The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-03-28
STOCKS AND BONDS.

New York, March 27.-The feverish and
erratic speculation in Colorado Fuel oc-
cupied the largest share of attention on
the stock exchange today. The violent
drop of 53s in the price of this stock was
alleged TO be due to the desires of the
members of the pool to shake off weak
following preliminary to a renewed ad-
vance in the stock. A more logical ex-
PLANTATION was found in the admission to
the stock exchange list for the first time
today of the convertible bonds of the
company. There has been a very active
market on arbitrage for these bonds on
the curb for some time, due to the fact
that they were considerably lower in price
than the stock was quoted on the ex-
change. The operation consisted in buy
ing of the bonds on the curb and selling
the stock on the exchange. 1t was ne
Cessary to borrow stock for delivery un-
til today, when the convertible bonds be-
came good delivery against the sale
of the stock under the ruling of the ex-
change. The bonds also declined sharply
from last nights price on the curb, but
il was noticed that they were held well
above the price of the stock, as though
to discourage the conversion of the bonds
principal activity was in Amalgamated
Copper for which there was an active de-
mand in which brokers usually employed
by inside interests were conspicuous. The
movement was believed to be directed
against the short interest. The stock
lost most of its gain and Colorado Fuel
recovered a good part of it's loss, although
it was on the downward grade at the
close. An active demand for sugar sprang
up late in the day, apparently based on
the advance in the price of some grades
of refined sugar The amicable course of
negotiations between the anthracite min
ers representatives and the operators in
duced covering movement in the Coal
ers and caused general advances in the
group Reading was also helped by it's
good earnings statement for February.
The continued calmness in the money
market while the demand was being salts
fed to carry over until Monday next re-
lieved an apprehension of a furry which
has been present to the mind of specula-
tors all week and induced not a little
covering of short contracts. Some of the
prominent railroad stocks had the advan-
tage of this movement but the general
market was extremely dull and sluggish
all day as is usual on the eve of a pro-
longed holiday. The widest movements
were amongst few specialties. The up
ward movement was renewed in the Col
orado and Southern stocks. Green Bay
and Western jumped 5 Is, Keokuk and
DesMoines 81, the preferred 3b, Lack
awanna 4, Twin City Rapid Transit 3ss
and American Cable 2. The late rally
in the market caused a recovery in the
stocks which had been heavy early in
the day and wiped out most of the losses.
The feature of the bond market was
the active demand for Green Bay and
Western debenture BIS from widely scat
tered sources. They rose IA net and the
debenture AS rose 8 on few transac-
tons Total sales (par value) S4.610 600.
Total sales of stock today were $4,000
shares, including: Atchison 400; Chicago,
Indianapolis and st. Louis 5000; Colorado
Southern 7100 Erie 800; Louisville and
Nashville 500; Missouri Pacific 500;
New York Central 5000; Pennsylvania 6,
100; Reading 10000; Reading second pre-
ferred 1900: Union Pacific $500; Anal