The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-05-11
STOCKS AND BONDS.

in Wall Street today and there was a
natural rebound in prices. That is 70
say, the fact of the rebound was very
natural after the extent of the declines
of yesterday but the range Of the re-
.covery was surprising. Large progress
was made toward wiping out the net
losses which remained last night after
the recovery had already set in on the
exchange. In a number of stocks which
were not actually affected yesterday
today's price rose above Wednesdays
closing level and in Missouri Pacific
yesterdays net loss was recovered with
three points to spare, the extreme ad-
vance reaching Is points. There was a
good deal OF trepidation still evident
this morning, owing to the vague dread
that there might be stock exchange
houses which would be unable to meet
their obligation after yesterdays dras-
tic experience. The market was there
fore unsettled and feverish, even after
the strong opening. but when the Of
fetal announcement was made that
the clearing sheets of all the members
of the stock exchange had gone through
the stock exchange clearing houses
perfectly. and that all their checks haa
been honored, feeling of relief was
manifested and steadily grew through.
out the day. During the latter par
OF the day there was resumption Of
ment for the rise led by Union Pacific
The buoyancy of this stock and the
accompanying strength of the South
westerns was based upon rumors ana
assumptions of the benefits to accrue
fn Into oh In
troll OF Northern Pacific, which was
still stoutly claimed by the Union Pa
cifc party. Undoubtedly there were
very many speculative losers of great
resources in the collapse of Thursday
who retained their nerve and deter
mination and who set about to recoup
themselves by new speculation in the
market. Other buyers were those who
had gotten out early in yesterdays
slump, and who still saw profit in get
ting back at the prices ruling today.
Bargain hunters We're also on hand il,
considerable force and there were many
large transactions in both bonds and
stocks, representing their purchases.
This outcome of affairs was assured
when the news was learned this morn
ing of the settlement with the shorts
in Northern Pacific on the basis of $50
per share. This removed the overshad-
owing fear from the market and tie
quotations for Northern Pacific on the
tape at $50 still further ailayed the APP
prehension. The stock sold at 200 fer
cash afterwards, but the progress Of
the settlement with the shorts at the
offices of the conflicting interests in
Northern Pacific prevented any further
disturbance on that ground. The meas
ure taken by the banks which placed
heavy loans in the market yesterday
and their decision not to call the loans
today completed the tranquilizing in
fiuences. The market closed strong 1T
the top with a feeling Of relief over
tomorrow's holiday. The gain extended
in Union Pacific to %, st. Paul and
Lackawana 1719 Consolidated Gas &c,
Burlington and Amalgamated Copper
121a International Paper 111h, Balti-
more and Ohio II, st. Louis and South
western preferred 10 IA, Sugar, Della
ware and Hudson and General Electric
10, and representatives OF practically all
the important groups from 5 to 10.
Bonds which We're weakest yesterday,
showed some wide recoveries, but Others
were weak. Total sales (rar yalue) So
$50 900.
United States new As declined u per
cent on the last call.
The total sales of stocks today were
1,SGS,400 shares, including the following:
Atchison, 1,500; Atchison preferred, So
800; Baltimore and Ohio, g. 100; Canadian
Pacific, $500; Chesapeake and Ohio, &c.
600; Chicago, Burlington and Quincy, 3D.
GOO; Chicago, Indianapolis and Louisville,
$500; Chicago, Rock Island and Pacific,
1900; Colorado Southern, 1900; Della
ware and Hudson, 7600 Erie, $4,000; Erie
first preferred 1880; Great Northern
preferred, 6,400; Illinois Central, 5000;
Iowa Central preferred zoo; Louisville and
Nashville, "a, 500 Manhattan Elevated,
~ 400; Metropolitan Street Railway, A.
6O0; Mexican Central 5000; Missouri Pa
cific, $4,000; Missouri Kansas and Texas,
1900; Missouri, Kansas and Texas pre-
fefred 10000; New York Central, %, 800;
Norfolk and Western, 5000; Northern
Pacific preferred (ex-dividend), $500; New
York, Ontario and Western, q 100; Penn
sylvania Railroad 1880; Philadelphia
and Reading, $4,000; Philadelphia and
Reading first preferred, 1900; Philadel-
phia and Reading second preferred, H.
500; st. Louis and San Francisco, 6,400;
Chicago, Milwaukee and st. Paul. $500;
Southern Pacific, 81 800; Southern Rail-
way, 31,7G0 Southern Railway preferred,
II 500; Texas and Pacific II, 200; Union
Pacific, 904 400; Union Pacific preferred,
II COO; Wabash preferred, 14900; Anal
gamated Copper, "a 200; American Car
and Foundry, $500; American Linseed
Coil, 10,500; American Tobacco, $1,000;
Anaconda Mining Company, 7,100; Brook
Ign Rapid Transit, q, 100 Continental To-
bacco, a. REQ; Peoples Gas Light and
Coke Company (ex-diyidend), 3,4G0;
American Sugar Refining, 55,4O0; Tennes-
see Coal and Iron, 1900: United States
Leather, 1900; United States Steel, 252,-
500; United States Steel Corporation pre-
ferred, ITO, 200; Western Union, $1,000;
Chicago Terminal and Transportation,
S5 zoo Chicago, Terminal and Trans
portation preferred, 1920; Chicago and
Alton, $500; Consolidated Gas, 1890.
BONDS.
Us Ref. 2'sreg..1O6 N. Y. c. lists. 1072s
S. S. Ref. rs cou 100 N. J. G. gen. 5's..130
U. S. rs reg..... No. Pac 3's..... u
Z. S.3'sreg -. 100 '4's...........105
coup ....109A N.Y.C&StL4's 1868
u. S. new 4'sreg 1877 N, &. W.con. 4s,1oo
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