The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-11-08
STOCKS AND BONDS.

market was much broader any diversified
than that of yesterday and the aggre-
gate dealings rose we'll above yesterday
to nearly a million and a quarter shares.
There was enormous realizing IN the
stocks, which led the advance. The
heaviness of Northern Pacific preferred,
which fell rs on comparatively light
transactions taken in connection With
the reaction in Union Pacific and st.
Paul would be supposed to Indicate doubt
as to the Northern Pacific settlement,
the more so as no authorized state
ment of the terms of the settlement or,
even OF it's actual contamination can be
had from any sources. The conviction,
however. remains strong in speculative
circles that the agreement is in fact
perfect. although nothing on the sub
ject but acauiescent smiles or vague in
timations can be had from insiders. The
Confederation offered by the tape is
considered conclusive and also that
Union Pacific and st. Paul are to benefit
substantially by the agreement, but just
how in the case of the latter is not even
intimated. The selling of those stocks.
therefore, was accepted as due to mere
realizing of speculative profits, while
the market continued to advance with
vigor at other points. The forcing to
cover of the bear interest in some of the
specialties recently under pressure was
an important influence in the advance,
conspicuously so in Amalgamated Cop
per. sugar, and Peoples Gas. Among the
trans continental stocks the Atchisons
alone continued the advance with any
great show of energy.
The common rose at one time 2ss and
Southern Pacific got IA over yesterday
but lost it all on the reaction. A rise
of 3B in New York Central was fea-
ture of the market and liftd1 with it a
number of the Junior Vanderbilts
/; Lately current ruInors of pending con
centration of the system and increased
distribution of profits were revived in
connection with the movement. The
statement of October earnings for New
York Central showing an increase of IL
per cent over those of last October was
also an influence. The coal carrying
roads. both in hard and soft coal terri
tory were in notable demand and show
gains of / to points. The United States
Steel stocks developed strength at gains
of point for the common and rs for
the preferred on glowing accounts of the
activity in the trade. There were many
rumors flying of a determination on the
part OF insiders to advance these stocks,
but the rise met with very heavy realiz-
ing. and the gains were largely wiped
out. The movement to realize became
very general before the close and the
-, IT, Il
entirely wiped out in few cases. The
payments of the Sub-Treasury in re-
demption Of bonds and for the deposit OF
Australian and Klondike. gold at Pa
cific Coast points are so far offsetting
the firain on other accounts that the
money question is kept in allegiance.
The market closed easy under the in
fiuence of realizing.
The railroad bond market was very
active, but the reaction in Union Pacific
convertible bonds made an otherwise
strong market irregular Total sales,
par value, S6.S1O.000
United States bonds were all un-
changed on the last call.
Total sales of stocks to-day were
1,214SO shares, including Atchison, ST.
500; Atchison, preferred, 81 900; Balti-
more and Ohio, 17,100; c. & O., $4,000;
Chicago, Indianapolis and Louisville
5000; Chicago and Great Western. $500
Chicago Terminal and Trans, preferrd1
$500; c., c.. C. and St. Louis. $500
Delaware and Hudson, $500; Denver and
Rio Grande, preferred, 100; Erie, SS,1OO
Erie, first preferred. S,400; Illinois Cen
trail $500: Louisville and Nashville
14,6OO; Manhattan, 24400; Missouri Pa
cific, 49, 500; New York Central, $4,000
Norfolk and Western, $500: Northern
Pacific, preferred, $780, o. and W., b.
| 700; Pennsylvania, 31,700; Reading 10000
| Reading, first preferred, 1900; Reading
second preferrI1, 20,65O; ST. Louis ant
! San Francisco, 12,100; st. Louis South
western, preferred. 5000; st. Paul, 80,
| 200; Southern Pacific, $4,000; Southern
Railway, $4,000; Southern Railway, pre-
| ferred, 300; Texas and Pacific. $500
| Union Pacific. 207, 100; Union Pacific
| preferred, $1,000 Wabash, preferred $500
| Copper. 44,300; Smelling, 10,100; Brooklyn
! Rapid Transit. $500; Pacific Mail, 14,20o
! Peoples Gas, 1920: Sugar 12,700; T.
c., l., 10000; United States Steel, $4,000
| United States Steel, preferred, 44,SO0.