The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-27
STOCK PANIC OVER
FINAL PRICES IN NEW YORK WE'RE
THE BEST FOR THE
DAY.
NET LOSSES OF FRACTIONS.
THE MARKET OPENED WITH A
DOWNWARD RUSH ON FREE
SELLING.
PRICES OF SHARES SOON sTEADIED
Vanderbilts the Leaders in the Re
cOvery That Became General
Before the Close.
NET LOSSES OF FRACTIONS
PRICES OF SHARES SOON sTEADIED

NEW YORK, March 26.-Today's market
opened with downward rush, which seemed
to indicate that the selling movement, in
duced by the supreme court decision in the
Trans Missouri case, had taken a fresh
start. 1t was not long however, before
prices steadied somewhat, though the market
sank into dullness and there was little inquiry
for railroad shares generally. The general
tone of alarm over the apprehended disastrous
results of the breaking up the passenger and
freight associations has clearly subsidized
as it is seen that the disruption of the West
ern organizations has not been followed by
a cutting of rates. Nevertheless, the roads
which were first to withdraw from the
sociations have been compelled to bear the
brunt of the selling movement and have shown
least recovery. This was manifest in the
case of the grangers. The opening also showed
the Vanderbilt roads notably weak, but they
were early on the road to recovery. The in
dustrials also showed marked heaviness and
Jagged in the recovery, some of them failing
to rally. Some general effect was probably
exerted upon these, by proceedings in con-
gress, where antitrust amendments to the
tariff bill were the occasion of much oratory.
There were special causes at work in special
cases also. Sugar was weak on a reported
project for new refinery in Brooklyn, in OPP
position to the American company. General
Electric fell off on a belief that the trade
outlook is unfavorable and that the forthcom-
ing annual report will be bad. The losses
were as follows in the principal instances:
Sugar, ~; General Electric 2; Rubber pre-
ferred, 1; Cleveland, Cincinnati Chicago &
st. Louis, |; New York Central, IA Omaha,
l; Burlington, 49, Rock Island, 1%
There was a period of unsteady fiuctua-
tons in the market before an Improvement
was inaugurated by the good inquiry for New
York Central and Omaha, which showed
some resumption of the strength that char
acterized them before the Trans Missouri
decision broke the market The advance be-
came general in the railways and continued
during the remainder of the day. the Closing
Delng at the best figures in the majority Of
shares The industriaIs for the most part
made good recoveries. Tobacco was an ex-
eceeptlon, the price falling ~ on heavy sales.
Minnesota Iron advanced Az. Although the
hnal prices were generally the best, they
showed net losses of a fraction from last
night.
The bond market displayed considerable
lrreguiarIty on moderate dealings. Sales
grace mortgages which were in a measure
onset by the revived investment inquiry for
standard properties. Sales were 81 1872 900
Governments were quiet, but stiffened appre-
c-ably on a renewed investment demand
Sales, SIC 600. The total sales of stocks TO-DAY
were 2O6O56 shares, including: Tobacco 10 700:
Sugar, 3S,40O; b. & O.. %, AGO; Chicago Gas
1900; L. 4 N, $500; New York Ceatra,
SlOo Omaha, 5000; Reading, 500; New Jer-
sey Central, $780,
The following were the fluctuations OF the
leading railway and industrial shares fur
nished by c. H. f. Smith & Co., members New
YORK stock exchange and Chicago board of
trade