The news & observer., 1900-12-29
TIE NEWS AND O8HEKYEk SATURDAY MOANING DEC 29 1900

strong bank statement seems assured to-
morrow in view of the gain by the banks
during the week from Sub-Treasury oper
ations of s2.755. 900 and an estimated
gain on the interior express movement
OF nearly $3,000000 more. The failure
of the money market to harden was the
occasion of the strong rally from the
opening break in which Peoples Gas,
Brooklyn Rapid Transit and American
Sugar were forced down from one and a
half to two points. The striking feature
Of the buoyalt market which prevailed
during the middle portion of the session
was the Inconsistency of the strength and
demand for special stocks. A rapid price
movement in an individual stock would
be followed by sharp reaction, while
the speculative demand would shift hur-
riedly to other quarters rapidly bidding
up prices one or two or three points.
Some time pools had no difficulty in liqui-
dating their holdings at a handsome
days profit. The list of stocks in which
this operation occurred includes many of
the high grade railroad stocks as well as
those known in stock exchange parlance
as cats and dogs. An incident of the day
was the rise in ST. Paul above Burling-
ton. This supremacy was contested, the
friends of Burlington rallied the stock
again to above St. Paul. but the latter
stock closed within a half of the top and
three quarters above Burlington. The
late reaction evidently was due merely to
general desire to convert paper profits
securely into cash.
The demand for bonds was not SO con-
spicuous as yesterday, but there were
strong points in the market. Total sales
Gar value) $5,925, O00
United States old AS advanced p, re-
funding 2's 5s and 3's and SIS "a per cent.
on the last call.
The totcl sales of stocks today were
,466, 800 shares, including the following
Atchison 18,400; Atchison, preferred, 3d.
22O Baltimore and Ohio. 23,5OO; Chesa-
peake and Ohio, $4,000; Chicago Great
Western, 80, 500; Chicago, Burlington and
Quincy, 100; Chicago Rock Island and
Pacific, 9.100; Delaware and Hudson,
q 100; Erie, 2S 1G0; Erie, first preferred,
%, 400; Louisville and Nashville. 1S,4OO;
Manhattan $4,000; Mexican Central, A.,
600 Missouri Pacific 31S00 Missouri,
Kansas and Texas, preferred, 13.200; New
York Central, 18,200; Norfolk and West
ern, 14500; Northern Pacific, 2l,6OO New
York, Ontario and Western, 99.S0O; Penn
sylvania Railroad, $1,000; Philadelphia
and Reading, first preferred, 81, 100: Phila-
delphia and Reading. second preferred,
4, 800: St. Louis and Southwestern. pre-
ferred, 5000; Chicago. Milwaukee, and
St Paul, 100, roo; Southern Pacific, 70,500;
Southern Railway, 10000 Southern Rail
way, preferred. $780, Texas and Pacific
81 500; Union Pacific. 1880; Union Pa
cific, preferred, 5000; Wabash, preferred
$4,000; Wheeling and Lake Erie. 200;
American Steel and Wire, T6,60O; Ameri-
can Steel and Wire. preferred, 6,O'O;
American Tin Plate, 1900; American Tc-
bacco 81, ,OOO Brooklyn Rapid Transit
81 500; Colorado Fuel and Iron, $500;
Continental Tobacco, 9,1OO; Federal Steel,
81 500; North American, 2S,200; Peoples
Gas, 29, 300; American Sugar, $4,000; Ten
nessee Coal and Iron. 11,500; United
States Leather, $4,000; United States
Leather, preferred. $500; Western
Union. 5000.