The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-05-09
STOCKS AND BONDS.

| New York May S.-Stocks recover,
from vest Arday's weakness today although
| there was considerable uncertainty man =
tested in the prevailing sentiment. A
more cheerful feeling over tho anthracite
outlook is responsible for considerable
| re. buying by short sellers of yesterday
| who protested confidence last night that
| a strike could not be avoided. The hest
tation which developed in the market was
due to a considerable extent 20 the ac-
| ton taken by the mine workers conven-
| tion, which presents an entirely new
rfase of the situation.
The active coalers reflected no mis-
givngs after the announcement of the
miners offer to arbitrate, but the" fell
into comparative dullness. The high
priced coalers offered the anomaly of
early weakness while the Readings were
advancing, making strong recovery after
the demand for the Readings had largely
died out. The whole market fell into
dizziness in the latter part of the day,
while waiting for the announcement of
the reply of the anthracite operators to
the offer of the miners. The result of the
Gays transactions are not much
over half those of yesterday. Outside
the Readings the principal activity was
in st. Paul. Union Pacific, the local trace
tons and Southern Railway. Union Pa
cific and St Paul were bought heavily
for Western account, the attract 80
ing attributed to crop conditions. The
referees decision unfolding the constitu-
tionality of the New York franchise lax
law induced some active liquidation of
the stocks of New York public utilities,
but they were we'll supported and rail-
lied.
The advance III Louisville and Southern
Railway met realizing. Reports Of an ap-
parent contest between the two interests
for control of coal lands increased tn J
disposition to sell. Illinois Central be-
came strong, in contrast to its weakness
yesterday, while the other two stocks
were advancing, There were evidences Of
strength among various minor stocks
which are supposed to be the subject of
manipulation by speculative pools, al
though various rumors continued to cir
culate of their prospective absorption or
merging. Tennessee Coal and Colorado
Fuel were under pressure. The last
named, however recovered to we'll above
last night. International Power fell 9
points below the last sale price, but fully
recovered. There was q sale of st. Law
renee and Adirondack at 81, compared
with the preceding sale price at 1889.
This sale was before the collapse of the
Webb Meyer stocks. Tho incidental
statement by DR.. Webb that he had sold
the road to A. '. Meynrlwas news to the
public this I ming. Money went to 8
per cent again today but sterling eX-
change turned weak and New York en-
change at Chicago recovered rom 20
cents discount to 10 cents premium.
Money brokers' report offerings Of large
sums for lending in New York from va
rious quarters of the country. The loss
already this week to the Sub-Trcasury
of over $4,000, 600 is to be reckoned with
in considering the money market sit
uation.
The bond market recovered today in
sympathy with stocks. Total sales (par
value) 81 100 600.
United States 3's and the new As de-
clined Il per cent on the last call.
Total sales of stocks today We're &c.
800 shares. including Atchison $500; Ca
madam Pacific 22,S00; Chicago and Great
Western $500; Chicago Terminal and
Transit 6,400; Chicago Terminal and
Transit preferred 5000; Delaware and
Hudson 14,100; Erie 1900; Illinois Cen
trail TO- 000 Louisville and Nashville TO-,
600: Manhattan 2S.S00: Metropolitan 49,,
500; Missouri Pacific 1900: Pennsylvania
6,49S Reading 106, 200; Reading nrst pre-
ferred 5000; st. Paul 27,50O; Southern Pa
cific 10, 600 Southern Railway 1890;
Union Pacific $1,000; Wisconsin Central
l0,190: Amalgamated Copper $4,000;
Brooklyn 80 200; Colorado Fuel and Iron.
1900: Consolidated Gas 1000; Sugar l.,
Goo; Tennessee Coal and Iron 10, 400.
GTOCK4