The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-17

be overcome and the majority Of stocks
show net losses on the day. In the
standard stocks these losses are small,
but the decline from the early high range
was considerable. The opening was
above last nights level in sympathy with
London but even in the initial trans
actions the weakness of the local trac-
ton and of Pacific Mail served to I'M
settle the market. Prices sagged pretty
steadily from that time until the bear
operators among the room traders start
ed TO cover their short contracts in the
final dealings. This rallied thu level of
the market from the lowest. but the
movement was lstless and entirely with
out force. London was not encouraged
by its good news from South Africa to
buy stocks here and in fact sagged in
the home market. Consols lost all or
their early gain,supposedly on the immi-
nence of a new issue. But London was
disposed to take profits at all points,
even Rand mines showing a sharp re-
action from the early advance. There
was no occasion for surprise, therefore,
that the local market failed 10 hold
the advance on the South African news.
The bears had not as much ammunition
in the shape of the weakness of special
stocks as they had yesterday, but the
general tone of the market was never
theless reactiOnary. The bears made in
roads upon Pacific Mail. United States
Rubber, but otherwise no very wide
breaches were made in values. The local
traction stocks were inclined to rally
with the cessation of pressure against
Third Avenue. American Sugar was err
ratio during the early part of the day
but became firmer towards the close with
considerable effect on the general list.
The general public maintained its atti-
tude of apathy, and was the main cause
Of the heaviness. Probably some vague
uneasiness is beginning to be felt also
regarding the winter wheat crop, be-
cause the ground is bare of snow, leav-
ing it exposed to- the cold.
According to reports from the leading
banks shipments of money by express
this week are nearly million dollars
greater than last week, while the re-
ceipts from the interior by express have
fallen off considerably over Il million dol
lars This would indicate q net loss on
the interior movement of nearly mill
lion Of dollars, bringing the total loss,
including Sub-TreasUry operations over
SO 100000 1t is known that some gold
has been received from Canada which
does not figure in this estimate.
There was a good absorption of some
dormant railroad bonds at advancing
prices. but changes generally were ir-
regular. There was quite an active mar
ket for government bonds. presumably
on account of the passage of the refund
ing bill by the Senate. Total sales OF
bonds (par value) S2,025,000.
United States new As advanced Il
while old As declined Il in the bid price.
The total sales of stocks We're 31S,S00
shares, including: Atchison preferred,
Z ,450: Baltimore and Ohio, $3.50; Bur
lington. 1860; Manhattan Elevated. D.,
1872; Pennsylvania Railroad, 1850; st.
Paul. 5.425: Southern Pacific. 9,215:
Union Pacific 1890; American Steel
and Wire, 6.230; American Tobacco. 10
$50: Brooklyn Rapid Transit, IA 100;
Pacific Mail. 1916: Peoples Gas Tex
dividend. $3.50; American Sugar. &C.,
10; Tennessee Coal and Iron, $500:
United States Leather, 1920.