The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-04-03
STOCKS AMI BONDS.

STOCKS AMI BONDS.
New York, April 2.-Today's stock
market was .emptestuous and uneven.
1t was swept by storm of liquidation
this morning, which caused some vio-
lent declines and carried prices below
yesterdays level throughout The
bears did not seem disposed to pursue
the contest in face OF the characterter
of support which they encountered
Earlier losses were largely recovered,
but the late activity and strength of the
market centered VerJ largely in Bur
lington and Northern Pacific on a re-
yival of reports of transfer of control
of the former. Burlington had sold
down to 175s on the realizing movement,
but on the rally it gained Roadway on
the belief that the terms offered to
stockholders would be equivalent to $50,
and the prices crossed that figure by an
eighth, and then fell back on realizing.
Northern Pacific touched 81. The gem
eral market recovered well after the
shorts began TO cover and the turn had
been made, but it did not follow Bur-
lington and Northern Pacific to a mark
ed extent in their fnal squirt and the
closing was decidedly on renewed
profit taking. The early break was in
some part due to the perception that
the United States Steel Stocks had been
opened high by manipulation and that
realizing in them was very large. The
whole market in fact opened higher on
the average, the Steel stocks all show.
ing strength and Burlington, St Paul
and Manhattan gaining a point or over.
The same brokers Who sold United
States Steel so heavily yesterday con-
tinued selling today. Probably not lit
tie realizing was induced by the an
nouncement which had been discounted
of the inclusion of the Lake Superior
Consolidated Iron Mines and the Amer
lean Bridge Company In the merger.
The increase in the capital of two hum
dred and fifty million dollars over that
first contemplated also leaves a liber-
al margin to the account OF the syndicate
after the terms of the additional ex-
change have been fulfilled. Dealings in
the Steel stocks continued in enormous
volume. On the break Rock Island was
handled with notable severity, being
forced 2 IA under last nights close The
Steel stocks we're also CONSPICUOUS in the
decline. But there were stocks in prac-
tically every important group which
were forced from one 20 two points I'M
der last night The Southwestern rail
roads were prominent in the rally.
The money margin was helped by the
disbursements of Government interest
the checks for which passed through
the clearing house today and made the
Sub Treasury a debtor to that institu-
tiCn to the extent of S2, 332, 822. But the
Sub Treasury has already taken So, 1922
600 from the market since last Friday,
notwithstanding payment on account
of a deposit of $7500OC in foreign gold
made at San Francisco Sterling ex-
change rates We're slightly lower, but
continental exchange hardened and ad-
ditional gold exports are expected. The
late rally was helped by the announce
ment from Washington that the Secre-
tary of the Treasury had bought ST.
0OO,C00 of short term bonds in New York
for the sinking fund.
The bond market continued active and
irregular.N Total sales (par value) ST.
715,000.
United States refunding 2's advanced
Ia per cent Don the last call
The total sales of stocks today were
1,646100 shares, including the following:
Atchison 22,100; Atchison preferred 49,
700; Chicago Burlington and Quincy
154600; Chicago, indianapolis and Louis
vile 11,400 Chicago, Indianapolis and
Louisville preferred $500, Chicago and
Northwestern 5000; Chicago, Rock Is
land and Pacific So, 400; Delaware and
Hudson $500; Erie So, 200; Erie first pre-
ferred 13, 100; Hooking oal 1900 Louis
vile and Nashville !4,5G0 Manhattan
Elevated $4,000; Metropolitan Street
Railway $500: Mexican Central 7,40O:
Missouri Pacific 1906 Missouri, Kan
sas and Texas 21,000, Missouri Kansas
and Texas preferred 23,fA0; New York
Central 20 zoe; Norfolk and Western s.
300; Northern Padifc S4,1G0; Northern
Pacific preferred 10, 1DG: New York. On
tario and Western 1890 Pennsylvania
Railroad 5000: Philadelphia and Read
ing 11,600; Philadelphia and Reading
first preferred II roo; Philadelphia and
Reading second preferred Al 400; ST. |
Louis and Southwestern preferred s.
900; Chicago, Milwaukee and ST. Paul
S. 500; Southern Pacifil q 300; Southern
Railway Is, 800; Southern Railway pre-
ferred 1900; Texas and Pacific 81, 400;
Union Pacific %, 500: Union Pacific pre-
ferred S,600; Wabash preferred 1880;
National Tube 6,20G; Amalgamated
Copper 1920; American Smelling and
Refining 900; American Tobacco 49,
800; Brooklyn Rapid Transit 1900; Col
orado Fuel and Iron 34.10O Federal
Steel 1890; Peoples Gas Light and
Coke Company 5000, American Sugar
Refining $4,000; Tennessee Coal and Iron
10, 400 United States Leather $780,
Western Union Telegraph II 400; Repub-