The age-herald., 1902-05-05
CHANCE GIVEN
 ID AVERT FAILURE Supporting Orders at Weak Points Found Necessary REGULATORS ARE NERVOUS There Was Threatening Break of Prices at the Opening of the
 Stock Market In Spite of
 spotty Strength.

New York. May s.-The net changes in today's stock market show little Of the feverishness and nervousness exhibited in two hours that was apparent in the fore part of the week.
 When the market closed yesterday there was realization of the nature of the financial troubles reflected in the col lapse yesterday of the so-called Webb group of stocks on the exchange and on the curb market today. Opportunity was given to make provision today to avert the threatened failures and to provide for support in the stock market. The fact that no stocks are deliverable on Sat urday under contracts, according to Stock exchange rules and that loans made on Friday carry over to Monday, admit tedly helped the efforts to avoid trouble There was a threatening break in prices at the opening of the stock market In spite of a strong upward movement in Louisville and Nashville and Pennsylva- mia. These advices were lost, however, and the supporting orders at weak points were found necessary to check indls- criminate liquidation. When St. Paul was selling at 100 share lots at ITO there were bids in the market for 1000 shares at 170A. The centralized buying was not followed up when 1t was seen that the selling was checked. After the bank statement appeared the buying was re- newed in a more aggressive manner and the market developed a fairly buoyant tone with the closing active and strong. Earlier losses were generally wiped out and net gains were quite common at the close. Of these stocks supposed to be immediately concerned in the disturbance Rutland preferred 1uctuated between 1o3 and 99, with the last sale at 100 compared with 102 last night. St. Lawrence and Adirondack was variously quoted at 30 bid, 120 asked at 75 and 12O asked, with the closing quotation 50 bid and 100 as..ed
 The increase in cash shown by the banks was a surprise, as the heavy sub treasury absorption during the week in dicated a loss of upwards of $3 000 0O0 The relief thus afforded was a welcome one, in view of the loan expansion of up- wards of $10,000,O00. The sharp liquidation In the stock market, 1t is hoped has served to relieve the tension of the money situation, although an active money mar ket Is expected next week.
 Declining speculative interest has been shown In the stock market this week and efforts at supporting prices have not met with entire success. The month-end re- quirements precipitated a stringent condi- tion in the money market, which was az gravated by the collapse in International Tower and the distrust engendered ir some of the other industrials supposed to have affiliations with that company or whose conditions are equally shrouded in mystery.
 The weekly bank statement reveals that the banks are down to the legal reserve limit, which is thus seen to figure not only against their own deposits, but those of the trust companies and many interior institutions, who also kept cash deposits in New York banks
 The varying weather news from the crop belt has been an influence on the stock market, and the delay in the settle ment of the anthracite labor question has been drag upon speculation The main tenanco of foreign exchange in the neigh borhood of the gold exports point, in spite of the rise in local money rates, has kept alive the question of gold ex- ports.
 The bond market has been affected by the late weakness in stocks, and prices yielded in sympathy. United States new 4s registered declined 1A and the new As coupon 11a per cent as compared with the clcse last week.
 New York Stock Market.
 By Private Wire to Murphy Cn