The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-09
STOCKS AND BONDS.

New York, April S..-The effect of
yesterday's furry in the money market
was dissipated today and an aggressive
leadership was developed on the recov-
cry i'm stocks. This leadership seemed
to remain with the Western men, who
took hold of the market late last week.
There was some evidence that their
forces had been recruited from other
sources while their position was strong
er by reason of the shaking off of
weak following by yesterdays reaction
The extension of the short interest dur
ing yesterdays decline was also tech
meal factor Cf strength in todays mar
ket The reinsurance of the speculative
element was not immediate this morning
and there was considerable wavering and
uncertainty IN the early movement Of
prices, in fact there was not much in
the market up to neon outside of the
persistent absorption of Louisville and
Nashville and the sharp advance in
Amaleamatcd Copper, apparently con-
tinuation of yesterdays movement.
Louisville and Nashville proved the
central figure of the market and its ag-
grcssive advance was the dominating
|
stocks. The dealings in the stock were
on an enormous scale and there were
indications that the Western contingent
of spectators was reinforced on the
buying side by a well known operator
who only recently returned from a long
trip to recuperate his health. The ex-
PLANTATION offered for the rise wero most
ly in the nature of surmises on the part
of spectators. The reported acGuisi
ton of the Atlanta Knoxville and
Northern Railway was believed to be
the preliminary to active incursion into
new territory. The belief was professed
that the new issue of s5,000,000 of stock
for the purpose of the purchase has al
ready been marked thus freeing from
the future offerings of it. The agrees
sive policy undertaken by the company
gave rise to conjectures as to the posi-
bility of the establishment of d COM
nunity in the territory concerned. ILL
nois Central and Southern Railway pre-
fered were benefited by sympathy.
The movement spread into the South
western stocks and St. Paul, Union Pa
cific, Atchison were little affected by
the movement. There was a general
movement in the Vanderbilts of from
one to three points and large number
of minor stocks, of which the Wisconsin
Central stocks were most conspicuous.
were vigorously advanced. The list of
mipor industrials affected was also as
large as had recently been the rule. Tie
Westinghouse Electric stocks made SEN
sational advances of 14iA for the common
and 10 for the first preferred on the
strength of an analogy with the history
of General Electric. The whole market
gave way on the profit taking, which
developed in the last hour, and the prin~
cipal active stocks were carried back
easy. The rate for call loans today held
firm at to 6 per cent. 1t was believed
that this rate would check further ship
ments of gold and this assurance was a
consderab BILE relief to settlement. The
calling of loans yesterday seems to have
strengthened the situation Of the banks
so far that the feeling in the money
market today was much quieter.
The Central of Georgia income bonds
we're the features of the bond market at
adv ances of 2 to 3 IA per cent. Other
wise the bond market was rather quiet
bat nm. Total sales (par value) SO 370,-
600.
United States bonds We're all unchang-
"a today on the last call.
Torei sales of stocks today were u.s.
500 shares, including Atchison, $4,000;
hIcago, Indianapolis and st. Louis,
300; Louisville and Nashville, 156, 100;
Manhattan 1920 Metropolitan 600;
1
ST. Poul, 23. 500: Southern Pacific, 1900;
Southern, 1880; Union Pacific, 2s.500;
Wisconsin Central. 1890; do preferred.
14.250: Wabash preferred, $4,000; Anal
gamated Copper, $500 Brooklyn Rapid
Transit. 800; Colorado Fuel and Iron,
1880; Sugar, $500; United States Steel,
II 500; do preferred. 100.