The Montgomery advertiser., 1902-11-15
WALL STREET REVIEW A RENEWAL OF HEAVY LIQUID
 ALTON. Drive by the Bear Party Caused a W Disorderly Slump to the Low est Prices of the
 Week.

NEW YORK Nov. I4.-A renewal of heavy lquidation in the stock market thls atternoon caused a disorderly slump to the lowest prices of the week. Even at the final rally que 10 the scramble among bears to cover thelr shorI contracts. which lifted prices l@3 points apove the lowest for the weakest active stocks, the prices of not few important stocks are lower than before for the week. At the extreme de, hour, losses of from to were snoWn py the stocks which bore the brunt of the near from yesterday. Rock Island 6A. the preferred 2; Baltimore and Ohio and Louisviie ana Nashville 5ls and a number Of the facincs, n coalers and other stocks 3 points or over. The fierceness and suddenness of the raid came as sOrprise. owing to the character or the support given to the market al the opening decline and the eagerness shown by the bears, who sold short yesterday, to cover ana take their profits. The rapid tumbling or prices financial difficulties and probable failures which gave active employment to some or those pointed at in the making of deniais The wiping out of margins and the uncovering of stop loss orders dislodged a great mass or securities. which have been overhanging the market. No doubt very heavy specuiatiye losses have been involved in some of this selling The knowledge of the precarious slt- uation of some very extensive long accounts ths powerful bear party which broke the market Some of the selling today was alleged to be by large holders of stocks who have maintain ed their holdings for a long time and through all the period of the late advances. Inese holders have seen immense paper pronts melt away with the disintegration of prices and were driven to sell out today to avoid losses. There was no immediate news on which 10 base the attack upon values beyond the pros rect of a poor bank return tomorrow Even this prospect rather favorably modihed today by the disclosure of return How or currency from the interior on the regular movement of over a million dollars. New York exchange at Chicago also rose to loc premium The loss on sub-treasury account of S4, 400, . GOO is therefore modified to the amount of over a million dollars. Sterling exchange was also lower and there seemed to be onerings of loan bills in the market. But the general sentiment in Wall Street was one of depres- sion owing to apprehension that stringent money may recur before the end of the year. The recent succession of pessimistic utterances by leading banking authorities on the subject of bank credits and the currency has had a notable influence on the Wall Street sentiment. Yexterday's announcement by the Pennsylva- mia Company's of 10 per cent increase in wages which would be equivalent to large proportion of the amount at present paid in diyidends was a disturbing factor in view of the recent discussion of this very subject. Pennsylvania and its affiliated stocks were the first in the market to show acute weakness. The announcement of bank suspension in Boston was also taken advantage of by the bears and spectators at that center were Imposed to be aimed at by the railing tao Mes of some stocks.
 BMonds were weak in sympathy with stocks. Total sales,sspar value, S4, 665. 900.
 United states 2s and old As declined T. Der cent on the last call
 Maw York Stock List,