The age-herald., 1901-06-11
SOME LIQUIDATION
 IN STOCK MARKET Saturdays Bank Statement Re- sponsible for Decline inStocks MARKET RALLIED AT CLOSE Northern Pacific Settlement Is Feared and Has Dlsquieting Influence On
 the Market-corporate Re-
 quirements Satisfied.
MARKET RALLIED AT CLOSE

New York, June 10-There was some liquidation in the stock market today, as was foreshadowed by the drop in prices on Saturday after the bank statement ap- peared The bear party, which sold stocks at that time continued their efforts to get prices lower today and to extend their profits. A numbef of developments held them In this purpose, but after tho pres- sure of the selling had been relaxed and the supporters of stocks began to bid up prices again, the bears took alarm and be- gan to cover their short lines, causing very general recoveries of losses and in a few stocks quite notable gains. As long as trading was going on in the London stock market the feeling or depression continued. London was quite a large sell CT in this market and there was feel ing of some uneasiness lest the gloomy tone there foreshadowed some unfayor- able development. This weeks London stock exchange settlement is somewhat dreaded, although assurance Is given that the shorts in Northern Pacific are fully prepared to meet the decision today of the stock exchange committee for general purposes in ending the moratium granted to the Northern Pacific shorts after the corner developed in the stock. The per sistent heaviness of consols in face Of the growing ease of money in London gives rise to soms dread of secret de- velopment in diplomacy or internal gov ernment policy. The heavy demands dis closed by the bank statement on bank ing resources here caused uneasiness, as 1t was not known how much further they might proceed. Payments for the S60, 900 worth of new Pennsylvania stock are required between June 1 and June 15, so that the needs of that ac- count might run over period to come. The easy rate for money today caused a more cheerful feeling, however, and encouraged the hope that the require ments for large corporate transactions have been mostly satisfied for the pres ent This was potent factor In the latter rally Of the market when the ad- journment of the London stock market had relaxed the pressure here. The mys- tery attaching to the purchase and con- solidation of some of the independent steel companies was made much of by the bears who circulated rumors that breach in the steel trade was imminent between the two financial groups which figured in the Northern Pacific quarrel. The steel stocks lost 13s@1B respectively for the common and preferred during the period of weakness, but rallied to a frac- tion over Saturday. Rock Island fell as much as AZ from the best, St. Paul 3h and Missouri Pacif1s 3s. The leading in- dustrials showed rather acute depres- sion, Sugar falling nearly 4, Amalgamated Copper 31a and American Tobacco and New York Utilities from 1Aq2A. The late rally left net changes significant in only a few stocks. Missouri Pacific rose very strongly to 12 in the late dealings which was 21k points over Saturday. The Southwestern stocks generally, Southern Pacific, Atchison and Union Pacific made notaly good recoveries and Pennsylvania was lifted a point over Saturday. The closing nevertheless was slightly irregu- lar American Linseed rose S1A and the preferred SA on the buying of only 100 shares
 The bond market was only moderately active and showed some irregularity but was in the main firm. Total sales, par value 8, ,420.0O0. United States bonds were all unchanged on the last call.
 New York Stock Market.