The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-04

fore the opening IL WIS dISuVu AhaI
Yesterdays market showed that re-
action was under way, but it was cop
tended that the forces resisting de-
cline. in the absence of extremely nm
favorable news would not likely allow
prices to reccde very far. The absence
of decided tone TO the early market
was in part due to the expression of
prominent bull leader that the market
had tired look, but the people did not
know what 10 do with their money and
If The market resisted n week or two one
per cent money would be probablc. The
market opened rather irregular, and
such strength rs there was in 1t dlS-
appcared under professional pressure.
There was an absence of support from
large interests, and realizing set IN
which gave the bears encouragement for
Il vigorous demonstration which after
a feeble rally resulted in many stop
loss orders being caught. II was said
on the floor that heavy selling came
from Washington, and the rumor gained
currency that the ratification of the
peace treaty was in jeopardy. The
market felt the effect of the heavy reali-
ling that tooa place last week and this.
The lowest prices of the day were
shortly after noon. The Changers were
down from 13S in ST. Paul 10 2l2 in
burlington. the CoalcrS from l1a in New
Jersey Central to ~ in Reading first
prcfcrred. In the PaciticS the range
was from IA to 2la, the maximmp
loss in Southern Pacific. N the special
ties the decline was even more pro-
nounepd ranging from about points III
Sugar and Tobacco 10 > in New YORK.
Air Brake. The declines were very gen
cra and embraced almost everything OF
consequence. Large orders appeared
when the bear movement appeared TO
have lost its force. and liquidation
quickly ceased. The bull leaders took
held of their various Specialties and
helped the recovery, which continued
to the close with only n mo-
melitary slight recession of profit taking.
Traders generally took the long side for
a tnrn on the idea that much of the
weak held stocks had hen transferred
to stronger interests. Standard Oil
stock dropped from $50 bid last night
to offered at Az on curb to-day with
transactions of 40 and then rose to
49,.
nc Dbhtt HifiIhtI HitIutu ~ lnputiflI-
cally with stocks. but did not display
much recuperative power when the
stocks rallied. Total sales S4,460.000.
United States new rs, coupon, de-
clined X and the IS advanced a.
The total sales Of stocks were 931, 400
shares, inclEding: 1920, Atchisons So
800, Atchison preferred: 1920, Central
Pacific; 14,1S0, Chesapeake and Ohio:
II $3.50. Denver and Rio Grande: 5,J45.
Denver and Rio Grande preferred; b
100 Illinois Central; 17.020., Louisville
and Nashville; $1,000 Manhattan IL:
1920, Metropolitan Street Railway:
23SS0, Philadelphia and Reading FIRST
preferred; 12,147, Missouri Pacific: T.
$40, Missouri and Kansas and Texas
preferred; 12020, New York Central:
33 ,020, Northern Pacific; 1880 North
crn Pacific preferred; 9,710 New York
Ontario and Western; 10000. Philadel-
phia and Reading; 14,020. Chicago. Rock
Island and Pacific; 16.020, Union paci-
fee 23,300 C. NJ. and ST. Paul; 21,2T5.
Southern Pacific; 1920, Southern Rail
way; 14,020, Southern Railway pre-
fefred: 1000, Texas and Pacific; 3D.
923 Union Pacific preferred; 10000.
American Tobacco; 11,020, Bay State
Gas; Al, 100, Federal Steel: 1890, Fed
eral tSteel preferred; 1920, Peoples
Gas; 1925. Consolidated Gas: 25,720.
Brooklyn Rapid Transit: $500. Ameri-
can Sugar 22.6I5, Tennessee Coal ana
Iron; $3.50, United States Leather pre-
ferred; 1925. United States Rubbcr D.
020. Western Union.