The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-07-03

from Chicago emphasized the influence
of the news of crop conditions. The de-
liveres of grain at Chicago showed a
still further increase over last weeks to-
tai and at 6 1886 900 bushels were the larg-
est for the corresponding week in over
five years. with the exception of last
Fyear from which the falling off was about
% per cent. The receipts at primary
points showed only small decline from
last weeks large aggregate. The will
ingness thus shown by the farmers to part
with their wheat at present prices serves
somewhat to discredit the alarmist re-
ports of the present shortness of the
wheat crop. The shipments of Chicago,
both of flour and of grain also showed
good increases. These considerations
proved so offensive as to offset the days
unfavorable showing of net earnings for
May The report Of the Chicago, Burling-
ton and Quincy, by reason OF heavy
charges for operating expenses, showed
the increase in gross earnings more than
wiped out and the decrease established
in the surplus after fixed charges was
no less than 60 per cent. The same
causes were at work in the case of the
Louisville and Nashville, the net earn
/ SSAAS'
from last years level
Nevertheless these two stocks shared
fully in the days strength. The figures
of the large July disbursements of divi-
dends and interest were another factor
of strength in the market. These are
estimated variously at from 500 000, 900
to 1926, 900, 900. 1t is pointed out from
that that a larger portion than ever be-
IN
this country owing to the large buying of
American securities from foreign holders.
The bidding up of prices today represent.
ed the effort by professionals to antici-
pate the coming pressure for reinvest-
ment In fact, the whole movement was
largely in professional hands, the advance
being accomplished on small volume of
business and with the obvious intention
of improving the level of prices, rather
than. of securing stocks as cheaply as
possible. The Steel stocks were strong
in the early dealings, in spite or the
news of continued decline in prices OF
product and the widespread closing down
Of mills pending an adjustment OF wage
schedule. There was also a reaction in
the price of pig lead. The metal stocks
generally did not hold their best prices.
The same was true of the Coalers.
American Sugar was comparatively quiet
and was inclined to react from the big
prices. The following depression was
attributed to serious aspects of the Chi
nese question, and to the disastrous fire
in Hoboken on Saturday, but the reflected
influence in this market was overcome
within five minutes.
/ A long list of bonds sold ex-interest
this morning, and many of them made
good progress towards recovering the
amount of interest. Total sales Guar
value) $1O35, 900.
United States refunding coupon rs
when isued) advanced 4 and United
States coupon 2's registered Is, New As
declined Il in the bid price.
The total sales of stocks today were
297 900 shares. including the following:
Atchson preferred. 25.675; Baltimore and
Ohio, 1905; Burlington, 1915; Rock Is
land, 5,575; Union Pacific, 1860; Southern
Pacific, $3.50; st. Paul. IS, $780, Reading
first preferred, 22,49O; Pennsylvania. g.
725; Northern Pacific, 22,7O5; Missouri Pa
cifc, 7,645; American Steel and Wire, c.
OS5; mercan Tobacco, 1880; Brooklyn
Rapid Transit 1920; Federal Steel, s.
$40; Tennessee Coal and Iron, $500;
American Sugar, 10,447; Peoples Gas, o.
235.