The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-03-14
STOCKS AND BONDS.

market was again an affair OF special
ties and the movement in the active
leaders Of the market was exceedingly
confused and irregular and presented
many direct reversals Of the recently
prevailing movement in special stocks.
The stocks of the LARGELY capitalized
railroad systems of the country, which
assume the leadership of the market in
times of great general speculation were
neglected and almost immoVablc. In
such stocks as Union Pacific, Southern
Pacific, Atchison, st. Paul and Missouri
Pacific, as we'll as many other usually
active stocks. the outside range for the
day did not cover more than half
point and in some only a quarter. Yet
the large dealings in some of the largely
capitalized industrials and in railroad
Sspecialties of small capitalization there
was sufficient, activity to give the mar
ket some appearance of animation.
Amalgamated Copper continued the most
active stock in the market and the acute
weakness of yesterday was overcome by
vigorous support. After ruling frac-
ton below last night during the carly
part of the day, it rose above in the af-
ternoon and finished with a net gain of a
point Sugar took Amalgamated Cop
pers place in the column and suffered an
extreme decline of nearly points but
recovered all but fraction of ii. The
varying opinions ON the chances of Gu
ban sugar for a tariff concession were
the speculative material in this stock.
Manhattan was very active and adj
vanced strongly. An uncovered short
interest was reported to be a factor in
this advance, but reports We're circu-
lated of large earnings. Other strong
points were North American, the Inter
national Silver stocks and a number of
miner specialties without any expla1 a.
ton. Strength in the soft coalers was
due to the belief that agreements had
been reached with the miners. The an
thracite roads, or the other hand. re-
fiected a recurrence of uneasiness over
the labor question, due to reports of a
threatened strike in the Lackawanna
company's mines. Reports of labor con-
troversies in various parts OF the coun
try were discussed with interest and
were somewhat depressing factor gen.
orally. The anthracite roads in conse-
quence were interrupted in their adj
Yancing tendency of yesterday. The rise
in st. Louis Southwestern preferred was
due to the announced success of the
plan for the conversion of the COM
pany's second income bond. Trade re-
ports from the iron and steel industry
were responsible for the advance in the
stocks of companies in that trade, in
which the United States Steel stocks
participated only moderately, owing to
the discussion of the proposition for a
bond issue for retirement of part of the
preferred stock and for acquiring addi
tional properties. While special stocks
were advancing, others were affected by
profit taking sales, after having enjoyed
recent substantial advances. Call money
went 20 four per cent again today. but
the unruffied calmness of the market
indicates some hidden process of relief
going on against the depletion of re-
serves.
Bonds were irregular. Total sales ar
value SO, 340. 900.
U. s. ne WAS registered declined *
and the old As Il per cent on the last
call.
Total sales for the day were $4,000
shares, including Colorado Southern A.
$780, Erie $500. Manhattan $4,000, Next
can Central 1890. Mexican National
1900, Pennsylvania 10000. Reading 25.-
600, Reading second preferred 1G,400, st.
Paul $500, Union Pacific 7,400, Wheeling
and Lake Erie $500, Wisconsin Central
G, 200. Amalgamated Copper $500, AM
erican Car and Foundry 6.400, brooklyn
Rapid Transit 1890, North American
1860, Sugar $1,000, Tennessee Coal and
Iron 5000 u 6. Steel II 100 II. 6 Steel
preferred 23100.