The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-03-20
STOCKS AND BONDS.

New York. March LIT is not often
that the stock market witnesses such a
series of spectacular and sensational
movements as it was treated to today
and in rather a dull market at that. In
fact the dullness in the general list was
extreme and prices of the important rail
road stocks moved only with the ut
most reluctance. The usual favorites
amongst the industrials had a larger
share in the trading both Amalgamated
Copper and Sugar occupying fairly
prominent places. But it was amongst
the stocks which are traded in only at
intervals of weeks as a rule that the
speculation was fierce and the price
movement violent. There was nothing in
the way of news to explain why buying
orders for $500 shares of Colorado Fuel
should make wide opening in that
stock all the day from par to 107 COM
pared with So last night. Neither the
high point of this range nor the low
point was touched again during the day,
but the dealings continued very heavy
and the fluctuations feverish. Activity
was revived in New York Air Brake
with jump of 10A in price and a sub
sequent relapse of fully half that. North
American suffered from realizing after
the opening advance, but forged upwards
again to 6A above last night and huc-
tuated widely. The rise of 51h in Gen
eral Electric and of 8 in Westinghouse
were due to rumors of consolidation. but
both of these reacted sharply Ameri-
can Ice rebounded 2as from its recent
violent decline. In the railroad list
Chicago, indianapolis and Louisville was
rushed up AZ on distinctly formulated
rumors that it was to. be placed on a
four per cent dividend basis. Late in
the day st. Louis and San Francisco
sprang into activity and strength with
an advance of nearly points, due to
published report that they contemplated
an extension to the Pacific Coast There
was some late strength also in Atchison
which was practically the only railroad
stock in the list of first Importance
which moved as much as point There
was considerable demand, however for
Baltimore and Ohio. The rise of 2% in
Sugar was due to the agreement reached
at Washington upon the question of the
Cuban sugar tariff, and also to the GER
sachusetts secretary, showing large in
crease in resources. Meantime there
were wide declines in stocks which have
enjoyed recent periods of strength, the
losses being caused by the marketing of
only few shares. Amongst these were
losses of points each in Chicago and
Northwestern preferred, and Glucose,
preferred, trust receipts, 8 in Evansville
and Terre Haute and point Or more
in various others. Wells Fargo dipped
IA on one transaction and rallied 2%
on another. These violent movements
caused so much confusion and distrust
amongst spectators generally that the
trading became neglected Anxiety was
renewed also regarding the immediate
future of the money market, which
showed a hardening tendency today.
The conference of coal miners at Shame
kin was also an unsettling influence.
The bond market was rather dull and
irregular. Total sales par value
81, 615, 900.
United States bonds were all unchanged
on the last call. Total sales for the
day were $50, 200 shares, including Atchi-
son 2S.400; Atchison, preferred, 5,4OO;
Baltimore and Ohio 21.3O0; Chicago,
indianapolis and St. Louis II 400; Colo
RADIO Southern $500; Erie $500: Manhat-
tan 1850; Metropolitan 14,100; Penn
sylvania 7,700 Reading II, 700; st. Louis
and San Francisco 5000; st. Paul $500;
Southern Pacific 400; Union Pacific
1900; Amalgamated Copper 29,700;
Brooklyn Transit 1900; Colorado Fuel
and Iron $1,000; International Paper
1900; National Biscuit 7,40O; North
American 1900; Sugar $4,000; United
States Steel, preferred, 6.700