The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-03
STOCKS AND BONDS.

SIOCh0 AMI bOIND0.
New York, April 1.-THE Atchisor
stocks took the leadership of the market
away from Union Pacific today, both in
point of strength and activity. During
the most of the day the volume of trans
actions in the two common stocks ran a
close race, but the dealings in Atchi-
son common and preferred easily out
stripped those in the two Union Pacific
stocks. A heavy preponderance of the
total transactions in the whole market
conferred in these stocks. There have
been very confident predictions that the
first dividend on Atchison for hall
year would be two per cent, and it is
likely that large short interest was
accumulated in the stock by those who
had better information. in the expecta-
tions that yesterdays 11a dividend would
bring out heavy offeiingss AS mat
ter of fact the offerings were very moder-
ate. The character of today's buying,
however, could by no means safely be at
tributed either to demand from shorts
or to purely speculative manipulation,
The movement was supposed to be due
TO new phase of the struggle among
the Granger trunk lines to secure for
offset the Burlington deal. Officials OF
the st. Paul were quoted anonymously
this morning as breathing forth threaten
ings of building a new line to the Pa
cifc unless they were accorded share in
the advantages of the supposed Union
Pacific absorption. This corroborates
the current supposition that the Granger
trunk lines feel themselves at tacital
disadvantage if they have not an assured
Pacific coast outlet as we'll as an Eastern
trunk line connection and that all of
them will sooner or later take measures
to secure these advantages, The move
ment of prices today was cited as tiv-
ing evidence that the buying of Atchison
was for the benefit of St. Paul and prob
ably also Of Rock Island. There was a
disposition to attribute the late strength
of Baltimore and Ohio to plans for MAX
ing that road the Eastern outlet and the
late squirt in Norfolk and Western and
Chesapeake and Ohio were supposed to
indicate alternative possibilities. The
declaration of the first dividend in Nor
folk and Western of one per cent, was,
however the more plausible explanation
of the strength of the last named stocks.
The feverish and erratic fluctuations of
Union Pacific were amply explained by
the new uncertainties surrounding the
present ownership Of its control. There
were various rumors both to the effect
that the Vanderbilt interests had per-
fected their control and that the Harri-
man interest had secured the maintenance
of their control. Every movement in the
stock and every rumor regarding the con-
troll were looked upon with suspicion by
the uneasy spectators as device to
further the contest, and underlying all
was their dread that when once the
actual control is decided the high price
will not be maintained. The exreme range
of the stock was six points and the net
loss 49, Atchison advanced an extreme
118 and closed within a fraction of the
best. st. Paul is "a higher on the day,
Chesapeake and Ohio 31s and Norfolk
and Western 17s. The stocks included in
the Burlington DEAL the Erie stocks not
excluded, were all notably heavy. The
heavy profit taking and weakness of the
United States Steel stocks had a large
sentimental influence on the whole mar
ket New York Central was quite Sc
verely handled and loses 37s on the day.
Except for the few special points of
reactionary. The money rate was dis
tinctly firmer today, ruling at six per
cent early in theday, and it was said that
a number of the banks were calling loans
The closing of the market was easy and
almost weak except for the final squirt
in Atchison.
Union Pacific convertible bonds con-
tinued very active and the bond market
otherwise was irregular. Total sales
(par value) S7,165, 900.
United States refunding rs coupon de-
clined u and the SIS Il per cent on the
last call.
The total sales of stocks today were
1883, 200 shares, including the following:
Atchson SOC, 100; Atchison preferred 1885,
AGO. Baltimore and Ohio SO 500; Chesa-
peak and Ohio 151, 500; Chicago, Burling-
ton and Quincy 300; Chicago, Rock
Island and Pacific $4,000 Colorado South
ern $500; Erie so, 100; Erie first preferred
900 Illinois Central 1890 Louisville
and Nashville 15,50OA Manhattan Ele-
waited $500; Mexican Central 81, 800; Mis-
souri, Pacific II, 100; New York Central
20 800 Norfolk and Wesern 5000; North
ern Pacific 60 600 Northern Pacific pre-
ferred 1900; New York Ontario and
Western 56,400; Pennsylvania Railroads
1900; Philadelphia and Reading 22,70O;
Philadelphia and Reading first preferred
10 800; Philadelphia and Reading second
preferred 12,400; St Louis and South
western $500; Chicago, Milwaukee and
St Paul 119 500; Southern Pacific $4,000;
Southern Railway 22,60O; Southern Rail-
way preferred 14,100; Texas and Pacific
900; Union Pacific 545, 100; Union Pa
cific preferred 27,9O0; Wabash 9,400;
Wabash preferred 1900; Amalgamated
Copper 1880; American Tobacco Is, 800;
Brooklyn Rapid Transit 1880; Continen-
tai Tobacco 1900 Glucose Sugar $500;
National Biscuit Is, 800; Peoples Gas
Light and Coke Company $500; American
Sugar Refining $500; United States