The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-20
DECLINES IN STOCKS
CLOSE FOR THE DAY WEAK AND
AT MATERIAL NET
LOSSES.
OFFERINGS ALL EXHAUSTED.
ON THE SLUMP THERE WAS NO AC-
TIVTTY IN THE MAR
KET.
COURSE OF PRICES IRREGULAR.
During the Early Part of the Session
the Tendency Was Toward
Higher Level.
COURSE OF PRICES IRREGULAR.

NEW YORK, March 19.-The sales Of stocks
today were less by over 100 900 shares than
they were yesterday. The bears succeeded in
their enterprise of effecting a general decline
in prices, but the offerings of stocks were
soon exhausted on the Decline and there was
no market to speak of. The course of prices
was extremely irregular all through the early
part of the day, but the tendency seemed
to be towards higher level the industrial
shares leading an advance. Sugar rose 11s
rather inexplicably, in view of the unfavor-
able results prophesied for the industry I'M
der the proposed tariff. Chicago Gas ad-
vanced and Rubber preferred, after an in
1ttal break Of IA, recovered the loss. The
railway shares also rose pretty uniformly
under continuance of the good buying of
the last few days. Depressed prices for
Americans in London and small sales for
foreign account of international shares did
not affect prices generally.
After midday, however, a reactionary ten
dency set in, which gathered force as the
day progressed and ultimately carried prices
to the lowest level of the day. The bears
chose for their attack, as they did yesterday
the anthracite coal shares and some Of the
industrials. The coalers were vulnerable to
attack owing to the depression in the trade,
and to the reports set in circulation that the
spring circular OF prices would announce a re-
duction. Rumors were also set ahoat that the
examination Of experts into the accounts OF
the Lehigh Valley was discovering an unsat-
tsfactory condition of affairs. There also
an apprehension that the dissolution of the
underwriting syndicate of the Reading reor-
ganization would throw large amounts of that
stock on the market. The news that the
board of governors of the stock exchange
had announced a termination of the contract
with the Gold and Stock exchange, which
supplies the ticker service, caused the recess
sion in the price of Western Union, which
controls the Gold and Stock company. The
loss in the price was ~ per cent. OF the
coalers New Jersey Central suffered most
falling 3ss per cent. The following shows the
range of the declines in some of the other
stocks: Northwestern, 19s; Chicago Gas, rs;
Omaha, ~; c., O.. G. st. L., 1B Con-
solidated Gas, IA; Delaware & Hudson, 1h
Manhattan, IN; Leather preferred, rs, and
Lead IA. 1t will be observed that the Van
derbit and Gould properties, which have been
conspicuously strong Of late, did not escape
the reactionary tendency of the market. I'm
favorable reports Of trade conditions caused
the fall in Leather preferred. The market
closed weak. and with very material losses
in many shares.
Bond values were irregular on moderate
dealings, but fairly good undertone was
apparent and striking gains we're registered
in some securities which have lacked effective
support Of late The market broadened APP
probably, and the active mortgages were
practically neglected. The sales were 1127,-
600. The more noteworthy changes were
Advances: Standard Rope incomes Ia, and
IS and Rock Island debenture 5s, IL per cent
Declnes: Toledo, Peoria & Western irsts
As; Chicago, St. Louis New Orleans IS,
15k per cent. Governments continue to display
a reactionary tendency. The sales were $26,-
900.
The total sales Of stocks today we're 1925
shares, including: Tobacco, 10000; Sugar. D.
200: burlington 800; Chicago Cas- q 700;
G., c., C. & St. Louis. $500; Manhattan,
$780, n Y Central, 320O Northwest $500;
Northern Pacific $500; do pfd $500; Omaha,
10000; Reading, $500: st. Paul, $500; West
ern Union, $500; N J. Central, 11,6OO
The following were the fluctuations Of the
leading railway and industrial shares, fur
nished by c. II. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade.