The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-01-20
THE NEWS AND OBSERVER SATURDAY MORNING. JANUARY 90
SllncISS AND RONnS.

New York. Jan. 19.-The dullncss and
apathy which have prevailed in the stock
market all the week gave place i'll the
late dealing today to Il considerable show
of animation and strength. Business
brcadencd out and embraced greatly
extended list of stocks and practically all
that were dealt in advanced briskly TO q
level substantially above that of last
might The Immediate motive of the buy
ing movement was the preliminary 'sti-
mates Of the gains in cash for the week
by the Associated Banks.
The money market during The week mas
shown with sufficient clearness that cash
reserves were being largely replenished.
but it is rather Il tradition with stock OPP
orators to defer action to discount the
bank statement until Friday afternoon.
There has been Il very large waiting
contingent in Wall street watching fot
some positive development IN the market
before committing themselves to action.
Many of these came in with buying orders
in force in the last hour today. The pro-
fcsSional traders themselves turned in Il
body to the long side of the market. al
ter having made Il savage drive in the
morning at Third Avenue. breaking THAI
stock over ten points. The amount of
stocks brought out on the decline did NOT
prove very encouraging AND the rest of
the market was net acutelv affected. y
nlHmber OF positive points Of strength also
developed, notably in Missouri Pacific, in
which there was evidence of operations
by Il pool The whole CT the Southwestern
group was affected by sympathy. not
withstanding the deterioration in earn
inos ON account CT Il small cotton move
ment.
American Sugar was prominent tig-
ure in the advance on heavy dealings,
in which the demand from the shorts was
n large factor. These special points of
strength were the vantage points from
the late general advance in prices was
inaugurated. There were rumTs all day
of the relief Of LadySmith, hut as London
sold more stocks than she bought in this
market the rumors were without much
effect 1t is estimated that the .ASsOciat-
cd Banks had gained mp 10 Thursday
night nearly S10.000.00O in cash. the
estimate re;ng based on figures furnished
BY The principal banks of the direct OK
press movenC9t. The tCtal operations
with the Suh-Trcasury have furnished
81. 1916. 600. There has been no evidence
Of any large loan expansion in the stock
market. but the time money market and
that fer mercantile paper has been quite
active. \ notable increase IN surplus
reserve is however. considered assured
The market for railroad bonds continued
broad arI active all day and s;ren@th
was general throughout the list. Total
sales (par valuej S3.220,OOO
United States :i'S declined Il and new
As coupon advanced "A in the bid "ricc.
The total sales Of stocks were 3l4 300
shares. including: Atch.scl preferred. "
IS5: Burlington. 5.510: Manhattan, D
9S5: Metropolitan. 3.lS0; Missouri tacl.
tic. 45.110: Norfolk and Western. o.I31;
st. Paul. 3.31S: Sou hon Railway. o.4oo:
Southern Pacific. bob: TEXAS Pacific.
5.325: Uricn Pacific. 21.225; American
Steel ami Wire. 1.7G0: American Iobac-
co. 14.160: brooklyn RAID Transit. 3D.
$50: American Sugar. 40,lS0; Leather
ITO