The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-08-22

cate the recent maintenance of SINH
lar prices with consumers. The stock
went off ! per cent on the offering
of some large amounts. A contin-
uance of the recent bears campaign
against Peoples Gas accounted for its
present fall. Declines in railroad
stocks were in sympathy with London
and reports of unfavorable conditions
in crop districts. Business was only
moderate during the selling and as
was not forced, the shorts
commenced to cover. Before the fore
moon expired prices were on the mend
and there We're Indications of conf
dent buying in spots. Rallies were
most pronounced in the stock which
had suffered most earlier, and the
general level was lifted above last
night. Conspicuous strength was
shown by Brooklyn Rapid Transit,
Manhattan and Consolidated Gas, the
latter rising two and quarter per
cent. from the. lowest. New Jersey
Central then assumed a commanding
position in the market, rising per
cent to 137Ha, which is a record price
in its recent upward movement. Re-
viyed reports were current of its prob
able absorption by the Baltimore and
Ohio Railroad in the interest of the
Pennsylvania Railroad, the latter be-
ing credited with the dominant in
fuence in the management of the Bal
:timOre and Ohio. No corroboration
of the report was had up tofthe close
Of business. nor of the statement that
an advance in coal prices was imminent
iCoincident with the high price regis
tered for New Jersey Central, the July
statement of earnings of the road
were reported showing a decrease in
gross of So, 104 but reduction in net
of $26,S30 This showing and realiza-
tons forced the stock off to 1876 at
the close. Reading first preferred was
the only other. coaler to show any re-
Election of the movement in Jersey
Central, the stock rising 1h and re-
tanning the gain While the Specula-
ton i'm these stocks was being car
ried on the general list was largely
neglected and showed no inclination
to rise above the level recorded about
noon. This circumstance caused small
offerings all around in the final hour
and the market yielded closing easy
in tone, with net changes generally
a small fraction either way. A fea
ture of the closing was the rapid all
vance of 31a per cent in st. Joseph
and Grand Island first preferred which
was unexplained. London operations
in this market were unimportant but
consisted of sales of a few thousand
shares on balance. Monetary condi-
tons abroad showed further relax
alton. discounts at London declining
and exchange on London at contine1:1
tai points also yielding. In the local
market money rates were unruffed
with borrowers described as being in
an Independent position.
Business in bonds expanded today
and there was an active demand for
st. Louis, Southwestern Seconds,
which advanced them five-eighths per
cent. The general market was irreg-
uIar but variations were slight. Total
sales (par value) $1.115,000.
United tSates refunding 2's (when
issued) declined and new As adj
vanced in the bid price.
The total sales of stocks today
were 1902. 800 shares, including the
following: Atchison 5,465; New .Jer-
sey Central 5,627: Reading first pre-
ferred 5000; Union Pacific 1885;
Brooklyn Rapid Transit 9145; Peo-
PIES Gas 1880; American Sugar
1910.