The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-08-24

the most conspicuous movement of the
day. a deluge of offerings was encount-
cred at about every point up, which
caused a temporary halt, but after the
absorption of these the upward move
ment was resumed. The extreme rise
was over points. Continental Tobacco
stocks rose 3 and over 2 points respec-
lively in sympathy. American Sugar
showed momentary weakness at the
opening, but was increasingly strong as
the day progressed and is up 21a on the
day. There were heavy takings of the
United States Leather stocks, which
have gained 11a and 2as respectively.
In the railroad list business was ex-
ceedingly we'll distributed and a large
number of stocks show gains between /
and 2 points.
The most notable feature of the trad
ing in this department was the tendency
to turn to the middle and low priced
stocks, while the high priced and estab-
lished dividend paying stocks were al
most universally left quiescent. In fact
not a few of this grade show small net
losses. The low return at present divi-
dend rates made by the high grade rail
road stocks and the prospects of COM
ing dividends or increased dividends in
lower grade issues, owing to the con-
tinued increase in railroad earnings.
were the motives of this development in
speculation. Common stocks of re-or-
ganized companies having preferred
stocks ahead of them, whose dividend
claims are provided with an accumulat-
ing surplus of earnings beyond We're the
favorites. Some of the Southern and
Southwestern stocks, which have had
recent large advances were held back
by realizing. With the exceptions noted
strength was well distributed through
the different railroad groups.
Net gains of points or upward are
shown by Baltimore and Ohio, Erie,
first preferred, Hooking Valley, North
ern Pacific, Fort Worth and Rio
Grande, Chicago and Eastern Illinois,
and st. Paul and Duluth rose an ex
sentiment was reflected from foreign
stock markets today, and London was a
buyer ON balance in this market.
The bond market was active and
strong, and dealings was fairly well dis
tributed amongst the speculative bonds.
Total sales (par value) $1,000, 900.
United States IS declined Ii in the bid
price.
The total sales of stocks were 10000
shares, including Atchison, 17,775; At
chison preferred, 39,777; Chesapeake
and Ohio, 1925; Rock Island, $3.50;
Denver and Rio Grande, 1850; Erie.
first preferred, G,050; Illinois Central,
9,151; louisville and Nashville, 1926;
Manhattan Elevated, 1910: Philadel-
phia and Reading, 5000; Philadelphia
and Reading, first preferred, 26,700;
Missouri, Kansas and Texas. 5000;
Missouri, Kansas and Texas, preferred,
$500; Missouri Pacific, $3.50; Norfolk
and Western, 27,3S0; Norfolk and West
ern, preferred, 1850; Northern Pacific.
50,270; Northern Pacific, preferred, T.
900: st. Paul, 1880: Southern Pacific,
34,715; Southern Railway, preferred,
II, 800; Texas and Pacific. 5000; Union
Pacific, 81 $50: Union Pacific, preferred,
6,020; Wabash, preferred, 9,010; Wis
consin Central, 9,0d5; American Cotton
Oil, $3.50; American Tobacco, 113, 430;
Brooklyn Rapid Transit. 60,050; Con-
tinental Tobacco. 1880; Continental
Tobacco, preferred. 6,650; Peoples Gas,
5000; American Sugar, 20,260; Tennes-
see Coal and Iron, 6,0T5; United States
Leather, 26,01G: United States Leather,
preferred, 12,S40.