The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-07-18

derbilts. An attempt was made to bring
the speculation back into the high priced
Western railroads but 1t will be observed
that the desire to take profits on the
considerable advance which those stocks
have had was still too eager to allow
much upward progress. The United States
Steel stocks renewed the struggle to adj
vance, but again met heavy sales at
every stage. Some of yesterdays con-
spicuous low priced stocks were acutely
affected by profit taking. This was no.
tably true of the Chicago and Alton
stocks The evidence of profit taking in
| these and the sudden relapse of over
two points in Colorado Fuel after a four
point advance had a decidedly chilling
effect and put a sudden stop to the ac-
tiVity of the market, leaving it at a level
which fairly averaged below last night.
The opening advance in Colorado and
Southern and Kansas City Southern was
attributed to the same forces as was the
Chicago and Alton movement yesterday.
These movements are supposed to signal
| ize the return of the Western contingent
from the corn to the stock market The
tone of doubt and hesitation shown in
the market for the July corn option at
Chicago was taken as a warning for pos
sible speculative surprises. The check
thus brought about to the animation of
the market was changed again by the
heavy demand developed for the Read
ing stocks and the Coalers This de-
mand was undoubtedly based upon the
assumption that the coal miners con-
vention will decide against general
strike. Late in the day Chesapeake and
Ohio renewed its strong advance to the
extent of 2B but without checking the
selling to realize at other points and
making the closing irregular Although
there was supposed to have been an ex-
tensive speculation upon the unknown
chances of the Amalgamated dividend.
the declaration at the unchanged rate
failed to arouse that stock from the
torpor IN which it rested all day. To-
days activity evidently represented the
prosecution of a regular campaign for a
rise, which was based today upon the
absence of any unfavorable factors rather
than upon any new developments favor
ing higher prices. Call money rates
worked easier today and there was a
diminution of the pressure from the in
terror for currency. Sterling Exchange
maintained its firm tone and time loan
rates are strongly held. The comptrol-
lers call for statement of condition of
national banks as of yesterday marks an
event for which the recent extra demand
for cash from the interior has been pre-
pared. 1t was subject of remark that
the required date of condition was I'M
usually near to the date of the call, in
dicating a purpose to ascertain condi-
tions as nearly as possible of even date.
There was some question whether this
new departure does not conceal a strata !
gem designed to increase the trustworthi-
ness of the showing
Bonds were active and firm. Total
sales (par value) $4,031 900.
United States refunding 2's and the old
As declined Is per cent on the last
call.
The total sales of stocks today were
1,124. 600 shares, including the following
Atchison $4,000; Atchison preferred 49, !
200; Baltimore and Ohio 1850; Chesa |
peake and Ohio 800; Chicago and Al |
ton 1920; Chicago and Great Western |
Il 100; Colorado Southern 1S400; Colorado
Southern second preferred $4,000; Della |
ware and Hudson 5000; Erie 16,6e0; Eric |
first preferred 5,400; Manhattan 21,300 |
Metropolitan Railway 5000; Mexican
Central $500; National Railway of Mex
leo 6,4G0 Missouri Pacific $4,000; Mis-
souri,, Kansas and Texas II 900: Missouri, |
Kansas and Texas preferred 1880; New
York Central IS, 900 Norfolk and Western
c0,1OO; Ontario and Western q, 800;
Pennsylvania $4,000; Reading $1,000 |
Reading first preferred 1900; Reading
second preferred 1900; st. Paul 14.1G0; |
St. Louis Southwestern 500; Southern
Pacific 10000; Southern Railway 26,900; |
Texas and Pacific $4,000; Union Pacific
80 100; Wabash $500; Wabash preferred
20 800; Wisconsin Central $500; Amalga
mated Copper 1000; Brooklyn Transit
30 ZOO; Colorado Fuel 23,6Oo Tennessee
Coal 6,4C0; U. S. Steel SO, $40; U. S. Steel
preferred 24,7OO; Kansas City Southern
1O. 400.