The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-23

lative standpoint were the New England
cotton strike and the possibilities IN
Caina, Cuba and the consideration ny IN"
Senate Of the resolution that government
bonds may le paid IN goal
or SILVER. While no radical legislation at
this time was expected concerning eth''f
silver or Cuba, the professionals hlddc
the most of the situation with Il view 81
bringing about Il reaction ana were Iai-
TALLY successful. At the same tim" the
fore IN markets were Ov%rSllad0WPu ny
tive possibility of the European powers
becoming cmbroiEd over CHINA. On
the either hand there was much to JUSTIFY
an optimistic view on prices. These were
satisfactory trade conditions. imn!%nS"
increases in rairoad receipts, large cX-
rortS, scarcity of failures IN the CONNER
cial world. easy money and the fact that
over four iiftls of the Illinois Cemtrafs
S15.0OO0O0 bonds had been taken for
domestic account. Egypt ard Russia
usually sources of supply for Europe.
were reported to he importing American
corn. Money at this centre was quoted
lower than i'm almost any other part of
tie world, and this alone was supposed
TO impede gold imports ut season when
sterling exchange usually rules pretty
strong. Money continues to gravlta'C
here from the interior of the country, the
banks gaining over S7,100,W0 last week.
The break in the money market was
largely due to the continuance of the gov
crnment& deposits of Union Pacdtic'e
money in the banks
The l\londykele, Sugar and local cor
potations, including gas aud traction
shares, were the active features of E!fF
week at times showing buoyancy but
with manipulation ever present. The
gtangcrs and coalerS generally ruled
heavy.
Railroads located in the extreme north
west and western sections of tn" com-
try largely discounted the expectation
of increased traffic resulting from the
prospective emigration to the newly de
covered gold fields whore they would he
dependent largely upon the United States
for supplies. There were improvements
ranging mp to eight per cent in Oregon
Navigation stock and nv i'm Oregon In
consolS. Conflicting advice
regarding the probable success of the|
Hawaiian treaty were reflected in Sn-
CARS fluctuations. Other Influences on
this specially were statements regarding
The position of insiders, as TO whether
they had leCn acquiring the stock GrI
favored further decline. After cover
ing a range of nearly ; points, Sugar
closed with 4 improvement.
The extraordinary rise since the NUM-
cipal election in METROPOLITAN Street Rall
way was continued, the adyanc" for the
week being 11'h per cent. This Was nc
counted for in published Statements OF
increased traffic owing 10 the completion
of extensions of the system. hut mani
was very prominent in the deal
ingS.
The bond market for the week display
ed a striking degree of strength in special
cases which embraced lines of com
panies operating the Pacific Northwest
Some interest was attached to the spec
ulation in Seattle. Bake Shore andl
Eastern firSts owing to the fight for CON
troll of the property by two leading rail
road systems which was reflected in an
of 1881 per cent in the price
Of the issue The transactions for the
week were S20271 600
Government bonds ruled at slight CON
ccSSions generally throughout.
The total sales Of stocks to-day were
193.00O shares. including G. II. and O..
S. 6a0: Manhattan H.. 1i,S6a; Mctropoli- |
tan Traction. 6.1t5: Northern Pacific, |
s $40; Union Pacific 5000; Peoples Gas. |
) .210: Sugar, 1I02l.