Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-04-29
Opening Rises Soon Lost aud
General Tone Became De-
cldedly Heavy
THEN PANDEM0NIUM REIGNED.
Stocks Sold simultaneously In Differ
eat Parts Of Room at Dlf.
ferent Prices.

New York, April 29.--The market
opened active and exceedingly irregu-
lar Louisville & Nashville rose ~
and Atlantic Coast line lost as much,
United States Steel fell q and the pre-
ferred gained a small fraction, and
Canadian Pacific rs and st, Paul and
Kansas & Texas precfrred fell a point.
After the opening rise some OF tho
gains were partly lost The tone be-
came rather heavy in a few minutes,
A wide variety Of stocks were affected
by the early selling but intemngled
with the substantial losses were num-
Der of advances which impaired a rug
ged appearance to the trading. The
more effective pressure was Concen-
trated against the recent weak features
such as the Southern stocks, PacIlics,
Pennsylvania stocks and the various
metal and car equipment stocks, Loss
es running from a point upwards were
established in the leaders mentioned
and a number OF others, the aggregate
reaching fully 40 stocks. OF these Buff
falo, Rochester g. Pittsburg dropped
liz, Lake Shore 5, Tennessee Coal,
i'lbphlNH Aldllrll anu 4AAlulANlN NptAoN
line az Soss- Sheffield Steel 3, Kan
sas & Texas preferred, d. g. II, c.,
steel foundres preferred Metropolitan
Securities, Virginia Iron and Allis-
Chalmers preferred, G, c. c. & st,
Louis and Pressed Steel Car to 2A.
Advances reaching points were made
by the Rubber Goods stocks and Gem
eral Electric, Realty, Consolidated Gas
Rock Island preferred, Nashville Chat
tanooga &c St. Louis and Northwestern
shows gains az various times OF / to
~. Pandemonlum broke out on the
stock exchange during the second hour
and quotations were practically lost
for n time, What appeared as nuo-
tuations on the tape were slmultane-
GUS transactions In many cases, stocks
being sold in one portion Of the crowd
at prices several points away from
those being made on the other side Of
the crowd, The excitement declines
represented by some Of the confused
price reports showed losses IN Attain
tic Coast line Of ~, Northwestern pre-
ferred On Buffalo, Rochester, &
Plttsburg IN, st. Paul, Metropolitan
Securities Northwestern and Tennes-
see Coal to 55s, Union Pacific. New
York Central, Reading, Kansas & Tex
as pfd,, c. G, e. & st. Louis Smelling
ana Pressed Steel Car four to five
points and Southern Pacific Louis
vile & Nashville, the L. $. steel
stocks Amalgamated Copper, Colorado
Fuel, Erie second preferred and Twin
city Rapid Transit points or up
wards, 1t was difficult to distinguish
the tone at the closing, the higher
prices which were reported later than
the above quotations representing sim
utaneous transactions In many cases.
The market closed I'm extreme democrat
ization.
Closet Money on call nominal, no
loans,
Time loans steady; so DAYS and 90
days Sh per cent; six months, 81 per
| cent.
Prime mercantile paper 3%aHa per
| cent.
Sterling exchange steady with actual
business In bankers bills, at 4S6 500
! 1880 for demand and, at 4Si.50m
$3.50 for 60 day bills; posted rates.
4S5h and 47Sdia commercial bills,
| 4S4m4SI4.
Bar silver. 67K.
Mexican dollars, Az
Bonds--Goyernments steady; rail.
| roads weak