The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-07-19
STOCKS AND BONDS

STOCKS AND BONDS.
New York, July. 1S.-Today was another
animated day in the stock market, with
aggregate sales of over million shares.
The strength and variety of the market
had no new development to account for
Them, but the large capital, which has
embarked upon the project of putting up
prices and inviting an outside following
PURSUED their operations with apparently
undated confidence. These operators
are apparently firm in the conviction that
the public sentiment of the country has
arrived at that stage of confidence in
the success of the years crops, the con-
tnued prosperity of all lines of indus
try and the sufficiency of the money re-
sources of the country, that the example
of a vigorous upward movement of stocks
is all that is needed to induce them to
come into the market and buy stocks
freely and boldly, thus affording a
medium for the liquidation of the hold
ings which the capitalists are taking in
the rise. The leaders of today's market
were Pennsylvania and affiliated rail-
roads. Southern Railway was brought
into the movement in a way to make 1t
appear that closer relations than those
now existing might be in prospect be-
tween the two properties. The apparent
determination of the coal miners con-
yention not to make their strike general
was reason for the aggressive buying
of Pennsylvania and all the seaboard
soft coal carriers, and there was in adj
dition a very circumstantial assertion
that Pennsylvania had secured control
OF Reading. 1t is no new thing in Wall
Street, that with the approaching disso
luton of the voting trust now in control
| OF Reading, there was a. large absorp-
| ton of the stock with a view to con-
trolling the board of directors and it
| has often been asserted that Pennsyl-
vania was one of the parties to this con-
| test No authoritative information on
| the subject was forthcoming today. The
accompanying advance of New York
| Central was held to signify an ac
quicscence in the new control or the
part of the Vanderbilt interests. The
| banks have apparently gained cash this
week to the extent of over $4,000, 000 of
which $1,662 900 was on sub-treasury
operations and the rest by direct receipts
| by express from the interior, showing
| the temporary nature of last weeks I'M
seasonable demand from the interior,
| New York exchange at Chicago rose to
| a premium of 10 cents. The Changers
did not share fully in the days strength
| but they were by no means depressed, in
spite of the unwelcOme rains in the crop
| regions, and one or two unfavorable
weekly reports of earnings, including
decrease of $4,000 for Missouri Pacific,
$17 900 for Chicago Great Western, $25-
600 for Denver and Rio Grande, and $93-
900 for C. e O., compared with last years
similar Lcriod. The market closed firm
but below the best except in a few
cases. The speculative bonds were ac-
tive but the general bond market was
steady. Total sales par value $3,626, 600.
United States bonds were unchanged
on call.
Total sales today were loss 900 shares,
including the following: Atchison 81 900;
Atchison, preferred 5000; Baltimore and
Ohio 20, 400; c. & o. 103 900; Chicago and
Alton 1000; Chicago Great Western 500;
Colorado Southern 5000; Erie 1900;
Hooking Valley 1900; Louisville and
Nashville 1900; Manhattan 2S,200;
Metropolitan 100; Mexican Central /, 200;
New York Central %, 300; Norfolk and
Western 44,40O; o. G w. $500; Pennsyl-
vania $780, Reading q 800; Reading,
second preferred, 5000; St. Paul II 800
Southern Pacific $500; Southern Rail-
road 204,6O0; Texas Pacific 10, 800; Union
Pacific 37,400; w. L. E. $500; Amalga-
mated $4,000; Brooklyn Rapid Transit
$500; Sugar $4,000; United States Leath.
err 10000; United States Steel 1922
United States Steel, preferred, $500.