The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-22
LOCAL STOCK MARKET
STOCKS AND BONDS.

| ket today was exceptionally active and
remarkable advances were made in many
shares, the extreme gains being in in
vestment issues. The average prices
were higher than in years, and the vol
ume of trading in stocks and bonds was
the largest yet traded in on Il Saturday.
Had the two-hour session been extended
to five hours as Oh other days, and had
the same rate of trading continued there
would have been SIX GG.000 bonds and
81 ,900,0 900 stocks dealt in. Investors,
weary of waiting for a substantial reac-
ton, seemed panic-stricken to place
their money.
The opening quarter of an hour was
the most exciting in sympathy with the
booming market for New York Central
on the London exchange. All the Van
derblt shares made sharp advances on
rumors concerning the plans of the con-
trolling interests of the New York Cen
trail. The street, Judging by the course
of the market. gave credence to these
reports, but nothing was given ont in
regard to the plans, which were said to
involve closer relations between New
York Central, Chicago and Northwest
ern and Union Pacific. although an I'M
named director of the latter company was
quoted as making a denial as far as the
Union Pacific company was concerned.
New York Central made an extreme adj
vance of SS. Union Pacific 80 for the
common and 81 for the Preferred and
orthweStern 513. The London market
moved upward all day and It is estimated
purchased about 10000 shares here, al
though the London exhange closed be-
fore this market opened. There was
I.
the advance in the Vanderbilts, but all
offerings were readily taken. Commits
sion house orders were so large that
some floor brokers having more business
than they could we'll attend to, were
obliged to refuse orders. The fractional
declines that occurred were due to the
suspicion on the part Of the traders that
prices were bid up in the interest of
sellers. The appearance of the bank
statement assuming as it did an album
dance of money. exerted a strong in
fluence and a renewal of confident pur-
chasess.
The closing was strong. but at recess
sions from the best figures. The more
important gains for the day outside of
the VanderbiIts. Union Pacific and At
Gibson were Great Northern Preferred
2, and Evansville and Terre Haute Pre-
ferred 3. The declines were fractional
excepting Hawaiian Commercial 3H,
Pullman and Western Gas 1. National
Bisucuit Common closed at loss of Il,
after n previous advance Of 81. Ameri-
can Tobacco. ManhattaD. Peoples
Gas and Federal Steel were weak.
Railroad bonds exhibited marked
strength during the week with the in
quiry embracing gilt edged as well as
the usually neglected issues. The ma
terial Improvement in the high grade
stocks prompted extensive trading in
bonds, where opportunities for enhance
ment of values seemed favorable.
United States new As registered. and
the IS advanced "a. the old As register.
ed, the new As coupon and the SIS regis
tered Il and the IS Is per cent in the
bid price.
The total shares of stocks were 1872
900 shares, including: $4,000 Atchison;
70,745 Atchison Preferred 1920 Cana
da Southern; 1900 Central Pacific; =
$50 Chesapeake and Ohio; $3.50 Chica-
go, Burlington and Quincy; 1920 Den
yer and Rio Grande Preferred: Chicogo,
Milwaukee and st. Paul, $3.50; 30,520
Illinois Central; 1890 Louisville and
Nashville 29,320 Manhattan 81" 5.720
Reading First Preferred; 24,210 Mis-
souri, Pacific; $500 Missouri. Kansas
and Texas Preferred: 29,320 New York
Central: 15.020 Northern Pacific; II ,420
Northern Pacific Preferred: $500 North
western; 1868 Rock Island; $500 Union
PACING; $500 Southern Railway; 10,-
200 Southern Railway Preferred; &c.
$40 Southern Pacific; 10000 Union Pa
cific Preferred: $500 international Pa
per; 5000 American Cotton Oil; 1920
Federal Steel: 1850 Peoples Gas; s.
100 Brooklyn Rapid Transit; ID, 800 Am
erican Sugar; 5000 Tennessee Coal and
Iron; 6,310 United States Leather; H.
500 United States Leather Preferred;
1850 chicago Great Western
NEW YORK CLOSING STOCKS.
AtchIson -. ..... 23k Rock Island ..120%
- / e. 9