The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-30
STOCKS AND BONDS.

considerable strength and variety but
the dealings were still evidently in
large part professional and the points
of strength We're somewhat scattered.
lit was noticeable, also that profit taking
was going on in stocks, which have
recently advanced under cover of the
new points of strength. Thus, while
Atchison Pennsylvania, Southern Pa
cific and the Southern Railway stocks
were moving upward today, the To-
bacco stocks LackaWanna, the Wabash
stocks, Erie and American Car were
held back, although much less active
than during the time of their recenl
advance The strength shown during
the day seemed to be largely due to
special causes, but the favorable prog
ress made in the London Stock FIX
change settlement and the hope that
its completion will clear the way for
growth of confidence was a favorlng
factor. Something was made of the alb
sence of Northern Pacific stock from
the list of collateral for the new Union
Pacific convertible bonds, as indicating
a prospect of a settlement of the North
ern Pacific dispute This bond issue is
supposed to provide means to pay for
the Northern Pacific stock bought as
well as for the Southern Pacific which
is included in the collateral. A clause
in the mortgage leaves the power un-
impaired to use the proceeds of the
mortgage for the Northern Pacific pur-
chases. Union Pacific stock did not
move decisively. although it recovered
well from a period of weakness without
holding the entire recovery. April net
earnings We're an element in the
strength of a number of railroad stocks
and We're supplemented by other expla-
nations, possibly to further a specula-
tive movement Atchisons statement
published previously was continuing
influence The advance in Pennsylvall-
ia was made to appear in sympathy
with a revival of the old rumors of a
union in retaliation for the project of
Wabash trunk line outlet. The halt in
the upward movement of Wabash and
Lackawanna may have been significant
in the same connection. Southern Pa
cific presented q very strong statement
of net earnings and Southern Railway,
Union Pacific and st. Louis and Saa
Francisco also made good showings fol
April. There were besides rumors that
announcement would soon be made or
large Pennsylvania holdings in South
ern Railway and that the Chicago, In
dianapolis. and Louisville has passed to
the control of the Southern Railway.
Reports were current that Union Pa
cific was extending it's holdings CT
Southern Pacific so as to secure abso-
lutte control The extra dividend on
Minneapolis and St. Louis accounts Tor
the strength of that stock. Pacific
Nails rise was in sympathy with
Southern Pacific. The rise in Denver
and Rio Grande was unexplained. The
unfavorably features of the Govern
ments weekly crop report and the un-
expectedly large gold experts were ig
nored. Gold engagements ran UP at
one time to $4,650,000 They were later
reduced to $3,950,000 to comply with in
surance requirements. In view Of the
growing ease of the London money
market and the rise in sterling ex
change at Paris, the amount of the
shipment is a surprise and can hardly
be explained as a triangular operation,
that is from New York to Paris on ac-
count of London. There was practically
no effect produced by the shipment,
either on the money market which con-
tinued easy, or the exchange market
which continued firm. The transaction.
calls renewed attention to the fact re-
Gently disclosed that New York borrow
ed in Paris quite extensively at the
time preparations were making by the
various banking syndicates for the Sc
ries of great consultations which In
augurated the boom in the stock mar
ket. The present movement of gold
may very probably be in liquidation of
obligations incurred at that time.
There was some irregularity in the
bond market on a fair volume of deal
ings Total sales (par value) $2,775,000.
United States bonds We're all un
changed on the last call.
The total sales of stocks today were
$50, 900 shares, including the following:
Atchison 81, 800; Atchison preferred &c.
500; Chicago, indianapolis and Louis
vile 1880; Delaware, Lackawanna and
Western $500; Denver and Rio Grandt
$500; Erie 29,100; Iowa Central $500;
Louisville and Nashville 1900; Manhat
tan Elevated 9,100; Minneapolis and st.
Louis 1000: Missouri Pacific $500; New
York Central 5000; New York, Ontario
and Western 1880; Pennsylvania Rail-
road 34,100; Philadelphia and Reading
IL, 600 Chicago, Milwaukee and St Paul
IA 300; Southern Pacific 1900; South
eIn Railway 4S,200; Southern Railway
preferred 1900 Union Pacific $4,000;
Wabash q, 400; Wabash preferred 90
400; Analgamated Copper 4,400; Amer
lean Car and Foundry 5000; American
Tobacco &c, 100: Brooklyn Rapid Transit
5000; Consolidated Gas 6,100; Continen-
tai Tobacco. 1890; Peoples Gas Ligh.
and Coke Company 9,400 American SUI
gar Refining 9,400; United States Steel
Corporation 81 800; United States Cor
poration preferred $4,000
BONDS.
us Ref. 2'sreg.. 1861 N. Y. C. 1sts.....10S
S. s Ref. 2's cou 1867 N. J. c. gen. 5's.132
q. s. rs reg. -. No. Pac 3's.... M
q S.3'sreg ;. 100 4s."........10s
coup ......"109 N.Y.C.&St LAS 1O7
&. s. new as reg 1897 N. &. W.con. 4s,to11s
coup -. ..138h Ore. Nav. lists. 100
q. S. old as leg.113h as .........1 o4K
coup ......113h Ore. S. l.. 6's....127A
u. S. SIS reg. ...,1O8A " con. 5'..s..,.116H
coup. 49,. -. 1881 Reading gen. as 961s
Dist. Col 65's125 RioG. West 1sts.1GOA
Atch,sn Gen. 5's1o3A StL&I Neon 5's115h
Z" adj 4s..... 95 StL&S Fgen6's134
Can So ends 1919 / st. Paul con. 1888
G. q O. 4H's1O6X St p. G.. & p 1919