The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-03-15

some or the reports W4..eh have IN
spired the rise in special stocks owing
to the entire lack of authoritative
confirmation. The profit-taking of the
day was absorbed as usual and adj
vances renewed at many points Some
distrust continues to be expressed over
the extent of the advances and over
the reliability of the factors which
have caused them and the high level
of prices is regarded with apprehen-
sion in conservative quarters. One
striking evidence of this is the fact
that money brokers in London in con-
nection with the current stock market
settlement there hesitate to accept
American rails as collateral security
for large loans owing to their fears
that present prices are unstable. For
eign markets also are inclined to take
a depressing view today of the imme-
diate outlook for peace. The bonds of
both belligerent governments were af-
fected unfavorably by this prospect.
A growing influence in stock market
circles is the prospect for the enact
ment at Albany of tax on stock
transfers. The $50,000,000 bond issue
authorized by the Pennsylvania Rail-
road was just half as much as Specu-
lative rumor had pointed to and the
movement of the stock indicated that
this moderation was q disappointment
to the holders of the security. The
changes were still running on the
varying rumors of mergers. combine
tons and dividend increases, special
ly affecting the Vanderbilt group and
the transcontinental connections SUP
posed to be destined for the comhtn1-
ton. The Toledo St. Louis and Yes
tern was included in the scope of the
rumors. Smelling moved up again on
revival of lead merger reports. There
were extraordinary movements IN
some Of the closely held high-priced
stocks, Lackawanna rising on trivial
buying to 400. The Ontario and Wes-
tern movement was renewed strongly
in the late dealings without further
news developments and helped to
break the effect of the active profit
taking in progress which made the
closing regular National banks VIII
nav tomorrow the Is per cent INSTALL
ment of government deposits held by
them, thus completing the recent call,
but the money market was entirely
by this preparation.
Bonds were irregular. Total sales
(par value) $4,440.000.
United States bonds were all I'M
on call.
Total sales 1,391,400 shares. includ- |
ing-Atlantic Coast Line 500; Balti- |
more and Ohio 15,100 Canadian Pa
cific 1000; Chesapeake and Ohio
1890; Chicago and Alton 1900:
Chicago Great Western 10000; North
western 1,600; st Paul $4,000; Della
ware and Hudson 9.100; Erie $4,000:
Illinois Central $500; Kansas CityI
Southern preferred 6.200; Louisville
and Nashville $500; Mexican Central
300; Missouri Pacific 1920: New
York Central 114.600: Ontario and
Western ga, 400; Norfolk and Western
$500; Pennsylvania 104.4 400: Reading
1880; Rock Island 1900: st. Louis
preferred $500 South
ern Pacific 49.100: Southern Railway
10. 700; Southern Railway preferred
500; Toledo ST. Louis and Western
$500; Union Pacific 1876, 500; Amalga-
mated Copper S3.400; Car and Foun-
dry $500: Cotton Oil 2,100; Locomo-
tive $500; Smeltir $500; Brooklyn
Rapid Transit $4,000; Colorado Fuel
and Iron $4,000: Consolidated Gas
1000: Distilleries Securities $500: Ma
tional Lead $500: Peoples Gas 2S,600;
Tennessee Coal and Iron $4,000;
United States Steel 10000; United
States Steel preferred 21,600; Virginia
Carolina Chemical 500; Virginia-Caro-
lima Chemical preferred 800.