The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-03-10

Wall Street New York March %
SToCk S-Ihe market opened weak unaer
the influence of reports of renewed hostili-
ties between large holders of Southern Pa
cihc That stock broke down rs points on
the sale of 1000 shares and Union Pacific
lost IS point. The declines elsewhere We're
fractional and there was a few small gains
but these were among the less important
stocks.
Large purchasing orders appeared for
some of the metal stocks and their
strength was diffused to some extent in the
general market, checking the reaction. An
advance in the price of pig lead was re-
Elected by the rise of ~ points in Smelling
gained 1 point and Anaconda 3 points on
the rise OF Copper. Elsewhere prices re
Pennsy lyania, st. Paul and New York
Central advancing a fraction above last
night while Southern Pacific and Union
Pacific made substantial Tecoveries. The
higher level of prices invited renewed sell.
ing. which was concentrated against he
Pacifics for time but soon extended q
around Most of the speculative favorites
sold below their opening and showed little
rallying power Metropolitan Street Rail
way, Canadian Pacific and Rock Island
lest 1 point, St. Louis and San Francisco
1sz points and Ice preferred 4 points.
The check to the recovery discouraged
the buying demand and the market be
came dull and heavy for a time slump
of 95a points in American Ice preferred
and "a points in the common on light sell
ing created bad impfe ssion and soon af-
terWard there was a plentiful Spilllng OF
stocks all around the room and some bad
brea ks in prices NFefroDOIftan Street Rail-
way and Minneapolis and St Louis drop
ped points. Southern Pacific 27s points,
New York Central "a points, Delaware
and Hudson and St. Louis and San Fran
cisco pa points, Rock Island rs points,
Union Pacific points American Mating
124 points. preferred 2s4 points and many
active stocks between 1 and points.
Amalgamated Copper reacted 1ss points
and then reacted a point as did New York
Central and Southern Pacific, and the mar
ket rallied. but was extremely feverish- An
advance of II point in United States new
As Of Il point, in the old As. S. and S. reg
istered gave rise to some surnises of posi-
BILE purchases of bonds by the treasury for
the relief of the money market. Railroad
bonds were lower at noon.
Prices held fairly well at the noon rally
No attempt was made TO increase the re-
cOvery, bull operators being contented to
held the list steady so as to invite further
liquidation OF bear selling. Pennsylvania
weakened decidedly and sold wen under
the foreno0ns lowest. American Ice raj
lied y point and the preferred % points
Pennsylvania broke to 1924 and St. Paul
the Pacific. New York Central and other
active stocks fell lower than before. Gov
ering of shorts caused rallies later, but
the important improvements were slight
exceptions in few cases and were fol-
lowed by dulIness. Southern Pacific and
New York Central rallied a point Ameri-
can Grass Irvine lost 2ia points Pacific
Coast and North American 3 points, Steel
Foundry preferred 4415 points Minneapolis
and St Louis and Michigan Central ;
points and Buffalo, Rochester and Pitts
burg 5l2 points