The daily morning journal and courier., 1900-03-03
E tllNuCEAl.
THE SYOCK M .IHhEI.
Fails to show strength and Yields to
 Pressure.


 l Pressure.
 | New York. March 3-The stock mar ket failed to show any positive strength at any time during the day and in the late dealings the whole list yielded to | bear pressure on the news of the threatening aspect of affairs amongst | the metal workers in Chicago. The weakness of the iron and steel stocks yesterday which was due to large sell l ing orders on Chicago account, was thus explained, The bears were busy in this group of stocks all day, and supple mented the news of the later troubles with many vague rumorS of purpose to defer dividends which have hitherto been foretold on more or less reliable authority. Reports were circulated also of enormous rival combinations to be organized to compete in this industry As the result of this pressure the ma jorlty of the stocks in the group were depressed from . IA to ] points The character of much of the selling was made obvious by the sharp rallies on bear covering, American Hoop. Tennes- see Coal and National Steel recovering from ? to 8 points at different times. Sugar was subjected to heavy selling all day, Which was without other eX- pIanation than the continued doubt over the dividend prospects, but which was attributed to a new bear account. The stock broke to below par for the first time since the summer depression of 1896 and fell to 96 5-S rallying fever
 shly and closing unsteady at net loss of IA Third Avenue suffered from additional liquidation incident to fears of a heavy assessment on the stock and fell 3-4 to a level almost 200 points be- low the high price of February last year. The stock rallied sharply and was well supported during the latter part of the day. Peoples Gas. was raid ed on the report of projected proceed ings against the legality of the com binator. Consolidated Gas was forced down 9 points on light transactions. Pullman, Sugar preferred, Tobacco and Metropolitan Street Railway suffered to the extent of to 1-2. The railroad stocks yielded unwilingly until the late raid on the market, when large blocks were thrown over, St. Paul leading the decline with drop of points. Bal timore and Ohio, New York Central and Southern Pacific were also notably af- fected The late rally on bear covering reduced the net losses of the railroads to fractions except in the cases men toned. There was disappointment that London did not respond with greater enthusiasm to the news of the relief of Ladysmth by buying stocks. The dis position there was to realize, and Lon don was small seller here. The pros pect of q heavy decline in surplus re- serves in the bank statement induced some selling, but the preliminary esti- mates of the cash movement by ex- press indicate small net gain on the interior movement This is attributed to shipments by interior banks to New York for the purpose of buying govern ment bonds. But the gain on this ac- count is quite insignificant compared with the weeks losses by the banks to the sub-t treasury, which have mounted to $7,49S 900, thus making inevitable further decline of several millions in the surplus reserves of the banks.
 The bond market was rather dull and prices yielded in sympathy with stocks. Total sales, parvalue, $l,035, ,000
 United States fives declined IA in the bid price.
 NEH YORK STOCK MARKET. Opening, Highest, ALOwrn Quotations On the New York Stock Exchange. reported
 by Prince X Whtely. Brokers, 15 Center
 Street, New Haven.
 Open. Eigb Low. Last.