The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-04-02
STOCKS AND noNDs.

volume of dealings in the United State:
! Steel securities today brought the ag'
! gregate sales of stocks OH the exchange
| within measurable distance of thu
! largest dealings on record for single
! day. The largest single days transac.
tions were those on January 7th, OF this
/ year. when the aggregate sales reached
| 2127, SOB shares. The total for today was
| 1853, 800 shares, which has only beer
exceeded by the record day. The large
part played by the United States Stee
stocks even IN such broad and active
market as that of today is indicated by
the sales of the common and the pre-
ferred. those of United States Stee
amounting to 216,100 and those of Unit
ed States Steel preferred 16S,S00 shares
or for both $4,000 shares, WHICH was
% per cent of the total dealings. 1t is
very evident that the activity of the
United States Steel Corporation stocks
on the exchange ,withstheir bulky CAPT
talization of 100000 shares, according
to today's amended certificate of in
corporation, is TO constitute new era
Pin the volume of dealings for individual
stocks. Single commission houses today
did a sufficient business IN these stocks
alone to realize a handsome fortune
simply from the brokerage commissions
on their operations. One house was
credited with selling upwards of 10Q,-
600 shares of United States Steel pre-
ferred and various other houses between
sc, 900 and 100000 shares of either of the
other stocks The resources required for
the support of a stock in which the
dealings are On such scale, that is to
say, the confident purchase of all the
stock that may be offered at current
quota tons, stagger the imagination.
But the days event proved that the
powerful syndicate back Of these secur-
tiles was equal to the task. 1t is cur
rent belief that the market manage
ment of the stocks is urder the care of
the most conspicuous and widely
known professional operator in the
street The offerings which We're hurl
ed on the market fairly staggered the
prices for a period but they We're rail-
lied and moved upward through the
avalanche, the common rising 21a and
closing a the top While the preferred
rose an extreme l Ii md closed within
Is of the top The course of these
stocks had large influence on the I'LL
innate movement of the whole stock
market. There wera points of great
strength here and there in the early
dealings, but the profit taking sales
were on an enormous scale and the
movement of prices highly irregular and
conflicting until past tie noon hour.
Many of the opening advances were
about wiped out before the final out
burst, which carried prices to the high
est of the day. A final realizing move
ment carried the most active stock
down again from one to two points, and
made the closing very irregular Re-
public Steel preferred rose an extreme
Ga, Sloss- Sheffield preferred Az, and
Tennessee Coal and Iron S-S. None of
these advances were fully maintained.
Money market conditions were en-
tirely ignored in the eager speculative
spirit. Although Government interest
are expected tc yield
over $3,00O0O0 to the money market to-
morrow, the absorption of cash by the
Sub Treasury on routine operations
continues very large SSterling exchange
advanced fraction to the gold export
point today on the large demand from
stock houses, who are buying American
stocks abroad. After the stock market
had closed a 100000 gold shipment to
Europe for tomorrow was announced
and that is expected to go during the
week. The tone of the money market
was distinctly harder but not the
slightest effect was produced on the
speculation.
The bond market was not so active
relatively as the stock market, but
business was large ant1 the movement of
prices Irregular. Total sales (par value)
81, 036, 600.
United States 3's and new As gained
Ia per cent on the last call
The total sales of stocks today were
| ,855,S00 shares, including the following:
Atchison. 54,l00 Atchison preferred. 5O,-
S00 Chesapeake and Ohio 5000: Chi
cago, Burlington and Quincy, SO, 300
Chicago, Rock Island and Pacific, 1876
300; Colorado Southern, $500; Delaware
and Hudson, 500; Delaware, Lackawan-
ma and Western, 5000 Erie "a, 400 Erie
first preferred. $4,000, Hooking Coal.
1900; Illinois Central, 10000; Lake Erie
and Western, $500; Louisville and
Nashville, 11,600; Manhattan Elevated.
81 900; Metropolitan Street Railway, H.
300: Mexican Central, $500; Missouri
Pacific, 10,S00 Missouri, Kansas and
Texas, 6,1o0; New York Central, 1920
Northern Pacific, 81 LEO: Northern Pa
cific preferred, $500; New York, Ontario
and Western, 14,S00 Pennsylvania Rail-
road, 10000; Philadelphia and Reading,
80, 500; Philadelphia ard Reading first
preferred $4,000; Philadelphia and
Reading second preferred, $4,000; st.
Louis and San Francisco, 5000; st.
Louis and San Francisco preferred, g.
100; Chicago, Milwaukee and st. Paul,
l0l 200; Southern Pacific. 69,400; South |
ern Railway, 11,100; Southern Railway
5000: Texas and Pacific, TO-
100; Union Pacific, 1900; Union Pacific
preferred, $500; Wabasl. preferred, H.
800; American Smelling and Refining,
I3,lOO; American Tobacco, 20S00;
Brooklyn Rapid Transit. 25,6O0; Colo
ado Fuel and Iron. 2l,10U; Continental
Tobacco, 500; Federal Steel $500: In
.ernational Paper, $500: International