The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-26
LOCAL STOCK MARX EFT.
STOCKS AND BONDS.

New York. Feb. 25.-The market
worked fractionally lower today on
dealings of half a million shares during
the short session. The Philippine Hit-
uation continued to be uscd as Il bear
argument with the professional element
which was largely in control of the
market. There were various runors
afoat favorable to the speciaities in
Guiding Tobacco, Sugar, American
Stcc and Wire, international Silver
and Third Avenue Railroad, but lack
ing of confirmation. Insiders were sail
TO have given assurances that the reg
ular dividend disbursement might be
expected in Sugar and forthwith the
stock rose over five points from The low
est 1t WAS asserted that the Tobacco
earnings were large and tnar the COM
pany was backing those securing con
troll of the Cuban cigar making plants,
but this was IN a measure offset 10y &C.
mails from Union Tobacco Company
sources that there wound be cons,yi-
dation with the American Tobacco
Company which made only Il fractional
gain. Reports of the acquisition Of he
other concerns and earnings gossip were
responsible for a sharp rise in American
s5letI anu w iIts biilg al lIdEllOil III WHICH
was retained. The feat,hv Of The deal
ngs both here and abroad was the
large deman dior New York, Ontario
and Western on the expectation ihat be-
cause of its new acquisitions in the
coal lands the company would profit by
any Improvement in the anthracite
trade. The stock gained 2 points en-
transactions of almost 100000 shares.
In the general market the opening was
hesitating but a pronounced tone soon
developed and prices ran off sharply on
liquidation in the specialties and sue
cessful drives against the Changers, At
Gibson preferred, and Northern Pacific.
Renewed buying of Sugar and like pro.
perties rallied the market, but the bank
statement fulfilled bear expectations.
showing another decrease in reserve of
over 100000 and an increase n loans
of nearly $13.000000 and brought
heavy realizing. particularly among inc
high priced stocks. Toward the close
Sugar and Tobacco started upward
again and the general market tailed en-
Third Avenue which has been extremely
conservative in its movement Until of
late, assumed commanding position
among the erratic specialties, rising to-
day 1912 points to 23S. The rise was at
tended by rsEteration of the various
reports concerning the property which
as yet lacks authenticity. The market
closed firm with a general rise in pro-
gress.
The weeks bond market while some
what irregular showed good undcr-
tone. Striking gains We're made in
many issues which hitherto moved mar
rowly United States new As coupon
advanced "a in the bid price.
The total sales of stocks were J21. 100
shares, including: 9,G70 Atchison; 30
$40 Atchison preferred; $3.50 Central
Pacific; $4,000 Chicago, Burlington and
Quincy: 20,320 Philadelphia and Read
ing first preferred; 7,270 Northern Pa
Gifts; $500 New York, Ontario and
Western; 10,520 Rock Island; S,T23 I'm
ion Pacific: 1910 Union Pacific prefer
red; 1880 St Paul; 14,G95 American
Tobacco; 11,620 Federal Steel; 14.120
Brooklyn Rapid Transit; 81, 40 Ameri-
can Sugar; 1880 Tennessee Coal and
Iron.