The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-10-20

deeilhe wis sufficient to cause only a
feeble rally. The closing was barely
steady and the earlier gains were triic.
tically all wiped out. The fall in prices
from the top level reached a point or
over In a large number Of prominent
railroad stocks and in some Of the In
dustrial Specialties ranged from one to
over three points. The railroads rtin-
ming through the Southern region caftie
into some prominence late i'm the day
on account of the general activity and
prosperity OF business i'm that locality
and the relatively larger increase in earn
ings showh by it's railroads. Illinois
Central, Louisville and Nashville, South
ern Railway preferred, Norfolk and
Western preferred and Chesapeake and
Ohio all showed benefit from this cause
and the gains established were better
maintained than at other Npoihts. Indie
vidual strength was shown also by Colo
RADIO and Southern first preferred, Ten
nessee Coal and Iron the international
Paper stocks, Northern Pacific, the
Hooking Valley stocks, New York, Chi
cago and st. Louis first preferred. Am
erican Car, American Linseed Oil and
Chtetigo Terminal. Pullman Palace Car
Company stocks reacted sharply after
its prolonged advance, receding an ex-
treme nine points and losing four and
half points net. Consolidated Gas fell
four and half points, but partly re-
covered.
The local traction stocks and Sugar
were sharp sufferers in the late weakness.
The reaction was as much without ex-
plantations as yesterdays advance and
could only be attributed to the closing
up of professional operations.
Call money ruled at per cent, for
most of the day, but stiffened to q per
cent before the close. The coming bank
statement is the subject of surunise and
observers are unable to figure ON any
Improvement The movement of money
to the interior shows some falling OFF,
but still continues in that direction ON
balance, and the course of New York
exchange at several important points
continues downward The siib-Tredsury
has taken money from the bands and
the applications for anticipated interest
on Government bonds have proved en-
tirely insignificant With no gain i'm
cash resources from any source, the
condition of the banks can only have
been strengthened by further CON
traction of loahs. The actual rate for
demand sterling bounded IMP 12c. today.
Cotton bills continue exceedingly scarce
and the demand for exchange quite large
The demand is attributed in part to the
requirements for remittance on account
of the conversion of Central Pacific se
eurities. The possibilities Of gold ex-
ports depend upon how much further
this demand shall extend. The rate for
demand sterling Dis now only 1lc under
that which gold went out earlier i'll the
year
There was a notable broadening in the
bond market, many qtriescent issues COM
ing into activity The tone was gener-
ally strong. Total sales of bonds tpar
valuel $2.120,000.
United States SIS advanced Is in the
bid price.
The total sales of stocks were 427,S0O
shares, including: Atchison preferred
24.1S5: Burlington, 1900; y. l.. and
Western. 1865: Louisville and Nashville,
L. 125: Manhattan. 11.530; Metropolitan
!. 500: Northern Pacific. 14,025: Reading
first preferred. $500, st! Paul, 1850;
outhern Pacific, 22.410: Southern Rail
way preferred, 900: Union Pacific,
1850; American Steel and Wire, g.
400; American Tobacco 1880; Brook
lyn Transit, 63,34O; Federal Steel. $3.50;
Sugar, 46,690; Pullman, 1887; Peoples
Gas, 1920; United States Leather, s.
S07; Tennessee Coal and Iron, $3.50.