The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-11-11
THE NEWS AND OBSERVER SATURDAY MORNING NOVEMBER H. 1892
STOCKS AND RONDS.

New York, Nov. 10.-rhe early part of
the day in the stock market was given
over to a continuance of the throwing
over of stock holdings which was in evil
dence Yesterday. The liquidation was on
large scale. and embraced all DEPART
memts of the hist. The more highly
speculative indllstrials showed the widest
changes. but the selling Cf the standard
railroad stocks was fully euual in
amount There was 1i0 stock or group
of stocks which took d conspicuous place
nnart from others unless it might be said
that the Iron and Steel stocks were rela-
lively somewhat frner than the general
hist. The same might be said of North
ern Pacific and Union Pacific. Declines
at the low point exceeded a point for
many standard railroad shares, and in
a few cases reached upwards of two
points, Leather, after d break of five
points, rallied somewhat and retired into
the background of the trading, transac-
tions in it being small for the remainder
of the day. Sugar and Manhattan were
rather weaker than the balance of the
list. but they rallied with considerable
given over to a gradual and very general
recovery ON the part of earlier decline ON
a much diminished volume of TRADING.
Most of the leading railroad stocks raj
lied q large fraction and a number of the
Specialties between one ana two points
Consideration of the money outlook COM
tinued to dominate sentiment ON the
stock exchange. Ane banks continued to
call leans for large amounts, the rate for
call money opening at 13 per cent, and
running up to 10 per cent. Large
amounts of stocks held with borrowed
money were thrown upon the market.
After each successive period of iiquida-
ton the market fell into a condition of
semi-stagnation. During the afternoon
the rate for call money dropped off as
low as per cent, and the demand for
stocks developed, which caused the re-
cIperation in prices to the closing level.
The usual preliminary estimates of the
weeks cash movements showed a rather
smaller shipment to the interior than has
been estimated, though the loss to the
SlGbJTreasl1ry of 100000 was up to
anticipation. The weeks net loss i'm cash
is figured at over S4,000000 for all
causes. The easing in the money rate
late in the day served to ameliorate the
dread that tomorrow's bank statement
would show an increase in the deficit.
The loan contraction during the week
has been large. There was a rulnor
on the floor of the exchange that the
banks resources had been increased bv
means of cash deposits by institutions
In New oYrk city, with a view to relieve
the situation This runner could NOT be
traced to any authentic source, but af
fects sentiment ON the stock exchange
and inclined speculative opinion to look
for another surprise i'm t0morrow's bank
statement The stiff money market re-
suited in a further drop in sterling ex-
change rates, which was assisted also 10y
buying of stocA here for London account,
estimated at as high as 10000 shares.
New York exchange at Chicago rose
again to par, hut at New Orleans the
exchange continued to run against New
York
Prices of bonds moved in sympathy
with stocks early in the day, but failed
to respond to the late recovery. Total
sales par vaiue) $z,o30,000.
United States 3's advanced Il and old
is registered u in the bid price. The
5'S registered declined rs.
The total sales of stocks were 72S,500
shares. including Atchison preferred &c.
$50; Chicago Great Western $3.50: Chi
cago, Burlington and Quincy 23,6S5; Chi
cago, Rock Island and Pacific 6,391 !;
Louisville and Nashville 1880; Manhat-
tam ELEVATED 1905; Metropolitan Street
Railway 64SS; Missouri Pacific 1860;
New York Central 6,130; Norfolk and
Western $3.50; Northern Pacific 1855;
New York, Ontario and Western 1000;
Pennsylvania 7415; Philadelphia and
Reading first preferred 1860; Chicago.
Minneapolis and st Paul 1860; South
ern Pacific 96,190; Southern Railway T.
$50; Southern Railway preferred 1926;
Union Pacific II, 450; Union Pacific pre-
ferred 1852; Wheeling and Lake Erie
$500; American Steel and Wire 1850;
Brooklyn Rapid Transit 1890; Conti-
mental Tobacco $3.50; Federal Steel H.
$40; American Sugar $3.50; Peoples
Gas Light and Coke Company 14,185;
United States Leather preferred Clio.