The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-02-24

deliberately arranged b. the use Ct 'Ee
calsle to establish a higher range "I
prices in London over the holiday.
There was personal buying here at the
opening designed to the same end but
not even the first quotations were up to
the London parity. Gains were speedily
wiped out by the slump which followed
the abandonment of the professional at
tempt to sustain prices. The uncOverlng
of margins and selling orders to stop
losses brought a food of stocks on the
market. Sugar led the break with Il de-
cline of over points after rise of Il
point and fiuctuated feverishly all day,
closing near the lowest at an extreme
decline of over three points. The local
specialties were also centres of weakness.
Great Northern preferred dropped off
points. The weakness of the morning
was inspite of large buying in this mar
ket for London account. Estimates Of
the volume of this buying ran as high
ms sixty Thousand shares of stocks.
The London market and the continental
exchanges showed an improved tone on
the subsistence of apprehension regard
ing the West African situation but there
was a significant decline in London and
Paris in the Spanish As, the closing
prices in London showing loss of Is as
compared with Mondays closing.
The days net loss has exceeded :
points in only q few of the standard
stocks, but were over 3 points in some
of the specialties. The outlook in the
money market is not such as to encour-
age speculation. Call loans were made at
per cent to-day. Currency continues 10
move to the interiCl, and the sub-treas-
ury had n credit balance at the Clear
ing House to-day of $l.72.ol6, renect-
ing the Withdrawal of another ten per
cent inStallment of the governments de-
uosits of the Union Pacific payment.
Foreign exchange weakened only slightly
in face of the large London buying Ot
stocks. The decline in exchange on
Paris was more marked. The development
offers some confederation of the report
that a portion of the money which is
going from Paris to London on account
of the disturbed condition of affairs liz
the French capital is going into Ameri-
can securities Standard Oil hquidating
certificates are now dealt in on the eX-
change. but in the outside market to-day
they sold at $40 as against 800 at the
opening to-day. Before the recent ten
per cent dividend distribution the stock
sold at 44S.
Bonds We're weak in sympathy with
stocks. especially i'll the speculative is,
sues There were very heavy dealings
in the Union Pacific As.
Total sales $4,275,000. Government
bonds were decidedly weak. United
States new As registered declined "a;
do. coupon u the old As registered, the
SIS and rs "A bid.
The total sales of stocks were $4,000
shares. including Atchison pref, 10,260;
Canada Southern, 5,165; C. & o., 6,435;
c. B. & O.. 27.119; l.. & n. 1860:
Manhattan L.. 29.161; Metropolitan st.
Ry., $3.50; Reading LIST preferred. 6,630:
No. Pacific, $3.50; New Jersey Central,
$3.50: New York Central, 5000; North
ern Pacific. $500; do. preferred, 31,729;
Chicago Northwestern. 5,941: Rock Is
land. 1O.S24; st. Paul, 44,626; Union
Pacific. 14,506; American Tobacco. @.
451; Peoples Gas. $500; Sugar, 1905;
Western Union, 11,720.