The times., 1897-03-27
The World of Business.
Yesterday in Wall street.


New York March 26.-There was re-
ncwea tlepression at the Stock Exchange
TODAY. speculation having been dominated
by the decision recently rendered by the
Supreme Court in the Trans Missouri
Freight Association case and the SUM
mary disruption OF various Western lail-
wav pools since that. Many holders of
stocks were dishrartened by this condition
of affairs and sold out, with the result
of bringing about "A decline OF IL To
per cent The railways and industrials
suffered alike, the heaviest declines hav-
ing beenin the Changers, Kansas and Texas
preferred, New York Central, Big Four,
Sugar. Tobacco, General Electric and
Omaha
The downward movement WAS acceler-
atei by the execution of stop orders.
in the case of Sugar, which dropped
II-2 TO 10 81, the pressure TO sell
WAS due mainly To the definite announce
1neni that Claus Doscher, wealthy sugar
refiner. had decided TO build new re-
finery with a capacity OF 3,5oo 10 5,ooo
barrels per day. At the same time IL
was clearly iatimated by those interested
that the relations existing between them
ana the American Sugar Refining Company
are. TO say the least. somewhat strained.
During the afternoon supporting orders
appeared and a rally OF Ia to / o-e per
cent ensued. the improvement being aided
by more favorable traffic returns for the
third week of March. Toward the close
Tobacco broke suddenly to 81 3-4, max
ing the ret loss for the day IL per
cent. and other stocks reacted Is 10 rs
per cen, from the highest, the later in
Jersey Central
Among the specalties Minnesota Iron
jumped IL to AZ, While Erie first pre-
ferred fell / = to 80 1-2, Lake Erie and
Western = TO IA, and preferred Ia 70 SO.
The market closed about steady in tone.
Outside Of Tobacco, the net changes show
declines OF -4as-S per cent. Tobacco lost
. per cent, while Chicago Gas and Man
haitian gained l-Sa3-S per cent. The total
sales were only 202,Sl4 shares, against
236. 1872 shares yesterday, and 335,no0
shares on Wednesday.
The bond market was lower today.
The transactions aggregated SS66,0o
Atlantic and Pacific As. certs., feb i, to
81; Cincinnati. Indiana, st. Louis, and
Chicago Is. /. TO I0l; Erie General, Lien
3-4s. 1-2. to SO 1-2; Iowa Central first
bs, / to 90; Kansas p acific, Den. Division,
6s. ]. to / 6: Northern Pacific, terminal, 6s,
i. TO l09: Rio Grande Western first Is.
IA. TO Il l-2; st Louis and San Fran
cisco Is, 2 "a. to So, aud Standard Rope
and Twine 6s, IA. to 81 IA. Standard
Rope aud Twine incomes, however, rose ,,
70 10.
Lehigh and wnkesbarre Consol. Assented
as were heavy and sold at 80 l-2 against
B5 Yesterday, on sales Of $1,000.
In Government bonds, $4,000 coupon
Is. Of 1928, sold at l23 3-4al23 6-s, and
81. 600 coupon 5s at IL 4 IA.
There appeared in the street today sev-
eral of the original New York and Lake
Erie Railroad first mortgage bonds dated
at various times during lS4S and bearing
the signature of MiIlard Fillmore, comp
troller. The bonds were issued TO build
the road mile by mile and were sold at
public auction held in Hanover Square
They enjoy the distinction of being the
first American railroad bond that went
TO the European continent.