The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-03-09
New York stock.

Wall Street, New York March g.
SIOCkS-The crumbling Of prices in the
closing of dealings of Saturdays stock
market and the announcement of the fail
ure of mercantile house after the close,
market this morning The London quota
tiOns were eagerly scanned to find any in
dication of the probable course of the mar
kel- Inc moderate tan Ia prices OF Amer
leans served 10 reassure sentiment here
somewhat. The interval elapsed since
Saturday was to the advantage of the
market by affording time to learn exact
details and thus avoid the danger of exag-
gerated rrmors The first quotation on
the tape was Manhattan which was lifted
"a points in the course of several transac-
tions. but subsequent quotations of vari-
GUS stocks showed some wide declines and
neavy offerings The losses ran from ! to
I3s points in Pennsylvania, Missouri Pa
cihc, Norfolk and Western. Rock Island
southern Railway, Erie. Texas and Paci-
iic and Terminal On the other hand the
appearance on the tape of Union Pacific
Southern Pacific and St. Paul showed pow
erful support for those stocks. Two blocks
of 900 shares of Union Pacific sold at an
advance Of q point. Southern Pacific was
market was extremely feverish after the
opening Some stocks recovered and there
were reactions at other points.
The market quotations showed a feverish
ebb and flow. but steadied and became
quiet before the end OF the hour- The de-
cline was oDSunately contested IN num-
Der of stocks. At first the weak stocks
were inclined to rally and the strong stocks
to react, but the pressure was sensibly
relaxed after the accumulation of selling
orders over Sunday was worked off Some
severe declines were made by special
stocks. Colorado Fuel dropped SIS points,
1 Northwestern 312 points. Nashville, Chat
tanooga and st. Louis 3 points. New Jer-
sey Central and St Louis and San Fran
cisco % points and Kansas and Texas pre-
ferred 22s points. There were substantial
rallies of I to 10 points in some of these.
There were many losses of 1 to , points
on the decline.
The per cent call money rate disin-
clined the operators to follow the advance
and the market showed hesitancy- Before
noon Southern Pacific was lifted rs points
and Amalgamated Copper 2 point over
Saturday. and the market hardened in
/ sympathy. There was some wide declines
! IN the inactive list New York Air Brake
/ dropping 81 points, Wheeling and Lake
I Erie first preferred AS points North Amer
1 lean 4sz points. Sloss-S Sheffield and Peoria
/ and Eastern 4 points Nirginia-Carolina
/ Chemical preferred 81 points, Lake Erie
and Western points and New York. Chi
i cago and St. Louis 2ss points. Commercial
Gable sold at advance Of points
Bonds were weak
Slight reactions occurred here and there,
/ but the main tendency was distinctly Up
ward led by Southern Pacific with an
I urgent demand from the shorts. Prices
+ quite generally got back to 2 parity will
/ Saturdays close and in some instances
! notably above. Southern Pacific touched
I 62ss. a rise of 35s points and Union Paci-
j hc advanced 2ls points. while Atchison. St.
/ Paul, the Rock Islands Illinois Central.
/ Reading Manhattan. Amalgamated Ccp-
per and Sugar gained in the neighborhoad
The rapidity of the rise in the Paeihcz