The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-07-24
STOCKS AND BONDS.

New York. July 23.-The stock market
today, and made various but quite
convincing show of strength, notwith-
standing the appearance of a reactionary
tendency in some of the stocks which
tempted to realizing by the high price
attained, and a few cases of positive
weakness. The volume of dealings was
again below million shares and the
bulk of the dealings was congested in
few very active stocks. 1t was obvious,
nevertheless, that the bull campaign
was still in force and that large and pow
erful capitalists were still committed to
the long side of the market. Not much
attention was paid to the news of the
day, which was somewhat meagre in it's
bearing upon values of securities. The
speculation shifted from one to another
quarter of the market in the usual pro-
gress of rotation by which skillful spec
ulative leaders kept the movement of
prices equaliZed from time to time and
without regard to news developments.
The weekly crop bulletin of the Wealth
er Bureau was interpreted fovorably on
the whole. Some harm was reported to
the various grain crops by too much rain
but reliefs from droughts are reported
for the cotton crop and the condition OF
the corn crop was considered highly sat
isfactory. The outcome of the corn crop
is the dominant feature in the specula-
tive situation and turned the scale of
sentiment in favor of the advance. Some
disappointment was felt over denials of
yesterdays rumors that anthracite min
ing would be resumed on ADJUST 1st and
the coalers and eastern railroads gener-
ally, with the exception of an early ad-
vance in New York Central. were al
most stationary. A feature Of the day
was the marking up of various dormant
stocks which have not shared in the re-
cent advance. This tendency extended
to Northern Securities Company on the
curb, which rose buoyantly to 10. Great
..orthern preferred advanced Az but
lost about half of it. These movements
were simultaneous with the publication
of an abstract of the indenture securing
the New Orleans short line collateral
bonds This showed that provision is
made that the Northern Securities stock
deposited as collateral for these bonds
shall be allowed to share in any re-or-
ganization project, or further union or
merger or sale and distribution of the
company's assets. The profit-taking on
Pennsylvania was somewhat aggravated
by the action of the New York Alder
men in rejecting the Pennsylvania tun-
mel contract. Brooklyn Transit was de-
cidedly weak owing to the belief that
the company's bid for construction OF
the East river tunnel will fail of ac-
ceptance. The expectation that yester-
days engagement of gold for export
would be cancelled was only partly re-
allied and there was further engage
ment by another firm of one million
dollars, thus bringing the export for the
week up to $2,750,OO0. Active profit
taking made the closing irregular and
the net changes mixed. The bond mar
ket was irregular. Total sales, par
value 81, SOS 900.
L. S. old As reg declined Il per cent
on the last call
Total sales of stocks today were 931.-
700 shares, including Atchisono 70, $50.
Atchison preferred 23,2OO, Baltimore and
Ohio 1900, C. and o. 1000, Chicago and
Alton $4,000. Rock Island $500, Colora-
do Southern $500, D. and Rio Grande
5'4OO, Great Northern preferred 5000, H.
linois Central 10000, Manhattan 1900,
Missouri Pacific $4,000, M. K. and T. 49,
700, M. K. and L. preferred II, 100, New
York Central $4,000, Norfolk and West
chm $500, Pennsylvania 3d. 400, Reading
1860, Reading second preferred 1920,
ST. Louis Southwestern So, 800, st. Paul
4S,50O, st. Paul preferred $500, Southern
Pacific 21,50O, Southern Railway 2320O,
Texas Pacific 5,100, Union Pacific IA
400, A. c. P. 22,6OO, Brooklyn Transit
1900, Peoples Gas $4,000, Sugar 44,700,
u. s. Steel $500.