The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-03-01
sTocRs AND BONDS.

New York, Feb. 2S.--After an unavail-
ing effort to check the yielding tendency
OF prices, the market gave UP to tie
threatening depression. and the closing
was decidedly weak at the lowest. with
something very like a spilling out of
stocks going OH all through the list. The
Steel stocks were most acutely affected
and We're weak throughout One or two
in the group advanced slight fractions
at one time under the process of arbi-
TRACE operations which involved pur-
chases to cover sales in other stocks, but
the prevailing disposition was clearly
TO sell. Dealings continued on the curb
in the contracts to deliver United States
Steel Corporation stocks when issued.
though not on as large scale as yes
to-day These stocks, which were re-
garded as the index of the value Of all
the members of the group showed an
increasingly heavy tone. Bids of 81 for
the common and 621a for the preferred
were put in at the opening by brokers
acting on behalf of the banking interest
concerned in the organization of the new
company There was sone frmness in
the common stock during the day, but
in the closing dealings the bid for the
common stock was reduced to SO and for
the preferred stock to so. The last prices
showed National Tube AZ lower than last
night, American Steel Hoop, American
Steel and Wire American Tin Plate and
American Steel and Wire. preferred, from
2 to ~ and others Of the group from a
fraction to nearly two points. The stocks
not included in the consolidation were
also weak, Tennessee Coal and Iron de-
Ginning nearly three points. Published
reports from Pittsburg of dissatisfaction
on the part of the National Tube stock
holders with the terms of the exchange
were an influence in the depression. The
relapse in American Sugar American
Tobacco and st. Paul. after a short lived
opening bulge, also served to discourage
the speculation. Efforts were made to
substitute other stocks for the purposes
of sustaining the market, but they were
Intellectual. They were most conspicuous
in the American Smelling and Refining
stocks. which rose 5B for the common
and rs fer the preferred. Anaconda
Mining with rise Of two and half
ard Anaigamatcd Copper with an advance
Of three points The American Linseed
stocks. the United States Rubber stocks
and international Power were UP from
enc and a half to three points st. Louis
and San Francisco rose three ana the
second rrefer red one and a half. The
in Copper as in the Steel
stool was without regard to the trade
news. rs also was the case with the rail-
read stocks The prices in number CT
the nest prominent stocks are point
cr mere lower en- the day The money
r,ari-et continued easy notwithstanding
thc large absorption BY the sub-Tre&slr3
ara ire demands for the month and set
dement's. 1t is not unlikely, however,
nat the money market possibilities are
an element in the caution manifest il
tie speculation A sharp rise in sterling
exchange in response to the harder money
market in London served to emphasize
this caution.
Bonds were relatively better sustained
,han stocks Total sales (par valued
100000.
United States refunding IS registered
advanced Il and the SIS 4 per cent on
the lest eell.
The total sales Of stock today were
SD 100 shares. including the following:
Atchfson, 10. 900 Atchison, preferred s.
700. BEIIlDRiDu. - SAiNoop, AAt''N''Aet
rolls and Louisville. 5000; Rock Island
COO; Erie 400: Erie, first preferred, TO-
200: Louisville and Nashville, 1900; Mis-
souri. Kansas and Texas, preferred. ~
500; Northern Pacific 5000; Pennsylva.
MIA. 9,4o0: Reading, first preferred, FOG
St Louis and San Francisco, l3,oooi u
Louis and San Francisco, second prefefrea
$500 St. Louis and Southwestern, 9'2co
st. Louis and Southwestern, preferred
1000: ST. Paul, 81. 200; Southern Pacific
Is 400 Southern Railway, 1900; South
crn Railway pcrferrcd, 5000 Inlol
Pacific. $1,000; Amalgamated Copper. Al,
!; 500; American Smelling and Refining ~,
| 500; American Smelling and Refining, =,
! 100; American Steel Hoop 100000; Amerl
/ can Steel and Wire. 1890; American To
bacco 40 4e0; Anaconda Mining. 400
Brooklyn Rapid Transit $500; Cont
mental Tobacco. 14,100, Federal Steel s.