The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-01-29
STOCKS AND BONDS.

New York, Jan 2S.-The huge proper
ton of the dealings in ST. Paul made it
the dominant factor in todays market.
Its Influence was marked on a very few
stocks most nearly affiliated with it, and
the general list showed a dragging ten.
dency both on. the upward and the down
ward course. The violent and erratic
movements in st. Paul kept the market
confused and unsettled for the greater
part of the day. There were considerable
gains established during the early deal
ings and later in the day prices fell con-
siderably below Saturdays level but the,
met changes are for the most part small
and some gains are mixed with the pre-
ponderant losses. St. Paul was at one
time nearly three points above Saturday
and at another time over two points be-
low, and closed the day with a net loss
OF Ia on sales of 252000 shares. The
intermediate movements were excessive
~ erraric and fevertsh. A very noticea-
BILE feature Of the trading in the stocks
was much heavier volume of transac-
tions on the advance than on the decline.
Very heayy offerings had to be taken.
in fact, before the advance was inau-
gurated, the price running OFF point
from the opening under the crushing
weight OF the offerings and very heavy
blocks being taken at each stage of the
advance. When the price had touched
1889. the buying demand received an
abrupt check and was not at any time
afterwards equal to that of first hour, al
though there were considerable revivals
of demand from time to time On the
down Grade from 15S3s to 1879, the offer
inss did not appear to be of overwhelm-
ing volume, but there was not sufficient
demand to absorb them. The tipster this
morning put out statements in great de-
tail of the completed plan for The trans
fer Of St. Paul stock in exchange for
bonds of the Great Northern and North
ern Pacific. II was further announced
that the plan would be officially publish
Cd today Up to the close of business the
promised plan had not been published
and This was all the news of the day
bsf ring on the stock. The ST. Paul move
MT nj Was supplemented by a strong rise
in Kansas ara Texas preferred and in
Manhattan. The first ire gularity of the
ms Ikei was caused by weakness in the
Steel group. in which the opening gains
had been moderate. The session of the
directors CT the American Steel and Wire
Company focused the attention of specu-
lacrs m The group. No decision was an
ncuncod on the dividend question before
the market closed, but the stock after
selling down TO 3Ssz, had a spasmodic rail-
~ to Il IN the final dealings The other
Steel stoclS which had weakened IN
sympathy. notably Federal Steel did not
have time to respond before the close
There YVES a sudden stiifening of Southern
Pacific IN the final dealings also but the
closing generally was heavy ard dull
The cause Of he reaction n tie nlurf<t e
seemed 10 be confined 10 technical
grounds. the spectators who bought 80
largely on Saturday on the strong bank
statement selling to realize AID finding
err little demand to absorb their n.fef-
ings. London was a small seller On ball
ance through the usual channels. iut
the further advance in sterling cXthan.e
made il evident that the homeward more-
ment of securities continued very heavv.
The atmosphere of the London sock eX-
charge was reported to be serene and
recent apprchensions regarding this
weeks mining settlement seemed To he
aliayed Business in railroad bonds cor
tinucd large and prices advanced il the
early dealings but Welded in sympathy
with stocks Total sales Il bonds (pd
valuc) $S.S7e,OOO
United States bonds were all unehang
CO on the last call.
The total sales OF stocks today were
zoos. 200 shares. including tho following:
A:chison. $4,000; Atchison preferred. H..
90; Chicago Burlington and esnlncy ~
SOC: Chicago, Rock Island and Pacific, %,
500: Erie. 1900: Eric first preferred.
1880: Louisville AMI Nashville tex-dvi-
dendl. 1900; Manhattan Elevated % 100
Missouri. Kansas and Texas. lsgO Mis-
souri,, Kansas aud Texas preferred 81 100