The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-06

in the list they were replacing their fund,
in other stocks which had not moved
last week. or in which the movement had
been only inauglrated. This, with trad
inc proceeding on an active scale and the
movement OF prices taking on considera-
bile degree of irTegularity, the market pre-
scented all the characteristics OF true
bull movement Upward movements in
prices were easily achieved, and the spec
ulative sentiment showed itself quick 10
respond to any news Developments re-
gardng special stocks. Thus a number OF
railroad stocks responded quickly and
emphatically to returns OF earnings OF
the fourth week in January showing large
increases over the high level of last year.
The leaders of the railroad list were the
Norfolk and Western stocks, the fourth
week statement showing an increase OF
S122.3;4 over last year. As tins IS one
off the roads which. by reason of previous
heavy OUTLAWS, is able to reduce the cur
rent rate OF operating expenses, llie
showing was doubly effective. The c0En-
mon stock advanced 33s and the prefer
red 10. Louisville st. Louis and san
Francisco. Denver and Rio Grade and Il
number of other railroads responded 10
good statements Of earnings. st. Pau!
and burlington showed renewed strength
on reports of an Improvement in the
movement Of grain over Western lines,
in addition to the extraordinary move
meIt of general merchandise.
The Iron and Steel stocks continued
very prominent, and the leadership here
was shifted Also under the influence OF
realizing in American Steel and Wire and
some others. The new leader of the
group was National Steel. which was
very heavily bought on floating reports OF
enormous earnings for the past year to
be shown by the forthcoming report. Re
ports of similar kind have been UNI
needed for months past in Wall street, but
today the stock shot up under their in
fiuence an extreme 3Ts. Other members
of the metal group closely allied by iden-
tity of ownership moved in close sym
patty. American Steel Hoop and Ann
crican Tin Plate are in this class. Re
public Iron and Steel, rhe American
Smelling and Refining stocks and Ana
conda We're also strong. The market
closed active and strong at best prices
for many stocks.
The bond market was irregular ana
not 50 active as of late. Total sales (par
Nalut1 -,IOS,tou,
United States old As. new is and 5's
advanced II in the bid pllce.
The total sales OF stocks were I03.3oV
shares, including: Atchison preferred.
1921: Baltimore and Ohio 22S60; Bur
lington, 5000; Rock Island, $500 Louis
Vile and Nashville. $3.50; Manhattan
Elevated, 1880: Metropolitan Street
Railway. G,90o; Missouri Pacific, 100;
New York Central, 6.050; Norfolk and
Western. 4G,475; Norfolk and Western
preferred. 10,09J; Northern Pacific. H.
234; New York Ontario and Western.
5000; Reading first preferred, 10,lO0: 81
Paul. 1875; Southern Pacific 4S.lto;
Southern Railway preferred, 6.400; Union
Pacific, 29.GJ0: American Smelling ana
Refining, 10.520; American Steel Hoop,
$3.50: American Steel and Wire. 1920;
American Tin Plate. G,2S5; American
Tobacco. 90, 100; Brooklyn Rapid Transit
1860: Federal Steel, 1929; National
Steel, 80, 135: Peoples Gas. 1928; Amer
lean Sugar, G0,675; Tennessee Coal ana
Iron. $3.50; United States Leather 81
$40: Republic Iron and Steel, 1888