The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-11-29
STOCKS AND Bon rs.

New York, Nov 2S--Pticss of stocks
closed today considerably higher than on
Wednesday, in spite of some rather un-
favorable developments and the con-
tinuance of some apprehension over the
monetary conditions. The advances
were attributed to some extent to the
demand from the short interest to cover.
Inducements to do this were offered by
the bidding up of prices by an element
amongst the traders. which set out to
make a campaign against the bears. The
short interest was known to have been
accommodating contracts for considcra-
BILE time and their commitments were
extended on Wednesday on the eve of the
holiday. Todays trading, nevertheless,
was dull as shown by the total trans
actions which did not exceed half a
million shares The attendance at the
board was small. among brokers having
left the city on Wednesday evening to
stay over the end of the week. 1t was
regarded as favorable incident that
the day passed without any additional
pronouncement of hostility on the part
of either side to the controversy for con-
troll of Colorado Fuel. The most nota-
BILE demonstration of the day was in
lifted nearly seven points. carrying with
it Southern Railway and Illinois Central
in sympathy. The movement was vnex-
planned except on the ground of COM
parsons contained in recent circular
of the investment value of Louisville as
compared with other dividend paying
stocks. The movement in Sugar con-
tanned all the earmarks of a campaign
against the shorts, and the urgent de-
mand at the last carried the price up
over five points. Vague rumors of a
deal accompanied the rise in Hooking
Valley. The center of activity was in
the local transactions. Brooklyn Transit,
at this time, led the advance. Manhat-
tan was very active, but fiuctuated mar
rowly and showed the effects of realizing.
Rumors were again circulated Of COM
bination of all the lower transit facili
ties, and share in their control in the
interest of PENNSYLVANIA and New York
Central. The strength of st. Paul was
due to the expectation that the directors
would act on the authority to issue new
stock at today's meeting. The stock ran
off on the adjournment of the meeting
without action. These various centres
of strength helped the general advance
in the market, which reached a point or
more in long list of stocks. The mark
ct receded when the call money rate
advanced to per cent in the late deal
ings but rallied again and closed steady
under the influence of a squirt in Sugar.
The preliminary estimates foreshadowed
a poor bank return tomorrow.
Sterling exchange continued firm, but
the retention of four per cent discount
by the Bank of England had a favorable
effect.
Bonds were dull and irregular. Total
sales (par value) $1,415,000.
United States 3's registered declined 4
per cent on the last call.
leo shares including Atchison 800;
Baltimore and Ohio 16, 500; Canadian Pa
cifc 1000; Erie $500; Erie, second pre-
ferred, 10000 Hooking Valley 5000;
Louisville and Nashville SO. 700; Man
haitian 30, 900; Missouri Pacific &C. 500:
New York Central 300; Norfolk and
Western 400; Pennsylvania 14.100; Read
ing q 100: ST. Paul 80 200; Southern Pa
cific 29.700; Southern Railway 1880;
Union Pacific 30.S00; Smelling 7,400;
Brooklyn Rapid Transit q 300; Sugar
81 400; United States Steel II. 500 United
States Steel preferred, $500; Rock
Island 12,700; Rock Island, preferred,
Il SEQ.