Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-04
OPENING Was Nervous and
Irregular in Tone.
STOCKS MOSTLY LOWER
EARLY SELLING MOVEMENT
FROM TWO CAUSES.
Persistent Sales in Continental
Group Disturbed Sentiment-Wide
Declines for the Leaders.

NEW YORK. May 4.-The stock market
opened nervous and irregular in tone, but
with the majority of stocks lower. Con-
Solidated Gas broke 3 points Tennessee
Coal 22s, ST. Paul Ia, and Reading and st.
Louis and San Francisco preferred declined
about point. Peoples Gas. Colorado Fuel.
Rubber Goods and United States Steel pre-
ferred showed losses of a large fraction.
New York Central and Atchison were the
conspicuous examples of gains, the former
rising a point and the latter a large frac-
ton. Union Pacific opened up g, but ran
off Immediately to below last night.
a drop to $685. by United States Steel pre-
ferred and a reaction to one point below
yesterday in New York Central accentuated
an early selling movement High-priced
stocks declined with some precipitancy
Consolidated Gas losing 5A. Northwestern
@. Atlantic Coast Line and Locomotive
Sentiment was disturbed by the persist
ent selling of the transcontinental group
and the apparent absence of support to
other leaders.
Considerable Union Pacific changed hands
between 1872 and 1855, and the stock was
alternately ruling above yesterdays clos
ing. The pressure against the market
abated somewhat around 1870, and prices
rallied moderately on an advance in Read
ing.
That stock rebounded to 932. ST. Paul
and New York Central hardened IA, Consoi-
idaied Gas pa, and Atlantic Coast Line )
points. The market was showing general
weakness again at IL O'Clock and number
OF the standard stocks were quoted at the
lowest. AtchiSon fell IL.
There were soEae wide declines in active
Stocks. which had a disturbing effect on SEN
tHent, and prices crumbled all around UNI
de- moderate offerings The NOrthweSt ern,
Southwestern. Pacific and Vanderbilt rail-
read stocks fell to the low prices of Mon
day ana Saturday. Mort hwestern broke II
points with more evidence of support.
Great Northern preferred. Northern Pa
CliC and Chicago, st. Paul Minneapolis and
Omaha lost 4 TO . and New York Central.
St. Paul. Atchison, Wabash preferred, Chi
cage and Alton. Wheeling and Lake Erie
second preferred. Louisville and Nashville
Delaware and Hudson. Lacka wanna and
Kansas and Texas preferred to B. Brook
lyn Union Gas lost 10. Tennessee Coal 81,
Sloss-Shetfield Steel 4, United States Re-
duction 31a and Beet Sugar, American
Sugar, Pacific Mail, Car. Pullman, Republic
Steel preferred. Smelling Allis-C Chalmers
preferred and United States Rubber pre-
ferred to ).
The list of one-point losses or over en-
braced practically the whole list The
market was steadier at noon Bonds were
easy at noon.
The effort to maintain the market on the
noon rally proved futile. and a consider
IN some of the leaders before l o'clock
The pressure focused on stocks which
would have sentimental effect on the
general speculation such as St Paul I'm
ion Pacific, New York Central and United
States Steel preferred. St. Paul sold at
16S1s New York Central 1881. Union Pa
cific 1l6A and United States Steel preferred
9S5s.
Amalgamated Copper was let go in large
amounts and the offerings of some of the
coaIers were more extensive. Reading sold
at 9l14. compared with it's earlier top price
of $50. and Erie second preferred's loss
reached 27s. American Express advanced ).
The rally led to great dullness in the trad
ing and was only held for a short time, Ii
quotation being renewed in force. Prices
of all the leaders got lower than before,
but the excess over the previous declines
amounted to only small fractions, and the
market became quiet and somewhat stead
Ter before = O'Clock.