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

Wall Street. New York. March g.
STOCKS Selling orders We're executed
prompted by the apparent abandonment Of
the Aldrich financial bill. The Pacifcs.
Changers. Southwesterns. Metropolitan
Street Railway, United States Steel pre-
ferred and other leading specialties were
the principal sufferers and showed losses
ranging up to nearly point. Manhattan
moved mp strongly IA points contrary to
the course of the market.
Supporting orders appeared in all the
leading stocks after the opening decline
and their execution. combined with the re-
sumption of yesterdays rise i'm Manhattan
created some uneasiness among the
around. Most of the opening losses were
cancelled and some leaders. such as Mis-
souri, Pacific, Southern Pacific and Metro
poitan Street Railway rallied to above
last night Free offerings of Rock Island
undermined the market later and there
was fresh selling of the Pacific and South
western stocks. Colorado Fuel showed eX-
ceptional weakness. dropping points
while Sugar, on the other hand, advanced
a point.
Selling for both accounts was on a large
scale during the second hour and the
downward tendency was accentuated by
the frmness of call money rates Al 4 per
cent. Bear traders offered down special
stocks in large blocks for effect on the
market and succeeded in forcing out con
siderable stock Losses of point or over
were well scattered throughout the list and
included st. Paul. AtchisOn. Rock Island.
New York Central. Union Pacific Wabash
preferred and 2 number of other important
rl0tkSs AddlIaAldl anu sugar DOtu lO~l
their early gain and the market touched
the lowest all around.
The bond market yielded slightly with
special weakness in Wabash debentures.
Further inrOads on prices were made all
through the list. especially i'm the standard
railroads and specialists The absence Of
support made the bears very aggressive
and stop loss orders were reached i'm some
stocks. The market received occasional
checks on the dOwngrade by spasmOdic
covering and fresh selling Immediately
brought about lower level than before.
Wheeling and Lake Erie first preferred
declined 494 points. Anaconda 3ia. ST. Louis
and san Francisco 27s and 3. and O., Del
aware and Hudson. Kansas and Texas
preferred. Consolidated Gas. North Amer
lean and Pacific Mail ? to % points.
The market showed signs of being over
sold and covering movement by the
shorts rallied prices all around. Recover
les elsewhere did not exceed fractions. ex-
Cept in Rock Island which rallied point
after a drop of rs points The market be-
came unsteady before the expiration of the
hour and then fell weakly to a lower point
than before. Amalgamated Copper lost 29s
points. Wabash preferred 2as points and St.
Paul and Union Pacific points
The bears covered again at the decline.
causing rallies Of from TO points in
( AUalgamated Copper. st. Paul Rock Is
land Wabash preferred. Erie. Reading, the
PaCiffcs. Pennsylvania. Baltimore and
I Ohio. New York Central and Tennessee
Coal. There were losses in Smelling of ?.
Virginia Carolina "a, Brooklyn Union Gas
e. Anaconda 5iz and Northwestern 915
points. Reports of an injunction against
a strike by Wabash employees emphasized
the rally. Prices ran off sharply just at
the last in some stocks and the closing
was easy.