The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-11-04
STOCKS AND BONDS

New YORK. NOV. D 4 lie opening deal
ings in the Stock market We're very AMI
mated and the course of prices was
upward. Continued activity by the VAR
ious pools was apparent III the stocks
which have advanced within the last
few days. Heavy realizing was In evil
dence at a very early period in the
trading, the snap being soon taken out
of the upward movement. The volume
of the selling was much below the best
prices, but the demand also fell off and
support seemed to be withdrawn from
the manipulated speciaities. The course
of prices was generally downward for
the rest of the day. One or two efforts
were made to check the decline. but
without great effect. The bears made
no great demonstration until the final
hour. when prices touched the low point
of the day. Covering by the shorts raj
lied prices, but they were not well held
and the closing was rather irregular.
and very dull. The general level Of
prices is lower on the day, but there are
a few exceptions. United States Leath-
err continued a conspicuous figure in the
speculation and was rushed up an ex-
IRENE 81 points to 1924 and closed %
ed company with its junior after rise
of nearly Il point, and was decidedly
weak for the rest Of the day, declining
an extreme 32s, with final rally of u.
Dealings in Southern Pacific continued
on a very large scale, but the stock at
no time rose more than 3s above last
nights level American Sugar dropped
a point, rallied two points and fell again
below last nights level. Manhattan on
the contrary rose over a point, but fell
again to Ill and rallied but feeDly
Standard Rope and Irvine opened up
% and then turned downward an ex-
IRENE 2H. Brooklyn Rapid Transit also
developed weakness early in the day and
went below 50 at one time. In the first
five minutes of trading over 1000
shares of Chesapeake and Ohio came on
the market with only a slight impress
sion on the price. These examples indi
cate the prevalent disposition to take
profits for the long account The ma
jority of railroad stocks was Singularly
neglected with the exception of some
early demand for the SouthweSterns,
which gave way in the late weakness.
During the first wo hours of trading
ed in st. Paul. There was some sell
ing for London account, but it was
well absorbed during the early period of
in this market. The reac-
tionary tendency was due to the grow
ing apprehension of an unfavorable bank
statement tomorrow. Money was not
stringent but was firm at from per
cent. to s per cent. The banks have
lost on Sub-Treasury transactions some
50, 6S1 900, after allowing for receipts
of $1.000,000 in gold and Government
interest payments, and including $780,
600 deposited at the Treasury for
transfer to the interior. According to
compiled by the leading
banks, they have madenet shipments to
the interior by express of nearly $1,000,
600. This would indicate a net loss to
the banks in cash of over S4600,000
The clearing house institutions have call
ed loans on large scale during the.
week, so that this loss in cash is offset,
in part at least. Last Saturdays state.
ment was believed to have made a more
favorable showing than was warranted
by the actual condition of the banks,
and the yagaGies of the average system
may throw some of the unfavorable fac
tors over this weeks statement.
The bonds after some early show Of
strength yielded in sympathy with
stocks. Total sales tpar yalue) 1880
600.
United States 2's advanced 1ac, the 3's
NC and the new As 1sc in the bid p,ice.
The total sales of stocks We're 635,70
shares, including Atchison, preferred,
1925 Chesapeake and Ohio, 20,175;
Chicago Great Western, $3.50; Chicago,
Burlington and Quincy, 1880 Manhat-
tan Elevated, 20,650; Missouri, Kansas
and Texas, preferred, 6,100; New York.
Ontario and Western. $3.50; Philadel-
phia and Reading. first preferred, $40;
Southern Pacific, 122, 795; Southern
Railway, 5000; Union Pacific, 5000;
Wheeling and Lake Erie 1861; Ameri-
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can Steel and Wire, 9,T12; American
red, 2S,19S.
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