The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-24
STOCKS AND BONDS

New York, Jan. 23.--There was no re-
turn Of animation to the stock market
today and the bulk of the small opera
lions was confined to short list of stocks.
which advanced quite strongly from the
influence of special causes. Even in these
the dominant professional element was
evident in the selling to take profits on
the advance. There was a movement in
the Vanderbilts which was apparently
stimulated by assertions that part of the
new stock issue of the New York Cen
trail was to be exchanged for that OF
Cleveland, Cincinnati, Chicago and St.
Louis, but the movement spent it's force
in the course of the day. st. Lawrence
and Adirondack was marked up over 4
points apparently on the expectation that
it would be taken over by New York
Central. The recently prevalent strength
OF the local traction stocks led by Met
ropolitan Street Railway continued for a
time today but the whole group sue
cumbed to realizing. Sugar succeeded TO
tie leadership of the market and late
in the day was lifted 9A points over last
night. An advance OF ten points in the
price of the products and reports of an
agreement at Washington looking to the
accountable for that movement. The news
that an agreement had been reached be-
tween Western railroads and packing
houses to maintain rates; thus relieving
the Objectionable conditions against
which the inquiry by the Interstate Com
merce Commission was directed, had a
stimulating effect on the Pacifics. Gran
gers ard Soutnwesterns. Missouri Pa
1,~J of .
Dealings in the railroad list were on a
email scale however. There are growing
symptoms of a plethora of money at all
OF the great centres of capital. Today's
DEDUCTION in the Bank of England's dis
count rate vas contrary to expectation,
as large collections of taxes We're ex-
pected to deplete the London money mar
ket at this time. Tcdays statement Of
the Bank of France shows such an ac-a
emulation there as to offer little in
nucement to call home capital, but Berlin
seems the center of greater redundancy,
as is shown by the fact that Berlin has
been buying bills in the London money
market and easing the discount rate there
while in the very act of subscribing
sixty times over for the proffered Gov
ernment loans of SIS, coo. There is a
continued accumulation of money in New
York also but without the stimulating
effect on speculation which is manifest
al other great money centers. re-
rarkable development in the situation
here is the fact that very large time
leans, running into the millions of dol
lars. are being negotiated at interior
domestic points for New York account.
There was continued activity among
Usually quiet bonds and some striking
gains were recorded, but the market gen.
orally was irregular.
Total sales (par value) 5445.0 GOO.
United States new As, coupons, de-
clinad u per cent on the last call.
Total sales Cor the day were 396,2oo
shares, including the following: Atchi-
son 1890; Erie $500; l.. and ~, 1900:
Manhattan 1890 Metropolitan 46,S0o;
Mexican Central 1900: Missouri Pacific
Is. 800. Pennsylvania 1900; Reading So
100: St. Paul LOO Southern Pacific C.
SEQ: Union Pacific 14.200; Amalgamated
Copper II 800; Brooklyn Rapid Transit
1890, Sugar 54.700; U. s. Steel preferred
5400