The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-09-12
STOCKS AND BONDS.

New York, September 1.-THE organ
lied protection of the market by concert
of the financial powers was still in evil
dence to some extent today. There was
much realizing on all advances by this
element of holdings acquired on Saturday
and early this week in the furtherance
of the purpose to support the market.
This realizing was accomplished prob
ABLY on demand from uncovered shorts,
as there was no evidence of an outside
interest in the market or of disposition
to accumulate stocks by large banking
interests. The position Of the market is
thus restored approximately to that
which obtained before the attempt on the
Presidents life on Friday afternoon.
The purpose to protect the market on
the part of the combined capitalists is
not changed, apparently, but there was
not the same effort shown to advance
prices or invite speculation. This is the
natural outgrowth Of the relief by SELL
ing to realize that has already been ac-
complished this week and of the desire
to protect the money market from any
inroads in the shape of loans for Specu-
lative purposes. The relapse of the mar
ket into increasing dullness and the
heavineSs shown today can probably be
adequately accounted for on these
grounds. There also were some factors
of positive effect toward depression
The re-opening of the Presidents wound
last night, while it occasioned no actual
uneasiness here. seems to have aectffed
sentiment in London and sales here for
London account had to be taken care Of
on a considerable scale for the first time
in many days. Last nights rumors of
steel strike settlement resulted in reac-
tion of the United States Steel stocks
and the annual report of the Republic
Iron and Steel Company did not make
an encouraging showing of conditions re-
sulting from the years business. The
Government crop report showed a poor
er condition of corn than anticipated
some spectators having looked for i'm
provement over the August condition
The effect of the Treasury's proposals
for relief of the money market was con-
fined to surmise. as no statement was
forthcoming as to the amount of bonds
offered or the price asked. There We're
significant advances in the bid prices of
Government bonds on call which carried
prices Of all the Government issues ex-
cept the short fours, IA to IL per cent
over the prices ruling before the Secre-
tarys offer. Expectation is not sanguine,
that bonds to the full amount of $4,000,
900 invited by the Secretary will be Of
fered before the limit of time expires
tomorrow afternoon, at prices which will
be accepted by the Secretary. Sterling
exchange also remained fairly steady in
spite of the buying of stocks here for
London account and a lowering of dis
count rates in London. Exchange on
Paris showed a yielding tendency.
Railroad bonds were dull and irregu-
lar Total sales (par value) s1,7S50 900.
United States 3's advanced 1-3, the
rs and SIS IA, and the new As l per
cent. on the last call.
The total sales of stocks today were
49S,900 shares, including the following:
Atchison $4,000; Baltimore and Ohio
$500; Chicago, Indianapolis and Louis
vile $500; G. c. G. and st. Louis 6,100;
Erie $4,000; Norfolk and Western 5,400;
Pennsylvania Railroad 1000; Phladel-
phia and Reading second preferred $500;
Chicago, Milwaukee and st. Paul 40, 900:
Southern Railway $500; Union Pacific
200; Amalgamated Copper So, 300:
Brooklyn Rapid Transit $500; Republic
Iron and Steel $780, Republic Iron and
Steel preferred 5000; United States Steel
Corporation $4,000; United States Steel
Corporation preferred 14S00