The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-27

have been subject to rumors of increased
dividends; but today the report of
probable increase in the Pennsylvania
dividend rate took form again and was
circulated with great eXplctness. Bids
were made on the board for the next
semi-annual dividend on Pennsylvania on
thousands of shares Of stock "a per cent
compared with 8 per cent the last rate.
The meeting of the directors for the
purpose of fixing the dividend rate Is
dxed for Tuesday next The reports in
regard to Pennsylvania had the most in
direct influence on Baltimore and ONO
stocks next to Pennsylvania itself, but
the whole railroad list responded in vary
ing degree to the influence OF this move
ment. The pools whose operations Tor
rise were interrupted by the steel ana
wire episode resumed their operations 10
some extent. This was notably true OF
the Gould Southwestern group, Wnlch are
subjects of teeming rumors OF prospective
combinations or consultations. Inc ue>
termned firmness of Sugar and It's puoy-
ant upturn later had Sympatnellc Ell
feet on the market The movement Is SUN
attributed to the demand from the shorts'
but the many assertions of favorable de-
velopments in the trade war may also
have had their effect. A number OF I'M
usually favorable railroad statements also
had a strengthening effect on the market.
Results in net earnings for March were
reported by the Atchison of 53 per cent
increase; by Hooking Valley Railway OF
105 per cent, and by the Central OF Geor-
gia of 80 per cent. Returns of gross earn
ings for third week in April were also
uniformly favorable These factors or
strength caused growing uneasiness
among the rather unwieldy short interest
and the demand from that element had no
small part in the rally in the market.
The unsteadiness of the sterling exchange
market today gave ground for renewed
doubt as to the continuance for the pres
ent of the gold export movement. The
strong return of the Bank of England for
the week as we'll as that of the Imperial
Bank of Germany had some effect on the
exchange market. The Sub Treasury's
debit balance at the Clearing House
showed a further decline today, falling
to $500 119 compared with the recent
average of over a million dollars. If this
replenishment to the money market is
cut off it may serve to prevent the out
ward flow of gold.
The bond market showed increasing ac-
tivity and strength today. Total sales
(par value) $2,3SO,OO0
United States bonds were unchanged in
bid quotations.
The total stock sales today We're 533,
400 shares. including the following: Atchi-
son, 500; Atchison preferred, 1920;
Baltimore and Ohio, 10, 800; Chicago. Bur-
lington and Quincy, 5000 Louisville and
Nashville, 5000; Manhattan Elevated. g.
$780, Missouri Pacific, II $50; New York
Central gill; Norfolk and Western, g.,
01O Northern Pacific, 10000 Pennsylva-
mia, 81 SIS: Philadelphia and Reading
first preferred, u, $50; Chicago Milwaukee
and St Paul, $500; Southern Pacific, 10,
100; Texas and Pacific 1880; Union Pa
cific. 1925: Wabash 23,l00; Wabash pre-
ferred, $3.50; Steel and Wire, 7,345;
American Tobacco, $3.50; Brooklyn Rapid
Transit $40; Federal Steel, $50; Peo
pies Gas, 1880; American Sugar, 49,
675.