The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-11
STOCKS AND BONDS.

New York, Dee. 10.-The market was
booming to-day, and on enormous trans
actions for the short session many high
record prices were exceeded for the
current upward movement. London fol-
lowed Americas upward lead of yester-
day, and was buoyant on st. Paul's ex-
cellent statement for the first week in
December Large interests were again
aggressive. Immense blocks of stocks
ext hanged hands with bun ant purchas-
ing orders TO care for realizing sales.
After a hesitating movement activity and
strength became general again in which
standard stocks were well maintained.
All the Changers advanced from slight
fraction to over Il point, the latter ia
st. Paul. Heavy purchasing orders
were placed over night in Missouri Ia
ciic to buy at the opening. Prominent
interests in the stock endeavored to open
it up as high as possible and the ticker
recorded simultaneously sales of 1900
shares from 43 down to AZ. Yesterdays
closing prices was 413s. 1he stock be-
trayed little feature after the first
furry, but continued to be actively
traded in ana closed well up to the
top. Among the industrals General
Electric. Sugar Tobacco, Rubber, Fede-
raj Steel, preferred, and Edison Illumi-
mating were the features and gained
a point or more. The rise in Edison IL
Eliminating amounted to points and
three each in General Electric and Rub
Der preferred. The Atchisons too, were
conspicuously strong The market
closed at the best with whirl of bull
ish enthusiasm.
For the week stocks, almost without
exception, rose In son G C SEES, the gains
were very large, and established new
high records in the present movement.
During the week railways which failed
for some time to respond to the upward
tendency, later joined fully with the
general trend of prices. Early in the
week telegraph and cable communica-
ton partly interrupted by the storm
somewhat restricted business, the vol
ume of which subsequently became
enormous. Traders saw fit to interpret
the Pesident's message as not being
the bull agument they had discounted;
but it's better reception abroad thwarted
their efforts at depressing prices. There
was much in the general situation hay
ing a favorable bearing on market con-
ditions. November gross earnings were
in excess of four per cent over last
year; exports, too, surpassed the phe-
nomenal record of last year and bank
clearings were next to record figures.
The bond market displayed unusual
activity during the week, with the con-
centration of the dealings in speculative
and middle grade issues, which have re-
Gently assumed prominence. Consider
able strength was manifested through
out with the net improvements material
in many cases.
United States old as, registered, adj
vanced q, the seconds, registered, and
the old As, coupon, Ii; new As rs in the
bid price.
The total sales of stocks to-day aggre-
gated 400, 700 shares, including: Atchi-
son preferred, 31,S64; Chesapeake and
Ohio, 1910; Chicago Burlington and
Quincy, 1865; Louisville and Nash
vile, 1880; Manhattan, 7,445; Metro
politan Street Railway, $3.50; Missouri
Pacific, 27,705; Northern Pacific, 6,736;
Rock Island, 1886; st. Paul, 3L,475;
Southern Railway preferred, $3.50:
Union Pacific preferred, 9,310; Tobacco,
10,720; Federal Steel preferred, 30,725;
Pacific Mail, 10,250; General Electric.
5,220; Western Union, 6,425.