The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-28
STOCKS AND BONDS.

New York, July 27.-The anthracite
coal shares advanced considerably on
buying by interests always Unidentified in
the movements of the coal stocks. Other
wise the market sustained slight losses
and closed steady. London purchased
some $1,000 shares, while the bulk of the
trading for the home account was sales.
While the carrying rates in London indi-
Gated scarcity of stocks there, to-day's
trading showed that recent sales from
that quarted had been chiefly to take
profits and that there had not been much
short selling there. Local spectators
liquidated considerably to-day, but COM
mission house purchases about equalized
such sales, rendering the market ex-
tremely irregular. The liquidation in
Industrial stock rather unsettled the list.
The giltedged securities declined con-
siderabIy Professional traders hamper
ed the Changers but pool buying subse-
quently caused practically complete
rally. Although to-day's advices reflected
good condition of all the crops, the
bears argued that the weather was I'M
favorabl for growing corn. A large
portion of the reactions of the day was
due to the uncovering of stop loss orders.
This was notably so in Sugar, which
broke sharply AZ per cent from the
opening to 1852 and closed with a net
loss of 25s per cent, the stock showing
no evidence of its recent aggressive sup
port Tobacco moved up to 50, and an
liquidation receded to S1H, but sharing
in the late rally the price was carried up
to S23s. Chicago Gas reacted 23s, rallied
a point and other industrials generally
receded l to ~ points. The Rubber
stocks were an exception to the general
industrial weakness. The common rose
27s and the preferred Z. The strength
in Rubber was partly due to favorable
rumor connected with the property which
were denied too late to have any effect.
Among the leading railways Louisville
and Nashville, on foreign purchases,
was conspicuous for gain of a fraction.
Changes in the usually neglected stock
were quite violent, Chicago and Alton
rising to 157 against $50 on the last
transaction. American District Tele-
graph on the other hand reacted to 81
against the previous quotation recorded
some time ago of 80. The pronounced
strength of wheat and exceeding weak
| ness of silver were incidents of the day.
The total sales of stocks to-day were
393, 450 shares, including Atchison, pre-
ferred, 1886; Chicago, Burlington and
Quincy, 24,417; Louisville and Nashville,
1850; New York, Susquehanna
and Western, preferred, 5000;
New Jersey Central, 7,164; Mis-
souri, Pacific, preferred, 5,03S; Reading,
1887; Rock Island, 23,46O; st. Paul,
1892; Union Pacific, $3.50; American
Tobacco, HOP; Chicago Gas, 16,930;
Sugar, 64,510; Chicago Great Western,
$500.
The bond market displayed generally
good tone, although some light recessions
were made in a few of the leading is
sues. The inquiry for middle grade liens
was quite pronounced, with some mort
cages being benefited by special con-
sideration. The aggregate sales were
S2,360,0OO. Government bonds were in
demand with the new tours coupon rising
to 1861, the best price ever noted. The
transactions were $4,000.