The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-29
RALEIGH COTTON MARKET.
rYaY urnu NJ ~ Jupn y
RALEIGH PRODUCE MARKET
STOCKS AND BONDS.


New York, June 2S.-To-day's market
for securities was marked by the large
volume of the transactions and the
great animation of the dealings as well
as by the continued strong upward move
ment of prices. The marked exceptions
to the great strength were THE active
stocks which have been recent leaders of
the advance and in which there was
heavy realizing to-day. This realizing
was to a large extent by the professional
element and represented simply trans
fer of holdings from stocks which have
moved freely upward to others that have
Jagged in the advance, their calculations
evidently being that the advance of the
laggards is merely deferred. Such a
transfer was made ON a very large scale
from Burlington to ST. Paul. The latter
stock has not moved as freely as the
other Changers and Burlington's relative
price has come up from below that of
st. Paul to several points ahead of it.
This has led professional traders to take
their profits in Burlington and to trans
fer their holdings to st. Paul. The jump
in the price of st. Paul at the opening
invited some sales of the stock by the
arbitrage brokers for London account,
which served as partial restraint on its
advance. Similar manoeuvres to this
transfer were executed at other points in
the list. Considering the proportion of
this liquidation the prices of the stocks
affected were singularly firm and steady
and even strong in some cases. A re-
dictionary tendency was induced at one
time in the market generally and the
ever watchful bears again believed their
opportunity had come and sold stocks,
some prices receding below Saturdays
level. This was notably the case in Bur-
lington and Northwest. The total sales
of all stocks were nearly 435, 900 shares,
which has not been exceeded nor equalled
since the three days following election
last fall Beside the extraordinary vol
ume of the transactions their wide dis
tribution was a noticeable feature. The
dealings were disseminated all through
the inactive list and even the soft coal
roads, whose values are at the lowest ebb
as a group of any on the list, came in for
share of attention, Hooking Valley en-
joying rise from 21a to 3ss. Sugar
showed very aggressive strength all day
and gained 35s net. Chicago Gas was
also very strong and advanced 27s. The
onl peculiarities of the market otherwise
were the stocks whose prices declined.
| Net gains were the rule and extended to
point or over in Brooklyn Rapid Transit
21b, Lead, General Electric, Chicago and
Eastern Illinois, Z Long Island, 4; Den
yer and Rio Grande, preferred, Illinois
Central, Oregon Short Line, st. Paul
and Rock Island and 2. c. G. and St
Louis, preferred. East River Gas and
Consolidated Gas, 2ss each. Colorado
Fuel lost IL with subsequent recovery
Illinois Steel declined 2A without rally
on account of prospective labor troubles.
Bay State Gas, Norfolk and Western,
preferred, and ST. Louis and San Fran
cisco list and End preferred are also
down fraction.
| The total sale of stocks to-day were
432, 2S2 shares, including American To-
bacco Company, 1900; A. t. & s. f.,
l7,1OO; American Sugar Refinery, 60, 400;
Burlington and Quincy, 25,600; Canada
Southern, 10000; Chicago Gas trust re-
ceipts, $4,000; General Electric, $500;
Louisville and Nashville, 10000; Man
haitian Consolidated, 5000; Missouri
Pacific, 6,100; National Lead Company,
I7,1OO; Northwest, 800; Northern Pacific
preferred, 500; Omaha, 5000; Reading,
II, 600; Rock Island, 21,3O0; st. Paul,
59,4O0; Western Union Telegraph, H.
800; Southern Railway, preferred, 13, TOO.
The brisk demand apparent for railway
and miscellaneous mortgages was re-
lfected in substantially higher prices for
many issues on transactions of So, 160,-
900, of which about 81 100000 was dealt
iiin during the first hour of trading. The
purchases Of the high grade securities
were characterized by material fiuctua-
Itions, st. Paul gold sevens and @. G. G.
and Indianapolis registering an extreme
rise Of per cent each. The gains else
IMhere in the market were less noteworthy
Round amounts of the high-priced liens
were taken for investment and specula-
tive account with considerable conf
ldence, with the foreign interests absorb
ing offerings of the International proper
ties. Governments were quiet but dis
lplayed firm tone with some issues inn
lproving slightly. The sales were $4,000.
BOND QUOTATIONS.
Il q uTFS-