The news & observer., 1902-02-06
STOCKS AND BONDS.


New York, Feb. 5.-Today's stock mar
ket was dull affair again In spite Of
spasmodic efforts by professional traders
and speculative pools to awaken a gen.
eral movement in the market BY the
time they succeeded in moving prices at
one point depression would develop in
another, and in consequence the dull
movement was irregular all day. Striking
investment stocks continued a feature.
The. significance of this movement was
not disclosed although traders sought
to make the most of them for their sym
pathetic effect on the general list. These
apparently sensational movements on a
very small volume of trading are nat
ural consequence where the stock Of a
company Is closely held for purposes of
control or centralized in the hands of a
few conservative and powerful capital
lists for investment who are quite unin-
f1uenced by the course of prices i'll the
open market. Among the stocks so
moving today We're the Chicago and
Northwesterns, American Express, Unit
ed States Express and Lackawanna,
Nashville, Chattanooga and St. Louis
which advanced 1012 yesterday, reacted
31a today. but closed with a net loss of
only g The recent sensational upward
movement in Lackawanna is associated
with the rumors of control of that road
In the interest of an outlet for the
Wabash system The Wabash stocks
were very firm today in the same con-
nection. Another center of speculation
was in the local traction stocks. under
the influence of published reports from
Philadelphia of the formation of q Sc
curity company TO hold Metropolitan
Street Railway stock and possibly other
local traction companies. Manhattan was
the most active of this group and Metro
politan Street Railway, after an upward
squirt of Ia, declined on profit taking.
falling 134 below last night during the
day and pulling the other local fractions
down with It, The speculation in Anal
gamated Copper was feverish, the price
running / 3-S during the morning on the
further break in the London copper mar
ket and the slump in Rio Tintos. The
steadying of the London copper market
and reports of panic amongst the bears
in Rio Tintos rallied Amalgamated Cop
per to ] Is over last night, and it was
an effective factor In the late rally in the
New York Stock Market The specula-
tive pool operating in Southern Pacific
took the stock vigorously in hand and
pushed 1t up 1A on very large buying
The general market rallied with some
vigor in sympathy, st. aul rising .
points over last night and number of
other trans continentals about a point
strength just at the close. Other fea-
lures of strength were the Toledo, St
Louis and Western stocks and the jun
or Vanderiblts on rumors of absorption
of the former Vanderbilt interests. Min
ueapolis, st. Paul and Sault StcMaTie
preferred added Az more points to it's
upward course. The recent buying of
sugar continued, but it's net gain was on
ly fraction.
The bond market was only moderately
cative, but was inclined to be firm. To-
tai sales (par value) $4,740,000.
United States refunding rs advanced
is per cent on the last call.
Total sales of stocks 58S, 100 shares, in
Guiding Atchison, $500; Colorado South
ern. Ia 500; do second preferred, 500;
J.. 81 NJ, 6,0O0 Manhattan, 4S,200; Metro
politan, 36,500; Pennsylvania, $500;
Reading, ZOO; st. Paul, 2l500; South
ern Pacific. $1,000; Southern Railway,
g. 500; do preferred, 2,1OO; Waash, 10000;
do preferred, II 200; Amalgamated Cop
per, 81. 900; Brooklyn Rapid Transit, H.
900; Sugar, 2S,S00; United States Steel,
16, 500, and do preferred, 7,l50.
pONDS.