Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-03-03
FINANCE AND TRADE
Sharp Recessions for Rail-
roads Marked the Opening.
FRACTIONAL DECLINES
LEADING STOCKS, HOWEVER,
GENERALLY TRENDED UPWARD.
Prices Ran or After Movement of
Steel-Some Leaders Got Under
Last Night Point.

NEW YORK, March 3.-Opening prices OF
railroad stocks today showed some SHARP
recessions. while the industrials and spe-
cialties were inclined to move in a contrary
direction The opening, in consequence
was very Irregular
Union Pacific lost 1h. and declines ran to
point in New York Central. Atchison
Southern Pacific, Atlantic Coast Line and
Consolidated Gas. There were large frac-
tional declines also for Pennsylvania Balti-
more and Ohio and Erie. Among the gains
Sugar showed u and Minneapolis. ST Paul
and Sault Ste. Marie, Erie second preferred.
Metropolitan Street Railway and Smelling
large fractions.
Apart from the immediate cancellation of
the rise in Sugar, leading stocks quite gen.
orally trended upward after the opening
dealings. Conspicuous advances, however
were limited to recent features, such as
Erie second preferred and the southern rail-
roads.
Although Erie second preferred moved
up buoyantly to 1112, the common stock
showed little sympathy with the movement
and ruled under yesterdays closing.
An advance to 140h by Atlantic Coast
Line caused a sympathetic rise OF nearly 2
points in Louisville and Nashville, but
southern and southwestern stocks other
wise were not benefited. Union Pacific made
up nearly all it's loss, but the grain car
riers generally were without feature. Met
ropoitan Street Railway improved l and
Realty 21a, Kansas City Southern declined 1,
Missouri, Kansas and Texas IL, Lacka-
wanna ~ and Pullman 31s.
frices recovered slowly to near last
nights level but near noon sale was re-
corded of Sloss-Shefield Steel at SO. This
stock sold yesterday at 1OS, and much
higher last week Prices ran off after this.
Tennessee Coal broke 81. Republic Steel
preferred 2h, Cleveland, c. c. and ST. Louis
Nnvxy V1vly frn1 Cd
rs and Union Pacific Erie. Baltimore and
Ohio and Ontario and Western got point
under last night. Louisville and Nashville
lost its gain.
Smelling and Steel Foundries preferred and
U. S. Reduction preferred sold 61a higher
than the previous sale. Sheffield Steel
sold at %, following the sale at sc. There
were heavy blocks dealt in of Kansas City
Southern 3's at 72l4 and above Bonds gen.
orally were steady at noon.
Smaller offerings continued to come on
the market and some of the more import
ant stocks sold still lower. Business IN gen.
eral was too scanty to produce much va
ration in values, the heavy selling just be-
fore midday apparently cleaning up urgent
orders
st. Paul. Wabash preferred, Colorado and
Southern first preferred. Metropolitan Sc
curities, Republic Steel and Virginia-Caro
lima Chemical all sold a point under yes
terday's closing. On the other hand, Sloss-
SneiHelQ steel got DaCK TO 10. DeS MONIES
and Fort Dodge rose ~ and Lackawanna
3A.
A good deal of demand developed for the
southwestern railroads, and advances of 1
to 11a occurred in Kansas and Texas pre-
ferred, st. Louis Southwestern preferred,
and Texas and Pacific Missouri Pacific,
Kansas and Texas and Wabash preferred
recovered their earlier losses of about a
point.
Renewed liquidation in Tennessee Coal,
which fell to 50, depressed the market at 2
O'Clock. Reading and Pennsylvania lost q
point, and Union Pacific ~. Atlantic Coast
Line showed good resistance, touching 14Oa4