The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-06-18
STOCKS AND RoNDs.

New York, June 17.-9esterday VOL
ume of activity in stocks was about
maintained today and the degree of di-
yersity of the trading was very similar
The movement of prices was rather IT.
regular. in spite of the striking gains
by some of the stocks which led the
market in point of activity. a move
ment to take profits in ST. Paul added
to the irregular appearance, " nhei
market, as the grain carrying railroads
generally showed some conspicuous
points of strength. The upward move
ment in the Readings was also pro-
nounced and the dealings in that stock
were on a very large scale, even after
allowing for it's enumeration as half
shares. The forces back of these move
ments were concentrated and their OPP
erations were not conspicuous outside OF
A few stocks 1t was not clear that the
large buying movements in all cases Were
from Identical sources. but it was evil
dent that the operations were in con-
cert. The brokers who were buying
Reading were sellers of st. Paul. while
the large absorption of Missouri Pacific
seemed to come from other sources, said
to he a pool which has operated in this
raintained it's recent stable tendency.
and the Atchisons were not so active as
yesterday. Several minor stocks among
the Changers were active and strong,
notably the st. Joseph and Grand Island
stocks under the combined influence OF
the approach of the dividend period and
rumors of absorption by Union Pac1hc.
There was great irregularity among the
Industrials, but the most active stocks
in that department were heavy. There
was active liquidation in Sugar, owing
to unfayorable opinion of the chances
of Cuban reciprocity in the Senate.
United States Steel stocks were depress-
ed by yesterdays injunction measure
against the stock conversion. Genera |
Electric was easily forced down nine
points on light selling. There was some
demand on the other hand for Pressed
Steel Car, American Car and Foundry,
American Snuff, Bicycle, preferred, and
New York Dock. the last named rising
six and quarter points. There YVES
no news to explain the movement among
the leaders, beyond the progress of a
speculative campaign. The excitement
in the corn market did not affect the
corn carrying roads as it was not asso-
ciated with bad crop reports. The fall
ing of showers in the cotton belt was
learned with satisfaction and the
strength of wheat in foreign markets,
which was reflected here was favorable
influence on the prices of stocks.
There was no news of the coal strike
to account for the strength of the
Readings, although assertions were
heard in Wall Street that the collapse
of the strike was probably near at
hand. There was no uneasiness appar-
ent over the money market. notwith
standing the approach of the time for
preparation for the semi annual settle
ment and the known requirements for
several syndicate operations, including
the payment of IS, 900 900 for the Western
Maryland Railroad at Baltimore this
week The market closed quite active
and steady.
The bond market was irregular. Total
sales (par value) $2,245,000.
United States old As registered de-
clined Is and the new As Il per cent on
the last call.
The total sales of stocks today were
391 200 shares, including the following:
Atchison+ 1900; Canadian Pacific 5,700
Erie $780, Iowa Genital 6,1O0; Missouri
Pacific $4,000; Reading 97,160; st. Paul
1900 Union Pacific 1860; Amalga-
mated Copper $500; American Car and
Foundry II 900; American Sugar 271O0
United States Steel 5000; United States
Steel, Preferred, 5,313.