Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-04-04
Result of Suit by U, ?. lntrests
Against the Northern Securi-
ties Dissolution Plaa.
PRICES GENERALLY LOWER.
Everything Observation-Disclosures We're
Followed BY Recoyeries, and Sell.
ing by Buying.

New York, April 1.-THE stock market
today opened feverlsh and unsettled as a
result Of the litigation by the Union Pa
cIhc interests against the Northern Sc
curlties dissolution plan, Union Pacific
Jumped ~ and st. Paul broke 2kl as q re-
Election Of this influence. Prices generally
were lower, the declines running TO about
Copper and Sugar The decline In the
market became pronounced when Union
Pacific and Peoples Gas broke badly.
Union Pacific down from Slli TO 81 and
Peoples Gas fell 2is below Saturdays
close, Declines elsewhere reached points
In Chicago X Eastern Illinois certificates.
and ! % IN In AtchisOn, Baltimore a.
ohio Reading, Delaware a Hudson, Erie
first preferred, Missouri Pacific Canadian
Pacific, Kansas city Southern preferred
and General Electric. ST, Paul rallied in
face Of the general decline. then reacted
but rallied again and pulled up the mar
ket IN sympathy, Prices hardened In 50 te
Of the suspension of a stock exchange
house which was not considered import
ant, Union Pacific was taken In long
strings or Transitions up to Sg5s and Peo-
pies Gas rose nearly a point over last
Saturday. The recovery In the general
market reached only about Saturdays
closing level, The advance was character
lze1 by heavy selling Of United States
Steel preferred which carried Il down a
point and Union Pacific reacted 10 s.,
United States Rubber preferred rose 2Ss
while Wheeling a Lake Erie first and Sec
ond preferred, Denver & Rio Grande and
81. Louis Southwestern preferred fell Us
to-
popds uoro irro,,,,tas % .,oon
The market made lstless response to
the strength In Union Pacific which rose
10 500. Peoples Gas was sold heavily
against just before o'clock and got back
near g6.
Selling went on during the afternoon,
forcing the list down TO near the low
point Of the morning and some stocks he
low The violence and frequence of the
trading in Union Pacific and Peoples Gas
had a represslve effect on the specula-
ton. Wabash preferred lost point
Amalgamated Copper ~, Sugar rs and
Delaware 4 Hudson over 2. At o'clock
Union Pacific was lowering around So
Peoples Gas rallied TO 9Ils but ran of
again. Smelling preferred and Union Pa
cillc preferred gained l.
The petition by Union Poetic interests
TO en1oln the Northern Securities plan OF
distribution unsettled the stock market to-
day and caused feverlsh fluctuations
These seemed due to puzzled efforts on
the part OF the professional traders TO find
the market without any clear Idea OF the
actual effect OF the news on values The
only fact left clear was that the SUPPOSE
lions on which they have traded for two
weeks were unfounded, Their conflicting
Efforts to retrieve probable mistakes
caused a very confused price movement,
but the undertone was weak on account
OF the apparent hostility between great
groups Of capitalists, Union Pacific open
ed rs higher than Saturdays close and
then receded as much below that level.
ST. Paul broke 2h on the opening sales
and recovered half the loss while Union
Pacific was running of Losses ran to a
point In a number OF railroad stocks and
specialtles and prices ran downwrds and
upwards in hesltating manner. In the
course Of an hour the market became
queter
on the curb Nothem Securities was the
only merger stock In which any actual
trading was done In the first half hour
today, Ii opened at %, decline Of 2
points from Saturdays high price, sold of
to 97A then back to IS. About 1900
shares changed hands In the first half
hour There were no transactions In the
other stocks, but bid and offered prices
were wide apart. Northern Securities
stubs was 255 bid, offered at $50: Northern
Pacific was 1872 bid, offered at 40, and
Great Northern was 1853 bid, offered at III