The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-09

Smelling and Copper. New high records
were again the order of the day, st.
Paul. Minneapolis, st. Paul and Sault
Ste Marie, Pacific Coast, common. and
the second preferred, American Car and
Foundry, Pressed Steel Car. preferred,
Republic Iron and Steel, common and
preferred, Cast Iron Pipe and Railway
Steel Springs selling higher than at any
previous time. In the outside market
heavy dealing in Northern Securities adj
vanced that stock to 1875. a new high
record, and there S1as considerable ac-
tivity in the Rock Island issues. Recess
sions of the early market were clearly
due to profit taking, no less than to APP
prehension over the monetary outlook,
but from start to close the market main
tanned a firm undertone. Reference has
already been made to the dominance of
the speculative element in today's trans
actions, and it is fact that commission
houses report little increase of invest
ment or public buying. No less true,
however, is it that much of the days
buying came from strong quarters, Mis-
souri, Pacific and st. Paul, for instance,
being bought in large blocks by brokers,
who were said to represent the so-called
Standard Oil interests Western advices
reiterating promises of bumper crops in
Missouri and Kansas, are supposed to
have stimulated the buying of the rail-
way stocks of that territory. London
traded moderately in the market, selling
about 5000 shares on balance out of a
total of $4,000 shares. significant fea-
ture was the unusually heavy demand for
stocks in the loan crowd, especially
Union Pacific, for immediate delivery.
Rumors of the purchase of Detroit South
ern and Pere Marquette by Pennsylvania
interests were confirmable. Further in
dications of the disintegration of the
soft coal strike were at hand, but no
news bearing on the anthracite situa-
ton was heard.
The bond market was active and firm
with point rise in the Wabash Deb
enture BIS on enormous dealings There
was no news to account for the extraor-
binary activity in this issue, but the
opinion was expressed that it was in
the nature of a speculative movement
based upon the Strengthening of the sys-
tenn. Total sales of bonds (par value)
81 $50, 900.
United States old As declined x per
cent, and the new As registered adj
vanced " and the coupons IA per cent
on the last call.
The total sales of stocks for the day
were Oh, 100 shares, including the follow
ing: Atchison %, 800; Atchison, prefer
red S,400; Baltimore and Ohio 19,OOO
Chesapeake and Ohio 1900; Erie 81, 300;
Manhattan Elevated $500; Missouri Pa
cific 144,500; Missouri, Kansas and Texas
$500; Norfolk and Western II 500; New
York, Ontario and Western 80, 400: Penn
sylvania Railroad 20,7O0; Philadelphia
and Reading $780, Chicago, Milwaukee
and st. Paul q 800; Southern Pacific 49,
500; Southern Railway 1900; Texas and
Pacific $4,000; Union Pacific "a zoo; Wa
bash $780, Wabash, preferred $4,000;
Amalgamated Copper 0100; American
Smelling and Refining Is, 800 Brooklyn
Rapid Transit 1890; Pacific Coast $500;
Pressed Steel Car $500; Republic Iron
and Steel $4,000; American Sugar Refining
500; Tennessee Coal and Iron $500;
United States Steel Corporation $500;
Western Union $500.