The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-24
STOCKS AND BONDS.


| of bonds reached $9,046. 900. Trading
was furious at the opening ani the high
est prices were rsacbed in most stocks
on the initial bulge, with advances of ]
to 10 points in profits. The market
then became quieter until another eX-
hibition of strength III the Afternoon
trading. when the coalers and Gould
stocks got to the bat. The bank state
ment. which seemed to assure easy
money. was the handspring N the mark
cts strength. London opened firm, but
declined on operators taking profits aud
then steadicd on curb transac-'olis. The
extent Of the puhlic's intcrcsL in the
market was reflected by the congestion
of business on the stock exchange and
| in the commission houses. For instance,
it was announced TO Il brokers' Custo-
Nor to-day that all orders would ba
taken subject 10 delay, as their repre-
sentative on the flopr was unable 20 at
tend to all Of their business, and that
the floor brokers were vefu%tng orders
as they had moe IN their hands tlf;ln
they could execute. 1t was the usual
thing to refuse 20 accept stop loss or
ders as the trading was too violent TO
guarantee their ..xccntioas. An Incident
conveying nm impression Of The extent
of the early advaa"e was that of II
customer who had given IN order 10 sell
a block of an lctive Issue :nd Who re-
cciyed 100000 more than the order
called for, owing IT, ihe violent ;'sc while
the order was being executed. Large
operators were believed to have realized
bearish in the early dealings, but there
was said to be considerable taking
back If stocks in the afternoon that had
been sold earlier, and round amounts
of stocks were covered by the traders.
Some of the more sensational move
mcnts were an advance of 1925 in
pittsburg. Cincinanati. Chicago and st.
Louis to So. decline of is. and net
gain of As. Canada Southern adj
Vanccd 1912. reacted 10 and gained 3D..
Cincinnati. Cleveland, Chicago and st.
Louis rose Sla, dropped 4 points and
closed within / of the best. New York
Central advanced 31s. fell back 5A and
ended with net loss of u. Manhat-
tan rose fractionally, broke points,
rallied AZ and closed "A up. At one
time or another in the trading there were
extreme advances in the following stocks,
not previously enumerated: Reading,
first preferred, ~; Reading, preferred,
second. 112; Twin City Rapid Transit,
54: Ontario and Western, 53s
After the early rise the heavy selling
movement dropped prices rapidly. Brook
lyn Rapid Transit, Union Pacific, St.
Paul, New York Central and many other
stocks yielding from to ) points. The
market became duh in the afternoon,
but livened up later under the leader
81,
cilases of Reading carried the price up
III, and other Coaers were lifted from
IL to as. The movement spread to
Ontario and Western, which jumped 53s
on transactions of over 100000 shares.
The BELIEF seemed to be that the com
pany would benefit by the better con-
ditions. which were said to exist in the
anthracite coal trade. The Changers
were rather quiet in the Afternoon.
Speculative interest conferred in the spe-
cialties. Notwithstanding the under
tone of strength in speculation many
shares closed notably lower. The more
prominent were Union Pacific, prefer
red. Omaha, Federal Steel, Brooklyn
Rapid Transit. Consolidated Gas, New
York Central and Glucose Sugar which
were off from / to rs, while New York
Air Brake suffered a loss of 81. The
market closed strong.
Railroad bonds showed considerable
strength during the forenoon, and record
prices were obtained in many issues.
In the subsequent dealings the mark
ct displayed considerable irregularity
which continued to the end:
United States old As coupon and the
IS coupon advanced "a in the bid price.
The total sales of stocks were 1920
600 shares, including "A, $50 Atchison;
15S,220 Atchs0n. preferred; 1860 Can
ada Southern; 1850 Central Pacific:
1856 Chesapeake and Ohio; 1856
Chicago. Burlington and Quincy; 49,
24S Cincinnati. Cleveland, Chicago and
st. Louis; 1920 Delaware and Hudson;
6.S20 Denver and Rio Grande, preferred;
1890 Eric. first preferred; 1885 Illi-
nois Central: 1880 Louisville and
Nashville; GG,SS0 Manhattan ''L;"
13S,500 Reading, first preferred; 10000
Missouri Pacific; 300 Missouri, Kan
sas and Texas. preferred: 600 Jersey
Central 30,636 New York Central; g.
100 North American Company; 1920
Northern Pacific; 25.551 Northern Pa
cific preferred; 1880 Northwestern:
I'll 1872 Ontario and Western; 30,202
Reading; 26,719 Union Pacific; 2S,240
Chicago, Milwaukee and st. Paul; 5,715
Southern Railway; 10029 Southern
Railway, preferred; S1.S61 Union Pa
cifc preferred; 5000 Wabash, prefer
red IA, 100 International Paper; 31,625
Federal Steel; 1929 Federal Steel, pre-
ferred; 160J0 Peoples Gas; $4,000
Brooklyn Rapid Transit; 1856 Pacific
Mail. II 400 American Sugar. 6 (t9)
Tennessee Coal and Iron; 9,265 United
States Leather. preferred; $4,000 West
ern Union: 20, 42O Chicago Great West
ern.
BONDS.
q. S. new 3's -. I07 N Carolina 6's :. 100
u. s. new AS, reg. 123L do 4's ...... 104
do. coup ....l291 No Pac LIST -. lib
| q. s. 4's...........1l2% do 3's ........ 69%
do. coup ....... 112M do 4's........... 103 4