The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-05
STOCKS AND BONDS.

4
New York, April 4-Today's stock
market gave unmistakable evidence of
substantial recruiting of the speculative
! element The movement was a good
| deal of a mystery, both as to its motive
and as to the identity of the operators.
Stock market gossip attributed it to the
same group Of Western capitalists to
which many recent movements have
| been attributed. and which has been sup
posed to be concerned in the present
large speculative operations in the grain
markets. The dealings in st. Paul and
Union Pacific were wildly reminiscent
of the days of the boom of last year If
the dealings in these stocks are added
to those in Louisville and Nashville and
| in Southern Pacific, it will be found that
considerably more than one third of the
days aggregate transactions are ac-
counted for. 1t was not until late in the
day, in fact, that much. impression was
made upon other portions of the list
Such stocks as the New York public
utilities. New York Central and Penn
sylvania were then brought forward with
spasmodic advances. In the final hour
selling to take profits made heavy in
ROADS upon prices and reduced all of the
market closed dull but steady There
was no news to account for the sudden
demand for stocks, although rumors
were plenty, pointing to fresh
REIMBURSEMENT of control in the trans
continental railroad system. Rather the
movement seemed based upon an assunlp-
| tion that the time of doubt and uncer-
| tainty over the outcome of the year was
I he 10 ncf 70
quirements upon the money market sup
posed to be met and with the crops as
sured of a good condition after the winter
| to start the season with. To account for
any such total of sales as those recorded
| in the principal active stocks today, al
lowance must be made for the sale and
resale many times of identical holdings.
The general reaction at the end of the
| day also points to the tentative charac-
ter of the speculation. There was very
active realizing among many of the
specialties recently advanced, conspicu-
ously sugar and Colorado Fuel and Iron.
| Neither was there lacking the wide ad-
vauces in obscure specialties, which have
recently characterized the market.
There was no change in the situation of
the money market, except as indicated
| by a loss of cash by the banks during
the week of over 100000 to the Sub
| Treasury, which is offset by q gain on
| the interior movement of less than a
million dollars. The frmness of sterling
exchange and the further decline in Paris
rate Of sterling points to gold exports
next week The local money market was
| quiet, however, and the forecast of the
tank statement made very little impress
sion on the stock market
There was an active demand for bonds,
for which there was a good open market
all day Total sales (par value) $780,
! 0O0.
United States bonds were all I'M
changed on the last call.
The total sales of stocks for the day
were 1,134,2 shares, including the fol-
| lowing: Atchison .26,S00 Chicago, Rock
Island and Pacific 5000; Colorado South
ern 17,40O; Colorado Southern, second
preferred, 1900; Erie 1920; Illinois
Central 25,C0G; Louisville and Nashville
101 SEQ; Manhattan Elevated 1890; Mis-
souri, Pacific 12.600 New York Central
| 5000; Pennsylvania Railroad 46,4OO;
Philadelphia and Reading 26,000; Phila-
delphia and Reading. second preferred,
| $500; st. Louis and San Francisco 500;
| Chicago, Milwaukee and St. Paul 175,500;
| Chicago, Milwaukee and St Paul, pre-
| ferred, II 800; Southern Pacific 39,700
Southern Railway 7,4C0; Southern Rail-
way. preferred, $500; Texas and Pacific
IA, 800; Union Pacific 1873 GOO; Wabash,
| Irefe rred, $780, Wisconsin Central 5.100
Amalgamated Copper 1890: Brooklyn
| Rapid Transit 5000; Colorado Fuel and
| Iron II 300; Hooking Valley Coal $500;
North Carolina$Sshrdlueta
North American 5,400; Peoples Gas Light
and Coke Company II, 7C0: American
Sugar Refining 29,7OO; United States
! Leather 7,10O; United States Steel Cor
poration 5000