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Show THE WORLD'S MARKET NEWS WALL STREE.T. New York, N. Y.. March 5. Fortified Forti-fied by large speculative orders for the principal stocks and signs of a better demand for a wide assortment of minor specialties, the market, displayed dis-played general strength for a time today. Appearance of railroad statements, state-ments, including Reading's, showing further decreases In earnings, had only on-ly a temporary influence, and it was not until acute weakness developed in Chesapeake &. Ohio that the upward up-ward movement was checked. The provision of the Chesapeake & Ohio note issue calling for expend! tures of $17,000,000 for improvements in the next five years, before dividends divi-dends are paid, caused the stock to sell down five points to 59. Bear operators op-erators made the most of this slumu and sold stocks all through the list, depressing prices under yesterday's close. Bonds were Irregular. RAILROAD STOCK SAGS New York, March 5.--With the announcement an-nouncement today of an issue by the Chesapeake & Ohio railroad of $33,-000,000 $33,-000,000 five per cent five-year notes, the stock sagged abruptly during the first hour of the market, declining to 60, against C3 7-S at yesterday's close. Trading was unusually heavy and Implied some doubt as to the stability of the dividend. It appeared that one of the provisions of the Issue Is-sue prescribes that during the term of these notes, the company Is to set aside from its earnings $17,000,-000 $17,000,-000 for improvements to the property proper-ty before further dividends can bo paid. That is to say, fixed amounts must be set aside each year, $2,000,-000 $2,000,-000 the first, $3,000,000 the socond year, and $4,000,000 for each of the remaining three years. Officials of tho road refused to discuss dis-cuss this feature of the situation except ex-cept to express the belief that earn-' luga would be large enough to cover the additional charges. Loudon, March 5. The underwriters underwrit-ers of the $25,000,000 Canadian government gov-ernment loan have "been left with 78 per cent of the Issne on their hands. |