The Saint Paul globe., 1905-03-28
FIRNER OPENING,
CLOSING EASIER
Heavy Selling Late in the Ses.
sion Caught Stop Loss
Orders

NEW YORK. March 27-An extraor-
binary play of quotations in large num-
Der of low grade industrials and special
ties kept Dip some appearance of strength
Tor the greater part of today's session OF
the stock exchange and served to disguise
the realizing that was going on the more
substantial stocks But the market gave
way late in the day and fell sharply to
low level. On the early strength kept
alive the hope that the great resiliency
developed last week on the midweek de-
cline was herald of the strong resump-
ton of the advance. There was gen
fessional operators that the dubious
points in the speculative situation had
been forced into the background by last
weeks demonstration of the resisting
power of the market. The halting tend
ency which developed in the course of
the days trading was not clearly trace
look. but the disinclination to follow up
last weeks recovery with further large
buying was very clearly defined.
SpeciaItes Active
The miscellaneous collection of stocks
which shot up from time to time while
p efforts were making TO hold the market
were not the subject of any information,
either special or general, to account for
the movement. The absence of explana-
ton and the lack of any common ground
OF interest between them, We're the cause
OF some suspicion of the movement a
list of twenty-five to thirty might be
In transactions, We're lifted from / to
nearly points. Some influence is given
to the money outlook the factor check
ing active speculation, especially with the
April l requirements now near at hand.
Quarterly payments on that date will add
to the normal monthly requirements.
The renewal of demand for gold on the
part of Paris. which came into force in
London on Saturday is regarded as sig
niicant and modifies considerably the
prospects in the exchange market. Any
tendency for gold to move to New York
from London would be restrained by an
accompanying demand from Paris. An
1ntimation came from washington also
that further calls for the withdrawal Of
government deposits might be expected
to the extent of $15,0O0,000 TO $4,000. 000
as opportunity might offer without -likeli-
hood of harm to the business interests
of the country, this measure being con-
Sidered desirable to be completed before
a period of possible money stringency in
the fall. The tone of foreign markets
was regarded as renewing the doubts of
an immediate peace, which was felt with
growing confidence to be imminent last
week.
Atchison's Bad Earnings
A bad effect was produced by decidedly
weak showing of net earnings for Feb
ruary presented by Atchison, the decline
in gross earnings being aggravated by a
rise in operating expenses so as to induce
decrease In net earnings for the month
OF $Sl4,00O. or more than ~ per cent
Reports of railroad traffic generally how
ever continued highly encouraging on the
part of railroad officials offerings of all
classes continuing large. while favorable
weather conditions enable the handling
of the business at the lowest possible
cost of operation. Stocks, however
showed increasing signs of weakness as
the day progressed and closed at prac-
tically the lowest of the day. Union Pa
citic'S decline ran to points and many
other standard stocks fell from 1 to 2
points.
Bonds We're irregular. Total sales, par
value $4,320, GOO. United States IS cou-
pom and the new As coupon declined Il
and the new As registered H. The old
> As coupon advanced Il per cent on call.