The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-07-24

ing this morning. There was lot much
difficulty apparent in advan ing prices or
IL any obstruction appeared in the shape
of offerings in larger volume than could
be absorbed, the leaders turned their at
tention to. stocks whose upward course
was easier. AS the long interest has
not yet attained large proportions ind as
there still remains considerable short
interest, whose position grows daily more
precarious, the technical conditions ia
yored the advance.
The appearance of outside buyi1g en-
couraged the professional bulls to re-
doubled efforts and the days market as a
result gave an appearance Of greater
activity and more strength than on any
day last week. This was particularly trde
American Sugar had been checked in
its first reactionary tendency ana was
found to move upwards easily on moder-
ate buying. This stock continued to nave
a marked influence on the whole mari ct,
and its reaction late in the day prec1pi-
tated a movement to take profits else
where. so that the closing was easy at
considerable recessions from the best. ! he
distinguishing feature of the marke; was
its .unevenness as might be expected from
It's professional and manipulated CHAR
acter. A few stocks were active and
strong. a large number showed sharp ad-
vances after lying dormant for some me,
SO that very meagre transactions were
sufficient to move them. But the ma
.iority Of the list was only moderately
active and continued very sluggish, small
net gains being the rule in sympathy
with the strength in special stocks.
Tennessee Coal and Iron led the stocks
with an extreme rise of four and QUAR-
ter points, but several of the group re-
sponded to the extent of point or over.
Metropolitan Street Railway rose two ana
and three-quarters early in the day, but
Brooklyn Rapid Transit took the leader
ships of the group with a rise of three
and a half points on the favorable judi
cial decision in the ten-cent fare case. liz
the Changers, St. Paul and Burlington
rose about two points each. Early adj
vances in United States Leather, Peo-
pies Gas and Southern Pacific proved
abortive and these stocks were relegated
to the background. The hopefulness Of
the bulls was predicated on the more en-
couraging feeling regarding China, which
was reflected from abroad, on the conf
dence that the money market Is assured
of a considerable period Of ease and that
a period of quiet in political affairs is
likely to intervene before the CAMPAIGN
takes on its more active phase. The alb
sence of any engagements of gold for en-
port today also helped the market, as
did the favorable crop news.
The bond market continued dull and
prices moved irregularly. Total sales (par
value) $1,2S5,0O0.
United States old As, coupons, and new
As advanced * in the bid price.
The total sales of stocks today were
435 600 shares, including the following:
Atchison, 10000; .Atchison preferred, a.
900; Chicago, Burlington and Quincy, 49,
$50; Louisville and Nashville, $3.50; Man.
haitian Elevated, 13,345; Missouri Pacific,
G,0O0; Pennsylvania Railroad, 11,210; Chi
.cago, Milwaukee and st. Paul, BAL.
Southern Pacific, 29,S45; Philadelphia ard
Reading first preferred, $500; Union Pa
cific, 29,470: Union Pacific preferred $50:
American Steel and Wire, 1874; Ameri
can Tobacco, II, $3.50; Brooklyn Rapid Tran
sit, 39,S45; Federal Steel, S,120; Peoples
Gas Light and Coke Company 10000;
American Sugar, 36,795; Tennessee Coal
and Iron, 1906; United States Leather
25,707.