The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-04-04
EtmanciaI.
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THE STOCK M A RK LET.
Federal Steel and Baltimore g. Ohio
Stocks Potent Fnctors.

| Federal Steel and Baltimore 81 Ohio
stocks Potent Tnotors.
| New York, April 5.-The two most
potent factors in to-day's stock market
were Federal Steel and the Baltimore
& Ohio stocks The pressure to liqui-
date the former had decidedly unset
Ting influence on the whole market in
the morning and the strength of the lat
ter stock served to stiffen prices in the
afternoon and to retrieve to large ex-
tent the earlier decline. The opening
in Federal Steel was wide and the price
was soon carried down to 40, drop of
3-S from yesterdays close. 1t rallied
2 points, but went off again in the last
fifteen minutes of the market to the
| lowest, developing renewed signs of
weakness in the rest of the list. The
selling of the stock was due to the prac-
tieal admission that the failure to
amend the charter yesterday at the an
nual meeting was equivalent to the
abandonment Of further dividend dis
| tributions this year, owing to legal OBJ
stacles. The aggressive strength in
Baltimore & Ohio developed after the
executive committee of the company
had convened. 1t was generally under
stood that this meeting would consider
the granting of additional rights to
stockholders. A new rumor found cir
culation about every five minutes as to
what the right would be, and the specu
lation in the stocks Of the company was
very active. The common stock touched
So 1-2 and the preferred IS and both re-
acted nearly points ON proft-taking,
helping to the easier tone in the close.
London was free seller in the early
dealings and hlped to the opening reac-
ton. While there were no very large
offerings brought out at the decline, the
demand for stocks was decidedly less
urgent than in the recent market and
when the dullness and firmness prompt
ed to an advance large offerings to real
lie were brought out when prices got
back to last nights level The market
gave evidence of the pressure of large
speculative holdings to realize, but hold
'ers evidently felt themselves strong
enough to withhold their offerings at
any considerable concession. Outside a
few stocks to-day's movement in prices
was narrow. There was considerable
strength in the grangers under the
leadership of st. Paul based on very
heavy grain movement now going over
the western lines. The trunk lines were
firm on the large east-bound shipment
besides the sympathetic effect of the
movement of the Baltimore & Ohio
stocks The rally from the low-point
reached point In a number of promi-
netn railroads, but the final easing off
left most of the days net changes small
and mixed between gains and losses.
Sugar was actively dealt in, but after
an early decline Of over point mounted
upwards points on the reported easing
in the price Of raw sugars. The price
eased off in the late decline, bringing
the net advance down to 1 IA. The
money market worked somewhat easier
to-day as the influence of the April dis
bursements is beginning to be felt.
There is no further apprehension In the
stock market on money market consid-
eratons
The bond market continued quite ac-
tive and changes In prices were mixed
Total sales, par value, S4,570000
United States threes coupon, new
fours and fives declined IA in the bid
price.