The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-12-22

counts open over the holidays. The con-
tinued ease of money in spite OF the
carrying over of loans until Wednesday,
and the favorable forecasts of the bank
statement gave the final flip to the marx
ct and closed animated and strong at
about the top level, the late profit taking
sales being confidently absorbed. North
ern Pacific sold ex-dividend and recov-
cred strongly from yesterdays late re-
action. but the top price was "a, which
was short of yesterdays price by hah
point. The extraordinary speculation IN
Northern Pacific is based on the henent
to accrue from the retirement Of the pre-
fcrred stock, cancelling its privilege TO
share net earnings in excess OF four per
cent on the common. This called atten-
ton to various other common stocks,
whose preferred stocks are limited by the
terms of the issue in their dividend rights.
Atchison common and Denver and Rlo
Grande, common Union Pacific and South
ern Railway were thus affected. There
was a renewal of the advance in st. Paul
and Southern Pacific was lifted above It's
former record price to near 40. American
Sugar had it's period of strength, ana
BROOKLYN Rapid Transit rallied strongly
after early weakness on account OF the
statement of earnings for November All
of these movements were more or less
manipulative, but the speculation showed
the same readiness as for some time 10
follow quickly any marked leadership
The indications are that the movement OF
currency this week has turned strongly IN
favor of New York, and the estimates OF
the amount received on balance for the
direct movement by express run up to
over $4,000 600. In addition the banks
have gained $1,S19,000 on Sub-Treasury
operations. The banks outside OF New
York are known to have continued to
lend heavily on the stock exchange dur
ing the week. This gave rise to the
belief that the bank statement tomorrow
will show another heavy decline in de-
posts as the outside banks in placing
loans here draw on their deposits in New
York banks. A decline in the deposit
item would of course. result in shrink
age of reserve requirements to the bene-
fit of the surplus.
The bond market continued active, but
there were some reactions on protit taking
Total sales (par value) $4,160,000.
United States 3's, old As and IS de-
clined a per cent The new As adj
vanced on the last call Il per cent.
The total sales of stocks today were
1872, 200 shares, including the following:
Atchison, 81 200; Atchison, preferred, 49,
200: Chesapeake and Ohio, 26,S00; Chicago,
Burlington and Quincy, 22,300 Chicago
Rock Island and Pacific. 1880; Denver
and Rio Grande, 13, 100; Denver and Rio
Grande, preferred, 5000; Erie, $4,000;
Erie, first preferred, 237OO; Louisville and
Nashville, IL, ZOO; Manhattan Elevated,
q. AGO. Metropolitan Street Railway, 5000;
Missouri Pacific, 81, 100; Missouri, Kansas
and Texas, preferred, 2S,SO0; Norfolk and
Western, 1858; Northern Pacific lex
dividend) 1900; Northern Pacific Eek
dividend) 11,20O New York, Ontario and
Western, IL 200; Pennsylvania, 500;
Philadelphia and Reading, first preferred,
II. 500; st. Louis and San Francisco, $500;
st. Paul, 63100; Southern Pacific, 12S,SOO;
Southern Railway 2S,500; Southern Rail-
way, preferred, 11,0O0; Union Pacific, 49,
400; Union Pacific, preferred, 300; Wa
bash, 6 300: American Steel and Wire, g.
600; American Tin Plate. 10000; Ameri-
can Tobacco, 1900; Brooklyn Rapid
Transit 73,9O0 Continental Tobacco, s.
300: Federal Steel, 10000; National Steel,
7,4OO; Peoples Gas. $500; American Sug-
ar, $4,000.