The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-27

sues has been the salient point of the
market for days past. published state
ment that the preferred stock would not
be retired on the coming list of January
is the ground for the break, as it would
take away the reason for the recent spec
ulation. The common stock was carried
down an extreme three and quarter and
the preferred nearly three points. six
per cent call money rate emphasized the
cautious feeling and the relapse TO five
per cent later in the day was an impor-
tant element in the rally. The substantial
character Of the buying orders encoun-
tered at the decline discouraged the bears
and their buying to cover helped the
rally. 1t had it's inception in the local
traction stocks which were all very strong
with accompanying rumors of consolidated
control. Missouri Pacific, Philadelphia
and Reading first preferred, Peoples Gas
and American Sugar were also conspic-
uous features of the late recovery. The
closing was very irregular. but with the
undertone strong. The opening outburst
was palpably due in large part to manip-
ulation. and was eXplainable by the busy
operations of speculative cliques during
the holiday interval in making demonstra-
tive bids for almost any amount of the
stocks effected without any actual trans
actions being involved a restraining in
Auence. The opening of prices in Brook
lyn Rapid Transit varied nearly three
points on an extreme advance of five and
an eighth and there were wide openings
IN running sales in Tennessee Coal and
iron, Erie first preferred, American Su
gar, Atchison and other stocks The gains
n these stocks ran from one to over five
points. except Erie first preferred, which
was 1t no time more than a fraction over
Satrrd~- There seemed to be plenty of
funds available for borrowers and lenders
show themselves anxious to put out money
on time. having in mind the coming dis
bursement Of the yearly dividends and
interest ard the promise of lower rates.
while borrowers show a preference for call
loans. The turn of the interior currency
movement in favor Of New York and con-
tinued gains by the New York banks from
the Sub Treasury on account of large pre-
miums on GovernmcD. bonds and anticipa-
tory payment of Cove rrment interest CIV
ing a feeling Of assurance that the year
will be turned without trouble in the
money market.
The railroad bond market was active
and showed only few week spots. Total
safes NpdF Value) A4,oIn,tW
All United States bonds advanced 1-2
per cent on the last call.
The total sales of stocks today were
1,447 500 shares including rho TO owing
Atchison, 2,100; Baltimore and Ohio, o.
000 Chesapeake and Ohio 13 500; Den
yer and Rio Grande, $500 Eric $500
Erie first preferred 1900 Lousv.'ie and
Nashville, 1900; Manhattan Elevated
95,S00; Missouri Pacific, $4,000: Missouri, |
Kansas and Texas preferred 27,St0: New
York Central, $500; Norfolk and V'os-
tern. 5000; Northern Pacific, 81 40: |
Northern Pacific preferred, 10000; NV
York. Ontario and Western, 10,400; PepI-
sylvania Railroad. 1921; Philadelphia end
Reading. $500; Philadelphia and Reading
first preferred, 23.700; Philadelphia and
Reading second preferred, $1,000 st. Louis |
and Southwestern preferred, 24,90O; Chi
cago. Milwaukee and St. Paul, "a 100; |
Southern Pacific, 80 800: Southern Rail- !
way, 41.800; Southern Railway preferred |
$500; Texas and Pacific, % 800; Union |
Pacific, 1890; Union Pacific preferred. s.
200; American Steel and Wire, $4,000; |
American Tin Plate, 22,700 American To- |
bacco. $1,000; Brooklyn Rapid Transit |
al. coo; Continental Tobacco, 1880; Fed |
eral Steel. 400; International Paper. g. |
Toe; PEOPLES Gas, 102, 700: American Su- |
gar 96.800; Tennessee Coal and Iron, H.
300; United States Leather, $500.