The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-01-03

sugar was decidedly disturbing i'm
fiuence and had more effect than similar
breaks have had in the Immediate past
This stock was pushed up one and one
quarter this morning on the published
reports that the proposed advance in the
price Of package coffee was the forerun-
ner of settlement of the sugar trade
war which has been puzzle to Wall
Street for many months. This comfort
ing assurance for holders of American
Sugar certificates received a rude shock
from the announcement which quickly
followed of a cut in the price of granulated
sugar by the American Company, which
was followed by the other companies,
bringing the prices by all to the same
basis. AS the American Company has
been holding its price above that of the
other companies, the bringing of prices to
the same basis IS alleged to be equivalent
TO a settlement But this did not avail
TO save American Sugar from a drop OF
seven and three quarters points, TO 140,
the close being only slightly better New
York public utilities suffered from the
talk regarding the Governors message,
lently reacted from a buoyant early rise.
to realize the effect on the general mark
ct was decidedly oppressive and stocks
were carried down very generally be-
tween one and two points The most i'm
portant stocks in the early rise were,
however, comparatively firm and hand
some net gains were conserved for st.
Paul. Pennsylvania Railroad, Baltimore
and Ohio, Union Pacific, the Fries and
Philadelphia and Readings. These stocks
were the mainstays of the market all day
and were absorbed on an enormous scale,
showing conclusively continued ac-
tivity of powerful speculative forces. AS
to the recipients of the annual disburse-
ment of dividends and interest they were
not much in evidence. With money on
call constantly at per cent. or under
all through the late boom, it would be
fatuous to suppose that these favored
persons would have remained inactive all
through the period that spectators were
buying stocks and advancing prices for
the special purpose of selling to them at
a profit. fea of the day was the
strength of sterling exchange, and this is
believed to lie in anticipation OF lower
money rates here and higher rates abroad,
Notwithstanding that foreign money rates
relaxed apparently today with the Janu-
airy disbursements. Todays clearing
house report showed that Mondays clear
ings of the New York banks in the asso-
citation were the largest on record, foot
ing up $427, 1908, 263. The previous record
was made last week with total of
1864 013. 290.
Business in bonds was very large and
widely distributed and prices were gen
orally higher. Total sales (par valued
$3,455, 900.
United States SIS declined = per cent.
on the last call.
The total sales of stocks TODAY were
1887 800 shares. including the following;
Atchison, o. 100; Atchison, preferred,
10000; Baltimore and Ohio, 22,100; Chess
apeake and Ohio, 1890; Chicago, Burling-
ton and Quincy, 2O.40O; Chicago, Rock
Island and Pacific. 1900 Delaware and
Hudson. 100; Erie, 63,100; Erie, first
preferred. $500; Iowa Central, 6,100;
Louisville and Nashville. 1900; Manhat-
tan Elevated %, 700; Metropolitan Street
Railway. IL. 200; Missouri Pacific. 1900:
Missouri Kansas and Texas. preferred,
q 100: New York Central. 1900; Norfolk
anu WGSlGGus y, tUus ANOl buClh oSfAS, VI,
500; Northern Pacific, preferred, 500;
New York Ontario and Western, $4,000;
Pennsylvania Railroad. 51.S00; Philadel-
phia and Reading, 1880; Philadelphia
and Reading, first preferred, 81 900; Phil
adelphia and Reading, second preferred,
81, 700; st. Louis and Southwestern, $500;
st. Louis and Southwestern, preferred,
1900: Chicago Milwaukee and st. Louis,
75,60O; Southern Pacific $4,000; Southern
Railway, $4,000: Southern Railway, pre-
ferred $500; Texas and Pacific. 10000;
Union Pacific. $4,000; Union Pacific. pre-
ferred 1900; American Steel Hoop. $500;
American Steel and Wire, 27S00; Ameri-
can Tin Plate. 14,600; American Tobacco,
81 200; Brooklyn Rapid Transit, 14,400;
Colorado Fuel and Iron, 200; Continen
tai Tobacco, 22,500; Federal Steel 29,200;
National Steel, 19,200: Peoples Gas Light
and Coke Company, 17,100; Pullman Pal
ace Car Company. 1900; American Sugar,
129, 100 Tennessee Coal and Iron, $500;
United States Leather. 1000; United
States Rubber, 25,0C0; Republic Iron and
Steel, 5000.