The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-07-13

for Missouri Pacific and affected nearly
all the Gould Southwestern group in
sympathy. Not only the stocks, but the
securities of this group of railroads were
affected. Missouri Pacific held the lead
ership of the market throughout the day
and made late advance to 4S3s, as eX-
IRENE rise of 2 points. The motive of
this buying was the Wall Street rumor
of plans for merging the various rail
road properties in the Southwest in
which the Goulds are interested. Good
buying set in early for the Changers.
Pacitics and Atchison, preferred. AMI
after midday New York Central was
suddenly pushed up an extreme 23s.
Large buying of Pennsylvania, at an add
vance Of IA seemed to be associated
with the New York Central movement,
but an attempt was made to connect the
latter with Union Pacific and North
western by manipulating the price of
those two stocks. All of Northwestern s
gain was subsequently lost. The man
ner in which the buying demand pro-
crossed through the railroad list, to-
gether with the upward tendency in
Sugar, prompted the professionals to at
tempt movement in the Industrial
stocks. Leather, preferred. National
Steel. Federal Steel and General Electric
were bid up between 1 and points, and
New York Air Brake made character
istic upward dash of 10 points. Mexican
Central rose quite conspicuously 21a per
cent. under the sentimental influence of
the opening in New York of subscrip-
tions for the New Mexican Refunding
Loan. Sugar, Manhattan and Brooklyn
Transit dropped sharply from the top
figures, and many of the gains in the
lndustrials We're practically wiped out.
Prices of the railroads sagged consider
ably from the top, and the closing of
the market was decidedly heavy, net
gains being only partly retained. phila
delphia Company stock. after selling at
90 Suddenly dropped to 80 in the late
market.
The money was easier today. and con
iidence is felt that the supply will be-
come still more abundant at Il very early
date. Several large loans for the pur-
pose of New Industrial fluctuations are
now released. and the banks are gaining
money from the sub-Treasury. The bull
traders are talking of very favora-
bic bank statement on next Saturday.
although the ; per cent. rate for call
loans which held for the greater part
Of the day does not indicate Il plethoric
condition as yet. The New York Stock
market received some support today
from London, in spite of the continued
heaviness there in other departments.
but n sharp recovery in British consols
and French renteS, late in the day,
the fall in the price of gold in London.
and the advance in sterling exchange
rates in Paris and Berlin today indicate
Il relaxation of the heavy market pres
sure in London.
There was II good business i'm bonds to-
day, st. Louis Southwestern IS, lead
ng the market. Total sales 1886, 900. |
5s reg. Is, while the old As reg adj |
Tanced Il in the bid price.
The total sales Of stocks were 643.292 |
shares, including Atchison. 5000: Atchi-
son. preferred. 5i,910; Chesapeake and
ohio, 21,6S0; Burlington. 1850;
Louisville and Nashville 1925; Man
lattan. 20.4S5: Mexican Central S.420;
Missouri Pacific, 43.625: Missouri, Kan
'as and Texas. preferred. 5000: New
York Central, 11,640; Northern Pacific.
j 40: Rock Island. 1860: Union Pa
fic, 1920; st. Paul, 2S,4o0; Texas and
Pacific, 5000: Union Pacific, preferred.
1000; Wabash, preferred. 5000;
american Steel and Wire, 1900; Fed
raj Steel. 176S3: Brooklyn, 26,57O:
Continental Tobacco. 600; Sugar. %
%: Tennessee Coal and Iron, 1870;
It. Louis and Southwestern, preferred
1910