The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-02-01

ferrcd. continued 10 advance on well
defined ruInors that an additional divi-
dend Is in prospect. Denver and Rio
GRANGE, preferred. Northwest and "a
number Of less prominent stocks showed
notable gains. These clements OF
strength served 10 sustain the market.
and to countcract some Tendency to
SlugglShheSS and heayineSS iii the scner-
Il list, 50 that net gains were achieved
IN most stocks. though they are small
outside the special cases mentioned.
Quotations from London this morning
shovel some depression in thu market
Tor Americans there. which was aftribu-
ted TO the apprehension awakened in
the british minis by yesterdays vote on
the leiler resolution. in the Senate
Inc week opened with a continued
tendency toward il reaction and the
hesltatlng tone in tie early dealings
on Monday gave way To very positive
weakness upon the announcement that
the Maine had been ordered 10 la
yana. This sharp decline seemed 10
clear the speculative situation by giving
the shorts an opportunity 10
cover. ana by shaking the weaker
narrow margincl holders who
We're regarded rs a menace to
the success OF any movement for an adj
vance. The character Of the buying
at the decline made ii very evident that
powerful interests were taking up
heavy lines Of stocks with confidence.
and their aggressive manipulation for
an advance was evident during the
remainder Of the week.
The weeks statements of railroad
earning have been, rs Il rule. very fa-
vorlbIe, notably Northern Pacific and
PENNSYLVANIA. published today. the lat-
ter beng regarded as an especially re-
liable index Of the country's railroad
business. All of the securities of the
Kansas and Texas company have been
very strong during the week on the i'm
proved financial condition shown by re-
ports for the year thus far.
The bun operators made use Of re-
ports in anticipation of the Presidents
speech on Thursday night. and some Of
Fridays selling was due to realizing
upon the delivery Of the speech. The
market advance was helped very ma
terially by the large buying for London
accoUnt on Tuesday and Wednesday.
but the almost equally heavy selling on
the succeeding days from the same
source made it evident hat the spccula-
ton was only for a short turn.
The tone Of the money market has
worked easily. Notwithstanding the with
draWal from the banks of the first 10
per cent. installment Of the govern
ment deposits of Onion Pacific pay
ments. 1t is evident also that the in
creaSln@ abundance of money and ease
Of rates is all that prevents larger i'm
ports of gold. as the supply of exchange
is constantly increasing. and rates for
4noney i'll London and Berlin are again
hardening. Net gains in the general list
extend up to ) points, and III the spec
%ialties, to 14H in Lake Shore. and 615
in New York Central. Kansas and
Texas, preferred, the Chicago and
Eastern Illinois stocks, Rock Island.
Northern Pacific. preferred. and North
west also made heavy gains.
With sales of bonds for the week Of
4 par value of over S26, O00.0 0 bust
ness i'll that department Of the exchange
exceeded all previous records, both for
a week and for a month on the business
thus far in the month. The eXtrcme
gains have been somewhat reduced by
profit taking. but prices are materially
higher on the week.
United States old tours coupon are
q higher bid: United States old As
Registered. and new is coupon Il high
er. and the IS X higher bid.
The total sales of stocks today We're
2O1 500 shares. including Chicago. Bur
lington and Quincy. 1857; Louisville
and Nashville, 2i21O; Manhattan L..
5.120: Missouri. Kansas and Texas. pre-
ferred. G.340: New York Central, 20.
500: Northern Pacific. preferred, 1916;
st. Pail, 1860: Union Pacific, $500;
Peoples Gas, SOL; Sugar, 9,os0.