The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-30
STOCKS AND BONDS.

New York. April 29.-The movement of
prices was confused and irregular all of
today. and there was evidence of di-
minishing speculative interest. The wide
movements in high priced stocks contin-
ued q factor. but the influence of the
advances was impaired by some equally
notable relapses in stocks, where at
tempts were made to take profits. A
case in point was that of New~ York,
New Haven and Hartford, which fell
violently 8 points on an attempt to
market a small amount of the stock be-
cause of the emphatic disclaimers from
both Pennsylvania and New York Cen
trail authorities of the rumors of pur-
chase of control. There was late
rally of several points in the stock.
New York Central and Pennsylvania also
and strength In fact there was very
little show of strength throughout the
eastern railroad field. The session of
the joint committee of operators and
miners to discuss disputed points in the
anthracite field was a repressive in
fuence on all coalers. The decrease re-
ported in Reading surplus earnings for
March was an unfavorable influence.
of the Southern Railway for March was
certainly not a stimulating influence, al
though it was accounted for largely by
the notable increase in operating ex-
penses The Western railroads on the
other hand were benefited by the crop
news and by the weekly crop bulletin
of the Weather Bureau, which was con-
sidered very favorable, not only regard
ing the condition of winter wheat, but
as to the progress made in seeding corn
and spring wheat. The grain carrying
railroads were also helped by the spe-
cial strength of the Northwestern stocks,
which rose 1912 and 81 respectfully.
Rock Island gained an extreme SIS, but
lost over 2 of it. The strength of the
Wabash stocks and of the Wheeling and
Lake Erie stocks was evidently due to
the apparent certainty that the bid of
the syndicate representing the Gould in
terest for the Western Maryland will be
accepted. The industrials were marked
by quite as great irregularity as the
railroads and changes there were con-
slant and variable. A further advance
in the foreign exchange market and
crop in the rate of sterling at Paris,
both contributed to narrow the margin
still remaining from the gold export
point. The money market, however, was
still undisturbed. Much attention was
at tracted by action of the clearing house
authorities requiring that institutions
which shall be admitted hereafter, to
the privilege of clearing through mem
bers must first be established for a year,
and must maintain in their own vaults
the same percentage of cash reserves
as required of the members themselves.
They were required also to furnish
weekly statements of averages for pub
LEGATION This action is calculated to
put a restraint upon the multiplication
of trust company. 1t is carefully eX-
of trust companies. 1t is carefully ex-
retroactive, which is to say that they
| do not al all apply to the condition of
| the trust companies which at present
enjoy the privilege of the clearing house,
although that condition has been the
subject lately of much comment and
| criticism, owing to the freedom of the
| trust companies from any requirement
of publicity as to their loans and re-
| serves.
The bond market maintained firm
tone today. Total sales par value $S,77o,-
| 600. United States bonds were all UNI
changed on the last call.
| Total sales of stocks today were $685.
| 500 shares, including Atchison 1880
| Atchison, preferred, 1900; Canadian Pa
cific 12,400; Canadian Southern $500;
Chicago, Indianapolis and Louisville
| $500; C. e G. W. 1900; C. & N. w 5000
Chicago Rock Island and Pacific $500
| Erie 5,400; Illinois Central 20,500; Man
| haitian 1900; Missouri Pacific II, 800; NJ
X. e r., preferred, 27,400; New York
| Central II 100; Norfolk and Western
! 1000; o. & W. $500; Pennsylvania 14,020;
Reading $4,000 Reading, second prefer
red Is. 500; ST. Paul $4,000; Southern Pa
cific 200; Southern Railway 13,600
Union Pacific 1880; Wabash 10000
Wabash, preferred. "a 100; Wheeling and
Lake Erie II 600; Wheeling and Lake
Erie, second preferred, $500; Wisconsin
Central $500. Amalgamated Copper
1900; American Car and Foundry $500;