferred.
Hopes OF an early settlement of the
soft coal strike uplifted Tennessee Coal
and Iron although the June report was
far from favorable. Wheeling and Lake
Erie preferred was also benefited by
the former influences. The rise in Brook
lyn Rapid Transit was ON the conviction
that important Street Railway Unions
were approaching.
The total sales of stocks to-day were
3OS,S0O shares including Atchison pre-
ferred 5,515; Chicago B. and @. 14,42O;
Missouri X. and T. preferred 1O.O31:
Reading 1900; Rock Island 1880: st.
Louis preferred 5,133: st. Paul 27.94S:
American Spirits 6,977; Chicago Gas
2S,250; Lead 1901; Sugar 5O,316: r.
G. and l., $3.50.
business in railway and miscellaneous
bonds was in considerable volume at
marked enhancement in values of some
securities. The Central of Georgia, liens
responded notably to the favorable state
ment of the fiscal year and some Of the
active issues received better support