The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-03-27
New York stock.

Wall Street, New York. March III
STOCKS-A vigorous upward movement
resulted at the opening from the decision
Of the secretary of the treasury 10 resume
refunding operations The purchase Of
Loco shares of St Paul carried it up ~
points and Union Pacific rose IL points On
the transfer eff 500 shares The first sales
of New York Central in the Rock recovery
OF its ia per cent dividend which came off
today. There were gains of about point
also in Wabash preferred, Erie second pre-
iefred, Norfolk and W estern. Baltimore
and Ohio Canadian Pacific, AtchisOn and
Metropolitan Street Railway
The squirt in prices was Immediately
availed of to iiauldate and the market
turned abruptly downward Pennsylvania
and New ork Central before the brunt If
the selling and yielded 1ss points and "a
points respectively from the highest Other
stocks also wea kened decidedly the reac-
ton running to about point in St. PAU.
Canadian Pacific Amalgamated Copper,
Metropolitan Street Railway and Smelt-
ing st. Louis and san Francisco ad-
yanced ] point and Reading second pre-
feTFed points
The persistent selling of Pennsylvania
and New York Central depressed the
whole market. New York Central fell 13s
points and Pennsylvania IA points below
last night, Southern Pacific lost 12s points
ana Norfolk and Western point and
there was q decline of So points in New
Chattanooga and st. Louis, North Amert-
can, American Wooden preferred and
Pump advanced 1 TO Up points. Railroad
bonds were irregular at noon. The re-
funding offer of the secretary Of the treas
ury resulted in an advance of = point i'm
the bid price for the old As while the bid
for the IS registered was lowered 1 point
and for the coupon IL points
Room sentiment became very pessinlistic
on the absence Of support to New York
Central Bear traders offered it down
steadily i'm large blocks to 131 compared
with 1852 at the opening. Pennsyl ANA
showed more resistance and did not yield
much below 1873 Elsewhere losses were
pronounced, including points in south
ern Pacific. Delaware and Hudson and
transit
Paul. Canadian Pacific. Alton. Missouri
Pacific St Louis and San Francisco and
Manhattan. General Electric fell ia points
and Pittsburg- G. G. and St Louis -
points, while New Haven gained 81
points.
After a short period OF steadiness and a
rally Of point in New York Central an
other onslaught was made against the
market In this drive Pennsyl Vania vas
down to 13624-3ia points below the best New
York Central came back to 131, but met
support. Material losses were made in
various other stocks and the general level
was lower Northwestern broke g points.
St Paul 2iz points Consolidated Gas ~
points International Paper points and
Colorado Fuel Illinois Central. Lousvlll a.
Amalgamated Copper and Wheeling and
Lake Erie 1 to 1s4 points. BY O'clock the
pressure seemed to be over for the time
being and there were some rallies ranging
to over a point in New York Central
Covering by room shorts to take their
profits caused a I point rally in Pepnsylva-
MIA and St. Paul but the bears found 50
large a supply of stocks Offering hat tneg
renewed their attack and forced prices
ison were forced a point or more below last
night. Chesapeake and Ohio Canadian
Pacific and Sugar points, Southern Pa
cific points and St. Paul "A points. Sup
port was accorded New York Central and
PENNSYLVANIA a t the previous low level and
there were few quick rallies. St. Paul
/ rebOunded > points and New York Central
IA points The closing was feverish and
unsettled.