The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-28

all through the list. After Denver ana
Rio Grande had risen three and half
there were successive responses in Iowa
Central. Norfolk and Western, Fort
Worth and Rio Grande and Western, TIE
Wabash stocks United States Leather,
Hooking Coal, North American, Philadel-
phia and Reading second preferred, Next
can Central and Ann Arbor. and New
York, Ontario and Western Of from one
to three and five-eighths. This diversion
of speculative activity from high-priced
dividend paying stocks to low priced
stocks is very usual accompaniment OF a
long sustained bull movement on the the
DRY that the low priced stocks are entitled
to rise to adjust their val
ues to the dividend payers At
this time there is the additional argu-
ment which gains force from a linger-
ing fear of a possibility of a money
squeeze incident to the early settlement,
that the low priced stocks are safer to
hold on margin, as the margin represents
in some cases nearly the full value OF the
stock. In addition to these features OF
strength in today's market there was an
opening rush to buy Peoples Gas, which
made the prices 10 or three and three
quarters above last night. Although it
fell back three points, it was well sus-
tanned at the lower level and closed with
net gain of one and three quarters on
the strength of the reports of Vanderbilt
requirement of the stock. American
Sugar was very feverish over wide
range, rallying very strongly after an
early decline and closing with net gain
Of three and a quarter. Chicago, Mil
waukee and st. Paul moved up in the late
loalings pretty near to 141, coming with
in less than a point OF Chicago, Burling-
ton end Quincy. Uneasiness over the
money market was again allayed by the
abundant funds Offering on call which
carried the rate down to four and half
per cent. IN the late dealings. This was
an influential factor in rallying the mark
ct. and the bears who sold freely in the
early trading covered again on a large
scale before the close.
Business in bonds continued large and
the market gained in strength as the day
progressed. Total sales (par valne)
So, 100 900.
United States old IS ard SIS advanced
", refunding rs Is and 9's u per cent.
on the last call.
The total sales of stocks today were
- l1,oUU SHARES, IuCiuullS tile lOilOWlu6s
Atchison, $1,000; Atchison, preferred 21,-
100; Chicago, Rock Island and Pacific.
16,4 AGO. Delaware and HUDSON. 10000;
Denver and Rio Grande, % 500: Denver
and Rio Grlnde. preferred, G,000; Erie,
SO, $780, Erie, first preferred, 2lS0n; Louis
vile and Nashville. $500; Mania tan Ele-
souri,, Kansas and Texas, preferred 100000
souri,, ansas and Texas, preferred, 2l.G00
New York Central, 1890; Norfolk AMI
Western, 19,400; Northern Pacific, t6.6o0
Northern Pacific, preferred. 7,4GO; New
York, Ontario and Western, 125, 900; I nm
sylvania Railroad, 1910 Philadel hia
and Reading, IL, 100; Philadelphia ard
Reading, first preferred 50, 700; PhilGdei-
phia and Reading, second preferred, A.
500; St. Louis and Southwestern. $500;
st. Louis and Southwestern, preferred,
5000; Chicago. Milwaukee and st. Paul,
112 200; Southern Pacific, 49,100 Southern
Railway. 2s,900; Southern Railway, pre-
ferred, Is, 400; Union Pacific, preferred,
10000 Wabash. 81 200; American Steel
and Wire, 1920; American Tobacco, 49,
400; Brooklyn Rapid Transit, so 800; Fed
eral Steel, 24,100; international Paper,
$500; Peoples Gas, 900; American Sug-
ar, 124.SOO; United States Leather, $4,000.