Evening star., 1904-03-24
FINANCE AND TRADE
Market Takes Downward
Turn on Big Selling.
DAY OF THE BEARS
GREAT NORTHERN sLUMPs NEAR
LIZ EIGHT POINTS.
Pressure Against the Merger Stocks
and Union and Southern
Pacific.
DAY OF THE BEARS

NEW YORK. March 24.-Union Pa
cific and Southern Pacific opened wide
in the stock market today. $500 shares
of the former selling at S2x and S21k COM
pared with S1H last night, and 5000 shares
of the latter selling at 49as and 49%. COM
pared with 49A last night. Erie rose 5s
Elsewhere there were small advances over
last night, and the volume of business was
moderate. Metropolitan Street Railway rose
a point, and Minneapolis, st. Paul and Sault
Ste. Marie fell ".
Amalgamated Copper and several other
favored stocks that did not share fully in
the recent rise made good advances. Large
blocks of Amalgamated were bought, ad-
vancing 1t Ia to G0A. Consolidated Gas,
Anaconda, Metropolitan securities, Louis
Vile and Nashville and Kansas City South
ern gained 1h to Is, and Sugar, Erie, New
York Central and Brooklyn Transit 1a1es.
Railroad stocks did not participate to any
decided extent in the rise, selling of Union
Pacific, Southern Pacific and Reading acting
as drag on the general run of standard
stocks. These offerings turned the entire
market downward before IL o'ciock-Union
Pacific reacted to s1sl, and Southern Pacific
fell below 40. Minneapolis, st. Paul and
Sault Ste. Marie rpreferred. Ice preferred.
Realty preferred and International Pump
fell 1a1ss.
Prices sold off In common with a drop In
Northern Pacific and Great Northern pre-
ferred on the curb. Union Pacific receded
to Y below last night, the preferred a point
and Southern Pacific Is Other losses were
fractional, and the strong stocks saved
fraction of their gains. A recovery to near
the best in Arnalgamated Copper steadied
the market, but the trading was without
animation. Colorado and Southern second
preferred lost 1 and Car preferred gained !.
Bonds were steady at neon.
The noon rally was shortlived, prices de-
clining again to tie lowest. st. Paul and
Missouri Pacific were under considerable
pressure and yielded a point each. Great
Northern preferred dropped 75s to 1721e.
Stocks were offered down rather steadily
the Pacifics and st. Paul did not reach
lower levels. Selling was more directed
against Pennsylvania and Atclison, which
lost point EACH Rock Island preferred,
Southern Railway and Wheeling and Lake
Erie scored a similar decline, and Union
Pacific preferred and Westinghouse Elec-
trio sagged 2. Lackawanna advanced 3is.
The Curb Market.
NEW YORK. March 24.-Northern Pacific
opened on the curb today at 127 and sold
down to 125, maximum decline of per
cent from last nights close. Some 1000
shares changed hands in. the first hour.
The principal buying was by firm closely
connected with the company. Traders gen.
orally sold. Great Northern preferred was
quite active at the opening, selling from
168 to TO- Northern Securities was reac-
tionary. At the opening some 250O shares
sold from 90 down to 97A and then back
to 9s%. Over 11O0O shares changed hands
by II o'clock.
At noon Northern Pacific was selling at
126. and sales up to that time aggregated
$500 shares. Northern Securities was 9S%.
with sales Of 1870 shares. Great Northern
preferred was x -, and the sales of
that stock up to noon were $500 shares.