The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-02-19
SEABOARD STOCKS AND BONDS.
baltimore, Feb. --Seaboard Air Line common
l340l3M; preletred 81 p G3oss.
2ouds As 1871
STOCKS AND BONDS.

STOCKS AND BONDS
New York, Feb 49, Today was one OF
active speculative liquidation in the stock
market The bears took a very active
part in the days proceedings both by
short selling and by manipulation for the
decline, offering prices down freely and
boldly. There was not much evidence OF
determined support, except by the SYM
pathetic influence OF the persistinG
strength of few individual stocks. Be
sides the extraordinary movement in the
Steel stocks there was decided strength
shown by the new Toledo, St. Louis and
Western stocks. St Louis and San Fran
cisco second preferred Illinois Central.
Cleveland Lorraine and Wheeling pre-.
ferred, Amalgamated Copper and Consol-
idated Gas. There was evidence of con-
tnued activity on the part of bull poo.
in Burlington, and the other Grangers
showed some sympathy at one time,
There was some support at intervals ais ;
by sympathy with Delaware and Hudson,
which was extremely erratc ali day. Il
sold down early points and then ros,.
ga over Saturday. There was a down
ward plunge in the period of general
WCdkHCSS VI 0 pOlHlSs anu TIE illfll ldliy
Left the net loss only ~ In the Steel
stocks it was clear enough that specula-
tors were attempting 10 adjust prices
to the supposed terms of exchange OF
the existing securities into the stock of
the new combination. The tape made il
pretty clear that in the present condition
of the plan OF combination the preferred
stocks are intended to benefit in the ex-
change far more than the common stocks.
The first class were all extraordinarily
buoyant and the common stocks showed
signs OF decentralization. Hoop preferred
advanced at one time ~ and other gains
by the preferred stocks were Z by Tin
Plate, by Federal Steel, 4 by Steel and
Wire and "a by Republic Steel. These
advances were curtailed by the reaction
in the market. National Tube led the
decline in the common stocks OF the Steel
group, breaing four points, and closing
at the lowest. The losses of the oth-
ers were partly recovered, but at one
time Colorado Fuel was down "A, Ma
tional Steel and Tennessee Coal 4, Fed
eral Steel 37s, American Hoop 3d. Steel
and Wire ga, and Tin Plate 25s. In the
general list the reaction ran all the way
from one to three and a half points, the
wider losses being among those stocks
which have been most manipulated for
an advance, notably the Southwesterns,
including Missouri Pacific and Kansas
and Texas preferred, and some of the
lately developed obscure stocks, such as
Evansville ard Terre Haute and the new
North American stock. 1t was clear
enough that the dubious outlook for the
money market was the impelling cause
OF the liquidation, and not any serious
doubt YET entertained over general condi-
tons. In fact the liquidation did not ap~
pear TO be voluntary but was forced by
the uncovering of stop loss orders on the
decline, which the bears were able to
eject. With the wiping out OF margins
,tocEs were thrown on the market to pro-
tect brokers and commission houses which
we're carrying them for customers. The
advanced ar one time 71a and other gains
call loan rate went to 2A per cent during
he day but dropped back to per cent,
partly due to the receipts of a $500 0C0
credit by one OF the banks for Australian
gold arrived at San Francisco. Bankers
continued 10 express confidence that there
will be no actual stringency but such
arge Requirement s for credits due to the
heavy financial transactions in progress
remain still to be met that sentiment over
the money outlook is nervous.
Very heavy buying of Southern PACT
As was the feature of the railroad bond
market The tendency elsewhere was
gen, q y reactionary Total sales Jpai
value 5,525 COO
United States old As advanced Il PEI
cent on the last call
The total sales of stocks today were t.,
III 500 shares, including the following
Atchison, $4,000; Atchison preferred, 10,
GOO; Baltimore and Ohio, 600; Burllng-
ton, l51.100; Chicago, indianapolis and
Louisville 1900: Rock Island "a 900; Del
aware and Hudson, % Geo; Erie. 14100;
Erie first preferred, 500; Illinois Cen
trail, 13, 500; Louisville and Nashville, 49,
800; Manhattan, 10000; Metropolitan
Street Railway. 5,100 Missouri Pacific
II. 1000, Missouri, Kansas and Texas pre-
ferred. - 500 New York Central, 1850
Norfolk and Western, 9,400; Northern
Pacific, rs, 500; New York. Ontario an(
western. 8, 400: Pennsylvania, 1880
Reading, $500; Reading first preferred
II. 900: Reading second preferred, 1920
ST Louis and San Francisco 5000; st
Louis and San Francisco second preferred
800, st. Louis and Southwestern Pre-.
fcrred, 1920; ST, Paul, aa,300 Southern
Pacific, %, 100; Southern Hallway, l9,DQ0
Southern Railway preferred, $500; Texa:
and Pacific. 5000; Union Pacific, 1880
Union Pacific preferred, 1850; Wabasl
preferred, If 500 Amalgamated Copper
9l0O; National Tube, l4,200; American
Smelling and Rafping, l2,40O; American
Smelling and Refining preferred, $500
J American Steel Hoop, $500: AmerieaI