Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-27
SPECTATORS
UNLOADED FREELY
This Caused Break in Prices,
Depression Being Aggravated by
Uneasy Foreign Markets,
MOROCCAN QUESTION CAUSE.
Renewed Break In Wheat Was an
Additional Factor 10 the
Unsettemsnt.

New York, April FLA number Of Incl.
dents combined to cause dlsCouragement
on the part Of the speculative holders OF
stocks today, and their unloading caused
sharp break in prices. The depression
was much aggravated by the uneasiness
IN foreign markets on account Of Moroc-
can question and rumors Of a sea Tight
Brokers for foreign houses sold freely VI
all international stocks, The renewed
break In the wheat market was an addl-
tiOual factor towards the unsettemcnt
Some OF the rumOrs which were used TO
MI stocks yesterday were quite emphatl-
Cally denied ana added to the pressure
Inc disappointment OK tho expected
increase IN the NORFOLK q Western diNl-
dcnd affected many speculative dC counts
babed on similar hopes. The weakness
was not acute during the morning ana
was interrupted by occasional ralllCS, but
at noon prices fell with a violence, Losses
extending IN Louisville N Nashville to as,
Tennessee Coal "A Northern Pacific 4
Union Pacihc 3A and New York Central,
81, Paul Illinois Central, Canadian Pa
CihC, Atchson, Atlantic Coast Line,
brooklyn Transit and Republic Steel pre-.
tcrred 2la to pa
Prices declined with some violence at
the opening, the disposition to sell being
aggravated BY the depression ON foreign
stock markets, NortulK n Western fell
10 on the disappointment over the failure
TO Increase the dividend ana Chesapeake
a ohio lost rs In sympatA, Louisville q
Nashville ran of - taiLns over point
between sales. TnC dcchl,, In Canadian
PaCicn ana General EleC.ic ran TO ?
points New York Central and Brooklyn
transit Ia Texas & Pacific rs, Metropoi-
tan Securities IA while the i point
loses Included the Pacihcs, AtchsOn, Mis-
souri Kansas & Texas preferred a.
colorado Fuel Much INDIGESTION Charuy-
terized the stock trading of the first hour
The opening losses were supplemented by
Illinois Central and I'm Northern Pacific,
A brisk rally followed a half dozen or
more stocks recovering / to ~ ana ILL
nois central getting = over eldays
closing, Sugar was lifted lSs to HE'S. TIE
market then broke violently again to a
| point lower than before. St. Paul shovel
a loss Of IA. Norfolk a. Western and
Nashville, Chattanooga a. 81, Louis 92
Louisville & Nashville and Union Paclhc
| 2As and Republic steel preferred Is
Declines Of point u more were the
rule.
The Indifference OF tho demand on any
recovery In prices was shown by the quick
| subsistence OF the buying on occasional
rallies, Prices Of the market leaders did
| not get lower than during the first hour
| but wide declines were made at new
points among the speclalues. Smelting
| was forced down pa Republic Steel pre-
| Canadian Pacific 2ss, 81. PAU and Erie 20,
| c. q o., and Chicago Great Western pre-
| ferrcd 81 rs ana Atlantic Coast Line,
| Southern Railway, Ontario western,
| Consolidated Gas, Tennessee Coal Press
| ed Steel Car and some others between
| ana ~. After rally Of ~ In Smclt-
| ing, l's in Tennessee coal ana | IN NOR
| folk d Western the market became dull
and soft and yielded suddenly TO the low
| est at noon
Bonds were heavy at noon
| Liquidatlug sales 0Nerhowed the mar
| ket after ~ o'clock and values fade
rapidly, Enormous sales Of the high prize
| ed standard railroad stocks contributed
to the pcssmism among the traders and
! there was a liberal Outpouring OF spec uia-
| tive favornes. The southern group, New
| York Central, St Paul Union Pacific,
| Norfolk & Western and Tennessee Coal
seemed at times to be wholly without
| support Nashville Chattanooga & st.
| Louis dropped AZ, Louisville q Nashville
~, Tennessee Coal A., Atlantic Coast
| Line 8i7, Union Pacific 3h, Norfolk a
! Western and New York Central and
| BROOKLYN Transit 2ia Fltful rallies Of a
point or so In special stocks were not
held
The market was given only a short
rest before prices took another downward
plunge, widely extending the previous de-
| clines. Most Of the active stocks were
| brought within the range OF point losses
Missouri Pacific and Northern. PACING
DO
| Union Pacific New York Central Chesa.
peake & Ohio, st. Paul Brooklyn Transit
| the Metropolitan stocks. Locomotive and
General Electric To 30, southern IA
cihc 2Ss United states Steel 2k, Amalga.
mated Copper 2A, Consolidated Gas ~
| Tennessee Coal IA
| The market failed to show the expected
demand from the bears In the final hour
| AS a result Of the short selling during the
| day and prices broke with renewed VIC,
lencc, tolses generally extended from
to 4 points Great Northern preterre'
lost 49, l.. q ~ GA Union Pacific so
| Northern Pacific. Nashville, Chattanooga
& St. Louis, Wheeling n Lake Erie first
| preferrod. Locomotive and pittsburg G.
! e. g. St Louis, Atlantic Coast Line ~
st. Paul and New York Central ~
Canadian Pacific ~. While the losse
running from 10 4 points included tn
| great PaCi0cs, Trunk lines, Coal- re-
Southern and southwestern railroad
stocks and the most prominent indus
trials There was some covering by room
shorts before the close, but the resultnl
rallies were not held The closing Wa,
semi-demora'Ized,
Close. Money ON Call firm, 2Ad3l pei
cent closing bid 2A,
Time loans steady. Go days 3ii per cent
90 days, 3la; six months, 3igdaA per cent
Prime mercantile paper idlh per cont
Sterling exchange Arm, with actua
business iu bankers bills, at 4 So, 4iGii Sc n
for demand, and At i.Si,jodi So for en-
day bills.
Posted rates. iS5ai,S1.
Commercial hills, iSihmi 4S.
Bar silver d6N