Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-03-29
MARKET CLOSES
WEAK, DECLINES
WERE RECORDED
Several Important Issues Fell
Sharply in the Final
Hour.

NEW YORK, March 29.-The stock
market was irregular at the opening
today. The largest changes were made
by Minneapolis, st. Paul and saul
Ste Marie, which advanced 1%, and by
American Car, which gained a point.
Norfolk and Western lost u.
IL a. Unfolding up OF selected stocks
failed to hold the market, and there
was a pretty general shading off to
below yesterdays closing. Canadian
Pacific went up a point to 225, and it's
affiliated stocks. Wisconsin Central and
Minneapolis. st. Paul and Sault Ste
Marie. were / and Q points higher, re-
spectively. Wabash preferred respond
ed with a rise of 1ss to the announce
ment that the company had sold the
last of its Wabash ittsburg Terminal
bonds at good prices. Lehigh Valley
also showed temporary strength.
Speculation at IL o'clock was very
quiet, but there was no pressure of
consequence on the market.
N~oon--F'ears Of an early decision IN
the trust cases had a restrictive effect
on speculation and traders also were
OAi 49, oiIoRPCAitto az AN
of the large interest to carry on their
rise of yesterday. Much was made of
the unusual success attending the bid
ding UP of closely held stocks, such as
the Canadian group, in which new high
records are a daily feature. A new
angle was given to the bulge in these
stocks today by unconf1rmed reports
that Canadian Pacific was buying into
%h1 liz uylo,, 1toalrc n x,;Ixy rrba-o MO q
also talk along these lines of Lehigh
Valley acquiring a large interest in
Wabash. The motion introduced into
the Pennsylvania Legislature to inves-
tigate the anthracite industry held the
coalers back some, blu the selling was
very moderate. BY midday most of
the important stocks were practically
on a level with last nights close.
Dealings in convertible bonds were
again a marked feature of the early
session, sales of Atchison, Union Pa
cifc and Norfolk and Western issues
of this class constituting a large per-
| centage of the whole.
1 p. m.-The large proportion of the
dealing was confined to stocks that do
not normally figure to my notable ex-
tent in the market or sway general
| sentiment. Fluctuations in these were
unusually wide. Criticism Of the
management over different depart
ments I'M the company was reflected in
steady liquidation of American Wooden
common and preferred stocks, which
went down 8 points. Texas Company
also dropped 2 points. On the other
hand, Wisconsin Central eclipsed Cana
dian Pacific, the parent company, as a
market feature, rising briskly to 71h,
a gain of AS. National Biscuit was run
up 3% to 1929 on a few transactions.
and there were gins of a point or
more in other inactive stocks.
3 D. m.-The market closed weak.
Still lower prices were recorded in he
final hour, when such issues as Reading.
Union Pacific and U. s.. Steel fell sharp
ly. Rumors associating the general
financial situation with the forthcoming
session of Congress were circulated
with come effect, but the ease with
which quoted values declined offered
striking proof Of the markets hollow
character.
Extreme dulness marked the final
dealings.