The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-01-30
STOCKS AND BONDS.

New York. Jan. % The stock mar
l1et was again dominated by St. Paul
today with some occidental disturb
ance from the erralic fluctuations of
Steel and Wire. These TWO stocks real
ly made the market and prices moved
somewhat liza rowly and on small VOL
ume of transactions IN sympathy with
them throughout the day. Southern
Pacific was notable exception to the
general tendency OF the market. 1t
was bought largely all day and in the
late dealings rose an extreme rs to
AZ, carrying same other stocks, notably
among the Changers and Pacifics, with
it. But renewed weakness in the two
leaders carried prices except for South
ern Pacific down aga.n, leaving only a
few insignificant net gains among the
larger list of losses. There was no news
to account for the movement in South
ern Pacific, beyond the argumSlt of
the spectators in the stock that an adj
vance in it's price vas long overdue.
Mobile and Ohio made a very notable
rise of 67s accompanied by rumors of
absorption or control by the Illinois
Central. New York Central gained two
points on very light transactions and
Manhattan and Leather showed signs
of strength American Express gained
Az without any explanatory news. The
opening break in ST. Paul was violent,
the stock dipping 43s to $50 under the
pressure of heav blocks to sell. Later
in the day it got up as high as 1913 twice
and wavered uncertainty between that
and ISL, closing with a net loss of "a.
The emphatic disclaimer by all the ST.
w In nf
yesterdays explicit assertions that ar
engagements lad been completed for the
transfer of control of the Great North
ern and the Northern Pacific made it
clear that whatever plans We're
that result. there were consid-
stockholders to it, That a very large
portion of the heavy dealings in the
stock are purely speculative is mani
transactions alone aggregated more
tbaa half the humbei of the total share
capital OF the company. This could
only be the result of large professional
traslers being in AMI out of the stock
on a heavy scale many time. In Steel
and Wire the low POINT was made at
- soon after he opening and the stock
then rcboundsd to above Al before the
announcement was given out that the
promised statement would be withheld
until 8 D. - instead of being publish
ed at IL o'cl@cK. Outing the afternoon
the stock got as high as 41%, but closed
at a net loss of q. the prevailing state
of minds Of spectators in the stock
was evidently one % entire uncertain
~ as to the effect the statement would
have upon holders and the uncertainty
is likely TO continue. as no action has
been taken on the actual question of
the dividend The congested and UNI
even character of TIL trading is indicat-
ed by the fact that hot a single share
of such a usually active stock as Am
erican Sugar was sod until we'll into
the second our OF the trading, and
the first sale of Tennessee Coal was re-
corded after one O'Clock. A considerable
export of gold ON Thursday is assured
and is already $1.5000i0. The continued
firmness ,oday of sterling exchange
here and the further fractional advance
at Paris sire ngthen the superstition
that the outward movement Of gold
from New York will shortly be divert
ed from Paris to London.
The railroad bond market continued
moderately artive with an irregular
movement OF prices. Total sales (par
value) 1885 1000.
United States SIS and new As adj
vanced Il per cent on the last call
Todays total stoctl sales We're 7S0,700
shares. including the following:
Atchison, 11,1OO; Atchison preferred
: ,art Oh
14,SOO Chicago. Rock Island and Paci-
fc, 1920: Elje. 15t,0; Erie first pre-
ferrcd. 1900 Manhattan, Is sOO; Mobile
and Ohio, 10 200: Missouri. Kansas and
Texas preferred. 629h. Northern Pacific
$1,000 PennsH lvania RaiIroad. 1850;
Philadelphia and Reading, $500. do Sec
nnd nrcferra1 G ann ST I.l.l inc nnn.