The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-17
And Closed with Prices on a Rapidly
BONDS STRONG AND ACTIVE.
The Failure OF Early Efforts TO Boost
Prices or stocks C,us,.fl IJncnsi-

NEW YORK, April 16.-The stock mar
ket, after making an Indifferent struggle
all day against the forces of depression:
yielded ali around in the last hour, AND
closed under severe pressure, and with
prices on rapidly descending scale
transactions We're large all day, and the
railroad list made a considerable snow o.
strength in the opening dealings, buc
there was heavy selling in the iron and
steel stocks. But some of the railroad
stocks We're bid up confidently in the face
of violent declines in this group.
Missouri Pacific was bIoYant, and car
ried The whole the southwestern group
with It This stock went to 61Ss, and It's
influence promised at one time to over.
come the reactionary forces, but 1t fell
suddenly to Thursdays level. and the
whole list fell heaSily in sympathy NO
definite news was Forthcoming to account
for the weakness of the Iron and steer
shares beyond the assertion that the large
selling was for account of important IN.
side interests. Wall street Is yconndehl
that the selling orders in these STOCKS
come from Chicai,o and the west, anu
LIQUIDATION in Union Pacific ana otnef
western railroad stocks is attributed 10
ne same interests for the PURPOSE OF
protecting their holdings in the steel
stocks.
Union Pacific was the first railroad
stocks to show acute sympathy with the
decentralization in the metal stocks. Late
in the day q rumor took form that 1herc
was to be extensive shutting down Oh
the ground of oyerproducion, In anncl-
patton of business during the early part
of this year which had not materiallzed
American Steel and Wire and fe ,issi.,
and weakness. At the extreme declines
in the group were Tennessee Coal and
Iron 8: Steel and Wire. Sc: Federal
Steel IA: American Hoop. "a.
There wer few railroad stocks BESIDE
the southwestern group which made q
stand against the weakness, but the ma
jority of railroad stocks closed at from
] 10 points under Thursdays last
prices There was general feeling that
the advance in prices on the strength OF
the general outlook had about reached us
limit The, failure of the carly eilorls
to-day to get prices up caused d1sap-
pointment and uneasiness, and when
prices began to crumble large speculative
holdings We're thrown over.
The absence of Initiative IRON the Lon,
don Exchange which was closed, deprived
the market of a usual sustaining force
The course of the money market in Lon
don and Berlin gives little prospects OF
support for American securities there ana
causes some uneasiness for the future
of the market throughout the financial
/. world.
The bond market was active. and
showed marked strength, which Welded
only slightly to the slight depressing in
fuences. Total sales, par value, S2,SSo.-
600 United States new As advanced IS,
but the Us registered declined u and the
SIS registered Is in the bid price
MONEY AND NEUTRALITY-SUSPICIOUS. on
call steady at 3@4 per cent; last loan at
i per cent: prime mercantile paper, 4Aao
rer cent Sterling exchange steady. with
actual business in bankers bills at S4.Sl1.
for demand and at 81 .S32l for sixty days:
posted rates, S4.S41aG4.SSls; commercial
bills, S4.S3d4. S4 Silver certificates. GO12D
Gllk; bar silver. 5a1a; Mexican dollars.
AK. Government bonds irregular; State
bonds firm; railroad bonds firm.