The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-25

lowed. support being extended to Mich
igan Central. Union Pacific preferred,
General Electric. Peoples Gas, Manhat-
tan and Missouri Pacific. New Jersey
Central, Tennessee Coal and Iron and
Federal Steel common We're also lifted.
The trading element began 10 sell freely
as the effect of heavy profit taking was
appreciated. The market at first became
DIM As prices receded. but the selling
gradually assumed larger volume and
quotations rapidly crumDled away,
eventually weakening practically all
stocks traded in. In the absence of UNI
favorable news. the reaction was attri-
huted to technical conditions. BY reach
ing stop loss orders in the more active
shares material slumps occurred in
prices with rs much as a point or more
difference in quotations between trans
actions.
Money continued easy and the banks
were expected to make another heaycy
gain in cash this week The movement of
money from the interior and from Cali
fornia continues heavily in favor of
New York. The lowest price of the day
was made in the final hour, and selling
at that time wiped out the gains i'll
stocks made earlier in the day.
The extreme breaks in the Wander,
5ilts ranged up to a. i'll Northwestern
In the Flower specialticS the largest
break was in New York Air Brake, six
points.
The drop in the Changers ranged from
2 points in Rock Island to 3H points in
Burlington,
Among the Coaiai-s the slump ranged
up to AZ in Reading first preferred.
In the Pacifcs the extreme drop was
4 points in Union Pacific preferred.
PENNSYLVANIA dropped 28i, Manhattan
and Metropolitan pa each. c. {. {. and
st. Louis, .; Tennessee Coal and Iron,
?: American Malt, 3; and General Flee
trio 212 New York, Ontario and Yves
tern, the most active stock on the list
in the days trading. dropped 2l2. 1t was
estimated that London at one time had
sold 10000 shares, a portion of which
was taken back on arbitrage dealings
later in the day The resistance the
market displayed in the forenoon not
withstanding the heavy assaults made
upon it by the traders was explained by
the fact that during the progress of the
raids several prominent interests were
large purchasers.
\ feature of the marke was the re-
sumption Of activity in the middle class
and low priced stocks.
The bond market displayed early
strength, but later yielded in sympathy
with the reaction in the stock market.
Total sales $9260.000
United States 3's and the old is, cou-
pom. declined Il in the bid price
The total sales Of stocks were 1852,
9S4 shares, including: 22,250. Atchison;
101, 800, Atchison preferred; 7,7S0, Can
ada Southern; 20.330, Chesapeake and
Ohio; 1854. Chicago, Burlington and
Quincy; 1885 G. G. c.. ST. louis; T.,
420. Erie first preferred 1000, Illinois
Central; 17,400. Louisville and Nash
vile: 1886, Manhattan Il; 5,0SS,
Metropolitan Street Railway; 43. 100.
Reading first preferred: 96625, Missouri
Pacific; 1920, New York Central; 21,-
S25, North American Company: 24,320,
Northern Pacific: 1880, Northern Pacific
preferred: 114.913. New York, Ontario
and Western 1920. Reading; 14.031.
Rock Island and Pacific; 1880. Union
Pacific; 1900. c. NJ. and st. Paul g.
80. Union Pacific preferred: $500.
Wabash preferred: $500, International
Paper: 1880. American Tobacco; g.
$50, Bay State Gas; 4l,220, Federal
Steel; 500. Federal Steel preferred;
101 $50, Peoples Gas: 1910 Brooklyn
Rapid Transit: 1920, Pacific Mall IT,
SCI, Ameican Sugar; 34.440, Tennessee
Coal and Iron; 6.01S, Tennessee Coal
and Iron preferred 30.57S. Western
Union, 2710O, Chicago Great Western.