The age-herald., 1901-03-21
SELLING ORDERS
 TOOK THE MARKET The Alarmed Holders Eagerly
 Unloaded Their Stocks MARKET WAS SIMPLY TIRED When 6uIIs Finally Closed Their Ef- forts to Check the Decline, Prices
 crumbIed Rapidly and Stop
 Orders Were DisIodged.
MARKET WAS SIMPLY TIRED

New York. March 20.--The market was overwhelmed with selling orders during the course of today'S trading and the phenomenon occurred of an eager unload- ing of stocks by alarmed holders with out any bad news bearing on the value of their property to alarm them The bull leaders attempted for a time to con test the decline and to divert the specu- lation into new chanels. But the market was obviously tired and responded langu- Idly to the manipulation for the advance
 Yesterdays heavy profit-taking brought selling orders through commission houses and the bears detecting the strained con ditons In the market, put out larger short lines. When the bulls finally ceased their efforts to check the decline, prices crum- bled rapidly and stop loss orders were dislodged on large scale. With only few exceptions prices fell well below last night. Profit-taklng by the bears caused a considerable rally in the last hour so that last prices were not the lowest, al- though proft-taking was renewed on the advance. making the closing tone irregu- lar
 The taking of speculative prifts in Bur lington was on an enormous scale There was determined support in the stock mar ket at the opening but the utmost that could be secured for it was a half point advance. The opening price was the highest and 1t was steadily under pres- ure for the rest of tho day except TOT the covering movement by the shorts The contest for change of control Of th's road seems to have been ineffectual, the competitive buying of insiders, Which carried the price to yesterdays high level having defeated the attempt Yet the record transactions in the stock within few days past have been much moro than would be sufficient to change tho control. The highly speculative charac- ter of the dealings is thus clearly lnol- cated.
 An effort was made to substitute ST. Paul and Northern Pacific as market leaders, and Missouri Pacific was marx ed up very buoyantly to lsA. crossing par for the first tixss in nlE-IT yeASt- Tfst% was a strong upward movement in BrooK- lyn Transit on rumors of official changes and on buying of the same character Tn Manhattan. The steel stocks all contin- ued strong the dealings being mostly III the truuSL ceTLlHCdteS lOI uoPOoAISN osoSAA' as the time for deposit expired today As the success of the plan was obviously assured, there was final rush to deposit stocks, so that the clerical difficulties or the transfer make 1t probable thst de- layed deposits will be leniently treated. The preferred stocks showed greater strength, the gains extending to IA Mem- bers of the group recovered immediately with the rest of the market, but resisted somewhat.
 The profits of the steel trust are ap- parently to accrue in the shape of allot- ments of the new stocks, for which strong market will inurc to the benefit of the syndicate There was no actual bad news to account for the reaction of prices beyond the continued possibility of coal miners strike, the international irritation over the situation in China and the pro- longatian of the South African war.
 Sterling exchange was called firm dur ing the day in response to high money rates in London There was no disturb ance in the local money market, notwith- standing the days payment on account of subscriptions to the new Union Pacific bond issues, calling for $10000,000.
 There was a further decline in the ac- tivity of the railroad bond market and the price movement continued irregular. Total sales, par value, s5, 190,000.
 U. s. 3s advanced x and the new 4s and old As b per cent. on the last call.
 New York Stock Market.
 By Private Wire to Murphy 6 Co.,