The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-04-08
WEAKNESS OF OUTSIDERS
DISC0URAGES WALL STREET.
IMMENSE MASS OF STOCKS
WAITING TO BE SOLD.
Bull Demonstrations Made in Vain
Effort to Attract Public"
Into Speculation.

New York. April THE weakness which
developed in to-day's stock market bore wit
ness Ito the disappointment felt in specula-
tive circles at the failure of what are con-
sidered favorable developments i'm the situa-
ton to awaken any sign of interest in spec
ulation on the part OF the outside public.
Call money was not higher than s per cent
enlarged offerings by the banks. There was
some lending on call also by stock commits
sion houses. which have supplied their ex-
pected needs with time loans and have
money on their hands now, owing to the
practical stagnation of the commission
business In stocks at present. The
be a factor in the stock market. Great
hopes have been entertained that the
advent of this condition would arouse some
speculative interest in securities and would
afford opportunity to begin to move the IN
digested mass with which the market is
weighfed down. Not much prospect vas
tive assimilation OF the congestion OF secur-
tiles, in which is involved the embarrassing
tie-up of credits which threatens the flu
ture facilities of the money market.
SOUTHERN PACIFIC.
The indefinite postponement of the South
ern Pacific annual meeting was viewed in
a more encouraged spirit this morning, ow-
ing to its Insurance of the indefinite pro-
longauon of the present control OF that
property. but renewed uneasiness was felt
southern Pacific STOCK. The %xtensio Of
the pool carries it only TO April 10 and the
suggestive weakness Of the stock to-day had
ket- There was heavy selling at other
points in the list. attributed to the same
source.
This development put an end quickly 10
an upward movement m the first hour. led
by New York Central. which seemed de-
sened as a bull demonstration with the pur-
pose Of attrE sting the expected outside in
terest. When this demonstration was seen
to fail of its effect. speculative interest be-
came ~stagnant- Reports OF strikes at some
of the collieries in the anthracite region
Strike Commissions award had a de-
pressing effect on the coalers.
DECLINES IN STEEL
The sharp declines in the United States
Steel securities coming at the same time
with a meeting OF the Finance Committee
vorable effect Both stocks fell over a point
and the new . Per cent bonds sold on the
curb at 3d. The feature Of the day was
the wide declines among dormant stocks
made necessary before a sale could be ef-
fected. Lackawanna was sold down 9
points after a preliminary rise Of a point;
Cleveland. Lorain and Wheeling preferred
Westinghouse Electric 4. Virginia-Caroiina
6 6aeF Srefe prefsrT sd n n. s and New fu5 HSTE
in the Northern Securities case
in for considerable discussion in con-
necti1n with the points left uneovered by
junction case, and the possibilities lying in
the Northern Securities decision were be-
lieved to have a good deal to do with the
undertone. of the market
Bonds were dull and irregular. Total
sales. par value. N.750.o00. United States IS
coupon advanced u per cent, and the IS
Domestic Exchange.
Whitaker 3 Co. exchange brokers No. 800