The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-12
STOCKS AND BONDS.

New York, Feb. l1.--Todays stock
market showed a further expansion in
the dealings and the great irregularity
OF the market continued. The selling side
was rather better represented than yes.
tcrday. but many important stocks took
IN the advance at new points. The dis
position to take profits was very natural
on the eve of a holiday There was OBJ
viousiy some misgiving, also, among
speculative buyers lest the expectation
of coming deals would not be realized.
This was especially the case among the
&c: al traction stocks, where the glamor
OF the coming announcement of the Met
ropolitan Street Railway deal has SUI
fered some decline. The anxiety on the
subject was keener as no announcement
OF the plan is possible until after the
holiday. Recent sanguine expectations
OF benefits TO accrue to the express com.
panies from some sort of consolidation
suffered some eclipse as shown by the
sharp drop of 71a In United States Ex-
PRESS, all the stock finally rallied AZ
American EXPRESS, after rising near FIVE
points. lost it again. The speculative
assumption that last weeks huge loan
expansion represented syndicate prepare
tions for deals was subjected to careful
scrutiny and the opinion developed that
financial operations already known might
ahundantly account for the increase in
credits.
There were. however, significant points
of strength in the market. The steel
stocks were all very heavily bought on
encouraging trade prospects, but the Uni
ted States Steel stocks met enormous Of
ferings at every slight advance. The
late movement in Pennsylvania was re-
garded as an alternating movement with
that in Southern Pacific and due to oper-
ations by the same interest. Texas and
Pacific was advanced on the strength OF
the increase in the yearly disbursement
oil. the company's second incomes. There
was large. buying OF Southern Railway
and L. and ~ and of number Of stocks
of comparatively small capitalization
which was not explained. The buying of
the Readings continued very large. but
they showed the effect OF profit taking
The indnstrials as rule outside of the
Steel stocks and some OF the gas stocks
were inclined to heaviness. Amalgama-
ted Copper showed good recovery but
closed with a small net loss. The closing
Business in bonds continued large and
the price movement Irregular Sales (par
value) $4,640,O 900.
United States new rs advanced is
FER cent on the last CALL
Total sales for the day were $40. 900
shares including:
Atchison 1900; Atehson preferred s.
600; B. and o., 600; Colorado Southern
10000; Erie 23.500 Iowa Central $500:
l.. and N. 7100; Manhattan Is 400; Met
ropolitan 1900; New York Central g.
100; Pennsylvania Sc 100; Reading $4,000;
Beading first preferred $500; Reading
second preferred 1116O0; St. Paul l9.20O;
Southern Pacific 1900: Southern Rail-
way 35.100; Southern Railway $500: T.
and p, 5000 Toledo, st. Louis and Wes-
tern preferred 5000; Union Pacific $4,000;
Wabash 5000; Wabash preferred 14,500;
Amalgamated Copper 45,3OO; Brooklyn
q 100; Consolidated Gas $4,000; Peoples
Gas 500; Sugar $4,000; Tennessee Coal
and iron 25,7O0: United States Steel A.
700; United States Steel preferred $4,000