The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-25
STOCKS AND BONDS.

New York. Jan. 24.-There were at
tempts to hold the market this morning
by the marking up of individual stocks,
which proved successful until the I'M
easiness of the professionals to take their
profits checked the advance. The whole
market then reacted, dropping generally
to well below last night There was
another upward movement when shorts
covered, which reduced the days net
changes to insignificant proportions, but
made the closing firm. Fully one-thrd
of the days transactions were in sugar
and 4Amalgamated Copper. Except for
these there were not half a dozen stocks
in which the transactions amounted to
ten thousand shares. Metropolitan
Street Railway started upward to 172M
but fell back to over point below last
night and closed unchanged. The deal
ings in Sugar were on a very large scale
with no news to account for them beyond
the general expectations of a reduction
in duties on Cuban sugars. This stock
was lifted nearly 2 points, but fell back
to below last nights level, and also
closed unchanged Amalgamated Cop
per Jared better, the late recovery car
rying it back to y Is, the best of the
day and at a net advance of rs The
buying was apparently by a speculative
point, who cited the strength of coppers
in foreign markets as an argument in it's
favor. There We're reports of improved
trade conditions as indicated by the good
demand for raw copper in Europe and
reports of large export demand here.
Rumors of an agreement to restrict the
output of American producers accom-
panied the advance. The strength of
American Smelling was supposed to be
in sympathy. The Wabash stocks and
Western Union were noticeably firm and
Peoples Gas showed some strength on
the declaration of the regular quarterly
dividend. st. Lawrence and Adirondack
rose nearly points more on the an
nouncement of the purchase of a Cana
dian connection in it's interests and the
redemption of 100000 of its six per cent.
bonds There was no news during the
day to explain satisfactorily the reac
tionary tendency which developed, which
therefore must be credited to profit
taking. The sitting of the Inter-S State
Commerce Commission on the matter of
railroad combinations was the subject of
discussion and may have had depressing
StLCti. HS preliminary lSuitS VI inc
weeks cash movement were as good as
expected, indicating a gain by the banks
of nearly seven million dollars in cash
of which Sub-Treasury operations yield
ed $2,37So0
The bond market continued quite act
i've today, but profit-taking made it's
impress there as well as in stocks. There
were some newly active issues on the
other hand which were strong Total
sales (par value) $S,665,o0O.
United States bonds were all unchang-
ed on the last call
Total sales of stocks for the day were
44S, 800 shares, including Atchison, 1900;
Erie, $500: Metropolitan 10000; Missouri
Pacific, 10000; Pennsylvania, S,400; Read
ing, g. 100; do second preferred, 10,S00;
st. Paul, $500; Southern Pacific, 6,400;
Union Pacific $4,000; Copper 7660O;
Wabash, 14,SOO; Anaconda, $500; B. r..
T.. 7,1O0; Peole's Gas, $500; Sugar, TO-
800; United States Steel. $500; do pre-
ferred, 11,700.