The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-10-17
rHK NEWS AND OBskKykk WEDNESDAY MORNING OCT H.

| ings both in this stock and in others
| which we're manipulated for rise, fell
| away notably, leading to recurrent pc
riods of dullness during the day. Nor
| folk and Western gave most conspicuous
evidence of concerted efforts for a rise
! next to Union Pacific. But these move
ments by the bull party did not become
prominent until after very large selling
to realize had been accomplished The
greatest part of the first hour was given
up 10 furious activity and a somewhat
waverlng upward movement, marking
the FEEDING OF the outside demand by
those who had accumulated stocks at the
lower level. The taking of profits during
this period must have been on a very
large scale. The subsequent efforts to
resume the advance met with a number
OF drawbacks ard the heavy undertone
or the market gained force as the day pro-
crossed. The closing was distinctly
heavy with prices below the best and
net losses in some important stocks, while
the striking net gains were confined 10
comparatively few cases. The sudden
Frightening in the money outlook by rea-
son of Saturdays bank statement and
the gold import movement gave the bulls
and opportunity for a swift turn against
their opponents. There was some posi-
tive weakness in Peoples Gas as re-
suit of the proposition for municipal con-
troll of the selling price of the product
and some of the Steel stocks gave evil
dence of depression. There were recess
sons in the anthracite Coalers on the
delay in the strike settlement. THESE and
other minor considerations would have
been ineffective in yesterdays rush to buy,
but in the pause today they had added
influence. One large engagement of gold
was announced for import but there is a
falling off in the number of
cotton bills Offering in the exchange mar
ket which Promises to reduce the accu-
Credits from foreign cotton buy
ers
The violent reaction in the price of
cotton has checked the export demand.
While this has diminished the cotton bills
Of exchange there is a corresponding fall
ing off in the recent large demands from
the South for money. Money market con-
ditions in New York remained unchanged
today, but there was some renewal of an
apprehension that a later money strin-
gency might not be entirely avoided,
The bond market showed continuance
OF Yesterdays improved conditions, prices
generally advancing on an enlarged de-
mand Total sales (par valued $2,170,0OO.
United States refunding rs and the old
As advanced Is per cent on the last
call.
The total sales of stocks today were
532, 400 shares, including the following;
Atchison, 14,140; Atchison preferred, 49,
613; Baltimore and Ohio, 1895; Chesa-
peake and Ohio, 1903; Chicago, Burling-
ton and Quincy, $3.50; Louisville and
Nashville, 1855; Manhattan Elevated, 20
920; Metropolitan Street Railway, $50;
Missouri Pacific, II ,410; Norfolk and Yves
tern, 22,C30 Northern Pacific, 1880;
Pennsylvania Railroad, 1880; Philadel-
phia and Reading first preferred, 500;
Chicago Milwaukee and st. Paul. 1924;
Southern Pacific, II ATS; Southern Rail-
way. 1875; Southern Railway preferred.
$50; Union Pacific. 3,142; Union Pacific
preferred, 6,665; American Smelling and
Refining, SIPS; American Steel and Wire.
s, 1875: American Tobacco, 15,040; Brooklyn
Rapid Transit, 1897; Continental To-
bacco, SOP; Peoples Gas, 1915; Ameri-
can Sugar, 20, $50