The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-06-19
STOCKS AND BONDS.

STOCKS AND BONDS.
New York, June 1S-Leaders of the
bull campaign in stocks made a more
aggressive demonstration today than at
any time since the campaign was in
augurated. The market broadened and
there was a material increase in activity,
the volume of dealings rising over that
for any one day since some time before
the first of the present month. The
strength in the market was pretty gem
orally disseminated throughout the rail-
road list, but the industrial department
as a whole was a conspicuous exception
to the strength prevailing elsewhere.
There was little news to account for the
rising tendency. The bulk of the OPP
erations was contributed to the Western
speculative party, which was credited
Yesterday with having secured a corner
on the July option in corn. The dis
tress of the shorts in the corn market
this morning seemed to give added effect
to the demonstration in the stock mark
ct. but the sharp reaction later in corn
did not alter materially the tone OF the
stock market The news of the day was
rather adverse to the rise in stocks.
For instance, the calling of a national
apolis. was regarded as increasing the
probabilities CT a suspension of work
amongst soft coal miners. On what
principle this news should induce active
demand for Reading and also for the
soft coal carriers is not very clear. In
fact, realizing made itself effective in
Reading and wiped out all its gain. The
report of too copious rain in the South
west except in portion of Texas, where
it was needed, makes it equally difficult
to account for the strength of the
Southwestern Changers. Nevertheless
Missouri Pacific was absorbed on an
enormous scale The Gould railroad
stocks generally were affected in SYM
pathy and st. Louis Southwestern, pre-
ferred, which rose 43s was especially
strong. The Improvement in the strate-
getic position of the Gould system and
the general belief in the coming forma-
ton of a central holding company are
persisting influences on thcEe stocks.
The dealings in Union Pacific also were
well uD to the total of other leaders.
The most influential movement in the
market was that in Illinois Central,
which was lifted an extreme seven
points, with constantly increasing
urgency as the top level was approach
ed. The stock reacted two points at
the last The depression of Industrials
today was in marked contrast to the
strength of railroads. The dribbling
liquidation in the United States Steel
stocks continued and American Sugar
was weak on the belief that no actino
on Cuban reciprocity will be taken at
this session of Congress. The market
closed active and rather easy.
The market for bonds was spotty and
irregular The total sales (par valueJ
were $4510.000.
United States rs registered and the
old As advanced B, the s Il and the rs
coupon 3s per cent on the last call.
The total sales of stocks today were
737, 200 shares, including the following:
Atchison 24900; Atchison, preferred
$500; Baltimore and Ohio $780, Cana
dian Pacific $500; Chicago Great West
ern 1900; Illinois Central 1890; Man
haitian Elevated 5,4OO; New York Cen
trail $500; Norfolk and Western 300;
Pennsylvania Railroad 81, 200; Phila-
delphia and Reading $4,000; Philadelphia
and Reading, second preferred. 1920;
st. Louis Southwestern, preferred 1880;
Chicago. Milwaukee and st. Paul 20, 400;
Southern Pacific 1880; Southern Rail-
way $500; Union Pacific 101, 900; Wabash
81 300; Wabash, preferred, 11,700; Anal
gamated Copper $500; Colorado Fuel and
Iron 6,000 American Sugar Refining
20 100; United States Steel Corporation
1900; United States Steel Corporation
preferred. $500.