The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-14
STOCKS AND BONDS

market was similar In character TO that
of Tuesday, but showed an increased
disposition to realize profits where con-
siderable advances had occurred. The
buying and bidding up of other stocks
TO make fresh points of strength to COW
err the realizing was in evidence. but
rather less effective, and was less per-
sistently maintained, the gains being
largely wiped out in the late reaction.
The local traction stocks We're under
decided pressure and Notwithstanding
the support accorded to them, they ex-
ercised depressing influence on the
rest Of the market. The same was true
of Amalgamated Copper, which sagged
away under constant offerings, without
much evidence Of support, closing ut a
net loss OF two and g. half points. There
was no news to account for the weak
negs. The depression of the local trac-
items was of course due to the PROPOSE
tlon Of the Brooklyn Transit directors to
issue bonds to the extent OF $150000, 900.
The argument that this abundant capt.
tai would check the diversion OF current
earnings into the bettermentS and eX-
tensions and would thus hasten the Pc
riod Of dividend disbursements appar-
emily failed to reassure speculative SEN
timent, and the open buying of the
stocks by inside interests was equally
unavailing. The news of the proposed
bond issue also upset calculations Of a
coming merger of all the Greater New
York transit facilities, which has been
an instrument in the hands of the specu-
lators for some time past. The failure OF
the announcement of the details of the
metropolitan Street Railways new
financial plan, which was expected to-
day. added to the feeling of doubt and
distrrst, although that stock itself was
best supported of the group. There
was no apparent cause for the reaction
in prices in the news of the day outside
of this, beyond the natural disposition
to sell at profit that had been bought
at lower prices. Reports of renewed
rate cutting among the far western rail-
roads may have emphasized the desire
to sell their stocks. The reports receiv-
ed of gross earnings for the first week
in February also showed q rather preva-
lent tendency to decreases compared
with last year. This was notably true
Of the Southwestern railroads, but there
was marked strength in that group led
by Texas and Pacific with a rise of two
and a half points on intimations OF
very large earnings. There were I'M
usually large dealings in the Colorado
and Southern stocks. which were sup
posed TO be due to expectations of In
creased dividend disbursements. They
continued easy and did not enter into
consideration. The Steel stocks showed
Some early response to the very favor
allie conditions reported in the trade
but relapsed with the rest of the mar
ket. The market closed slightly tr-
regular, but generally easy.
There was very large business done
in bonds. but the movement Of prices
was irregular. Total sales (par valued
$4,000.
United States bonds were all un-
changed on the last call.
The total sales of stocks today were
SS2, 400 shares, including the following:
Chicago and Great Western 5000; Atchi-
son ii, 700 Colorado Southern $500; Col
orado Southern first preferred 5000;
Colorado Southern second preferred 49,
200; Erie 1920: Iowa Central 1900;
Louisville and Nashville $500; Manhat
an Elevated 29,SO0: Metropolitan Street
Railway 12,700; Missouri Pacific 1890:
Missouri, Kansas and Texas 5000; Mis-
souri, Kansas and Texas preferred $500;
Norfolk and Western $500; Pennsyi-
vania Railroad 14,5O0; Philadelphia and
Reading 10000; Philadelphia and Read
ing first preferred 5000; Philadelphia
aud Reading second preferred 5000; st.
Louis and Southwestern preferred $500;
Chicago Milwaukee and ST. Paul 25,4OO;
Southern Pacific $3.50; Southern Rail
way % 500; Southern Railway preferred
IL 900; Texas and Pacific 26,1Oo; Union
Pacific IS, 200; Aalgamated Copper 81
1885,; Brooklyn Rapid Transit $1,000;
Consolidated Gas 9,700: American Sugar
Refining 1880; Tennessee Coal and
iron 1890; United States Steel 2740O;
United States Steel preferred 52,2lO;
American Smelling and Refining 1900.
BONDS