The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-15
STOCKS AND BONDS.

New York, Feb 14.--The reaction which
developed in yesterdays stock market
continued this morning but was checked
during the day and level of prices was
established substantially above last
night The market became unsteady
again and closed rather heavy. The
question of a tax on stocks as collateral
for call loans seemed to play an effect
i've part in the days dealings. yesterday S
decision TO collect the tax being appar-
entity responsible for the weakness OF the
market this morning. Later reports that
the question was still open to construc-
ton were followed by the rally in the
market The special stocks which led
the recovery Were apparently influenced
by individual causes also. The dealings
in Colorado and Southern were on q
very heavy scale. The preferred stocks
were also strong. The rumor in the
street 10 account for the movement is
that competition for control of the road
is going on. probably between Union Pa
cific and the Gould interests. The
strength of Sugar was due TO the decision
to take up the Cuban reciprocity ques-
ton in Congress after the war tax re-
ductioa measure is out of the way. Bal
tmore and Ohio was in very active de-
mand and more than recovered its semi
annua! dividend OF two per cent, which
came off this morning. Brooklyn Transit
made a notable recovery from yesterdays
deprission and Manhattan was strong in
sympathy. but Metropolitan Street Rail-
way fell away over point at the last.
No public announcement had been made
in the street of the Metropolit read
jnstment plan. The Chicago and Great
Western stocks rose from one TO two
points on reports that the company hal
acquired the st. Joseph and Grand Is
land Southern Railway preferred rose
on the belief that it is to be placed on
a FIVE per cent dividend basis. The ad
vance in Southern Pacific was also re-
sumed fer over point. Anlalgamated
Copper was the leader of the specialties
in point of activity and dropped 1ss at
one time. The Glucose stocks lost 2A
each Some OF the minor stocks which
have recently advanced suffered particu-
larry from profit taking in the morning.
Burlington Cedar Rapids and Northern
jumped six points On two transactions. As
there have been no gold exports this
week the gain in cash on the interior
movement and on Sub-Treasury opera
lions is expected to be fully reflected in
tomorrows bank statement, the Erospec-
tive gain being over s2,000,o00 The gen
eral expectation is for further loan
expansion.
Bonds were again active, but the move
ment OF prices was irregular. Total
sales (par value) 49, 545, 000
United States bonds were all unchanged
on the last call.
Total sales of stocks today were 65t 900
shares, including the following: Atchison
800; Chicago and Great Western II 40o;
Colorado Southern 5000; Colorado South
ern irst preferred 5000; Colorado South
ern second preferred 1880; Erie 1900;
Manhattan 13,100; Metropolitan $4,000:
Pennsylvania 11,So0; Reading 24,6O0
Reading second preferred 22100; st. Paul
IA. 500 Southern Pacific 4S700; Southern
Railway So, 400: Southern Railway pre-
ferred 1920; Texas Pacific $500: Union
Pacific 1920: Amalgamated Copper A.
200. Brooklyn Transit $4,000; Sugar "a.
500; Tennessee Coal and Iron $500; =.
S. Steel 1850; U. S. Steel preferred 2S,-
$50.