The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-04-03
THE NEWS AND OBSERV Err TUESDAY MORNING. APRIL 1900.

dominated. Some of the railroad stocks,
which had been notably strong lost prac-
tically all their gains or at the best had
them largely diminished. The Paclhc
stocks and the Changers were conspicuous
examples. Quite a number of usually in
active railroads were strong, notably the
Lake Erie and Western stocks, the pre-
ferred stock jumping 1875 points, to par
and the common rising an extreme Az.
The fall in Sugar was accompanied by re-
ports of new cuts in the price IN Gomez,
the war in the coffee trade being waged
by the same rival interests as that III
the sugar trade. The weakness in the iron
stocks seemed to be due to disappo1nt-
ment on the part of spectators over the
showing OF earnings made by the Federai
Steel Company. The drop in Federai
Steel from the early high point was AS,
and in Steel and Wire over points
Other stocks in the group were less ac-
lively traded in, but all showed weakness.
The days statements of net earnings for
February included gains over last year
February net earnings of 81 per cent. for
Norfolk and Western, &C per cent. for
Rio Grande and Western So per cent. for
Union Pacifis and SO per cent. for Louis
vile and Nashville. The stocks of these
companies showed good resistance to the
reactionary tendency, but the conditions
thus reflected of railroad business were
not sufficient to hold the general list.
Money was easy, though not much effect
was felt from the disbursement of quart
erly interest and dividend payments.
Sterling exchange continued it's upward
course, and the question is now arising
whether the increase in the circulating
medium by the operation of the law of
March 14th may not result in sending
gold abroad by relieving the need for it
in circulation here. The process of TAX
ing out new circulation which had come
to a pause, is reported from Washington
to have received fresh impetus and the
Sub Treasury in New York is again pay
ing out large amounts for premiums on
converted bonds.
The bond market was active today, Wa
bash debenture IBIS" being absorbed on
a large scale. Prices generally are high
err. Total sales (par value) $3,925,0O0.
United States refunding rs when issued
declined " and the 2's and old As a in
the bid price.
The total sales of stocks were SIC, 900
shares, including Atchson, &c. ATS; Atchi-
son, preferred, 81 1888; Baltimore and
Ohio, 12,195; Chesapeake and Ohio, $3.50;
Chicago, Great Western, II ,655; Chicago,
Burlington and Quincy, 14,150; Chicago,
Rock Island and Pacific, 1855; Lake Erie
and Western, 9,537; Louisville and Nash
Vile, 7,088; Manhattan Elevated, 12,425;
Metropolitan Street Railway 5,055;
Northern Pacific, 22,S50; Northern Pa
cific, preferred, 9100; Pennsylvania Rail-
road, $3.50; st. Paul. 2S,510; Southern
Pacific, 24.530 Southern Railway, 9,732;
Southern Railway. preferred, $3.50; Union
Pacific, 1926; Union Pacific, preferred,
S,0S5; Wabash, preferred, 5000; American
Steel and Wire, ~62620; American Tin
Plate, Clio; Anaconda Mining Company,
10,65O Brooklyn Rapid Transit, 24,935;
Colorado Fuel and Iron, 800; Federal
Steel, S8,655; National Steel, 6,275; Peo-
pies Gas, AZ. $685. American Sugar $3.50;
Tennessee Coal and Iron, $50.