The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-30

ferred, continued TO advance on wei
defined rumOrs that an additional dlNl-
icnd is in prospect. Denver ana ITO
GIandd preferred, Northwest ana a
number of less prominent stocks showed
notable gains. These clements of
strength served to sustain the market
and to countelact some tendency 10
siuggishneSs and heavincsS in the gpner-
al list. 50 that net gains were achieved
in most stocks, though they are small
outside the special eases mentioned.
Quotations from London this morning
showed some depression in the market
for Americans there, which was attribu-
ted to the apprehension awakened in
the British mintS by yesterdays vote on
the Teller resolutions, in the Senate.
The week opened with continued
tendency toward Il reaction and the
hesitating tone in the early dealings
on Monday gave way to very positive
weakness upon the announcement that
the Maine had been ordered to Ha-
vana. This sharp decline seemed to
clear the speculative situation by giving
the shorts an opportunity to
cover and by shaking the weaker
narrow margined holders who
were regarded as a menace TO
the success Of any movement for an adj
vance The character of the buying
at the decline made it 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
earnings have been. as Il rule, very fa
vorable. notably Northern Pacific and
PENNSYLVANIA, published today, the lat
ter being 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 inn
proved financial condition shown by re-
ports for the year thus far
The bull 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
markets advance was helped very ma
terially by the large buying for London
account ON Tuesday and Wednesday,
hut the almost equally heavy selling on
the succeeding days from sthe same
source made it evident that the specula-
ton was only for short turn.
The tone of the money market has
worked easily Notwithstanding the with
draWal from the banks of the fnt 10l
pqr cent installment of The govern
nrentN deposits of Union Pacific pay
ments. 1t is evident also that the in
creasing abundance of money and ease
of fnc iS nj baf I'M,
ports of gold. as the supply Of exchange
is constantly increasing. and rates for
money in London and Berlin are again
hardening. Net gains in the general list
extend mp to ; points. and in the spec
ialties. to 14H in Lake Shore. and 61a
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
par value of over S26.000,000. bust
ness in that department of the exchange
exceeded all previous records. both for
week and for month on the business
thus far in the month. The extreme
gains have been somewhat reduced by
profit taking. but prices are materially |
higher on the week.
United States old tours coupon are
* higher bid: United States old As
registered. and new As coupon II high |
er. and the IS IL higher bid.
The total sales of stocks today were
POI, 800 shares, including Chicago, Bur
lington and Quincy, 1867; Louisville !
and Nashville 24,270: Manhattan L., |
5.120: Missouri. Kansas and Texas, pre-
fcrred. 6,340; New York Central 20 |
500; Northern Pacific. preferred. 1876:
st. Paul, 10,640: Union Pacific. $3.50; |
Peoples Gas, S,051; Sugar, 90S0.