The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-06-03
NEW YORK STOCK MARKET.

| New York, June None of the news
developments since the Stock Exchange
closed on Thursday afternoon aVailed to
| induce any activity in the trading.
Neither the declarations of peace in
| South Africa nor the acute stage reached
in the anthracite strike awakened an in
terest in the stock market either on the
buying or selling side. There was some
early demand for grain carrying rail-
roads, owing to the large advance in the
net earnings reported for April over
those for last year. The very light move
mcnt Of grain, especially of corn, owing
| to last years crop failure, and the prom.
| isirg outlook for a full crop this year
gave added force to this showing I'm
| ion Pacific, Burlington, Canadian Pacific
! among the grain carriers and Reading,
| Lehigh Valley and Norfolk and Western
| among the eastern lines show increases
| in April net earnings of from 100000 to
near $500, 900. The languid response TO
| the peace news was in accord with the
| tone of the London market itself. This
was partly attributed there TO the taking
up of attention with the rejoicings over
the peace. But there was undoubte1
the part of spectators who have bought
for several days past in all anticipation
of the peace This purely speculative
profit taking, however, does not alter the
evident Importance to the whole financial
world of the ending of the war. the
stoppage of expenditure unproductiVe
from the economic standpoint. and the
premise of early renewal Of abundant
supply of money metal from the South
African gold mines. The reports from
the anthracite region received in Wall
Street were reassuring as to the sue
cess Of the companies in keeping their
pumping machinery active and thus pre-
venting damage to the mine by flooding,
in spite of the response to the strike Or
derS en- the part Of the engineers Of the
pump engines. 1t would be violent IS
sumption to read any significance in to-
days stock operations as a reflection of
general financial sentiment. There were
few open accounts left open among the
transfers after the triple holiday and
the light new commitments were almost
entirely among this class, and were large
| ly closed out again before the end of the
| day, as shown by the general return of
| LIt p!lCe ltNPl w Illdt IUdu6 dt tue OlJtfl-
ing. The conviction is general that the
| money market must be kept free from
| extraordinary strains until the outlook
| is clearer for the meeting must be met.
| and the proba bility of an active trade de-
| mand for money into the interior coun-
| try incite to caution until the attitude
| of foreign borrowers at the period of re-
| newals becomes evident. The whole
| problem of course turns largely ON the
size of the coming corn crop.
Bonds were dull and irregular. Total
sales (par value) $3,105,000.
United States ends and old As declined
| Is and the new As IA per cent. on the
| last call.
| Total sales of stocks today were 210-
| $50 shares, including Atchison, $4,000:
| Canadian Pacific, 3S, 100; Reading 1920;
| ST Paul, $1,000: Southern Railway. 2,100.
| Urion Pacific 300; Amalgamated Cop
per, $500; United States Steel. $500;
United States Steel preferred, G700.