The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-01

a few cases were pretty generally wiped
out before the close. The Improvement
in the tone of speculative markets abroad
gave an upward impulse to prices at the
opening. London bought quite freely of
fayorites among the Internationals.
The buying from this source is attri-
buted to the operations of a promised
New York operator making a holiday
sojourn in London. After the orders for
London account had been executed in
this market the railroad stocks fell
somewhat into the background and the
Industrials were brought forward. The
leaders in this group, especially To
bacco, were under rather severe pressure
and showed sharp declines. Later there
was some improvement on the strength
of the showing made by several railroads
in July earnings. Burlington was the
leader with an increase in surplus after
charges of over $450,000. The Central
of Georgia Railroad formed marked
exception, with a decline in net earnings
of nearly $4,000 compared with July
last year. Lackawanna was marked up
on the settlement of the dispute with
the engineers, and there was some SYM
pathetic strength in the other Coalers.
Meanwhile the short interest in Con-
solidated Gas showed signs of distress
and marked up the stock GA extra divi-
dend The bears were inclined to cover
sympatheticaIly in the other Industrials,
but realizing in Continental Tobacco, pre-
ferred, on the declaration of the first
dividend caused them to decline again.
There was continued strength in the
Republic Steel stocks but the promis-
ing movement in Federal Steel late yes
terday was promptly met by realizing
today, and the stocks of that company
were heavy all day Steel and Wire fail
ed to show any response to the admission
of the stocks to the listed department of
the exchange.
The Chicago and Eastern Illinois
stocks showed individual strength, and
the common gained 61a and the preferred
AZ. Colorado Midland, preferred, and
Rio Grande and Western. common and
preferred, We're strong. The persistent
heaviness of the market and the mark
ing up of call loans prompted a general
selling movement in the last hour, which
carried off prices to the low point of
the day.
There was a slight hardening in rail-
roads, but the Industrials were attack
ed again in the final dealings. There
was no apparent resumption of opera
tons by the organized pools recently ac-
tive. The scarcity Of money was attri-
buted to preparations for the regular
monthly settlements. But the New
York banks continue to lose cash to the
Sub Treasury ON account of customs and
internal revenue payments, and there
is balance of shipments TO the interior
over receipts. New York exchange at
the principal interior points continues
at a discount. Exchange both on Lon
don and Paris receded fraction.
The bond market was rather quiet and
changes were small and irregular. Total
sales par value S3,305,000
United States Government bonds I'M
changed on bid quotations.
Total sales OF stocks today We're 1885,
900 shares. including Atchison. 1000;
Atchison. preferred. 1850; Louisville
and Nashville, S,410; Chicago, Burling-
ton and Quincy, 300; Michigan Cen
trail, 7,150; Missouri, Kansas and Texas,
7035; Norfolk and Western,
1.G40: Wabash. preferred, 1000; Rio
Grande and Western. 400; American To-
bacco. 1925; Brooklyn Rapid Transit,
1850: Colorado Fuel and Iron, 5000;
Continental Tobacco. $3.50: Continental
Tobacco, preferred 26197; Federal Steel
1856: International Paper, 6.590; Peo-
pies Gas, 14,151; American Sugar
81. 100.