The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-08
sEABOARD STOCKS AND BONDS.
BALTIMORE, April dashboard Air Line
COMMON 24024A: preferred 44G44h.
Bopds-4's 831s0S34.
STOCKS AND BONDS.

New York, April 1.-THE upward move
ment of stocks which had attained some
Roadway during the latter part of last
week did not prosper today in face of
the rapidly contracting supplies in the
money market. The stocks which were
made the leaders of last weeks move
ment were the chief sufferers from the
selling. The total volume of dealings
fell considerably below the million share
mark touched on Friday, but consider
ably more than one-third Of the total was
made up of st. Paul, Louisville and
Nashville and Unior Pacific. The selling
cost st. Paul 3-S, Louisville and Nash
vile rs, and Union Pacific 1 3-S This
course of events naturally detracted
somewhat from the interest in the con-
lectures of the source of the heavy de-
mand for those stocks and the cOmmun-
ity of interest and merger project which
might be aimed at. Wall Streets sus-
picion of last week that the movement
was a speculative manOeuvre to invite
a following in the general market was
strengthened. The rather abrupt reac-
tion in these stocks as a result of the
developments in the money market was
chiefly remarkable from the fact that
those developments were generally adj
mitted to be pending last week The an
sWer made to this was that the abund-
ance of capital, in the West would re-
lieve the situation and give free scope to
the buying of stocks. But when the rall
money rate shot up to seven per cent.
this afternoon the highest point of the
season, this assurance did not avail to
prevent throwing over of large amounts
of stocks. The foreign exchange was ap-
parently not in the least affected by the
outgo of 81, SOC, 600 gold, showing that the
consignment is in payment of foreign OBJ
legations, as has been the case with pre-
ceding shipments for some time AS the
bank statement on Saturday showed the
surplus reserve down to 81, GAG, 525, it will
be perceived that today's demands were
sufficient to wipe out the surplus All
departments of the list were affected and
the days losses run quite generally from
one to two points and over that in ex-
ceptional cases. Amalgamated Copper
ignored the general tendency of the mar
ket as it did when the market was go
ing up and rose briskly at the last Of the
day to III over last week Other firm
spots were in the local fractions, some
of the express stocks, Westinghouse
Electric. Chicago and Alton, the Wis
consin Central stocks the Duluth South
Shore and Atlantic stocks and some
minor stocks. The action of the days
grain markets gave some intimation that
last weeks stock market assumptions of
the safety of the winter wheat crop were
somewhat premature. But the furry in
the money market was the overshadow-
ing influence and the market closed act
i've and easy and generally at the lowest.
A few Of the newer bond issues were
advanced, but the general tendency was
slightly easier in sympathy with stocks.
Total sales (par value) $3.50, 900.
United States bonds were all unchang-
ed on the last call.
The total sales of stocks today were
617 100 shares including the following:
Atchison, 800; Baltimore and Ohio,
4,400; Chicago and Alton, 10000: Louis
vile and Nashville $500 Manhattan
Elevated, 1890; Missouri Pacific, $500:
Penns vlvania Railroad, 10000: Philadel-
phia and Reading, 1S600; Philadelphia
and Reading second preferred, $500: Chi
cago, Milwaukee and st. Paul, rs. 100
Southern Pacific, 1900; Southern Rail
way, 1890; Union Pacific, 1900; Wis
consin Central, $500; American Smelling
and Refining, $780, Brooklyn Rapid
Transit, II 800 Colorado Fuel and Iron,
II 800; American Sugar Refining, $780,
United tSates Leather, $3.50; United
State sSteel Corporation, 1860; United
States Steel Corporation preferrde, TO-
500; Kansas City and Southern, 1000.