The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-18
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a show of strength, but the dealings did
not rise much over half a million shares
and We're largely congested in the few
stocks which We're favorites in specula-
ton. Professional manipulation had not
a little to do with the advance in prices
at some points and the movement wa )
clearly directed against the short interest
which had been accommodating during
the downward course of prices this week.
The recovery from recent illness of i
leading operator, who is commonly
credited with the leadership of the pro-
/, tective forces of the market on the pun
side, was believed to explain an import
ant part of todays transactions. The
factors which accounted for the rise
were partly in the shape of vague init
nations and general assertions rather
than of explicit information. Thus,
statements circulated as to the phenome-
nal earnings of the anthracite carriers.
which were asserted to reach Is TO 20
per cent. for the leading high priced
stocks in the group, especially the Read
ings There We're resulting advances IN
Lackawanna of IL points New Jersey
Central ex-dividend IA, Reading 5-S
and other members of the group to
points. The movement was extended Ill
some measure by sympathy 10 some of
the soft coalers. There were continued
strength in the Southwestern railroads
as a group at advances of | 70 points.
This might be accounted for by reports
of much needed rains in Texas The in
dustrials as group came forward into
rather greater prominence than of late.
Such conspicuous stocks as sugar, Anal!
gamated Copper. General Electric and
the local fractions showed gains of l u
points American Tobacco gained
another 50 points today, selling at 235
with{a later bid at 24,. This stock is
exchangeable at par for 200 of CONSOLE
dated Tobacco As. There is said TO be
less than 5 per cent Of the stock out
standing. Very glowing accounts We're
put out of the rate of expansion of he
tobacco business. American Tobacco
preferred gained 6 and the Consolidated
Company bonds We're strong and act
i've. Late in the day ST. Paul was bid
up quickly nearly two points and ether
grangers and Pacifics hardened in SYM
pathy This late movement. was the Ell
fective factor in keepinS the closing
firm, as a wavering tendency had de-
veloped before St. Paul.; rise. The bulls
had in their favor the prospect of
strong bank return tomorrow.
The railroad bond market was active
and strong, mortgages of railroads in the
, southwest being in particular favor
Total sales (par valued S4075,G0o.
United States bonds We're all unchong-
ed on the last call.
Total sales of stocks for the day were
$4,000 shares, including Atchison IL, 400;
Chicago Indianapolis and Louisville
5000; Erie, $4,000; Manhattan, $500; Mis-
souri, Pacific $500: New York Central.
100; Pennsylvania, 17,100; Reading, l0e,-
zoe; do preferred, "a 900: st. Louis and
San Francisco, 1900: do second pre-
ferred, 12,900; St. Louis southwestern
preferred, $500 St. Paul 34,50O; South
ern Pacific, 49, 100; Union Pacific, u 100;
Copper, $4,000; b. r. T., $500: Sugar
81, 500; Steel, 1900: do preferred 49,
400: Locomotive, $500.