The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-09-13
THE NEWS AND OBSERVER WEDNESDAY MORNING SEPTEMBER l

were thrown upon the market during
the day as the rate for call money was
mayked up by successive stages or loans
were called outright.
The standard railroad stocks suffered
in equal degree with the InClustrials, as
evidenced by the weakness of the Gran
gers and a two point decline in Penn
sylvania on large offerings. The bears
were watchful for opportunities all day
and were quick to take the market away
from sellers. They had their greatest
success in Brooklyn Rapid Transit
which broke to par on the opening
transactions. The most strenuous eff
forts to support failed to hold this stock
and it fell to %. The Flower group
showed keen sympathy with the weak
ness in this stock. Peoples Gas, Fed
eral Steel and International Paper
dropped from to 3 points below last
nights level, Rock Island leading
the van of the Changers. Tennessee
Coal opened off 9la points and fuctua-
ted very feyerishly over a range of
five points. Colorado Fuel maved in
sympathy, but otherwise the Iron and
Steel stocks were relatively firm and
came up in the final dealings to a level
above yesterdays close in several in
stances Sugar was one Of the heavy
sufferers ON the active list. Some of
the less active stocks to SHOW notable
losses were Chicago and Easrcrm I'LL
nois. Consolidated Gas, Mobile and
Ohio, Cleveland. Lorraine and Wheel
ing preferred: Minneapolis, st. Paul and
Sault Ste. Marie, Omaha, and Lacka-
wanna, in which the declines ranged from
3 to 51a points.
Manhattan was weak at one time. but
rallied strongly on the declaration of the
regular quarterly dividend Of | per cent.
The newly listed United States Milling
stocks gained ia and I respectively.
Railroads in the Southern group, the
Pacifics and Atchison preferred showed
a better resistance to the weakness than
the general list and in some eases es-
tablished net gains before the close
The heavy liquidation Of the last two
days as undoubtedly resulted in greatly
the condition of the banks.
The call loan rate after rising to 8 per
cent, fell again to & per cent, but this
was only after the days demand had
been satisfied Reports from Washing
ton indicated that the Treasury Depart
ment was indisposed to offer measures
Of relief SO long as liquidation wns not
forced beyond purely speculative limits
The foreign exchange rates on Lon
don, Berlin and Paris all yielded frac-
ton today, but discounts Mt these centres
did not respond with an advance as
they would almost certainly do if a
movement Of gold to New York was
New York banks generally
marked up the time loan rate today
to 8 per cent though the demand in
that department. is not heavy.
Bonds were weak in sympathy with
stocks and there was considerable Ii
quotation manifest in the speculative is
sues. Total sales lpar value) $1.915. 900.
The total sales of stocks were IT,
300 shares, including: Atchison. 6,050;
Atchison preferred. 81, $50: Chicago
Great Western, 500: Burlington. o.
5SS; Rock Island. Il. 160: louisville and
Nashville, II, 100; Manhattan, 3O.375;
Pennsylvania. 20.360: Reading first pre-
ferred, 10.400; st. Paul. 3S,125: South
ern Pacific, 26,T75: Southern Railway
preferred, 6.0J0: Texas and Pacific. g.
600; Union Pacific. 1925; Union Paci-
fic preferred. 1880: American Steel
and Wire, f4120; American Tobacco.
1920: Anaconda. goo: Brooklyn
Rapid Transit, 14S,S17: Colorado Fuel.
1880: Continental Tobacco, 1860;
Federal Steel, 23,150; Federal Steel pre-
ferred, 1915: Peoples Gas, 21.550: SUI
gar, 42,550: Tennessee Coal and Iron.
24.690: United States Leather, 39250;
United States Leather preferred, $3.50.