The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-18

the business conditions of the country
and the earning power of properties were
unimpaired, encouraged the buying. The
evidence that forced liquidation growing
out of the panic had been completed, was
thought to leave the way open for re-
newed advance. The indications for to-
morrow's bank statement were of such
strong recuperation that some pressure
to lend money seemed probable not far
in the future. 1t should not escape no.
tice, however, that the principal buying
of the day came through the same chan
nels as that which marked the leadership
of the recent bull speculation into its
last stages of excess. These operations
were supposed in Wall Street to be in
Spired in the interest of the great COM
binations of capital whose measures of
consolidation have produced a crop of
nav -saa,,ni+i
cessfully marketed to insure the reim-
bursement of the expenses of those con
solidations The belief in the settlement
of the Northern Pacific controversy is
felt to offer assurance of more effective
naturalization of the whole Western rail
road territory than has ever before been
known.
Inc prominence u lue SlOChS VI ran
roads in that region was due to this
cause. There were very definite reports
afloat that a dividend on Missouri Pa
cific at the rate of 5 per cent was an
early probability. The movement in the
local fractions was due to the inaugural
ton of the underground trolley on adj
ditonal lines If the Metropolitan Street
Railway and estimates of the dement's
to result to the Manhattan system from
the use Of electricity. American Sugar
was affected by reports of an agreement
with the coffee interests ana was heavily
bought for Boston speculative accounts.
reported settlement with the city au-
thorities giving assurance against inter-
ference was the cause of the strength of
Peoples Gas. The better prospect of a
sttlcment with the machnists and the
progress of measures towards renewed
organization of the United States Steel
Corporation companies indicated by the
election of new directors induced buy
ing of the United States stocks Reports
of large deposits of stock in assent to
the proposed exchange with Amalgamated
Copper explained the demand for that
stock There was talk of closer rela-
tions between the American and Con-
tinental Tobacco Companies. The Pennsyl-
vania Railroad was said to be perfecting
it's control of the subsidiary coal carrying
roads. Such individual causes of strength
might be considerably extended, but
enough has been said to indicate the
character of some of the markets
strength Gains all the way from two
TO ten poins are shown by an extended
list of stocks, and their last prices were
practically at the top Owing to the
heavy receipts from the interior the
banks are expected to show a gain in cash
in tomorrow's statement of nearly S.
0OO, 900 after allowing for gold exports.
This promise neutralized the effect of the
| falling due on Monday of the third in
stallment on Union Pacific bond sub
scription, involving $10,000,000.
The bond market was broad and prices
were we'll sustained. Total sales (par
value) $3,455, 0OO
United States 3's declined Il per cent
on the last call.
The total sales of stocks today were
| 983, 800 shares including the following:
Atchison, 40, ZOO; Atchison, preferred, %,
| 400; Chesapeake and Ohio, IL 600; Chica-
go, Burlington and Quincy, $4,000; Erie,
| 81. 100; Illinois Central, 6,100; Louisville
| and Nashville, 10, 100; Manhattan Ele-
waited. 10 100; Metropolitan Street Rail-
way. 5000; Missouri Pacific, $4,000; New
York Central, 1000; New York, Ontario
| and western, Is 200; Pennsylvania 1890;
Philadelphia and Reading, $500; Phila-
deIphia and Reading first preferred, g.
| 700 Philadelphia and Reading, seconc
| preferred, 1O,70O; Chicago, Milwaukee ant
ST. Paul 80, 700; Southern Pacific, 22,1OO
southern Railway, 1920; Texas and Pa
| cific, II 100; Union Pacific, $4,000 wabash
600; Wabash, preferred, $780, Anal
gamated Copper, 90 100; Linseed Oil, pre-
TERED, $500; American Tobacco, 52,Soo
Brooklyn Rapid Transit, $4,000; Contin
entail Tobacco, 141OO; Peoples Gas Ligh
and Coke Company, IS, 200; National Lead
T. 100; American Sugar Refining, 5S,2Oo
United States Steel Corporation, 4S,2OO
United States Steel Corporation, prefer
red 28,300, Chicago and Alton, LOO
Mexican National, $500; Toledo, st. Loui
and Western, $500; Toledo, st. Louis an
Western, preferred, 1000; Consolidate
Gas, 5000; International Power, $500
!. Republ Steel and Iron, 5000.