The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-09
THE NEWS AND OBSERVER, TUESDAY MORNING. MAY g. 1885,

| day and material declines prevailed.
and disappointment at the bad showing
of the bank statement ON Saturday secn-
ed to color speculative sentiment.
| Sterling exchange was about steady
and money decidedly easier. Such rallies
as took place were feeble and in each
| instance brought out further sales. ledy-
ing the market. at the end. weak If
about the lowest for the railways, al
though some of the Specialties in thc
late selling movement retained part 81
the advantage derived OH an afternoon
rally.
Abtrage brokers purchased some DO
900 shares during the forenoon'S weak
ness. The market continued fcverish
practically all day. There was forced
liquidation of marginal accounts by com
mission houses.
Some important interests let go stocks
on the assumption that rather Large
responsibilities have been taken Ivy eel
tain underwriting syndicates. The talk
of the formation of a new steel trust
with tremendous capitalization caused
uneasineSs in some quarters resulting
III declines of over ) points in Federal
Steel shares and over , in American
Steel and Wire. The Flower s;ocks
were sold for both Western and local
account, Brooklyn RapidT Transit losing
81 Peoples Gas 3&i and Atchison pre-
ferred ~.
The tenor of the crop adviccs was.
conflicting. but the Changers rccedPd
smartly, Burlington losing over . p3in
@ /, I,,tF
as much. Among the Coalers, Daiaware
and Hudson and Jersey Central were
down n point each. New York Cen
trail suffered loss of "a in connection
with its unfavorablc showing for April,
compared with last year. although this
is partly eXplainable by the carrier date
at which navigation opened last y"nr.
Other weak spots in the railways were
Baltimore and Ohio. Pcnnsylvan;a.
Union Pacific. c. c. c. and st. Louis.
Northern Pacific and Missouri Pac;tic
American Sugar and National Lead warn
among the heavy Industria,s.
Amalagamated Copper sagged on the
curb" which caused Anaconda Mining
to he without support. General Electric,
which rose over point was the con
spicuous exception to the markets weak
ness.
The deposit of S10,000,00O in warrants
against the SujTreasury in local
bank which is managing the transfer
of the Spanish indemnity was taken 20 l,r
the cause of the easier tone i'll money
as this operation had not been expected
until later in this week.
Some sharp declines were effected to-
in, L., I,.r
grade issues only receded moderately
Total sales S2,7J0.000.
United States new Is. registered. and
the old Is, coupons, advanced II, and
the new is, coupons, the IS and the
3's. X in tho bid price.
The total sales of stocks were 1910
400 shares. including: Atchison. 9.OJ0;
Atchison preferred, S09J0; Chicago. Bur
lington and Quincy. 2G,95G: LouiSvjrp
and Nashville. 14,150: Manhattan" T..
30.340: Philadelphia and Reading first
preferred. 1925; Missouri Pacific. 1G.-
$40: New York Central S.415: Northern
Pacific. 1850; Northern Pacific pre-
ferrcd, 7.21J: Ontario and Western. =.
100: Chicago Rock Island and Pacific,
1880: Union Pacific, 1850: Chicago
Milwaukee and st. Paul. "a, 10: South
arn Pacific. 1850; Southern Railway,
$500 Southern Railway preferred, y
)35: Union Pacific preferred, 1f,5l0,
American Steel and Wire, 1850: Fcde
raj Steel $3.50: Federal Steel pro-
ferred. 21.523; Peolde's Gas, 34.G20:
Consolidated Gas. 6,4J0; Colorado Fuel
md Iron. 500; Brooklyn Rapid Tran
sit, iS5.6S5: Continental Tobacco, d
100: Pacific Mail. 1925; Americaa Sugar
4,1So; Tennessee Coal and Iron, S,4i0:
United States Rubber, $3.50.