The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-05-03

n london account. Stock values then sui
fered on Il continuance of yesterda! ;
heavy liquidation and reccded sharply,
the Specialtics losing from = to nearly
rs points. BY noon liquidation had prac-
tically ceased, and there were rallies
which among the Spccialties ranged
from 3D. to 81. The Standard Rail
ways moved far less widely, except for
burlington and Delaware and Hudson
which made net gains of IA and 81 re
Snectively. Among the specialtieS the net
gains extend to l4l2 in Air Brake, %
in Metropolitan, Bps in Manhattan. J1s
lin Brooklyn Transit and an average oi =
poinfs.n Federal Steel, Sugar, National
Steel and Tennessee Coal and Iron. Can
money rates ruled mt about per cent
most of the day and their stcadiness WAS
a source of confidence. as was the easter
tone in sterling exchange. which was at
trhuted to London purchasing Of stocks
Another reason which might I've assigned
for the rally was the fact that the Ford
Franchise Tax Bill would not figure III
the tax levy for this year and the nope
of those interested in the securities WIS
that Il delay of Il year might BRING
about Il modification of its provisions. y
sharp speculative contest between the
bulls and hears in Brooklyn Transit
which ultimately resulted in favor OF
the former was, because OF great gravity
and sentimental influence in favor of the
long side in other properties. The DIS
semination of Il story that the Sugar
insiders were indiSpoSed To come to
terms with present rivals because of the
fear that other syndicatcs stood ready
to start up new opposition was sup
poScd to have something to do with the
dip in Sugar, but the readiness of n
large house to absorb offerings brought
about rally in which the earlier loss
was more than recovered. Besides the
tax franchise bill. the gas rate war IN
duced liquidation in Consolidated Gas.
but covering of shorts and other pur-
chaSes caused the stock to rise above
last nights figures. The rapid tiuctua-
tons with alternate pronounced weak
ness and strength caused reduction i'll
the outside interest and left the market
much of the day in the hands of the
Late in the afternoon
when the market broadened ont, and Il
general movement was under way ac-
IlNlIN OF COMMISSION HOUSES WAS dSdili
noted The market left off strong at
generally the best prices.
Some recessions occurred in the bond
market in sympathy with the early liqni-
dation in stocks but there were later par
tial recoveres Total sales S2.32J,0 900.
United States SIS coupon and new Is
coupon declined Il in the bid price.
1ne total sales of stocks were I1S.1O0
shares, including: 20,lG5 Burlington:
1890 .Atchison. preferred; 5000 Louis
vile and Nashville: 33,97S Manhattan,
10000; Metropolitan: 1900 Mexican
Central: l0.51O Reading first preferred;
1890 Missouri Pacific: 6,450 New York
Central; 800 Northern Pacific; 6,115
Ontario and Western: 5.430 Rock Is
land; $3.50 Union Pacific: S.o4o Union
Pacific preferred 27,642; American Steel;
$3.50 Southern Railway: 34.500 Federal
Steel: G.G15 Federal Steel preferred: H.
$40 copies Gas: 1880 Consolidated
Gas: 101 ,295 Brooklyn Rapid Transit
40.1S0 Continental Tobacco; $4,000 Sill
yer certificates: 10 135 American Sugar:
6,110 Tennessee Coal and Iron.