The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-07-11
AFURTHBR SHARP DECLINE.
Stocks Go OFF From One to Six
Points Early in the Day.

Tie Corn Crop StIII IN Danger, but
No CaIamjty Way &c Experienced
The Nouctsr. Situation Also Tn
certuia-CTauEcs Il - cat. Feature
NEW YORK. JGIy T-Juder pres
sure OF Iauilauug sales. the Stock
Market this morning opened weak and
substantially lower declines extending
from fractions 10 points. The weak
est stock on the list was Rock Island.
while the other grangers and Pacific
stocks ais. exhibited a continuation Of
the weakness shown at the closing last
night
The activity prevailed in the railway
list for the main part and better re
sistance was shown by the industriaIs.
The local transportation group also dis
played considerable resistance and oD-
ening losses were only fractional
There was an early display of weak
ness among the coalers in sympathy
with the depression elsewhere.
London prices came substantially low
er and the market Tor Americans there
was reported to be quite wild The
Bank Of England did not change its
rate Of discount and its report Of con
dition this week shows an Improvement
as compared with its predecessor.
The influential factor this morning
We're the Government report Of the
corn crop condition. which for this sea
son Of the year Is lower than at any
time during thirty years The figures
are as OF July J. and since that time
hos 10
ages Today the weather in the corn
belt continued dry with temperatures
not so high as those which prevailed
earlier in the week. On The other hand.
the wheat crop gives indications Of be
ing a record breaker The appearance
at this time or in the very near future
of rain would do much for corn and
the developments today do not indicate
that the farmers OF railroads viii ex-
peTience q calamity
Today there viii be q conference at
Plttsburg IN order to determine the fu-
tuTe Of the steel strike and il was the
general opinion that a settlement would
be effected. The steel issues this morn
ing We're lower and somewhat nervous
in view Of the forthcoming meeting
reports OF serious disagreement BE-
tween the most Influential market in
terests were circulated and semi-offi-
cIaIly denied
The best opinion prevails that the
pronounced declines in the market are
the result of 4 technically weak specu-
lative position as much as unfavorable
trade conditions The declining foreign
exchange market makes improbable ad-
diiOn2l gold exports but shipments OF
money from this centre to the interior
this week make il appear that the cash
movement toward the West Will begin
unusually early this year. During the
first hour the market became democrat
ized and violent declines We're recorded
throughout the entire list
Rock Island was the feature at the
opening The first sale was at 1874
against a closing yesterday Of I40 -
It sold Up to 137 L in the first halt
hour and then declined to below the Op-
ening price
Atchis0n closed yesterday at - IS
This morning II opened at = and sold
down TO ? IL before 1870 o clock Then
there came recovery to II ID. and
later II went to 81
The opening sale of Union Pacific
common. was at SO IL It shot I'D &c
JOB 3-8 and as quickly fell as low as
81 - Its closing yesterday was 90 "a
Missouri Pacific also showed wide 7uc-
tuations- Closing yesterday at I0l II
opened at log IA. In the early sales il
sold as high as 105 ID and then tuYnble5
to 102 IS in the first hour