The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-05-24


movement in that stock to yield profits
on the days turn, but the stock de-
veloped it's customary obstinacy and re-
fused to advance TO any marked extent
or to hold what moderate gain was
made It's extreme range was two ana
three quarters points, and it closed with
a net loss of three eighths. The street
was flooded with tips this morning,
promising repetition of yesterdays sud
den Jump and the professional traders
took on stock quite literally. The clos
ing out of short contracts yesterday left
the market without support on that &C
count. and the buying did not extend
much beyond the ranks of professional
bulls. In spite of the announcement of
a further advance of 10c hundred
pounds in refined sugar made by the
American company and followed by the
other refiners, there was not sufficient
demand for the stock to enable the trad
ers to take their profits and the price
was brought back TO about where it
started under the pressure of that pro-
cess. Today's advance in the price of
refined sugar makes a total of fifteen
cents a hundred pounds during the week
and the quick response made by all the
the persistent assertion that a working
agreement has been arrived at between
the rival companies. The fact of con-
current advance at the end of the dull
season in the trade and with the large
demand incident to the canning season
to be met, detracts from the protestations
made with official sanction that business
is conducted under present conditions on
,e,sl Il
conflict still RACES between the refiners.
American Tobacco made further ad-
vance today. which was better held than
that of Sugar and the price of Brooklyn
Rapid Transit was bid up sharply when
large buying orders were detected in the
stock.
In the general list there was some show
of firmness early in the day but it was
not we'll held in any case and prices of
some railroad stocks drifted below last
nights level. The Pacifics made the best
show of strength, especially Northern
Pacific. which was affected by rumors
of an increased dividend rate and was
benefited also by the timely rains in
the Northwestern wheat country. The
buying of Northern Pacific was attributed
in part to Berlin account. International
houses were sellers on balance to a
small extent. the foreign markets con-
tinung generally depressed. A number
of the large professional operators in
stocks are preparing for vacation trips
to Europe and some of the buying OF
stocks said to be the closing out of
accounts OF gold for Europe announced
during the day was not unexpected and
had little effect on the stock market It
is understood that it is made possible
only by special inducements offered by
the Bank of France, the occasion being
the special needs for currency incident
to the exposition. The bond market was
dull and small, and irregular changes in
prices were the rule. Total sales (par
value) $1.O30.O00.
United States new As, registered, ad-
vanced u and old As and SIS declined h
in the bid price.
The total sales of stocks today were
294. 500 shares. including the following:
Atchison preferred. $685.; Northern Pa
cific, 1i,767; Philadelphia and. Reading
first preferred, 1900; Southern Pacific.
5000; Union Pacific, 1880; American
Steel and Wire, $780, American Tobacco,
IS, 900; Brooklyn Rapid Transit, $4,000;
Peoples Gas Light and Coke Company s.
SIS; American Sugar, $3.50.