The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-05

ton which marked it. No special news
reached the public to account for the
movement, and it was generally attri-
outed to the increase of funds made
available for stock market use and the
accumulation of evidence of the prosperi-
ty of the company. It's recent investment
in the stocks of Baltimore and Ohio,
Chesapeake and Ohio and Norfolk and
Western, besides the advantages given
in the extended control of possible COM
petitors, evidently ensures good direct
return of the outlay in the shape of divi-
lends. 1t is said that part Of the special
issue offered to stockholders at par, which
was not taken up by the privileged stock,
has been marketed by the company at
the current market rates. The premium
commanded by this stock would thus re-
vert to the treasury OF the company
Reasoning by analogy from the course
Of the Pennsylvania Company, many
rumors are current on the STOCK exchange
of movements towards consolidation or
absorption of railroads in New York Cen
trail territory. One such, alleging the
passing of control of the Erie, Reading
and Lehigh Valley to New York Central
was denied by Reading officials, and the
early strength of the stocks atected
gave way to sharp reaction. The rise 10
Chicago, Indianapolis and Louisville ana
Lake Erie and Western is due to the prev
alent belief in the general policy OF ex-
tending control and influence on the part
of the great trunk lines. The market
strength of the Pacific stocks was largely
due to demand from abroad, the buying
for London account assuming important
proportions. st. Paul on the fourth week
statement of earnings and several other
railroad stocks on good earnings were
points of strength; and American Sugar,
the local traction stocks ana American
Tobacco showed good advances. Reallzlng
was heavy in Baltimore and OHIO, Peo-
pies Gas, and on lighter scale in the
Atchison stocks and some others The
final reaction of a point in Pennsylvania
from the top level checked the activity of
the market. and the closing was dull and
barely steady.
Business in the bond market was on
a very large scale, and was generally
widely distributed and prices advanced
(par value) $5,795,000.
United States refunding rs (when is
suedD, 3's registered old As and SIS de-
clined Il in the bid price.
The total sales of stocks today were
S4S,60 shares, including the following:
Atchison 1850; Atchison preferred IT,
920 Baltimore and Ohio 21,S60; Chesa-
peake and Ohio 1850; Chicago, Burling-
ton and Quincy 1855; Chicago, Indiana
polls and Louisville 6,045; Chicago, In
dianapolis and Louisville preferred 5,16l;
Chicago, Rock Island and Pacific 1880;
Erie first preferred 10,4S5; Louisville and
Nashville $3.50; Manhattan Elevated 15,-
10; Metropolitan Street Railway $3.50;
New York Central q ,715; Norfolk and
Western $3.50: Missouri Pacific $4,000;
Northern Pacific 61,755; Northern Pacific
preferred 1915; Pennsylvania Railroad
154 ,340; Philadelphia and Reading 5000;
Philadelphia and Reading first preferred
&c, AGO; Philadelphia and Reading second
preferred 14,365; Southern Pacific 23,975;
Southern Railway SIPS; Southern Railway
preferred $3.50; Union Pacific 99,995;
Union Pacific preferred 1850; American
Steel and Wire 1910; American Tobac %
Is 1910; Brooklyn Rapid Transit o",S3a
Continental Tobacco II, $50; Federal Steel
SO, $40; Peoples Gas, Light and Coke
Company 1920; American Sugar 41.120.