The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-03-26
STOCKS AND BONDS.

New York, March 25.-Today's stock
market began to reflect the expectation
of the coming triple holiday from Tues
day until the Monday after Easter So
long an interval in the trading always
prompts some closing out of accounts.
There is the additional incentive that
the narrow resources of the money mar
ket may lead to a furry in rates when
the demand develops for loans to carry
over from Thursday until Monday. There
We're no immediate developments of i'm
portance in today's money market, but a
number of important requirements are
TO be met for the first of the month and
the beginning of the coming quarter.
These requirements are known to be
considerable, owing to the projects OF
syndicates that the available credits of
the banks within the legal requirement
of the % per cent cash reserves would
be more than wiped out in meeting them
An extensive shifting of loans obviously
will be necessary to meet the situation.
Bankers express confidence that the
steadiness of the money market will not
gin with borrowed money know from
costly experience that this does not ne
cessarily mean that their call loan ac
commodations will be undisturbed at a
pinch. There was a revival of appre-
hension this morning of labor troubles in
the anthracite region, which seems to be
justified in view of the contingent order
of the convention before adjourning for
a strike unless certain demands are
complied with. Reassurances on the
part of those connected with the coal in
terests that no strike was anticipated
were not wholly effective. and there was
some active liquidation, especially in
the Readings. The issuance of injunc-
tions against western railroads forbidding
rebates and rate cutting was not unox-
pected, but the reported determination
of the Interstate Commerce Commits
sion to hold a further and stringent in
quiry into the rate question was a sur
prise and had a chilling influence. Pre-
larations for further suits in State courts
against the Northern Securities Com
pany were to be reckoned with. The tes-
,timony of the principals in the great
contest for control of Northwestern
railroads, which is being taken in
legal contest is read with great attention
in Wall Street and not with altogether
reassuring effect of sentiment.
There was a slump of more than seven
points in Evansville and Terre Haute.
The advance was renewed in Colorado
Fuel after some early heaviness and the
stock gained Ia, allowing for divi-
dend off. North American made a fur
Their upward dash and late in the day
the Kansas City and Southern stocks
and the Minneapolis, St Paul and Sault
Ste Marie stocks worked upwards with
out explanation. These gains. were the
exception to the rule which was Oh the
side of losses. Amalgamated Copper was
supported in face of the postpOnement
of Anaconda dividend meeting and closed
with a small gain
There was heavy selling of the Wa
bash debenture B bonds with loss of
/ Is per cent Otherwise bonds were
irregular. Total sales (par valueJ ST.
35O,00
United States bonds were all unchang-
ed on the last call.
Total sales for the day 554.4 400 shares,
including Atchison, 6100; Chicago, In
3dianapolis and ST. Louis, $500; Rock
Island, $500: Louisville and Nashville,
14,0OO; Manhattan, 20, 700; Pennsylvania,
II, 100; Reading, 42,7OO; do second pre-
ferred, 23,4O0; St. Paul, 26,S0O; Southern
Pacific, 1O,400; Union Pacific, $780,
Amalgamatcd Copper, 26,5OO; Anaconda
Mining. $500: Colorado Fuel and Iron,
40 400; North American, 11,400; Sugar.
10000; Tennessee Coal and Iron, 10000:
Leather. 12,55O; United States Steel 49,
500; do preferred, II 300.