The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-21

to take prOHLS III NOFlHeIH = oOAAtS
other stocks which had shown the most
aggressive strength during the day. Inc
rush to sell Northern Pacific was causeu
by the publication in news bureau
bulletin of the statement that piaA
had been perfected for the voluntary re-
tirement of the preferred STOCK IN Jan
uary by exchange for general lien three
per cent bonds 100 per cent of the bonds
being given for the preferred stock. lhls
statement was not vouched for as by
official authority, but it caused sud
den drop in Northern Pacific to 81 IL,
the price having touched 80 IL or slx
and three quarters points over last night.
This movement in Northern Pacific was
the main feature of the market but there
were various other important movements
which seemed to have relation TO 1t in
Guiding the Wisconsin Central stocks,
Pere Marquette stocks the Erie stocks,
and Chicago Milwaukee and st. Paul. The
street was full of rumors of plans for
combinations looking to a new trans-con-
tinental line and to the consolidation OF
interests in Northwestern territory. The
gains in the group mentioned extended
all the way from two points up to SIX
and three quarters in Northern Pacinc
There was besides a vigorous upward
movement in Missouri Pacific, which car
ried it four and quarter points over last
night and caused a revival OF many ole
rumors of plans for extensive consolida-
ton amongst the Gould southwestern
Railroad companies. rise in Union Pa
cifc to seventy eight seemed to be due
to an attempt to adjust the discrepancy
in value between that stock and North
ern Pacific. Illinois Central rose buoy
antly in the morning three and quar-
ter per cent on belated demand to Sc
cure the rights of subscription at par to
the proposed new stock issue, which are
limited to stockholders of record today.
American Sugar was one of the features
among the Specialties with a rise oil
three and three eighths which was at
tributed to a turn against the shorts by
the calling in of long stock A rise OF
four points in General Electric and
full recovery of yesterdays violent decline
in New York Air Brake were on very
light dealings and attracted very little
attention. Quite number of obscure low
priced stocks were awakened from long
dormant state and moved upward from
one to four points, with no other appar-
ent reason than to adjust their prices
to the higher level recently attained by
L.
very broad, but the reactionary tendency
was quite marked through large por-
ton of the list. including the Vanderbilt
group. The directors meeting for the va
rious companies in this group today failed
to bring any confirmation of the recently
varied rumors of stock Establishments and
retirements, pointing conclusively to the
manipulative character of these rumors
But this seemed to have very little eff
feet on the credence given to today's ex-
tensive crop of new rumors. The main
tenance of the Bank of England's dis
count rate at four per cent had bracing
effect on the market and the continued
ease of money here failed to offer any
check to the active speculation.
The market for railroad bonds con-
tinued active and strong without impor'
tant exception. Total sales (par valued
81 ,915 900.
United States 3's, old As and SIS ado
vanced IA and the new As declined Ia
per cent on the last call.
The total sales of stocks today were
/ ,5S4 500 shares, including the following:
Atchison, 24,4O0 Atchison preferred, 3D.
500: Baltimore and Ohio. $500; Chesa-
peake and Ohio, 80, 500: Chicago, BuTling-
ton and Quincy, $500 Chicago, Rock
Island and Pacific, 49, 700; Denver and
Rio Grande, 5000; Denver and Rio Grande
preferred 9.100: Erie, 100000; Erie first
preferred $3.50; Illinois Central, IL 300;
Louisville and Nashville. 15,300 Manhat-
tan Elevated, 1900; Metropolitan Street
Railway, 10, 800; Missouri Pacific, $4,000:
Missouri. Kansas and Texas preferred,
28, 500: Norfolk and Western, 1920;
Northern Pacific 213,9O0; Northern Pa
ciic preferred, SO 800; New York, Ontario
and Western, 10000; Pennsylvania Rail-
road. Is, 200; Philadelphia and Reading,
| Ii, 100; Philadelphia and Reading firsts,
| Il 800; Philadelphia and Reading seconds,
| 81 100; ST. Paul, SO 500; Southern Pacific,
| 81 100; Southern Railway, 1880; South
ern Railway preferred, 6,100; Texas and
| Pacific 20 800; Union Pacific, $4,000; Union
| Pacific preferred, q 400; Wisconsin Cen
| trail, 10, roo; American Smelling Refining,
| 103 900, American Steel and Wire, 9,400,
| American Tin Plate, 10000; American
| Tobacco, II 800; Brooklyn Rapid Transit,
| A, 200 Continental Tobacco, 10000: Fed
| eral Steel, - 800; Peoples Gas Light and
! Coke Company, BOO; American Sugar,
| 1874 900; Tennessee Coal and Iron, 9,4OO;
| United States Leather, 6,i0G; Western
| Union Telegraph Company, 5000,
| STOCKS.