Omaha daily bee., 1897-04-04
STOCKS AND N
week Closes with a Movement to
II Cover Over Sunday

NEW YORK, April 3.-There was little of in
terest in today's short session of tae Stock ex-
change beyond the movemen to cover over Sun
day at the close, which was especially marked
in the coalers, indicating the large short selling
during the week In those stocks In the course
of the raids by bears to break the market
me opening was weak In response to the de-
clines in American securities on the landau ey-
change. The statement OF st. Paul earnings for
the fourth week in March, showing a decrease OF
$llSi5l, with one more working day, had a
further weakening effect on the market. There
was some selling to realize also. Losses were
only fractional, except for New Jersey Central,
preferred, which declined from / to rs per cent.
me covering movement I'm the coalers set in
were also in demand. the Improvement extending
through the list. Delaware & Hudson, New Jer.
sey Central. New York Central, Michigan Central
point and the general list important fractions
81. Paul and burlington sold of in the final
with slight net losses.
The week in Wall street has been marked by
condition Of Investors minds over the Trans
missouri decision. Monday marked the extreme
point of the depression caused by the incident.
The buying movement, which set In after that
day. scattered CONSERVATION among the bears.
The main cause Of the strength in the market
was the forcible assurance Of the authorities in
western railroads that they had no intention of
departing from the schedule of rates then in
force. The relief OF mind thus afforded was
added TO by the decision OF the conference OF
the different counsel OF the trunk lines that the
JOINT Traffic association should continue In oper-
alton pending the appeal of its case to the SUI
preme court. The Introduction In the senate OF
a measure TO ~iegaiize railroad pooling under the
supervision OF the Interstate IN commits
sion also had an exaggerated effect in encourage
Ing buying OF stocks. In the same way the sub
seqnent announcement OF Senator Cullom of the
committees on Interstate ommerc that there
was no chance for the bill to pass or be con-
sldered at this session added surprisingly to the
effectiveness OF the bear raid. which ultimately
broke the market again on Wednesday. The eff
fectiye instrument In achieving the break was
the anthracite coal group. The well known de-
precision which has long existed In the anthra-
cite coal trade and the persistent reports OF
financial weakness of the New Jersey Central's
related coal companies made these properties
Vulnerable. Rumors OF an expiration Of the traf-
he agreement among the companies, of heavy
damage TO mines by floods and Of a cut In the
selling price OF coal in Philadelphia 10 Is cents
below the circular prices sent the eoalers tum-
bling. New Jersey Central and Delaware a Hud-
son and the whole list falling in beaind with
losses large or small. On Wednesday New Jer-
sey Central touched ~, a decline from last
weeks closing OF 81 per cent and the lowest
point touched by the stock since 1883. On
Thursday Delaware q Hudson touched 99x. that
being the FIRST time the stock has gone below par
since 1857. The loss from last weeks close was
Tw per cent Laekswanna,s loss Was 81 per