The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-15

crs to transfer considerable of their bus
mess to the hands of smaller brokers al
the regular commission between men,
hers. Stocks opened buoyant and active.
High priced records passed unnoticed il
the confusion Brokers fought to exc
cntn orders and simultaneous transac
tions in many shares were widely apart
London had early received large pur'
chasing orders from this side and the
quotations from that quarter showed
general advances. The rapidity of the
rise brought out immense BLOCKS of
realizing sales, but the sustained buying
power of the market absorbed all offer
ings after temporary reaction, ana
prices again went upward. The market
halted momcntarily pending the pubica-
ton of the bank statement, but on its
appearance. showing rs it did increases
of Ship. 700 in the surplus reserve and
81, 0io. 300 loan account, bullish Cnthu
siasm was resumed with violence. COM
mission houses We're easily the largest
buyers. The extreme gains in the Pacl-
fics were only fractional, while i'll the
Changers they ranged from ! III st.
Paul to . in Burlington and in the ac-
tive CoAlcrS from ! to 23S The Gould
and Vanderbilt stocks were compare
lively neglected. except Southern Rail
way. The greatest strength and ac-
tivity was shown in the Changers. At
Gibson. the Readings. Southern preferr-
ed. Federal Steel and Brooklyn Rapid
Transit
Points of heaviness were great North
crn preferred. Illinois Central, Metropol-
itan Street Railway. Lead and LaclPde
Gas. The market closed with some II
regularity but generally strong and ac-
tive with important gains in many cases.
4 noteworthy feature was Il large rise
in Burlington and renewed gossip con
corning the prospective refunding of their
outstanding bonds This talk. however,
was little more definite than usual. New
York Air Brake made an extreme adj
vance of 9 points. while Southern Rail
way preferred and Atchison preferred
were up over > points each and Federal
Steel common, which has lately been
neglected. although reacting from top
prices ended with n net gain of 14S. The
largest trading in any speciality was III
Brooklyn Rapid Transit which had an
initial rise of > points on confirmation
of its acquiring control of the Nassau
Electric Company.
Dealings in the bond market were at
tended with the usual marked variations
in the sPmi-spcculativc issues during the
week. There was i'll general Il disposi-
ton to employ idle capital i'll the stock
trading where the rapid fluctuations gave
promise of speedy profitable return.
Investment houses reported that their
books were filled up with orders for
prime liens and although issues of this
character came to hand through for
cign sales. the absorptive power of the
market prevented any shading in prices.
United States Is advanced u and the
IS and the new As Ii in the bid price.
United States IS. coupon, declined h do
II and the old Is, registered,
II.
The total sales of stocks were 10S, 49,
shares. fncluding: u ,020, Atchison: 3d.
$40. Atchison preferred; 1915, Central
Pacific: 2S,910. G. Burlington and O.:
$50. H. and Nashville: 15,210. Manhat
tan IL; 1920, Reading first preferred;
5000. Missouri Pacific: $3.50. New York
Central; 9TJJ7. Northern Pacific; S,120,
Reading: 26, i20. Rock Island T120,
Union Pacific: 1850. st. Paul: II ,010.
Southern Pacific: $3.50, Southern Rail
way preferred; T,745, Union Pacific pre-
ferred: 1880, American Cotton Oil: 49,
APO. Bay State Gas; 42,240. Federal
Steel: $500. Peoples Gas: 65.420.
Brooklyn Rapid Transit; 10,670. Ameri
an Sugar.