The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-06-11
WALL STREET Stocks
Liquidation Foreshadowed by
a Drop in Prices
But BEARS TOOK ALARM
And Some Noticeable Gains
Made in Some Lines.

New York. June 18-Thers vas some
liquidation in the stock market today as
was foreshadowed BY the drop IN prices
OF Saturday after the bank statement ap-
peared. The bear party which sold stock
AZ that time continued their effort 10 set
prices 70 lower today and extend their
profits. A number Of Developments help
ed them nthis purpose but after the
pressure OF the selling has been regained
and the supporters OF stocks began 20 BID
up prices szain. the bears took alarm and
began 70 cover their short lines. causing
very general recoveries OF loses and II a
few stocks quite notable net gains. As
long as trading was going on IN the
London stock market, the feeling OF de-
preston continued London was quite q
large seller / nthis market and there was
feeling OF some uneasiness lest the
gloomy tone there forsshadoWed some IN
favorable development This weeks
London stock exchange settlement IS
somewhat dreaded. although assurances
is given that the shorts IN Northern Pa
cifc are fully prepared to meet the decis-
ion the day OF the exchange committee
for general purposes in ending the mora
forum granted to the Northern Pacific
shorts after the corner developed IN the
stock. The persistent hsavfness OF con-
sols IN face OF the growing ease OF money
IN London gives rise 70 some dread az a
secret development II diplomacy or inter
nal government policy The heavy de-
mands disclosed by the bank statement
on banking resources here caused Uneas-
ines. as II was not known hov much
further they might proceed. Payments
for thu 81, 10000 worth Of new Panama
stock are required between June l and
Jupe 15, so that the needs on that account
might run over q period 20 come. TIE
easy rate for money today caused & more
cheerful feeling. however. and encouraged
tns hope that the require nelts for large
corporate transactions have been mostly
satisfied for tho present. This =zs a po-
tent factor in the latter rally OF tbs
market when the adjournment OF the
London stock -ket had relaxed the
pressure here. Fhe mystery attaching
to the purchase asd consolidation OF soma
CT independent steel companies vas made
much OF by the bears, who circulated ~
no-s that breach in the steel trade was
imminent between the two financial
groups which figured IN the Northern Pa
CHIC quarrel. The steel stocks lost IA
and Is respectively for the common ard
preferred during the period OF weakness
but rallied 70 a fraction over SATURDAY.
The bears were also inclined 70 discount
their supposition that the government
Guy LrFDEl y AAlGl AlS not cue Until
hour after the closing OF the stock mar
ket would disclose q decided deterioration
IN the condition Of cereal crops. Some
sharp gains that had been established IN
the southwestern group declining in SYN
pathy with the general business. Rock
Island fel las much as AZ from the best.
St. Paul 81 and Missouri Pacific o. The
leading tndustrials showed rather acute
depression. sugar falling nearly 1: Anal
gamated Copper 81 and American TObac-
CO Peoples Gas. and the New York pub
lie utilities from IA 10 ~ The Late rally
LETT the net changes significant IN only a
fen stocks. Missouri Pacific rose very
strongly 20 10 in the late Dealings which
was 21a points over Saturday, The
southwestern stocks generally Southern
Pacific, Atchison and Union Pacific made
notably good TecOveries aid Pennsylvania
wes lifted point over Saturday The
closing nevertheless was slightly frreEu-
lar, the market yielding again IL pots
American Linseed rose 81 and the pre-
ferred g on the buying Of only a few hun
dred shares.
The bond market was moderately active
and showed some irregularity but WIS in
the main 6rm- Total sales par values.
g. AZ, coo.
United States bonds xere all unchanged
on the last call