The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-11-15

off as prices rose above yesterdays level
The most effective movements of the
day were in Pennsylvania and Northern
Pacific. There were vague rumors af1oat
OF further deals by the Pennsylvania,
Company of the same character as the
stories of requirements of stock in other
companies earlier in the year. The ac-
companying strength of Baltimore and
Ohio, Norfolk and Western, and some OF
the Coalers was intended to give color
TO these rumors, but no authoritative con-
firmation was forthcoming, and the stock
of Pennsylvania was highly mal~ )ulated
all day. The buying of Northern Pacific,
both common and preferred, seemed Of
a more substantial character. The state
ment of the condition of the company
issued by the trustees in dissolving the
voting trust and the desirability of addi-
tional holding for centralized control fol-
lowing the dissolution of the trust offered
plausible motives for the buying The
movement in the local traction stocks and
in General Electric grew out of the
statements in the annual report of the
Manhattan Elevated Railroad Company
as to the progress being made toward
electrical equipment and the cooperation
OF the Metropolitan Street Railway Com
pany. The advances extended all the way
from 1B in Pennsylvania to tx in Gen
eral Electric. These stocks about meas
ure the dimensions of the upward move
ment gains elsewhere being for the most
part in sympathy. Consequently when
heavy realizing developed in Northern
Pacific and Pennsylvania which practical
ly wiped out their earlier gains, and In
Manhattan, the whole market turned
weak again and fell back to an average
level about as low as that of the morn
ing. There was a final rally, but it
was lacking in snap and was not well
maintained. 1.-THE market closing irregular
Pacific Mail, Linseed Oil preferred and
one or two of the Steel stocks were ac-
lively reactionary Call money got up
to per cent again, and the time money
market continued firm and rather active.
Apprehensions of money squeeze are an
influence in the more cautious attitude Of
the speculation, but the fact that the
public demand for stocks has evidentl!
been satisfied for the time being, is the
preponderant fact of the speculation.
The bond market was irregular in
sympathy with stocks. Total sales (par
valued 50. ,0C0.
United States refunding 2s declined 1@
and the SIS, registered. advanced u and
SIS, coupons, as per cent on the last call.
The total sales of stocks today were
922. 400 shares, including the following:
Atchison. 10000; Atchison preferred, 49,
500; Baltimore and Ohio $4,000; Chesa
peake and Ohio, 1900; Chicago, Burling-
ton and Quincy, 13, 900 Chicago. Rock Is
land and Pacific, $500; Louisville and
Nashville. $780, Manhattan Elevated, H.
300; Metropolitan Street Railway. $500;
Missouri Pacific, 10000: Missouri, Kansas
and Texas preferred. 9,100 New Jersey
Central, 5000 Norfolk and Western, 49,
800: Northern Pacific, 101 200; Northern
Pacific preferred, 22,900; New York, On
tario and Western, 24,500 Pennsylvania
Railroad, $4,000; Philadelphia and Read
ing. 10, 100; Philadelphia and Reading first
preferred. GO 900: Chicago, Milwaukee and
St. Paul, $4,000; Southern Pacific, 81 400:
Union Pacific, $4,000; Union Pacific pre-
ferred, 7,200 American Smelling and Re-
fining, 1000; American Steel and Wire,
20 700; American Tin Plate, $1,000; Ameri
can Tobacco, 10000: Brooklyn Rapid
Transit, 1900; Continental Tobacco, g.
S00 Federal Steel 24,700; Pacific Mail,
1900; Peoples Gas Light and Coke Com
pany, 1880; American Sugar, $500; Ten
nessee Coal and Iron. 11,752; United
States Leather, 26,750; United States
Rubber, $500.