The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-08-30
STOCKS AND BONDS.

a revival of speculation at this time stu
further receded today and the business
transacted at the Stock Exchange was
about the smallest of the year. Sucn as 1t
was it was done above yesterdays clos
ing prices, but the recessions from the
best prices toward the clos of the lay
revealed the strictly professional charac-
ter of the dealings and left prices near
to last nights level. Yesterdays cheek
to Tuesdays selling movement had APP
parently aroused some hope that re-
newed buying movement in farce might
be imminent. This ranged the profession
ais on the buying side and accounted Tor
the upward movement, while the closing
out of their accounts was equally
responsible for the reaction. London was
reported a buyer in This market TO an
effective degree, considering the narrow
ness of the market. This, coupled with
a free supply of grain bills caused
further reaction in the sterling exchange
market. The London money market at
the same time hardened appreciably, in
part owing to the demands incident to
the pay day for the stock exchange set
Element. Exchange authorities do not ex-
press much expectation of any inward
movement of gold in the early future.
The supply of exchange bills is in some
part connected with the making of ster
ling loans and any stiffening of foreign
money rates would be likely to bring
a demand for exchange in connection
with the release of these loans. The
weekly Bank of England statement
showed an additional strengthening of the
condition of that institution but the re-
turn of the Bank of France is weak,
Il ol;, ia he fro1I
expansion OF the note circulation and q
heavy increase in outstanding loans Con-
dtions in the local market continued
practically unchanged
There was an additional 100000 trans
ferred to Chicago by deposit at the Sub
Treasury and without this that institu-
tons Withdrawals from the local money
market had reached 1921 900 up to last
night Coupled with the large special
mo1 ement to Philadelphia known to have
occurred early in the week and the move
ment of currency by express to the in
terror a large decrease in cash reserves
is taken for granted as an item OF next
Saturdays bank statement. The time
money market is very dull, owing TO the
disposition of leaders to keep their funds
in call loans to meet any emergency.
There was some special demand at diff
ferent times today for ST. Louis and San
Francisco and Canadian Pacific on the
large net earnings reported for July. for
Missouri Pacific on vague expectations OF
coming developments; for international
Power on the large orders for new loco
motives: for the International Paper
stocks On the conditions reported at the
annual meeting; for the Fries on the hope
that labor difficulties among the anthra-
cite miners would be avoided, and for
Mexican National, Mexican Central. Balti-
more and Ohio and some other stocks for
undiselosed reasons. Ameri IAN Smelling
! declined on rumors of competition organ
izaton, but rallied sharply.
There was liquidation Of Standard
Rope and Irvine issues which broke the
price Of the skies four points, and of
the incomes two points. Central of Geor-
gia first incomes fell one and three-quar
ters. The bond market otherwise was
slightly irregular. Total sales (par value)
| l.S20, GOO.
| United States SIS advanced is, and the
| call.
The total sales OF stocks today were
| 2o2 100 shares, including the following:
| Atchison, O,400; Eric, $4,000; Erie first
! preferred, 1890; Erie second preferred,
! $780, Mexican National 20. 200; Missouri
| Pacific, 1,100 New York, Ontario and
| Western, 10, 400; Philadelphia and Reading
| $500; Chicago, Milwaukee and st. Paul
| $780, Southern Pacific, 1920; Union Pa
| cific, 25,700; Wabash, 1880; American
| smelling ana Refining, 1890; United
| States Steel Corporation, 1880.