The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-01-11
STOCKS AND BONDS.

New York, Jan. TO- The condition Of
neglect and professionalism into which
the stock market is falling became more
evident today not only in the smaller
volume of the trading, but in the eccen-
trio fluctuations of prices. The net
change sin the majority of the list will
be found narrow, but the days range was
considerable and the changes constant
and various. The rule OF operation has
fallen back to the professional room trad
ers' basis of selling on advances and
buying on slight recessions. The specu-
lation continued quite active in Sugar and
Manhattan, but even in these the char
acteristics were professional. In Sugar
attempts were made to lift the stock
on the assumption that Cuban duties
would be RENTED. Manhattan was af-
fected by realizing, but was lifted at one
time point over yesterday. Generally
speaking the characteristic of the mar
ket was dullness, due to the lack of out
side interest and the discontinuance Of OPP
crations by the larger speculative in
tcrest. The tone leaned towards de-
preston, as the lack of demand made the
market vulnerable to even light selling
pressure. The abandonment of the bull
campaign in United States Steel and the
desire to await a better defined status
for the Northern Securities Company We're
general considerations detrRcting from
speculative interest. The announcement
of the suspension of trust and savings
institution in Cleveland was regarded as
an episode, unimportant in it's immediate
results but which has a rather sinister
Significance in it's possible Interior bear
iEgs The suspension was associated in
the Wall Street mind with the difficulties
of the Everett Moore Syndicate which
have been a rather depressing circum-
stance in the Wall Street background for
some time past. The feeling in favor Of
conservatism N the extension of both
credits and speculative ventures was
strengthened by this event. There has
been all extensive speculation in Della
ware and Hudson on a confident assump-
tion that the dividend on the stock was
to be increased This assumption was
strengthened by the action of the New
Jersey Central directors in jumping their
dividend rate from TO per cent. The
action Of the Delaware and Hudson direc-
tors today in limiting the dlstrlpution
OF last years profits to seven per cent
TO De Q1SDurSeQ quarterly, was 1hoi 0hoiN
keen disappointment, as it represented
no better return than that OF last year
The stock was sold heavily, causing
break of six points, with an influence on
the whole market. The unchanged divi-
lend on Louisville and Nashville was
also a disappointment though in much
less degree. The market failed entirely
to respond to the promise of a favorable
bank statement tomorrow.
The bond market was dull and rather
irregular. Total sales (par value) 81
$4,000.
United States bonds were all unchanged
on the last call.
Total sales for the day were 56S,4O(
shares. including the following: Atchi-
sen 4O,7O0; Atchison preferred 1880
Delaware and Hudson 10, 700; Erie 49,
500: Manhattan 3S,S00 Missouri Pacific
$500; New York Central $500; Pennsyl
vania s,4O0 Reading $4,000; Reading Sec
ond preferred 1860: St. Louis and Sar
Francisco 800; ST. Paul 25,4O0; Southern