The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-12
THE NEWS OBSERVER TUESDAY MORNING. SEPTEMBER l2 1899

We're a few spots in the railroad list that
We're relatively firm; notably Louisville,
Southern and Union and Northern Pa
cific The bears seized the opportunity
of the prevailing depression to put out
extensive short lines. BROOKLYN Rapid
Transit was a notable sufferer and was
raided down TO within "a of the recent
low level and Within ID of par. The
stock closed only a fraction above the
lowest. Metropolitan Street Railway
was also acutely affected and lost AZ
on the day. Tennessee Coal and Colo
RADIO Fuel rose in the early dealings
hut fell ? points below Saturdays level
before the close. Sugar was only slightly
affected. American Steel and Wire, Re
public Steel, both common and PREFER
ed. Tin Plate preferred, Continental
Tobacco, Pullman, National Steel, Man
haitian Elevated and Peoples Gas were
especially weak. The net losses on
most of the active railroad stocks range
between / and points. The quotations
for odd lots ranged above Il full lot
quotations in most cases, indicating the
presence of bargain hunters during the
decline. THE market totally ignored
the tendency to recovery on foreign stock
markets. although London bought some
10000 shares in the early dealings.
Call loans were made at 80 per cent
soon after opening, but quickly rose to
6 per cent and then to 7 per cent and
even 8 per cent, dropping to ; per cent
after the days needs had been practi-
calIy all met Possible measures or
relief for the money market were the
subject of discussion in all circles. The
leaving on deposit of payments for taxes
is considered the most available relief,
and the presence in Washington of an
influential financial leader was gener-
ally believed to be with the object or
urging such measure. The present
high price of Government bonds, which
must be deposited with the Treasury by
the banks as security for Government
funds left on deposit with them, is
possible drawback to this plan, though it
is asserted that the banks viii be able
to borrow Government bonds to use
for this purpose. The sterling exchange
rate failed to yield in spite of the tight
ness of money and buying for London
account but exchange on Paris did
fall a fraction.
United States bonds were unchanged
in bid quotations.
The total sales of stocks were CSC,
600 shares, including: Atchison. 5000;
Atchison preferred, 5O,750; Chicago
Great Western. 11,050: Chicago. Bur
lington and Quincy, 1920; Chicago
Rock Island and Pacific. 7,475: Louis
Vile and Nashville, 5000; Manhattan
Elevated. 33, $50; Metropolitan Street
Railway. 1925; Missouri Pacific, $3.50
Northern Pacific, 11,300; Pennsylvania,
$3.50: Philadelphia and Reading first
preferred. 10,550; Chicago. Milwaukee
and st. Paul. 1850; Southern Pacific,
29,550: Union Pacific. 11,610; Union
Pacific preferred 9,015; American Steel
Hoop, 1850; American Steel and Wire,
1850: American Tobacco, 20224;
Brooklyn Rapid Transit. S3.250; Colo
RADIO Fuel and Iron, 23,05O; Continental
Tobacco. 10 1870; Federal Steel, 1860;
Federal Steel preferred, 5000; National
Steel, J.425; North American Company,
$500; Peoples Gas, 1925: Standard
Rope and Irvine. 596; American Sugar
(ex-dividend), 1885; Tennessee Coal
and Iron. 1876: United States Leather,
Clio; United States Leather preferred,
500.