The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-07-26
STOCKS AND BONDS.

New York, July 25.-Violent price
movements and very heavy dealings in
some of the prominent high priced stocks
were the characteristics of todays stock
market There was large realizing at in
tervals, both in the stocks, which were
moved upwards today, and in others,
which had previously advanced. The
Industrials and the low priced railroad
stocks played only small part in the
markets, the high priced standard stocks
traversing all portions of the country,
being in the van of all the days move
ments. The Changers, the Pacifics, the
Southern trunk lines and the Eastern
trunk lines all had their turn in the days
activity. The bulls had the dsadvant-
age of continuing satisfactory conditions
of the crops, of industrial activity and
of the money market, but the effective
factors in the days trading were rumors
of great financial operations looking to
the harmonizing and consolidating of
control of the great railroad systems of
the country. All of these were more or
less vague and none of them was accord
ed open or official sanction That re-
garding Rock Island was most clearly
defined and it was noticeable that that
stock with something like explicit infor-
nation to go on, fell out of forefront of
trading and failed to maintain all of it's
advance. There was authoritative in
timation also that another large railroad
system is to be absorbed, the prevailing
belief pointing to st. Louis and San Fran
cisco. Assertions that Atchison was to
be taken off was effectively denied. Ru-
mors continued thick concerning ST.
Paul, the one assigning it to Union Pa
cific being most persistent, but without
authentic countenances. The Southern
trunk line consolidation story and the
Eastern trunk line reimbursement story
also did effective service in the stock
market without receiving any formal au-
thorization. Even the supposed hostil-
ity between the Pennsylvania and the
bulls on the theory that the defeat of the
Pennsylvania Hudson River tunnel con-
tract was due to Gould influence and
therefore bull card for that group of
securities, while it was alleged that the
Pennsylvania interests were buying to
control Atchison with view to a trans
continental system in retaliation for the
Gould incursion into Pennsylvania ter
ritory. An incident of the day was the
fierce raid on Western Union, which
forced it down over three points by half
point drops. The stock closed at a rally
of a point. There is promise of a gain
in cash reserves of over a million dollars
by the banks tomorrow in spite of the
weeks exports of gold. The market
closed very irregular, but with few
stocks at the top Bonds were some
what firmer today. Total sales (par
value) So, $4,000. United States new AS
registered advanced IA per cent. on the
last CALL
Total sales of stocks today were $751;,
800 shares, including Atchison, $4,000; do
preferred, $500; Chesapeake and Ohio,
12,4O0; c. G. W., $500; Rock Island, 49,
600; Erie, IL 900; Illinois Central, 1880;
Louisville and Nashville, $4,000; Manhat-
tan, 1920; New York Central, n 300;
Norfolk and Western, 5000; Pennsyl-
vania, $3.50; Reading, 12,40O; st. Louis
and San Francisco, $4,000; ST. Louis and
Southwestern, $780, st. Paul, $4,000;
Southern aPcific $1,000; Southern Rail-
way, $4,000; Texas Pacific, $4,000; Union
Pacific. 43,100; do preferred, 1900; Cop
per, $780, Brooklyn, $500; F. f. l., 6,400;
Republic Steel, 6,100; Sugar, 9,000 Ten
nessee Coal, II, 400; u. S. S., 800; West
ern Union. 1890.