The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-23

mated that over $4,000 shares were
taken for London account. Denver and
Rio Grande preferred was a favorite In
both markets on predictions of a 2 pei
cent dividend which later materialized.
Union Pacific issues were absorbed on
rising prices for both foreign and do
nestle account. A pool apparently con
nected with prominent interests seemed
in control in this stock in the local trad
ing. There were no new developments
in the property except that good show
ing was forecasted for the November
statement to be presently issued and the
continued association of the property
with the Alton deal in which other
roads as well are supposed to be inter
ested. Realizing sales by certain large
interests although causing reactory
movement early in the day seemed to
have been well taken, considering their
volume. Then evidence Of scale buying
and conspicuous purchases by two pow
erful interests resulted in an almost
buoyant tone before noon. There was
covering of shorts who have expected
a reaction which failed to appear to
any extent thus far because of the large
absorption of securities by the public.
There was pronounced strength in the
Changers. Rock Island crossing III by
Il handsome fraction while st. Paul
ruled around 11S and Burlington 1913.
The movement in these and other stand
ard dividend paying stocks had a health
full influence elsewhere, where bull lead
ers were successful in stimulating the
movement. RumOrs of favorable devel-
opments aided some hitherto neglected
issued, Minneapolis and st. Louis second
preferred. sold at the highest price since
the property was reorganized. Tobacco
and Sugar displayed exceptional weak
ness mt one time, but recovered Subse-
quently in sympathy with the late buoy
ant speculation. Baltimore and Ohio
shares suffered from realizing c0nSe-
quent upon yesterdays substantial i'm
provement Missouri Pacific after pc
Rod of heaviness rallied 3 points on ru-
mors that a dividend declaration was
not improbable. Federal Steel continued
its advance, the common rising 3 points
on the favorable trade situation and
the belief that powerful interests were
supporting the stock.
The bond market was Irregular during
the early part of the day, but subsc-
quently moved generally upward in sym
pathy with the stock market.
United States IS advanced Il and the
new As and the old As, coupon. adj
vanced IA in the bid price.
The total sales of stocks were 1893,
100 shares, including: Clio. Atchison;
30, 700, Atchison preferred 1852, Balti-
more and Ohio; 25.500, Central Pacific;
25,570, Burlington and Quincy; $3.50,
Denver and Rio Grande; 1860, Denver
and Rio Grande preferred; 10,4S5. Lake
Erie and Western; 500, Louisville and
Nashville; 5000, Minnesota and st.
Louis: 800. NJ X. and r.; 1920, NJ. X.
and Y. preferred; 1880, Northern Pa
cific: S2 900, Rock Island and Pacific;
69.200, Union Pacific; 34,294. st. Paul;
1850. Southern Pacific; 1855. Texas
and Pacific preferred; $1,000 Uni
ted States preferred; 1886, Internal
ional Paper; 1920. American Spirits
M'fg Company; 1000, American Spirits
preferred; 5000, American Tobacco;
1880, Bay State Gas; 11S.720, Federal
Steel; 30,55O, Federal Steel preferred;
1880 Peoples Gas; $3.50, Colorado
Fuel and Iron; 6,752, Pacific Mail; 2S.-
$40. Tennessee Coal and Iron; 29,020,
American Sugar; 1880, United States
Leather; a. 700, United States Leather
preferred; 1920, Chicago Great Wess
tern.