The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-05-27
STOCKS AND BONDS.

New York. May 26-There was rather
more activity in the market today than
during the latter part of last week, but
it was at the expense of values of stan
dard stocks. There were some special
ties which made striking. advances, which
would have served as a sustaining in
fuence under ordinary circumstances
Neither was there any bad news to &C
count for the selling. The days imme-
date developments were rather favora-
BILE But the failure of the favorable de-
yelopnients and of the persistent hard
ness of the market to attract any gen
eral speculative demand for stocks
served to discourage some considerable
holders, who have tired of the passivity
of the market with the result that they
unloaded considerable lines today. There
seemed to be a large speculative line of
ST. Paul, Union Pacific and less amounts
of various other stocks, which were
urgently pressed for sale The only i'm
mediate news of a depressing character
was the spread of the coal mining la
Dor trouble into some portions of the
soft coal fields in Virginia and West
Virginia. The coalers, themselves, how
ever were little affected. The rate for
call money settled down to a quiet 3 per
cent basis without inducing any notable
demand in the foreign exchange r-rket
for return of borrowed money abroad
But despite the relief accorded by the
large sums borrowed on the European
continent and from our own domestic
centres, there is some solicitude appar-
rent in financial circles over the future
meeting of the large obligations which
have been incurred. Bankers are in
clined to nurse their reserve to some
extent in order to strengthen their po-
sition against the future need. 1t is
believed that the trust companies are
also disposed to build up their reserves,
in compliance with the intimation from
the clearing house authorities that the
total volume of outstanding credits ought
to have greater reserve back of them
than those included in the banks re-
serve alone the retention of the
exchange rate at the low level, despite
the easing off OF the money market is
the more remarkable in view of the con-
siderable buying of British consols for
American account Canadian Pacific con-
tinued it's remarkable advance which
gave rise to rumors of something like
struggle for control between the pres
ent dominant interest and the Northern
Securities group. There were a few
minor points of strength among the rail
roads. Rutland, preferred, scored a nine
point recovery on light transactions
Among the industrials which were as ir-
regular a sthe railroads, Pressed Steel
Car was conspicuous for rise of nearly
hve points, without explanation. Fa
vorable news from the crops, continued
increases in railroad earnings reported
for the third week of May and generally
encouraging news from all branches of
industry except the coal trade seemed
TO be ignored in the trading. The mark
ct closed quite active and irregular, but
with many prominent stocks at about the
lowest
The bond market was rather dull and
irregular Total sales par value 81 045,-
900. United States bonds were all I'M
charged on the last call.
Total sales of stocks today were 513 900
shares, including Atchison 1920; Ca
madam Pacific III 600; Baltimore and
Ohio 800; Norfolk and Western 1000;
Reading 10000; st. Paul $4,000; Southern
Pacific 900; Southern Railway 2,700
Union Pacific 10000; Wabash 5000; Wis
consin Central 1900; Wisconsin Central,
preferred 1900 A. G. P. 1880; Ameri-
can Car Foundry 1880; Smelling 1880;
brooklyn 1900; Colorado Fuel and Iron
1900; Pressed Steel 301O0; United
States Steel $3.50