The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-10
STOCKS AND BONDS.

New York, Jan. 9-Speculation came TO
a hating place today and showed much
hesitation about branching out into new
courses. The sharp upward movement
in the later part of yesterdays session
was evidently due to drive against the
shorts, which were put out in the course
of the speculative liquidation on previ-
Gus days. In the absence of important
new developments, the stock market fol-
lowed the usual course in the culmina-
ton of a speculative movement, the price
vibrations becoming less by degrees.
There were efforts, which persisteds du-
ring the greater part of the day to con-
test the dropping tendency of the mark
ct and to continue yesterdays recovery.
The marking UP of special stocks was
the device resorted to. 1t was not very
effective at any time, although there was
a rally one time, which generally wiped
out earlier losses In the late dealings,
however, when the futility of the efforts
of the bulls became apparent, tired
holders began to throw over stocks.
Prices went to the lowest point of the
day and generally closed there, st.
Paul was under severe pressure and lost
2as. Declines of between l and 2 points
stocks The principal stay of the market
during the time of resistance to the de-
cline was Manhattan This stock was
taken on ana enormous scale by brokers,
who have been active in it ever since the
present advance began. They made it
touch 1909, an extreme rise of 4h, after
which it reacted, closing with a net gain
of 2ss. The running of the first expert
-. 80
the company's lines waA the ostensible
cause of the stocks strength. Metropoli-
tan Street Railway and Brooklyn Transit,
the later in a small degree, were affected
in sympathy. There was a strong adj
vance of rs in Pittsbufg, Cincinnati,
Chicago and st. Louis on supposed pros
poets of larger dividends, and some of
the junior Vanderbilts were affected in
similar way. Sugar, after an early
decline, had it's period of strength under
operations by speculative combination,
based on expectation of remission OF
raw sugar duties The stock afterward
weakened to the lowest and closed at
net loss of two. The action of the
United States Steel stocks has proved a
great disappointment to a large element
among professional spectators, who
have been looking for sustained rise in
those stocks and an aggressive bull
leadership of the market. Both classes
of stock were sold today, both for home
and foreign accounts. The hostile steps
still in prospect against the Northern
Securities Company continued to form
repressive influence. The money mark
ct has lost it's stringent tone, but re-
newal Of supplies is by no means SO
abundant as expected.
Bonds were dull and irregular Total
sales par value $3.630.000.
United States refunding rs coupon adj
vanced "A per cent on the last call.
Total sales for the day were 695, 200
shares, including Atchison $4,000; Atchi-
son preferred $500; Erie 800; Manhat-
tan 127,40O; Metropolitan II 100; Reading
36,800; Missouri Pacific 1880; st. Louis
and San Francisco 500; st. Louis and
San Francisco, second preferred $500;
st. Paul 10000; Southern Pacific 15.400;
Union Pacific 95,100; Copper 41,600; Wa
bash 1900; Brooklyn Rapid Transit 1890;
Sugar 76,5O0 United States Steel $1,000:
United States Steel preferred 81 400.