The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-29
STOCKS AND BONDS.

New York. Jan. 2S-Today's market
showed signs of struggle by the Dulls
to sustain prices while they were taking
profits. They were moderately success
full and sold large blocks of the stocks,
which have been recent speculative IA
voritcs without producing any marked
decline elsewhere in the list. Northern
Pacific, preferred, is the only one OF the
recent favorites which shows net
gain for today, hut the declines i'll the
others were not sufficient to uncover
any large number of stop loss orders.
The sharp gains in special stocks at
different times during the day were
evidently due to manipulation for the
purpose Of sustaining the general mark
ct. This, together with the higher
range of prices reported from London
this morning kept stocks well above last
nights level during the early part of
the day, but the closing showed an
easy tone with prices generally at the
lowest. New York Central was conspi-
cuous, under realizing presusre after the
opening, and closed at ~ lower than
the days high point Kansas and
Texas, preferred, showed an extreme de-
cline of ~, and Rock Island one of
full per cent. Heaviness of the gran
gers group was an additional factor III
the decline. the December statements OF
st. Paul and Burlington with the small
increases shown i'll net earnings hay
ing an unfavorable influence on the gen
eral list. London sold on balance in
this market several shares of stocks,
especially of New York Central. This
added to the heavy tone to quite Il
marked extent. Still another factor on
the side Of the reactions was the weak
ness in the anthracite group declines in
some of its members reaching a point.
The local New York group added the
weight of its weakness to the burden
of the bulls Exchange hardened frac-
ton for demand. and in response to-
London's continued selling of stocks
here. The announcement of the with
drawal of 10000 pounds sterling in
gold from the Bank of England for
shipment to the United States was
without any effect here Reports from
London during the earlier dealings here
showed prices for Americans higher
and the market quite active, the speech
of the President last night being as
signed as the cause. The anticipation
of this speech has been used sew
eral days by the bulls in Wall street,
and the realizing today after It's de-
livery was in accordance with the usual
practice of professional traders.
The business in the bond market con
tinued on a remarkable scale i'll prices,
generally are higher. There were sim
gle transactions in par value of 100000
and $4,000 of the Union Pacific pur
chase certificates; of $4,000 of Atchi-
son adjustment As and of 100000 of
Erie prior As. Total sales S5,3OO,OO0.
United States old As registered X
higher, bid; the new As II higher. bid,
and the old As coupon and the rs Isl
higher.
The total sales Of stocks were 473, 900l
shares. including Atchison, preferred.
1909; Chicago. Burlington and Quincy,
- $40: Den. and Il. e., preferred, g.,
10; Louisville and Nashville, II, 49,
Manila ttan L., 14,320; Missouri Pacific,
1910; Missouri, Kansas and Texas,
preferred, 1850; New York Central, 81,
$3.50: Northern Pacific, 25,345; Northern |
Pacific, preferred, 1851; Chicago North |
Western. 9,170; Rock Island, 30,S2S;
st. Paul. 1850: Union Pacific, 29,5S1 |
American Tobacco, 5,215; Chicago Great |
Western. 1900; Peoples Gas, 10,005;
Sugar, -246S1,