The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-26
STOCKS AND BONDS.

9lO1A0 ANIL DO.NDo.
New York, Feb. 25.-Today's stock mar
ket was again largely devoted to obscure
specialties, both in the railroad and in
dustrial list, Most of these showed ad-
sances and the entire lack of explana-
tion of the movements pointed to manlpu-
lation by speculative pools. Some of those
which advanced hereto fore were under
going a process of profit taking and the
relapses thus caused were some times ex-
ceedingly sharp. Thus an advance of pa.
in St. Joseph and Grand Island was abb
ruptly wiped out by two or three sales
at the last which carried the stock a
fraction below last night and the first
preferred after rising "a, relapsed 3%. A
similar abrupt dip was made last night
by Chicago Indianapolis and Louisville
and that stock moved up this morning
q but lost all OF 1t. The minor stocks
which were strong today included the Du-
lutb, South Shore and Atlantic stocks, the
Ann Arbor stocks, Fort Worth and Dem
yer City stamped, the Chicago Terminal
stocks, Chicago Great Western. Kansas
City Southern preferred, the American
Linseed stocks, Glucose, Rubber goods,
American Grass Twine, Twin City Rapid
lEdHSlit Nt5llHEuouSc EietlIlG SOuAiuou
and FIRST preferred, and General Electric.
Gains in this group ran from l to 5
points. There We're losses of from / to
2 points on proft-taking in number of
similar stocks and National Salt sold
down seven points from its last sale.
There was desultory speculation here
and there among the high priced indus
trials and in one or two groups as a
whole but the movements were OF little
Significance and the tone OF the market
was at all times mixed and irregular.
Analganated Copper and Sugar were in
cllned to heayiness, the first on reports
that the purchase of a mine reported yes
terday had been given undue significance
and the latter on the shading OF prices
on refined sugar. Amalgamated rose sud
denly q point over last night at tho last
Brooklyn Transit was notably strong.
The short interest seemed TO he intimi
dated by the large borrowing demand
for the stocks which has been supposed
to be Tor voting purposes at the coming
meeting. The iron and steel industrials
were in good demand on trade conditions,
but an abrupt reaction in Tennessee Coal
at the last, which carried it below last
night. affected the others in the group.
The most notable movement of the day
YVES in Lackawanna which was lifted s
points as result OF the very strong
showing in the annual report. Other coal
ers responded moderately. In the Read
ings the speculative pool was buying the
second preferred while selling the COM
mon The basis of the speculation in
these stocks is the supposition that the
second preferred is to be converted one
half into the common and one-half into
the first preferred, which would tx the
value of the second preferred midway be-
tween those of the common and first ire
ferrod. The strength of the specialties
kept the general nndertone firm but the
dealings in the stocks of the great rail
road companies reflected no convinced
opinion on the prospect of any great
changes IN future conditions.
The bond market was fairly active and
firm. Total sales (par valued $2445,oo0
United States new As advanced Is
Per cent on the last call.
Total sales of stocks today were 4SS,-
500 shares, including Atchison, 9,40o;
Canadian Pacific, S,400; Chicago. Indian
apols and st. Louis, 1900; Chicago and
Great Western. $500; Colorado South
ern, $500: Manhattan, 6,100; Metropoli-'
tan, 200; Pennsylvania, $500; Reading,
81, 400; do second preferred, $1,000; st.
Paul, $500; Southern Pacific, 1880;
Southern Railway, $500: Union Pacific.
10000: Amalgamated Copper, 40,Se0;
Brooklyn, $4,000; Colorado Fuel and
Iron, 1900: Peoples Gas, 1900; Sugar
9,400; Tennessee Coal and Iron, 20.20C;
TT G Ctaal II eCO. 1n praferrad II 100.
American Locomotive. 1850.