The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-10-05

of the market saw very active trading
with very small fluctuations in price after
the opening, which was made higher to
facilitate the taking of profits. The gen
eral demand was judiciously fed by the
professional operators in order not to dis
courage the buying, but before the end Of
the hour an impression began to be made
in the railroad list. Selling for London
account was an additional factor toward
depression. When prices fell back to
about last nights level the selling pres
sure was relaxed. The bulls then turned
their attention to other quarters of the
market bidding up prices actively where
ever any signs of strength showed in
order to support the market and help on
the realizing. They found the best field
for these operations in the Steel and Iron
group. Various factors combined to give
strength to these stocks. The final set
Element of the Tin Plate wage scale was
stimulating influence not only in these
stocks but throughout the group. The
Tennessee Coal dividend episode gave the
final dip to the stocks in this group. AS
sertons have been made with great bold
ness and have been published that the
dividend on this stock was sure to be
today. When the news was published
therefore that the regular quarterly divi-
dend of two per cent had been declared
large short interest was badly caught
and violent recovery ensued The first
sale after the announcement was two
and three eighths points over the preced-
ing sale. The stock ran off again in tho
final dealings but closed with a net gain
Of three and three quarters. Sugar and
Peoples Gas was very feverish all day as
a consequence of the cut in refined sly
gars and the legal steps taken in the gas
war in Chicago. American Sugar has
small net gain and Peoples Gas small
net loss. With the exception of wide
movements in some of the closely held
dormant stocks, the railroads continued
sluggish during the latter part of the day.
The whole market ran off at the close,
which was easy and quite active. The
decision of the directors of the Bank of
England to leave the official rate I'M
changed at four per cent was accepted
favorably by the bulls, who argued that
it insured imports of gold. but the sterl-
ing exchange market Unexpectedly de-
veloped firmer tone and the rate for
demand bills recovered &c. Call loan
rates also advanced to three per cent to-
day, but fell back to two per cent before
the close.
The bond market continued irregular
and not very active. Total sales (par
valued s1,1SGCCu.
United States new As declined u per
cent. in the bid price.
The total sales of stocks today were
423, 500 shares, including the following:
Atchison, IL. sos; Atchison preferred, 3d.,
$50; Baltimore and Ohio, $3.50; Chicago,
Burlington and Quincy, 1,250; Manhattan
Elevated, IFS; Metropolitan Street Rail-
way, 2,445; Missouri Pacific, 14,525; North
ern Pacific, 1904; Pennsylvania Railroad
5,0S6; Philadelphia and Reading first pre-
ferred, $50; st. Louis and Southwestern
preferred, 1870; Chicago, Milwaukee and
ST. Paul, 10,100: Southern Pacific, 1880;
Texas and Pacific. 7,725; Union Pacific,
80 $50; American Steel and Wire, 1885;
American Tobacco, II $50; Brooklyn Rapid
Transit, 27S99; Peoples Gas Light and
Coke Company 1884; American Sugar,
"A, 795; Tennessee Coal and Iron, 20,S75.