Evening star., 1897-03-24
The Antitrust Law Charged With
Decline in Values.
ADVICES FROM RAILWAY OFFICIALS
Bad Effect of the Floods in the
West.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. March 24-The faltering
tendency so conspicuous in the stock mar
ket during the last two days gave way to
decided weakness this morning Liquida-
ton of both speculative ard Investment
holdings especially noticeable during
the active periods. The opening level re-
fiected concessions varying from 4. to l per
cent. and from this point the decline eN-
tended to more substantial proportions
The granger shares were almost wholly
lacking in support. per cent declines he
ing recorded without significant opposi-
tion. The Industrial shares were CORE
spondingly weak under determined pres
sure.
The resurrection of the sherman anti
trust law long after its supposed death is
credited with the responsibility for the
setback in what promised TO ne a buoyant
market
That Mondays decision is filled with sig
nlicanct has naver been doubted by those
familiar with its tcNt IL was though,
however. that II org lniEltions lot already
indicted werc violating the spirit of jhe
law measures would oe adopted whereby
the Illegal operation would be discontinued.
Today advices from prominent railway
officials in the west were almost unanimous
in the determination to accept the decision
without question and rely upon the pas
sage of A pooling bill
The necessity for such A bill has l,ean In
creased two-fold since the beginning of
the week, but the prospects of its passae.
have not changed materially.
In view of the almost general admission
of the serious consequences of th,. revival
of what the corporations regarded as A for
gotten law. and the extreme doubt rs to
the passage of a pooling bill il is not un-
natural that today's decline should nave
occurred.
1t is possible, however that the decision
has been made a scapegoat to cover up the
natural weakness of a market advanced to
the run extent of the professional buying
power The pubic has come into the stua-
tion only so far as good management and
attractive funding schemes have proved an
attraction.
There are many less meritorious issues
which have been advanced only through
room operations. Whatever may hav, been
the incentive the leTel now established is
a more accurate rejection of actual condI-
tions ard should do more TO extend the
market along national lines than any Of the
recent eXpedents.
The idea that the passage Of a tariff
bill is a small undertaking once outside
pressure il brought TO bear upon il is less
generally entertained. 4 considerable
smount % confidence is shown in the posi-
bility of many profitable turns in boih
amounts before the pending bill becomes
a law.
The heavy rains ard foods in the wes;
have contributed to the general reaction n.
sentiment, ana IN some instances have d.
iagcd The usual weekly reports of earn. ngs
i'erfe2ses are 10 be expected wherever
such delays occur.
Prices rallied slightly during the final
hour on the covering OF short contra rs.
Practically all of the support came IRON
this source In New York Central an AZ
ceptioa may be noted. the buying On The
decline being superior 10 the selling. The
unanim.ty in the belief that a sista.,ai
advance was in progress has been &C.
Strored and traders ar. once NOR n ,r1s-
tion TO operate with their accustomed
holiness