The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-11-25

Of the day the strength became more
general Profit taking before the close
reduced prices from the best. In the
body of the active list net changes are
surprisingly small, and while the maiori-
ty are gains there ere important excep-
tions on the side OF losses. The Balti-
more and Ohio stocks Were the center
of interest. The buying of these stocks
was large from the opening, but as the
closing hour approached the dealings
assumed astonishing magnitude. Blocks
of many thousand shares of the pre-
ferred succeeded each other in quick
succession and were determinedly alb
sorbed on a constantly rising price The
buoyancy Of the stock carried ii up
an extreme 58 points, and the closing
was only slightly below that. The net
gains in the common was ia There
was heavy demand for Union Pacific,
but profit met the advance above II,
and its net gain was only slightly over
a point. Dealings in Pennsylvania, were
on an unusually large scale and it rose
an extreme 2l4 with a reaction Of "a.
Hooking Valley stocks gained over a
point each on the declaration of the
first dividend on the preferred There
was a feverish speculation in Consoli-
dated Gas before the announcement of
the determination not to advance the
pr1ce Of the product, thus necessitating
the continuance of the destructive rate
war. The stock sold up IL and then re-
lapsed 5la and closed a fractional re-
covery. The sensational collapse in
Leather came AT %. From that point
the stock sold down without any at
tempt at support to 1894. A fierce and
stubborn contest was waged around 10
from which the supporters of the stock
emerged triumphant after absorbing the
deluge of offerings. There were some
evidences of strength here and there
amongst the Industrials, notably in the
Continental Tobacco stocks. A consid-
cradle demand was due to the efforts of
the short interest to cover over the APP
double holiday.
Reports of British successes in South
Africa were used with some effect by
the bulls, although London was q seller
ON balance in this market. ST. Paul's
third week statement showing am in
crease of nearly $4,000 over last year
and other favorable railroad statements
had strengthening effect on the list,
as did the placing of Hooking Valley
preferred in the dividend list with the
declaration of the first dividend Of ~
per cent.
The principal influence in today's trad
ing was the expectation that the bank
statement tomorrow will make strong
showing and thus give an impetus to
speculation on Monday. The sub-Trea-
sury operations for the week show a
gain by the banks of 1927 600 AS the
loan expansion does not seem to have
been large a very considerable recuper-
alton of reserves thus seems assured.
United States IS and new as adj
vanced II in the bid price.
The total sales of stocks were S33.S00
shares, including Burlington, $3.50;
Atchison. preferred, 1850; Baltimore
and Ohio. 22,690; c., c., c. and st.
Louis, 7,740: Manhattan, 1866; Mis-
souri, Pacific, 500: New York Central,
]. $50: Northern Pacific, 1880; Pennsyl-
vania. 22,350: Reading, first preferred.
Z. 200; Southern Pacific, 41,750; Southern
Railway. $500; Southern Railway, pre-
ferred, 1928: Union Pacific S7,S9T;
Union Pacific. preferred, 1900; Ameri-
can Steel Hoop, $3.50; American To
bacco, 20110; Brooklyn Rapid Transit,
10110; Continental Tobacco. 1850;
Continental Tobacco, preferred, $500;
Federal Steel. -, 730; American Sugar,
30,470; Peoples Gas, $3.50: North
American Company, 6,490 Leather,
167, 100; Leather. preferred, S,743.