The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-13
STOCKS AND BONDS.

number of usually dormant securities was
| taken by traders today to demonstrate
increased interest in the stock market
on the part of the outside public. Gains
in these properties were more extensive
than in the usual market leaders and ex-
tended to four points in some cases. Du-
ring the forenoon there was great anima-
ton and strength with speculative inter-
est radiating from one group OF stocks to
another Factors which contributed to
the days rise included traffic statements
for the first week of December embracing
all sections of the country and showing
substantial increase. The fact that as
yet money rates have not exceeded six
per cent. and that today the highest fig
ure made was 51a, which tapered off to
per cent. before the close, rendered
spectators less uneasy. With the alb
sorption by the Sub Treasury on internal
revenue collections and transfers to the
interior the banks thus far this week
have lost 1920, 900. Rates for sterling
exchange continued to yield sixty day
bills declining Nc. 1t is understood that
the question of imports of gold is being
considered by prominent institution on
the basis of allowing interest on the
money while in transit With this re-
lief in sight should conditions become
stringent in the money market, specula-
tive pools became active and forced con-
Siderable covering of short lines. The
market for Americans abroad was de-
scribed as buoyant and the arbitrage
houses bought about $4,000 shares on bal
ance for London. This demand was prim-
arily responsible for the weakness in
sterling exchange rates as offerings of
commercial acceptances were only mod
! crate. At the outset of business the coal
stocks we're the principal features and
generally got we'll above last nights close
on an enormous demand. These propert-
les later on showed the effect of heavy
realizations. Heavy buying developed in
the slow stocks owing to encouraging re-
ports of the trade outlook. American Tin
Plate made the extreme rise of 27s. but
American Steel and Wire was the most
active and a good second with gain Of
2h Satisfaction over the annual report
published by the Brooklyn Rapid Transit
Company promoted a demand from the
stock and strengthened all the fractions
! temporarily. There was very heavy buy
ing at intervals in the Changers, Pacitics
and some of the Southern and Southwest
ern stocks with Burlington. Kansas and
Texas and Texas, preferred, and Louis
Vile and Nashville especially prominent
/ During the earlv afternoon after the for
eign buying had ceased. the demand show
ed signs of exhaustion and prices were
inclined to yield. Not much impression,
however. was made on prices when the
traders realized and there were few
strong spots which kept the general
market pretty well in check. Unusually
large dealings in the Lake Erie and
Western stocks caused a rise of four and
three and a half respectively for the
common and preferred, and New York
Chicago and ST. Louis first preferred
jumped four points to sixteen. An in
crease OF half per cent. to two per cent.
in the semi annual dividend on the Min
neapolis, st. Louis common stock resulted
in a rise of two and a half points in its
prices. In the final hour a raid was made
on Tennessee Coal and Iron and the stock
broke four and three quarters per cent.
on rumor that the directors were in
session and had passed the quarterly divi-
dend on the stock. This movement un-
settled the entire market and prices fell
away rapidly averaging point for the
most prominent railroads and extending
American Tin Plate being most affected
When it became known that the report of
dividend action on Tennessee Coal and
| Iron was unfounded the stock rallied two
points and all other stocks recovered
somewhat. speculation leaving off strong
again and active.
Business in bonds was very heavy and
notable strength was displayed by Kan
sas and Texas Issues. Philadelphia and
Reading As got up to 1914 yesterday early,
but lost practically the rise in sympathy
with the decline in stocks. Realizing
sales depressed the Erie issues all day,
the general As closing a point off The
market otherwise was embarrassing and
irregular. Total sales tpar valued
| So, 070 900.
United States refunding IS registered
! advanced "a and new As 4 per cent. on
! the last call
! The total sales of stocks today were
| 800 shares. including the following.
! Atcbison, 1880; Atchison. preferred.
p, 800; Chesapeake and Ohio 1850: Chica-
go. Burlington and Quincy. 12.945 Rock
Island and Pacific 500: Delaware and