The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-21
STOCKS AND BONDS.


STOCKS AND BONDS.
New York, Feb. 20.-The announce
ment by the Attorney General OF the
United States that he believed the
the Anti-Trus Law and that he would
file a bill in equity in the Supreme
Court, in accordance with instructions
from the President, to test the question
Iovershadowed all other considerations IN
the stock market today. The acute IN
Iterest manifested In this company by all
spectators and, indeed, all holders of
securities was wildly demonstrated by
the effect In the stock market and was
the more notable since Great Northern
preferred is the only stock remaining
listed on the exchange which is directly
included in the Securities Company.
Yet the whole market fell away sharply
under heavy liquidation, with only few
unimportant exceptions. The stocks OF
tie trans continental companies were
naturally most affected, as the forma-
ton Of the Northern Securities Com
pany represented an effort to harmonic
conflicting interests in the field. Great
Northern preferred lost 81, Northwest
orn tx, Rock Island SIS, st. Paul 37s.
Union Pacific ga. and Southern Pacific
2A. Elsewhere in the list losses gener-
ally ran from l to points and consid~.
erably over that in many exceptional
cases. On the curb Northern Securities,
when issued, dropped over points. The
direct concern of such a variously as
sorted lot of securities in the welfare of
the Northern Securities Company Is not
very obvious. but the average Spectator
in stocks, and especially the professional
trader, Is deeply imbued with the con-
viction that all his woes are the out
growth of the conflict for Northern Pa
cifc control last year and that it is only
necessary for the readjustment to he
made of the situation precipitated at
that time for the stock market to re-
sumo all the buoyancy and speculative
Juror that was interrupted by the May
panic. For some time there has been a
deep-rooted conviction amongst the
Spectators that the Supreme Court was
to throw out of court Minnesota's suit
against the legality of the Northern Sc
curities Company. This mornings an
nouncement from Washington was
rude shock to the optimistic sentiment
that has been carefully nurtured In the
financial district. The selling movement
swelled the dimensions of the trading
during the first hour to volume equal
to g. full days business during the &c
cent past. Prices declined sharply and
the market looked semi demoralized.
Wherever prices had been moved up
recently On the presumption that plans
were IN prospect for combinations or
existing properties along the lines Of
the Northern Securities Company the
effect was especially marked, as In some
of the coalers and the Gould Southwest
|erns. The early excitement was sue
|ceeded by comparative quiet. Liquida-
tion proceeded but in a more orderly
manner. Buying for support occasion
ally rallied the market but it was dis
continued at .recoveries and the sagging
tendency revived. This course was con-
tinued up to the close, which was active
and easy but not at the lowest for any
important stock.
There was enormous selling OF some
LOT the speculative bonds, especially the
Wabash debentures BIS, Baltimore and
Ohio convertibles, Union Pacific con-
which fell from to points at one time.
In the general bond list there was no
pressure of liquidation, although slight
declines We're the rule. Total sales, par
value, $5,72O,0O0.
United States SIS advanced II. the re-
funding 2s 81, the 3's u and the old As
Is per cent on the last call.
Total sales for the day were 1888, 500
shares, including Atchison 2,400, At
Gibson preferred 1900, Baltimore and
Ohio 1890, Chicago and Alton 34,7o9,
Chicago, Indiana and St. Louis 1850,
Colorado Southern 10000, Erie $4,000.
Louisville and Nashville 10000, Manhat-
tan &c, 800, Metropolitan $500, Missouri
Pacific 22.SoO, Ontario and Western $500.
Pennsylvania 27.600, Reading $1,000,
Reading first preferred 1890, Reading
second preferred 46, 400, st. Paul $4,000.
Southern Pacific 10000. Southern Rail-
way 14,700, Southern Railway preferred
$500, Texas and Pacific $500, Union Ia
cific $3.50, Amalgamated Copper 81, 100,
Brooklyn Transit 7,400, Consolidated Gas
5000, Sugar SO 100, Tennessee Coal and
Iron AZ $780, U. S. Steel 33, 100, u. S. Steel
preferred 38,700
STOCKS.