The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-08-01
STOCKS AND BONDS.

STOCKS AND BONDS.
New York, July 31.-There was such
turmoil in the opening stock market
today as to upset the speculative genti-
ment and disappoint the hopes of re-
newal of a consistent upward movement
of prices, which had been INDUCED in as
result of yesterdays development of
fresh deals Probably he feverish up
ward dash of st. Louis and San Fran
cisco, Evansville and Terre Haute, New
York Air brake and a few other stocks
would have been sufficient in themselves
to have distributed sentiment. But
when there was added the downward
plunge of over points in Colorado Fuel
and sharp decline in Peoples Gas, the
upward course of prices with which :he
market opened quickly gave place to
realizing. st. Paul's opening rise of over
a point was lost within a few minutes
of trading. st. Louis and San Francisco
sagged back to below last night during
the course of the forenoon. A few scat
tered advances at different times during
the day proved Intellectual to rouse the
market to activity. Chicago and Alton
and Chicago Terminal Transfer adj
vanced in company on hints of coming
important developments. The rise i'll
Reading seemed to be based upon the
assumption that the rioting in the mine
regions and the calling out of the troops
foreshadowed the break up of the strike.
The drop in Colorado Fuel was attrib-
uted to the fact that the companys
books close today for the stockholders
meeting, so that new purchases would
foc
Peoples Gas decline was due to the re-
fusal OF judicial injunction against
the enforcement of the IS cent gas ordi-
nance. The quick subsistence of the ex-
element which broke out in the market
yesterday when the st. Louis and San
Francisco and Chicago and Eastern ILL
nois We're reported to have consolidated,
was primarily due to the uncertainty
over the actual fact All persons inter-
ested were exceedingly reticent nd
doubts were aroused as to tie real con-
summation of the project. Furthermore,
supposing the project to be achieved,
there will be disappointments involved.
1t is a matter of public notoriety that
Illinois Central has made an offer de-
signed to secure control of Chicago and
Eastern Illinois. The advance in ST.
Louis and San Francisco for the past
week has been on the assumption that
it was 1.-The important system pointed
at as destined for inclusion in the new
Rock Island Company. The fact that The
petition and is thus calculated to arouse
antagonism makes it similar to many of
the recent financial projects talked of.
4 II.
discussed community of interest policy,
which was to parcel out harmoniously
the whole railroad territory amongst the
various financial powers
The money market was calm today, but
Sterling Exchange held steady at the
level of the recent gold exports. The
government deficit which reached over
$12 900, 900 at one time this month, foil to
below $S,000,000 today and The sub-traas-
ury in New York received payment Of
over million dollars by the Central Pa
cific Railroad Company on account OF a
note due to the government. The mar
ket closed quite active and weak prices
running off sharply just at the last.
Bonds were very irregular and inclined
to be easier in The morning. The st.
Louis Southwestern ends, were in large
demand Total sales (par Value) S2,103,-
900.
United States bonds were unchanged
on the last CALL
Total stocks today were SGT ,0G0 shares,
including the following: Atchison, 90
200; c. & o., 1900; Chicago and Alton,
13, 700; Greatwestern, IL 400: Erie, $3.50;
Illinois Central, 90 100; Mexican Central,
10, 800; Missouri Pacific, 4S, 400; n. * W.,
$4,000; Pennsylvania, $500; Reading,
10000; ST. Paul, 1890; S. p, 1880; S.
r., sc, $780, Union Pacific, 17,300 Copper,
6,4OO; C. F. l., 26,SO0; U. S. Leather, $500;
u. S. Steel. II 900.