The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-01-31
The NEWS OBSERVER WEDNESDAY MORNING. JANUARY 81 1900

animation at the best prices of the day.
Although there was substantial increase
in outside interest the market must still
be described as largely professional. Tie
strength was also TO great extent
spotty. That is to say, n comparatively
few stocks or groups of stocks rose
buoyantly while the large part 81 ne
list moved in a more sedatc manner, but
stil upward. But while this Is true ol
a perspective view of the whole market,
there was nevertheless notable bro''t'
ening out in speculative interest, not Only
through the usually active list but ern-
bracing many dormant stocks. It mas
been manifest for some time that the
floating supply of stocks was small ana
that prices moved easily on any consid-
cradle demand. but this and everything
else seemed unavailing 10 invite any con-
siderable demand Even the obvious I'M
Willingness Of prices to go down ana the
determined ignoring Of tho depressing IN
fiuences reflected from the London mar
kct have seemed until today TO be viewed
with apathy by the speculative public
These events have. OF course, tended TO
build up q confidence i'll the stability OF
values. and apparently il needed only
timent into an active buying movement.
The action OF the directors Of the
American Steel and Wire Company YES
terday in setting aside years dividend
for the common stock at the rate Of
seven per cent and its handsome years
showing WAS the effective incident which
sent the quotations n full point apar;
on running sales. The stock scored q
subsequent advance which put up an eY-
IRENE five points. It's net gain is As.
This aggressive strength had marked
sympathetic effect on all the metal
stocks, all the more so on account of he
extreme depression from which they bave
long suffered There was large de-
mand from an eager short interest N
Sugar, and the prevailing cold weather
resulted in sudden jump il tbs llice
Of the Coalers.
In the railroad hist the Changers and
all the Pacific and Southwestern stocks
were in notable demand, but the whole
list was strong. The only thing to :lc-
count for the sudden drop Of III in
Pittsburg, c. C. and ST. Louis was 4 re-
port of a new pittsburg- Chicago lire in
contemplation Chesapeake and Ohio
was heavy. perhaps IN sympathy The
first two hours of trading recorded AZ
many sales as the recent average for a
full days business. While the marked
is still large professional, the calbsr or
the operators is obviously much heavier
than those recently in evidence. individ-
ual transactions Of a thousand shares
and upward being frequently recorded.
Bonds showed increased activity and
were strong throughout. Total sales (par
valuel $l,ol0,000.
United States old Is, registered. adj
vaneed 81 and old Is, coupons, Il in the
bid price
The total sales OF stocks today wer"
1920 shares. including the following;
Atchison preferred, 6,225; Chesapeake
and Ohio, 1900; Burlington. 1890;
Manhattan. $500; Metropolitan, 6,225;
Missouri Pacific. $3.50; Philadelphia ana
Reading first preferred. 2S.611: st Paul,
5.445; Southern Pacific, $3.50; Union
Pacific, 6,120: American Steel and Wire,
SS,775: American Tobacco. 11.430:
Brooklyn Rapid Transit. 10TH; Federal
Steel. 1878; American Sugar, 81 30;
Tennessee Coal and Iron, 5.l20: United
States Leather. 940o.