The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-03-25
STOCKS AND BONDS.

| S1OCAS AMI bNNbO.
New York, March 24-Today's market
made some attempt to rally from the
ireactionary tendency that developed be-
fore the close on Saturday and to resume
the upward tendency which was peeom-
ing fairly general on Friday. Prices
started higher this morning, but the
market during the day did not hold out
the promise of The early dealings and
| again relapsed into a duh and drifting
condition with the dealings almost en-
tirely in professional hands, and only the
/ more obscure stocks moving with any
/ degree of energy. There was a marked
demand for the Readings and an apt2r-
ent attempt to shift the leadership into
| the coalers from the western gram car
riers, whose strength last week was sup
posed to be due to the favorable PICS
poets of the grain crops But tie OBJ
vious fact that selling to take profits
was going on in st. Paul, showing the
work of professional hands, detra@ted
from the influence of the new strength in
the Readings. The renewed attendance
at his office of the most prominent cap
italiSts in the street and the return 10
New York from holiday excursions of
other large capitalists were looked to by
the more sanguine of the traders to re-
suit in a resumption of market activity,
but except for the buying of tie Read
ings no such influence was apparent.
Amalgamated Copper was notably act
i've and with occasional rallies was de-
pressed on account of a fear that the
Anaconda dividend to be acted on this
week will not he maintained. There
was an active speculation in the United
States leather stocks at advances of a
point or more accompanied by reports
subsequently discredted, that the ac-
cumulated dividends due on the preferred
stock were to be funded into a bond
Louisville and Nashville and Chicago,
Indianapolis and Louisville rose together
in the late trading, thus, reviviIg old
rumors of combinat ton. Outside of
these cases the market was spotty and
uneven and very irregular. There were
wide advances in Evansville and Terre
Haute, North American, General Elec-
tric, corn productions and Keokuk and
Des MoineS preferred, but none Of the
gains We're fully maintained, and there
were wide declines in other stocks which
Fuel was active and cratic, ranging
both above and below Saturdays price
and closing with a net gain of a point
Soothing assurances were heard that
the condition of the money market was
perfectly safe, but the forces of deple-
tiOn at work upon the cash reserves of
the banks and the narrow margins of
their surplus reserve kept awake an I'M
easy sentiment regarding the condition
of the market under tho April settle
ments. With the sub treasury taking
funds from the market an interior de-
mand for currency and sterling exchange
again hardening towards the gold ex-
port point, it is felt that there is danger
of flurries in the money market even
If sustained striDgency can be avoided
The market closed heavy
The bond market was irregular. hut
the active issues were inclined to reCede
Total sales (par vallel $1,72G, 900.
United States Bonds were all unchang-
ed on the last call.
Total sales for the day were 626 900
shares including the following: Atchi-
son. II ZOO: Chicago, Indiana and St
Louis, II. 100; Baltimore and Chic, g. f0O
Erie, 6400; Louisville and Nashville,
24,;0O; Manhattan, 6,4O0; New York
Central $500; Ontario and Western,
5000; Pennsylvania, $500; Reading, 49,
700; Reading first preferred. 5000; Read
ing second preferred, 34,300; St. Paul,
43,300; Southern Pacific, $780, Southern
Railway preferred, $500; Toledo, st.
Louis and Western preferred; 5, zoe: Tn
Irro,
1900; American Car and Foundry, $500;
Brooklyn; 800; Colorado fuel and iron
24,l0O; North American. 1900; Sugar, 49,
400; Tennessee Coal and Iron, G77O0;
Leather 1920: Steel. $500.