The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-08-21
STOCKS AND BONDS.

new DIX, aug. zO.-I quay MAJ ~
was broader and more active than that
of yesterday and was generally strong,
but the strength was very unevenly d.
vided and was not consistently main
tanned. The hand of the professional was
quite manifest in the market. After one
group of stocks had been pushed up 10
a certain extent they would meet selling
orders to realize in the moment that ag-
gressiVo appearance of strength was de-
Veloping in some new quarters, thus en-
couraging continued buying by outside
spectators in the stocks already ad-
vauced and thus facilitating the realiz-
ing. 1t was distinctly a Morgan market.
That is to say the buying of stocks was
based upon the assumption that Mr..
Morgan has returned to Wall Street
ready to take up the broken continuity
of many important projects which he had
under way when he left for his vacation.
Some Of these projects have gone into a
snarl, legal, financial or speculative.
Professional spectators in the street
have an abiding faith that Mr.. Morgan
will promptly settle them all His i'm
mediate appearance at his office, going
directly there from the steamship, gave
additional strength to this conviction
that he would give immediate attention
to pressing problems. 1t is needles to
say, however, that some of the eXpec-
tations expressed by the active specu-
lators in the market as to the scope and
the promptitude of Mr.. Morgans meas
ures reached degree of absurdity. The
undeniably strengthening effect upon
confidence of this capitalists return to
active direction of affair was promptly
taken advantage of by various specula
tive pools to make demonstration in their
favorte stocks by rapidly advancing
prices. distinctly easier tone to the
money market facilitated the operation
for the advance. The ruling rate for call
loans was per cent. as against Az per
cent. yesterday and the market for time
loans was also called easier. The foreign
exchange market naturally hardened in
consequence. Continued selling of
stocks for London account was also a
factor in the demand for exchange. I'm
favorable crop weather, the futility of
the coal conference to effect a strike set
Element and the violent break in Colora-
do Fuel on account of the internal con-
fiict in the company were ignored in the
trading. The special strength of some
Colorado Railroad stocks was supposed
to be connected with the liquidation of
Colorado Fuel. Recent rumors of
merger of Southern Railroads of Ca
madam Pacific's alleged intention to Sc
cure an entrance to Chicago and of a
prospective absorption by large rail-
road systems of sundry small systems
were all manifest influences in the mar
ket. Profit taking was general during
the last half hour and the closing
was active and irregular.
Bonds were generally firm. Total
sales (par value) 81. 100000.
United States bonds were all unchang-
ed on the last call
Total sales of stocks today were 1884,
700 shares, including Atchison, $500;
Canadian Pacific, 27,40O; Baltimore and
Ohio, 5,400; Chicago and Great West
ern, $4,000; Colorado Southern, 7,400;
Denver and Rio Grande. 44,900: do pre-
ferred, II 800; Colorado Southern second
5000; Erie, 80, 900; do first pre-
ferred, 300; Illinois Central, 5,400; Iowa
Central, $500; Louisville and NASHVILLE,
1900; Mexican Central. $500; National
Railroad of Mexico, 5,400; Missouri Pa
cific, II ,900 Missouri, Kansas and Texas,
s 000; do preferred, $500; Norfolk and
Western, 14,S00; Ontario and Western,
100; Pennsylvania, $500; Reading, TO-
500; do second preferred, 5000; St. Louis
Southwest preferred, $500; st. Paul,
200; Southern Pacific, 42,200; Southern
Railway, $1,000; Texas and Pacific, 81,
500; Union Pacific, 10000; Wabash 5000;
do preferred, II 500; Wisconsin Central,
10, 400; do preferred, 1900; Colorado
uel and Iron, $4,000: Pressed Steel Car.
3 200; Republic Steel, II, 300; Tennessee
Coal, 1900 United States Steel, 51,S00;
do preferred, 100; Western Union, 20
300; *. C. Southern. 10000.