The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-30
SHARP STOCK FALh
TRADING FOR THE WEEK OPENED
WITH A vERITABLE DOWN.
WARD RUSH.
RECOVERY AFTER MIDDAY.
IN THE SLUMP LARGE BLOCKS OF
LONG STOCK CAME
OUT.
SHARE LIST UNDER PRESSURE.
Low Priced Securities a Figure in
the Selling MOvement-GouIds
Especially Suffering.

NEW YORK, March 29.-The week opened
with continuance of the downward move
ment of prices which has been in evidence
since last Tuesday, when the decision in the
Trans-Missouri case first Influenced the trad
Ing on the exchange. The same influence was
still powerfully at work, and the apprehen-
sions Of security holders regarding it's effects
were intensified by the news of rate reduc-
tons by the Missouri Pacific and ST. Paul
after their withdrawal from traffic associa-
lions. The exceedingly uncertain tenure of
confidence manifested in the prices on the
London exchange was also reflected here,
especially at the opening and the trading
began with veritable rush downward of
prices. The low level thus quickly reached
invited covering, and prices recovered some
what, but were soon tending downward again.
Stop orders were uncovered by the constant
fall In values, and very large holdings of
many stocks were thrown over. The lowest
point was reached in the morning hour, and,
after noon, struggling improvement set in
which resulted in partial recovery in many
stocks. The days transactions were large,
especially on the morning declines, and there
were heavy dealings for professional ac-
count, but large amounts of long stock also
came out. The outside buying movement,
which was started by the Lake Shore refund
ing bond issue and the accompanying pur-
chase of Vanderbilt properties for inside in
terests, has been entirely suspended.
The Vanderbilts scored sharp losses today.
though the sales were not large. Canada
Southern lost S1s, Northwest Pa Lake Shore
2 New York Central IA, Omaha l, c., c..
7. ST. L. l, and Chesapeake & Ohio a.
Lake Shore recovered ~ and New York Cen
trail l. Michigan Central sold at SO, against
SO for the last previous sale though 1t had
In the meantime been bid down by steps.
The low-priced shares cut quite a figure in
the selling, the Goulds particularly. Missouri
Pacific broke 3A points on reports that that
road had cut the rate of freight on eggs. but
recovered Ia on substantial denial The
price at the decline was 14h. the lowest on
record. Wabash preferred lost ~, showing a
decrease in surplus of $125,O OO The inter
national stocks all displayed weakness in
sympathy with London, Erie first preferred
losing 3, do second preferred ia, l.. G. NJ
1as and Southern preferred IL. The grang-
ers suffered from the general depression.
ROCK Island lost 2h and St. Paul and Bur
hngton each 49, Burlington alone of the
group rallied to the extent of a point on the
favorable showing of the February state
ment, with Its increase of surplus earnings
OF nearly $500 600. The industrials were near
ly all more or less under pressure or manip-
uiatlon by the bears, Sugar Tobacco BAY
State Gas, Chicago Gas, General Electric.
American Spirits, Rubber, both common and
preferred, and Cotton Oil losing from l to
points. Consolidated Gas lost 3 and American
Spirits preferred 213, Chicago Gas IL and
Spirits common l. The coalers were quite
notably steady and strong on account of their
relatively favorable situation as regards traf-
nc agreements, the harmonious financial in
terests which control making agreements I'M
necessary. New Jersey Central and Lacka-
wanna were two of the exceptional stocks
which showed net gains of the day, though
they were only fractional
The bond market participated in the depres-
sion Which was apparent in the share market
and values of the more prominent speculative
issues yielded 1q1h per cent on liberal offer
ings. The sales were 81, 604, 000 Governments
were neglected at the board but bid prices
were quite firm, and transactions were re-
ported over the counter at a higher range.
The total sales of stocks today were al
$50 shares, including: Tobacco, 10, 100; Sugar,
$780, Burlington, As. 600; Chicago Gas 20 500;
General Electric, 3,400; L. & N, $500; Mis-
souri, Pacific, $1,000; New York Central $500;
Northwest $500; Northern Pacific preferred,
5,400; Omaha, 1900; Reading 16 400; Rock
Island, 10 400; st. Paul. 81, 600; Tennessee Coal
and Iron, $500; Wabash preferred 26O:
Southern preferred, 5000; New Jersey Cen
trail, 10000.
The following were the fluctuations OF the
leading railway and industrial shares fur
nished by G. H. F. Smith & Co., members New
York stock exchange and Chicago board of
trade.