The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-04-27
n { W CARRIED
MARKET DOWN
Sharp Break Caused General Re
action and Upset Prices
at Close.
RAILROAD RUMo'Rs AFLoAT
IA. C. Z. Story Excites Interest.
Downward Plungc$of North
cr, Securities.
~ Associated Pressl

NEW YORK, April 2e.-specuatiyc
sentiment In tho stock market seems 10
be swaycd at present almost entirely
BY the ynrying gossip regarding the re-
Z lat,ons, between rnilroad capitalists. who
control tho northwestern railroad systems.
To-day's rumors shifted toward the side
OF the prevailing money and disposition.
TO cooperate for mutual advantage. re-
norts Of restored harmony came after
the movements Of the stocks and there
was suspicion that manipulatiye process
cs played q, large part In the price noSe-
ment, The downward plunge In tho prico
OF Northern Securities was In large part
due 10 the fear thar with the release OF
the stocks Of Its constituent companies
they would be freely llquidated on ac-
count OF the high level 10 which tho nom,
lnal quotations had been carried, while the
holdings were tied UP. in the Northern
securities Company. rtimor was SCI
afloat that an agreement had been rea en-
ed & as to the disposition to be made OF
Northern Pacific. II was alleged N al
dItion that the controlling interests IN
Union Pacific. had nyerted danger.
which menaced them Of losing control of
their property and that the proposed Is
sue OF slG0, 0o10DO OF preferred stock would
be abandoned as 1t had been intend dle'
considerable outstanding short interest,
which was alarmed by these develop
ments. The effect was clearly manifest
the Nerth
Northwestern, Illinois Central and New
York Central. all OF which have been,
speculation based on this topic. Very ex-
4 piiclt declarations were made, also that
the long rumored lease by q dividend
guarantee OF Louisvillc5 and Nashville md
Atlantic Coast Line had been definitely de-;
& termncd upon. The United States Steel
stocks at first reflected disappointment
Z. on the part OF the spectators, who had
quarter than we're reported at the meet.
ing after the market had closed yester-
day.. but these stocks showed q good re-
covery when the general strength de-
ment aroused growing suspicion. especial
d ~ the fcyerish fluctuations In Louisville
( and Nashville and the sudden subsistence,
mt interyals OF the active buying move
shaky when the news WINS published Of
the declaration OF only the regular diyl-t
dent on Norfolk and Western. There has
been extensive specnlatlons based on
Of disappointed holders carried that. stock
y 3 points under, last night and broke the
whole market. The closing was weak
and without effective recovery. s{, 9 sEgss ~
Bonds were tirm; total sales, par value,
8S 81, AGO. COO. b 5.tl
United states bonds were all unchanged
on call. rs, m
The j. total sales Of stocks amounted to
F1,1s7.900 shares.
y MONEY AND ExCHANGE-CLosE
closing bid. 2l-2; offered at 81; time
loans, steady; 90 days. 3 II per cent. 80
days. LIZ: six mon tbs. 3 1884. ts 4
Il Prime mercantile paper. 4api 1-2 per
a VI pat Hrr1
4 tual business In bankers bils,lat stss 4OY
1885, IS for demand and at s1sa.50asiS4. IS
,or GO day bllls. Posted rates. s4s5 and
\ &ilXec. 81. Mexica dallars Il -