The Detroit times., 1908-03-25
WALL-sT. Halls THE
MESSAGE WITH
REJOICING
PRESIDENT RoosEvsLT's CON-
MuNlcATloN INTERPRETED AS
A MESSAGE OF PEACE TO THE
CORPORATIONS.
sToCk LETTER-cLosE.

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NEW YORK. March 25.--Most OF
the changes in stocks at the opening
this morning were declines. the larg
est Icing 1 per cent in Locomotive
Steel common opened Ia lower and
the preferred started rs higher. Mis-
souri, Pacific opened up 1-2 and gained
in ali a point. Baltimore & Ohio
Smelling. Copper and Northern Pa
cific opened 3-S lower The last men
toned fell In all "a and rallied 3-8
Great Northern preferred lost and re
gained IA. Canadian Pacific lost la
Anaconda and Reading opened Is low
er. ST. Paul opened 3-S lower and
General Electric was Ia lower at the
start. The market was irregular a
the end of 10 minutes trading.
There was a heavier tone to the
stock market from the opening and al
through the first hour and at the enc
OF that time prices of the leading Is
sues showed declines ranging from
l TO IL IL points from last night's
close, and a general recession ol
about two points from yesterday
highest figures. Union Pacific opened
IA lower at 126 rs and fell one point
during the hour. ST. Paul, Reading
and the Hill stocks followed In line
and other railroad stocks showed some
losses. There were a few issues
that were exceptions TO the general
keaviness, among them being Missouri
Pacific, Erie and Southern railway
The industrials moved In harmony
with the railroad issues, higher priced
stocks declining about one point, while
low-priced issues yielded fractionally
Brooklyn Union was the exception In
this department, advancing FIVE points
TO los, and b. r. T.. In which bull
manipulation has been resumed, made
a further gain in the early trade. II
reached the highest price of the year.
Government registered fours declined
Ia: other bonds were steady.
President Roosaveytss nas~aua was
received in wall-st. with great JOY
today. IL was Interpreted as mes
sage OF peace to the corporations and
there were rumors that some large
campaign contributions had already
been made this week as = result OF it,
Wall-st. looked with suspicion upon
the delay that has transpired In the
bringing OF the governments suit
against the Union Pacific. 1t was the
general belief that the Hepburn bill
II passed. would nullify much OF this
litigation.
Although the message was not pub
lished until noon today ii was freely
In Wall-st yesterday. every
statement contained In IL having been
known by the brokers and having been
printed in the Wall-st. slips
The stock market, which was wildly
excited yesterday, showed this morn
ing the effect Of heavy selling OF all
kinds of securities. The public pur-
chased freely. believing there would
stocks and business. Brokers warned
chases