The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-08-18

these the bear campaign showed conVic-
ing evidence of exhaustion before the
day was over. Sugar ruled above last
nights level during the latter part OF
the day and closed with net gain OIL
49, American Tobacco regained Its
earlier losses, and Brooklyn Rapid Tran
sit. though rather feverish at times, was
higher all day.
The characteristic movement of the
day was in the railroads. The South
ern group and the Southern and Cen
trail Pacific stocks continued to be the
center of strength, with some additions
to the former group over those which
moved upwards yesterday. Louisville
was the leader and rose at one time
nearly three points, its close being
small fraction below that. Southern
Railway preferred continued strong, but
Chesapeake and Ohio Jagged. 1he
Baltimore and Ohio stocks came ylgo-
rously forward into the movement, the
common rising an extreme points ana
the preferred 215 with subsequent frac-
tional reaction. Norfolk and Western
preferred and Mobile and Ohio also
shared in the strength. The buying OF
Southern Pacific was very large ana
evidently by a powerful, concerted move
ment The stock rose 212, and Central
Pacific gained points. There was an
isolated movement in Z. G. G. and st.
Louis stocks, the preferred rising
points to 100. with a subsequent reac-
ton of 215, the common rising IL and
losing the fraction.
Railroad stocks generally are higher,
the gains reaching point IN only a few
cases. The Changers, Atchison PREFER
ed and Pennsylvania were conspicuous,
Northwestern gained "a.
The leading cause of the more cheer
full feeling regarding the values of Sc
curities was the easier condition of the
London money market as disclosed by
the weekly statement of the Bank of
England. The rate for money fell APP
preciably in London today burt still rules
above the bank rate. The bank con-
tinued to buy gold today and to import
it from Germany and the probability is
that if the private discount rate should
fall below the bank rate that institution
would again borrow from the market in
order TO stiffen rates. But the sentiment
tai effect on the New York stock market
was very marked, as increased conf
dence was felt that gold might be with
drawn from London to New York in
case of higher money rates here with
out upsetting the foreign stock mar
kets.
The large increase in st. Paul's earn
ings for the second week in August
in spite of the failing off in the grain
was an encouraging factor.
The bond market did not share in the
increased activity of stocks and changes
were small and mixed. Total sales
(par valued 1,94T 600
United States old As. coupons. adj
vanced u and the IS n in the bid price.
The total sales of stocks were go, 100
shares, including: Atchison, 1910:
Atchison preferred, 36. 1876; Baltimore &
Ohio, 1860; Central Pacific. 1880;
Chicago, Burlington and Quincy. 6.61O;
Louisville and Nashville, %, 100: Man
haitian Elevated, S,400; New York Cen
trail, 10,320: Norfolk and Western pre-
ferred, 6,325; Northern Pacific, 1853:
Pennsylvania, $3.50; St Louis and
Southwestern preferred, 5000: st. Paul,
9,610: Southern Pacific, S4.650; South
ern Railway, S,T26; Southern Railway
preferred, 23.750; Union Pacific, 9,735; |
American Steel and Wire, 800: Ameri-
can Tobacco. 2S650; Brooklyn Rapid
Transit, 3G,750; Continental Tobacco.
1870; Continental Tobacco preferred
500; American Sugar, 70.132: Tennes-
see Coal and Iron, 5000; United States
Leather, 30,297.