The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-16
THE NEWS AND OBSERVER TUESDAY MORNING. MAY l6 1899

ferent members of the Flower groul
were opened MP ] to ; points above
SATURDAYS close, the favorftes of the
bate financial dealer, Brooklyn Rapid
Transit and Peoples Gas. leading the
rise. New York Air Brikc, in its usual
volatile manner, made an exceptional
rise Of / | points in the first few minutes
| These aggressive tactics served to dlSSl'
pate any uneasiness in the speculative
mind remaining after the violent tluctua-
tions in Saturdays market. Early quo
tations from London also made it eyi-
dent that there were large reserves
of capital prepared to JaKe advantage
of any further sympathetic declines Ill
| the general hist of securities. The
buying there before the opening here
was not only for New York account. pre-
Sumably with the purpose of support
| ing values. but also on orders from
Scotland, Germany and Holland as
we'll as Il local English demand. The
high opening here, especially in the
Flower stocks invited considerable
volume of offerings, but they were abb
solbed without the slightest hesitation,
and in short time they materially de
creased. The pressure of liquidation be-
ing relieved, the vigor of the efforts at
the support was somewhat relaxed.
Prices having failed to break. the bar
gain hunters were deferred from buy
ing and the market fell into Il quiet
state.
A brisk upward movement in Sugar
to 1J43s and a lively demand for the
Pacifics and the Changers caused Il
general stiffening again throughout the
list. But the smallness of the transac-
TONS discouraged continuance of the
bull speculation, and the market fell
back into comparative inactivity. The
movement of prices became decidedly If
regular, many Of the more obscure Spe-
cialties fluctuating quite widely but in
contrary directions. This was notably
the case among the iron ana steel stocks
Tennessee Coal and Iron, Colorado Fuel
and Iron and National Steel preferred
being notably weak. American Smelling
and the Coalers We're also consistently
weak. This tendency and The apparent
withdrawal of supporting orders invited
a raid by the bears late in the day
particularly directed against Metropoli
tan street Railway, when was raided
down ; points. The Changers and Paci-
fics also suffered in the decline except in
Central and Southern Pacific, which
We're consistently strong. Metropolitan
Street Railway rallied very strongly .
points, the local traction shares re-
spending in sympathy, the bear traders
covered. making the closing firm. The
conspicuous changes were in the Flower
stocks, which all closed higher though
below the best of the day. Otherwise
changes in the prominent stock were not
large. Net gains predominated.
In the bond market there were some
very heavy takings of Baltimore and
OHIO Is when issued. Dealings else
where We're moderate and changes irreg
ular. Total sales of bonds, par value,
S4.1SO,0OO.
United States 3's advanced Il in the
bid price.
The total sales of stocks today were
$4,000 shares, including: 39SJ0, AT
Gibson preferred: 7,400, Central Pacific:
1875, Burlington: $500. Louisville amd
Nashville: 10000, Manhattan S075.
Metropolitan; 1880 Reading first pre-
ferred; 1860, Northern Pacific: S497,
Rock Island: 9,O54. Union Pacific: 3D.,
go, ST. Paul: $3.50. Southern Pacific;
6.2U0, Southern Railway; S,4S5. Union
Pacific preferred: 22,150, American
Steel; 6,414, American Tobacco: 2S.625.
Federal Steel 1850, Federal Steel pre-
ferred: 27.5J5, Peoples Gas: 1919,
Brooklyn Rapid Transit: 9,739, Continen-
tai Tobacco; 30.550. American Sugar: o.
260. Tennessee Coal and Iron: S,47O.
United State Rubbpr