The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-26
RALEIGH COTTON MARKET.
RALEIGH PRODUCE MARKET
STOCKS AND BONDS.

New York, June 25-Many thousands
of shares of stocks were bought on the
stock exchange to-day at prices materi-
ally above last nights closing price, the
advance extending to point or over Ill
many prominent stocks. But the market
sold off later in the day on account of
apprehension caused by the large volume
of the gold shipment by to-morrow's
steamer, $2,300,000 in all being engaged
for export. Additional uneasiness was
caused by the fact that the whole amount
was taken from the United States sub
treasury, or from the assay office, in bars
and no part from the banks or from
private sources, as has been the case
with most of the recent shipments. The
decline in the price Of stocks, which re-
suited was very marked, offerings to
realize being very freely made for time
and the heavines extended all through
the list The decline, however, brought
dullness and diminution Of offerings,
Indicating the undertone of strength in
the market. The weeks gold shipments
now amount to $4,S00,000, which is a
larger amount than has gone out in any
one week since the first week Of the
present movement, that ending May 3,
when the exports were S9,OOO,OOO. The
subsistence of apprehension on account of
gold exports in the stock market has
been mostly due to the stability shown
by the gold reserve in the United States
Treasury for several weeks past, about
S144 100000 in face of continued exports
of gold by exchange houses. The amount
of gold in the Treasury at the close of
business yesterday was S142,7S3, 4S6,
which is considerably less than at any
time since the present gold movement
began. OF course, to-day'S additional
withdrawals of S2,300,000 do not appear
in the above statement of gold in the
Treasury. The sterling exchange market
was easier under offerings of bills against
the gold shipments, sixty day bills re-
ceding II to 4.S6. But it is expected thai
there will be sufficient demand to stiffen
exchange rates next week with further
gold shipments as a consequence. The
supply of exchange in the market is, in
fact, very meagre and any extra demand
has to be met by gold shipment. The
volume of dealings to-day was larger than
on any previous day of the year, the
, total sales of all stocks reaching 31S.000
shares, but nearly two-thirds of that
amount was absorbed by Sugar. the
Changers, Chicago Gas and Bay State
Gas. Sugar and the Changers led the
advance, but the list generally reacted
to below last nights close showing net
losses on the day. Sugar, however.
rallied partially, and closed with a net
gain of ~. Rock Island is the only one
of the Granger group to show net gain
which amounts to *. Manhattan and
Western Union gained "a net each and
New York Central a small fraction.
Northern Pacific was weak on rumors Of
halt in the arrangement for putting
into executive control those in harmony
with Great Northern interests. Union
Pacific reacted on the action of the Uni
ted States Senate committee in favor Of
suspending proceedings to sell the United
States interests to a syndicate.
The total sale of stocks to-day were
31S,172 shares, including American To-
bacco Company, $500; American Sugar
Refinery, 80 800; Burlington and Quincy,
So, 700; Chicago Gas trust receipts, 49,
600: Manhattan Consolidated, $500;
Missouri Pacific, 5000; Northwest, 49,
900; Northern Pacific, preferred, $500;
Omaha, 74O0; Reading. TOO; Rock
Island, $4,000; st. Paul, 37,100; Western
Union Telegraph, 1890.
The bond market displayed consider
able animation to-day, the transactions
exceeding 100000. The buoyancy was
was apparent in variety of issues with
some sensational advances noted in the
usually inactive mortgages, particularly
Missouri Pacific collateral SIS, which rose
IL per cent to So. The low priced bonds
generally displayed aggressive strength
with purchases Of the gilt-edged liens by
investment interest rendering to accent
uate the upward movement which has
benin evidence for a long time.
Governments were slightly higher on
transactions, a block of 100000 of the
fve's coupon changing hands at 11412.