The news & observer., 1901-03-06

buying was based diStinctively on the
large earnings. Sugar get above last
night for brief time after the declara-
ton of tie regular quarterly dividend. but
fell 2h in the late dealings. closing with
a net loss of rs. Yesterdays movement
in Almagamatcd Copper continued in
force today carrying that stock up an eX-
treme Az. closing practically al the top
Gas stocks showed continued strength
General Electric rose four points. Pa
cific' Mail lost as much, but recovered two
points. The bituminous coal carriers
showed signs of strength The Steel
stocks were decidedly neglected, the
common stocks as a rule being rather
heavy while there was some strength
among the preferred stocks. United
States Steel was rather duh and about
steady in the outside market.
The payment of fifty per cent on the
purchase prices for the Southern Pacific
yesterday amounting to over S20,00O,O0O
brought the clearing house balance today
up to the hioh grade of many of the
credit obligations ar present held by
New York banks. and large changes are
not likely to occur in the items of the bank
statement. bv reason of liquidation OF
heavy loans to great corporations, where
there is simply an exchange of securities
involved without any corresponding in
crease of capital issues. The item in the
balance sheet of the PENNSYLVANIA Rail-
road Company of $206j0.000 under the
head of collateral investment obliga-
tons is an example of such loans, repre-
senting borrowings by that company in
eide Mt to last years purchases of securi"
tics to control other companies.
The bond market showed some increas-
ing activity and strength. but continued
rather irregular Standard Rope 6s
broke points. Total sales (par value)
s5.525. .000.
United States refunding 2s and new As
coupon declined Is and do counon a. The
3's registered advanced n per cent on the
last cell
The total sales Of stocks today were H.
COS 100 shares. including the following:
Atchson. 15.10O: AtchisoD. preferred. O..
90O Baltimore and Ohio. 22.400; Chesa
peake and Ohio. 10.450: Burlington. -, 600: :
Rock Island 400: Delaware and Hud-
son, $500: Eric. first preferred. 500:
Louisville and Nashville, 300; Manhat-
tan. 10, 100; Metropolitan. $500: Mexican
Central $500: Missouri Pacific, 5000;
Missouri Kansas and Texas, preferred,
300: New York Central. $500: Norfolk
and Western. IA. 300: Northern Pacific.
81 400: Northern Pacific. preferred. 5000;
Ontario and Western. 10000: Pennsyl-
yania. 10000; Reading, 16.200; Reading.
first preferred. 22.300: second preferred.
10000: Ct. Louis and San Francisco. TO-,
200; s. Louis and San Francisco. second
preferred. $4,000; ST. Louis Southwestern.
$500: st. Louis Southwestern. preferred.
$500; st. Faul 13.100; Southern Pacific.
$500: Southern Railway. 12.100 Southern
Railway, Preferred. 1850; Texas and Pa
cidc. 29,500; Union Pacific, $4,000: Union
Pacific. preferred. 5000; Baltimore and
Ohio. preferred. $4,000 Amalgamated
Copper. 5000: American Smelling and Re-
ining. 5000; American Steel Hoop. 5000;
American Tobacco. II 400: Anaconda Min
ing, $500; Brooklyn Rapid Transit. $500:
Continental Tobacco $500; Federal Steel.
.5.300; Federal Steel. preferred. 15.S00:
General Electric, 1900: Peoples Ga~
19. .1O0 Sugar. i09.900; Western Union,
$500