The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-05
RALEIGH COTTON MARKET.
RALEIGH PRODUCE MARKET.
STOCKS AND BONDS.

New York, Aug. 4.-Ihe great major
ity of the sales of stocks on the ex-
change to-day were made at prices very
substantially above last nights clos
ing. But the market succumbed in the
last half hour to sudden selling move
ment induced by profit taking. The
effect was to wipe out nearly all the
earlier gain in most stocks and to leave
the average level of the market but lit
tie changed from yesterday. The sales
of all stocks attained an aggregate of
over $4,000 shares. Dealings in the last
half hour were all at lower prices and
the only stocks to escape the effect Of
the fall were those not included IN the
later dealings. Except or the final de-
cline the market was almost a repetition
of that of yesterday, copiOus purchases
being made of pretty much every stock
in the list. Very many sales of odd lots
were recorded, rejecting the ventures of
small individual purchasers through COM
mission houses. There was not much
discrimination shown in this class of buy
ing, which embraced some of the stocks
which have almost passed out of the
field of attention ON the exchange. A
notable feature of the trading was the
heavy selling for foreign account and the
readiness with which these sales were
absorbed and their sentimental effect
disregarded.
Northern Pacific preferred was the
chief sufferer in this respect as on yes
terday, but all of the interna tionaly
listed stocks were sold by London to
some extent. 1t is estimated that the
total of London's sales reached $4,000
shares for the day. This was almost
without effect on prices here and failed
to check the further fall in sterling ex-
change, which was affected by heavy
offerings of grain bills. London was ap-
parently eager to realize on American
securities, and steadfastly declined to
enter the tempting field for speculation
offered by the New York market. The
industrial group and the gas stocks were
conspicuous again to-day for strength
Consolidated Gas leading and showing
a further net gain of 5. The Changers
were heavily bought and advanced at
one time nearly a point. The final de-
cline left the net gains in these and 9TH
er active stocks only at a fraction. The
Erie stocks, Vanderbilt's and the anthra-
cite coalers were also notable for some
sharp gains. Sugar rose at one time
"a, but closed with only fractional
gain.
The total sales Of stocks to-day
amounted to $4,000 shares, including
Atchison preferred, 9,345; Chesapeake
and Ohio, 1920; Chicago, Burlington
and Quincy, 1895; Erie new, 1O,975;
Louisville and Nashville, 1875; North
ern Pacific, preferred, 1920; Northwest
ern, $3.50; Ontario and W., $500; Read
ing, 21,350; Rock Island, 1850; St
Paul, $1,000; Southern Railway, $50;
Southern Railway, preferred, 1885,
American Tobacco, 1920; Bay State
Gas, 25,570; Chicago Gas. 21,42O; Con-
solidated Gas, $500; General Electric
lilo; Lacledes Gas, $3.50; Silver GER
tifcates, 5000; Sugar, 26,170; Western
Union, 1870; Chicago Gas Works. 49,
900.
Operations in railway bonds were at
tended by violent fluctuations in some
cases, with Georgia Pacific lists and
Union Pacific 41a's. Trust receipts con-
spicuous for advances of 3h to 3 per
cent, respectively. The market exhib-
tied very strong tone throughout with
dealings on heavy scale.
The aggregate receipts were $3,34O, 900.
Government bonds were heavy on mod
crate sales.