The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-02-08
STOCKS AND BONDS.

New York. Feb THE movement OF
prices in today's stock market became
highly irregular, but the tone was
healthier and the breadth and activity
in the market were maintained at yes
terdays level. The professional opera
tors. who largely absorbed the market
oDerated with considerable confidence,
and did not hesitate to buy and bid up
stocks in new quarters at the same time
as they were taking profits on their re-
cent purchases in others. Some of the
closely held Investment stocks. which
have had sensational advances recently
because there were no shares for sale
even at much higher bids. relapsed vio-
lenily today on attempts 10 take profits,
illustrating the narrowness of the mark
ct for this class of stocks. Lackawanna
slumped points on top of yesterdays
loss of nearly FIVE points and Northwest
dropped AZ. without recovery. Lacta-
wanna. however. rallied points. The
same tendency was shown TO less de-
gree in a number of other railroad
stocks which have been unreasonably bid
no of late. There was a very notable
pressure to realize profits also in South
ern Pacific, in which the dealings con-
Il
mated Copper was about the only stock
in the list that showed positive depres-
sion Its loss AT one time extended to
25a but this was reduced by rally to
rs The principal factor of strength in
the market was Illinois Central which
advanced an extreme -31a on a. volume of
dealings very unusual in that rather
closely held security. The advance had
no other explanation than the relatively
low price of the stock compared with
other stocks similarly situated and pay
ing only as great or even smaller, diyi-
dends The advance in the stock brought
out various old rumors of absorption of
minor systems and the stock of many
railroads which could by amy possibility,
be available for merging with Ili-
nois Central, were advanced sharply. The
favorable showing of the great corn car
rying roads for December, as in the case
of Burlington and Rock Island also help
ed to strengthen this class. There was
an upward rush in Metropolitan Street
Railway. which carried it pa over last
night and a similar movement of more
than ? points in Sugar, but neither of
these was rnaint aimed. Brooklyn Transit
rose more than point. Late in the day
Manhattan was raided down points on
the news of an unfayorable court deci-
sion against the company. and this made
the closing of the market unsettled.
Little attention was paid to estimates
of the bank statement, as the tone of the
money market continued easy.
The bond market was quite active but
irregular.
Total sales (par value) $3.50, 900.
United States As advanced 4 per cent
on the last call.
Total sales of stocks today were 6S4, 700
shares including Atchison 80. 500; Atchi-
son. preferred 5000 Baltimore and Ohio
500? Denver and Rio Grande, preferred
1900; Erie $500; Illinois Central 1900;
Iowa Central 4,200; Louisville and Nash
vile 12.4O0; Manhattan 25.600; Metropoli-
tan % 200; Missouri Pacific $500; Norfolk
and Western $500; Pennsylvania 14.100;
Reading 1880; st. Paul $500 Southern
Pacific $4,000; Southern Railway 200:
Southern Railway, preferred 5000: Union
Pacific $4,000; Wabash 10.400: Wabash,
peferred. 1880; Anna lgamated Copper
81 500; Brooklyn Transit 1880: Sugar
81, 100; United States Steel Il, 800; United
States Steel. preferred 5000.