The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-18
TIE AND OBSERVER FRIDAY MORNING APRIL 49, 1902

erss by Southern Railway officials of any
interest on the part of that road in the
settlement had left room for all sorts
of rumors of possible further complica-
tions which it was thought desirable,
apparently, to check. Louisville and
Nashville stock also rallied strongly to
35s over last night after the statement
appeared. 1t was regarded as a strk-
ing demonstration of the secure hold of
the speculative situation which has been
obtained by the group of Western mill
lionaires, now the leaders of the mar
ket that they should have been able to
keep up the show of strength in the mar
ket in face of reactionary tendency in
Southern Railway and a number of other
unfavorable factors. AS a matter of fact
extreme animation and broadening show
of strength were the features of the
market bearing every resemblance to
previous great bull markets. The irregu-
larity due to active profit taking going
on side by side with new buying was
also in evidence, marking the diversion
of speculative profits from one group of
stocks into another. The Coalers were
the most conspicuously strong stocks to-
day led by Reading which was dealt in
ing for the reckoning in half shares of
the par value of $50. Reports were cir
culated that a secret agreement had been
reached averting the possibility of coal
miners strike. Heavy buying orders for
the Readings and Fries came from Lon
don and the impression was conveyed
that these were due to Mr. Morgan's
presence there The Coalers all suffered
fror talxi bo nd
the leadership of the market was shifted
to Atchison, which rose suddenly to 81,
followed by Colorado Fuel and Louis
vile. The explanation of the buying of
Atchison was not forthcoming but the
stock has not shared in the recent ad-
vances among the Changers and South
westerns, which were all somewhat af-
fected by realizing today Intertwined
with these dominant movements were
many cross currents among minor stocks,
some declining but all due to some in
dividual causes or to operations by spec
ulative pools The rather decided action
Of the grain market rejecting misgivings
over the weather conditions for the crops
was quite ignored in the trading. The
reduction of the Amalgamated Copper
dividend which has been looked forward
to with apprehension for long time was
totally ignored and that stock itself was
run up after the announcement of the div
idend to nearly a point above last night
after having falling IL. The stock
closed with fractional net loss. United
States Steel stocks were moved up a
point after a long dormant period. Evil
dences of recuperation in the local money
market were a conserving influence on
the speculation. The market closed ac-
tive and irregular.
Bonds were quite active and irregular.
Total sales (par value) $59SO,OOO
L. S. old AS coupons, advanced Is
per cent and the 3's coupons, declined II
per cent on the last call.
otal sales for the day were LAOS, 900
shares, inclding Atchison SO, 700; Atchison
preferred 10,10O; b. and O.. $500; Cana
dian Pacific Is 500; c. and O., $500; Chi.
cago indianapolis and Louisville 1900;
Chicago ana Great Western 26500; Chi
cago Terminal and Transit 5,1Q0; Chicago
Terminal and Transit preferred 5000; ID.
and H., 1900 Denver and Rio Grande
5000; Denver AMI Rio Grande preferred
1900; Erie $4,000; Illinois Central $500;
Iowa Central preferred 800; l.. and NJ,
31200; Missouri Pacific $500; o. and w,
100; Pennsylvania 26700; Reading 267,-
400; Reading first preferred $500; Read
ing second preferred 523.100; st. Paul
1880; Southern Pacific 1890; Southern
Railway 60 800; Southern Railway pre-
ferred 100; Texas Pacific 500; Union
Pacific 24,100; Wabash 1900; Wisconsin
Central ASSOC; Amalgamated Copper a.
700; Colorado Eel and Iron 95e 100; Intuer-
national Power 10 500: Sugar 1890 Ten
ressee Coal and Iron 5000: u S. Steel
q $50; u S. Steel preferred 1929; Yves
tern Union 22,600 American Locomotive
$1,000; American Locomotive preferred
1920.