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

strength, also served as a sustaining
| force for a very large amount of profit
| taking, as has constantly been the case
recently. After the manner in which
| Londons weakness was ignored on Satur-
| day, the apprehensions of trouble there
today were not looked TO for much effect
here. But the unexpectedly favorable
aspect of affairs there did serve as a
| hllip to the market and London buying
here was factor of strength although
| there was sufficient selling for that ac-
| count in other stocks to leave the buying
on balance only small. The strength of
the sterling exchange market in face of
| London buying here was very significant.
| Commercial bills of exchange against both
| cotton and grain are reported rather
scarce, and it is probable there is some
demand for exchange for remittance Of
annual obligations in London. But the
special demand for sterling is probably
| TO be explained by the lending of New
| York money in London. The eXigencies
| of the London market and the abundance
of funds in New York, in spite of all the
extraordinary demand, point to such
process being in progress. The year
closed with a six per cent. call loan rate
only momentarily maintained. 1t ran off
afterwards to five per cent. and lower.
This was partly due to the fact that many
loans last Friday were made to carry over
until Wednesday.
There was some diminution in the buy
ing Of bonds and prices declined in some
portions f the list while advancing at
others. Total sales (par yalue) $4,375,00O.
The notable relapse in the prices of
Government bonds is a significant re-
hinder that the price premium COM
manded by the process of refunding into
the new rs is no longer payable by the
Government, the refunding operations
ceasing today.
United States old AS declined ga, SIS
/ ga 3's COUPON / 1-2, 3's registered ]
IA; rs rs and new As 1-2 per cent on
the last call.
The total sales of stocks today were
/, 349, 800 shares, including the following
Atchison sc, 440; Atchison, preferred, 3d.,
ESQ., Baltimore and Chic, 10000; Chesa
peake and Ohio, II 900; Colorado Southern,
5. 900; Chicago, Rock Island and Pacific,
is, 500; Delaware and Hudson, 1900 Erie,
IS. 600: Erie, first preferred, $4,000; Louis
Vile and Nashville. II 700 Manhattan,
23, 800; Metropolitan Street Railway, g.
400: Missouri Pacific, 1860; New York
Central (ex-dividend) 1860; Norfolk and
Western, 1900; Northern Pacific, $4,000;
Northern Pacific, preferred. $500; New
York, Ontario and Western 26,600 Penn
sylvania 1000; Philadelphia and Read
ing. 10 900; Philadelphia and Reading.
first preferred az, 800; Philadel hia and
Reading, second preferred, 1880; st.
Louis and Southwestern, preferred, 800
Chicago, Milwaukee and st. Paul. 81 SEQ,
Southern Pacific, $4,000; Southern Rail
way, $500; Texas and Pacific, 22,7OO;
Union Pacific, l43.9OO; Union Pacific rre-
ferred, 24,60O; American Smelling and
Refining, $500; American Steel and Wire,
II .700 American Tobacco, IL 400; Con-
tinental Tobacco 5,400; Brooklyn RAPID
Transit, $4,000; Federal Steel, 10000;
North American Company, $500; Peoples
Gas Light and Coke Company 1880; Sug-
ar, 119, 500; Tennessee Coal and Iron,
5. 900; United States Leather, 5000.