The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-06-03
LOWRYS PET STOCK
SLUMPS TWELVE
POINTS
Twin City Rapid Transit Is
Given a Terrible Drubbing
by Wall Street Operators
Decline Caused by the
Failure Of a Toronto Com
mission House = Grains
Are Strong.

Tom Lowry's securities were given a
terrible drubbing in Wall street yester-
day, and his pet stock, Twin City Rapid
Transit was subjected to the worst
hammering that any New York security
received in many months. Within a few
moments after the opening the price drop
ped y points, or from 100 to Sta 1t rail-
lied toward the close, and the last quo
tatiOn was e3.
The failure of A E Ames & Co. bank
ers and brokers, at Toronto. Ont. was
what caused Mr.. LowTy's stock to take a
tumble Not only did Twin City slump.
but 500 and Canadian Pacific dropped
several points Canadian Pacific opened
at u, but in sympathy with Twin City
dropped to IS However, it regained its
loss, and closed at 21&.
Inc general tone of the stock market
was much improved yesterday. With the
exception OF the heavy liquidation in the
canadian securities. the market gave evil
oence OF strength The forced liquida-
ton OF the past few weeks seems IN have
run It's course Commission men now
E look for an active period before the sum
mer dullness sets in.
Grains were all strong yesterday. The
heavy damage to crops in the Southwest
and West caused by the floods was re-
sponsIble for the advancing market
Hlgher prices are predicted. and il. anti
cIpaCon OF the advance the shorts ran to
cover yesterday.
.- What the Brokers Say.
- Connor & Van Bergen's stock let
The. opening of today's stock market
HaS lar from promising, the whole LIST
e D~td-g aIIected by the pressure of the
sr9gp OF stocks which were known to be
ne!d very extensively by Canadian inter
SSls, out later. upon the announcement
o. me failure Of Toronto house, the
SITUATION was decidedly cleared ana a
very general Improvement in nrfoeS - foi q
lowed Much Of the news OF the dsv
Gas been OF an encouraging nature rThe
SS Y;1s, 1 was. too, helped by the grati-
LyL4g news regarding strike conditions
An0 progress towards an early adjust
Loent OF the labor troubles 1t IS gratffv-
11g 70 De able to report that the upward
tuu OF me day and that the CLOSING
prices were at the highest figures.
ID -: = GeTaghty & Co.'S correspondents
Logan & Bryan: It is a better mar
LSeL 1 mere Is q better tone to the gen
era 1eeIlng. Forced nquidations seem
over. There IS a better buying Of good
STOCKS. some gold is being exported but
We are Induced to think unfavorabIe con-
0IuohS nave been pretty well discounted
ana ana W nm the market viii have soft spots
We LINK We would pick up good stocks
On the declines. 01N'
=. NJ DICK & Bro: The market has
T, ceI peter today than any day Of late.
Toronto failure, but pressure anpearad
PElnedlRia1y p IN Twin City, 500 stocks and
~ 5o rsI1,5 racine, but during the after
Randolph & Co.: The stock market
ppsa,so TINS morning under considerable
pressure and there was heavy selling
adam Pacific. Twin City Rapid Transit
ana the 500 shares. This was EXCLAIMED
tater by the news that there had been a
failure OF an important brokerage house
at Toronto. The general n1arket. -I boVo
ever, displayed considerable resistance to
She bad news and shortly after noon it
pegan 70 strengthen. In the late trad
lHs al liquidation seemed to have ceas-
60 and the shorts bid anxiousIy for
STOCKS, causing marked advances through
2uL tne hst The market showed no ten
strong and fairly active. with GOOD s ID
Tances for the day eO~ az
ID. Doran & Co.'s Chicago grain letter
The market opened with shorts an5
~. LOUIS houses eager to buy, and prices
MADE quick advance, which was IIeII
s se3G.,, throughout the day. West and
sou1I 3a news completely governed
tradlng. Rain was general Monday over
the winter wheat belt, but lacking ~,
Inc Pacl1c coast. That enormous dam
age mas been done is beyond doubt. The
Visible Is only 24.50e,000 bushels. Worlds
shipments Were large, at 49, 56 600 bush
els. Inc northwest country elevator
stocks are l, 299, 600 bushels, which is an
increase Of 200 bushels for month Of
May, a surprise to the trade. which ex
pected a decrease.
Corn-The market was very strong on
1ooc news and weather indications. Rain
was general throughout the belt but
there was none IN New England Our
reports continue very pessimisttc on the
crop outlook In Nebraska only S. TO
~ per cent OF the crop has been planted
ana on account OF excessive rain 20 ia
20 per cent VIII have to be 'replanted. The
ground is thoroughly Saturated. ana OIL
uvatlon = impossible. In Iowa the
conditions are the worst In twenfv-fvs
years. With the pest OF weather con
dttfons from now on the crop can hard
y exceed 1000, 600 600 bushels. No re-
ceipts can be expected from Nebrs slSa
and Iowa, end backward farm work viii
prevent deliveries from Illinois IT is
altogether likely many Of the recent sales
were concerned. 1880
Oats-Ths market was very firm. and
Eoverend by the same conditions fnfI1-
enotpg wheat and corn. There was a rush
% buying orders at the opening and
tree liquidation by local longs on tie adj
vance. It is generally conceded that cron
got C. very poor start and present condf
ttons VIII not allow Of 6 crop within 200 :
Z oOc,o0o to eo0,ooo,ceo busheI: Of last
5. B. sEotwen 6 Co.'S grain letter
says.
Wheat-EverythIng was lost sign. ~
today except the rains snd FOODS Ia the