The times., 1897-03-28
The World of Business.
Wall Street Yesterday.


New York, March Speculation at
the Stock Exchange started off firm IN
tone, and the usually active issues rose
1-Sa3-4 per cent The rally faileu TO
stimulate commission-house buying, ana
before 1 O'Clock the bears resumed ag-
gressive tactics. They sold The western
railroads and Industrials vigorously, anu
finally succeeded in shaking out weakly
margined stock all along the line. The
heayiness of the market was due primarily
to the recent decision of the United states
Suprcme Court which has led to the with
drawai of fifteen roads from the western
Freight Association, and To the belief that
roads in other associations will take similar
action in the near future.
Statements credited TO certain Senators
and congressman that il will take fniiy
two months TO pass any legislation looking
to the relief of the roads also played
directly into the hands of those operating
for lower prices. Tue lndustriaS were ad-
versely influenced by the circulation OF
uufayorable rumors Tobacco broke on a
vague report that the next dividend VIII
be reduced. From all accounts the company
has been enjoying large business of late.
and the rumor is not generally credited
The directors are to meet on WedneS day
next Sugar was heavy, on statements
that the Doscher people viii go right
ahead with the construction of their new
refinery. and Leather was depressed Oh
rumors of los ses through unfortunate specu-
lations in the raw product. The decline in
prices ranged from IL to 2 IA per cent,
and every prominent stock on the list
Al
The important losses We're Reading nrst
preferred, IA To Al "a; Baltimore and
Ohio. Q Ia TO IL l-2. American Spirits
preferred, , Is to 90 1-2; Lake Shore
2 to l65; Colorado Fuel and Iron, Z 10 lo'
Kansas and Texas pl efcrred, 5-S to 20
Tobacco, IL TO 72 1-2; Omaha, "a
to 90 1-2; New York Central, i IA to
9s; Sugar, l IS to 101 "a; Burlington
and Quincy, / IA to Il; Chicago uaS,
IA to 81 IA; New Jersey Central,
] as to 50 3-S; Reading, / IA TO 2li
Leather preferred, "a TO 55 1-2; Northern
Pacific preferred, / is to 33 F-S, and
other leading stocks 1-2 To / per cent
| Baltimore and Ohio was unusually active
and depressed, on Baltimore statements
that the affairs of the company are APP
preaching a crisis.
| The bank statement had no influence
on speculation The features of the eN-
himt were an expansion in loans OF
| 81 ,S91 500. and decrease in deposits
| of S2.605,550. There was very little
cnange in the amount of cash ON hanh
| Surplus reserve increased SI26,1f5. ana
| the banks now hold SiS,S22, $50 iii excess
of legal requirements. Speculation closed
heavy. with prices at OF near the lowest
| figures of the week. Net changes show
losses of l.ia2 Ia per cent.
Total sales were 113,3s5 shares, In
! Guiding 19, 200 Sugar, 1900 Buning-
ton and Quincy, 1900 Tobacco, 11'4oo
| st. Paul. and 100 Leather preferred.
The bond market was weak. The SALES
footed up S563,ooo. General Electric
| deb. 5s fell / IA TO 80: International ana
| Great Northern 3dS, to 30; oregon I'M
| movement 1st 6s, certificates, /, TO 10
standard Rope and Twine 6s, I'd u
| Sc l-2: do. incomes, 1 to is; Tennessee
Coal and Iron. Birmingham division, b, u
16. In Government bonds $4,000 regis
tered Is of 1907 sold at III; 81 600 coU-
non 4e of 1925 at 123 1-2. and $1,000
4 IL