The Birmingham age-herald., 1903-09-28
STOCK MARKET IS
 STILL UNSETTLED
Renewed Signs of Liquidation
 Makes Traders Nervous
BAD BREAK IS THREATENED
It Is Considered Undesirable to Under take Any Campaign for an Advance In the Face of the Money Re-
 quIrements for Crops.

New York, September 26.-Today's stock market was kept unsettled and feverish by signs of renewed liquidation at some points of the urgent and precipitate char acter which threatened the situation on Thursday, and which was checked by yesterdays protective measures taken ey the great banking interests. The course of the London market this morning ln- dicated that the stock purchased yester- day for supporting purposes would De for sale again at any favorable market opportunity. This had the effect of dis eouraging the professional operators who were planning for a turn on the long side of the market, having closed out their short accounts yesterday The mar ket also developed evidences or support on declines . The obvious purpose Is to bring about a condition of greater stabil- ity pending the working out of the hhah- eial situation. A disorderly break Tn nrices is dreaded for the panicky condi- lions which it might bring about, but the feeling continues generally that there IS liaudation still to be effected. IL IS aiso considered undesirable to undertake any campaign for an advance in face or the money requirements for the crops lhe bank statement was regarded as factory especially in the loan cohtractioi, of upwards of $5,000,000 refectlng the soou progress made in the necessary proeess of liquidation. Hopes are entertainer .na this process will begin to be eHectNe III restoring the impedment of credit when bas overh1Inr the market like cloud and infected all minds with distrust anu annrehension. The most notable seliihs measure today was in the united Stales steel securities Baltimore ana ono anu inc fractions. United States steel Tell to vesterdav's low record and the preleffeo to within one-fourth of it. Wnlle ,,l ,he bonds made new low record at ioA' n9 weakness in these securities coh'iiuee ll'-,l.'. nave a. large sentimental effect elseWhere in inc list The selling which developeo on tha favorable hank statement was aiso evidence of the continued purpose or prop ablv necessity to sell etocks on every available opportunity. The market closeo unsettled and irregular.
 The dull and sagging tendency or pilees during the early part or the Weeh soNS way to acute weakness and seml-demor- aligotion later giving the market on Thursday evening much the appearahee if had in July The serious break III nrices induced some support later by the larger financial interests. The urgent anu continuous liquidation was not eNplaliieu s. by any developments in the business UT financial world, and number or lhei- dents which were favorable m their character were actually iR7 nored The news from the va rious crops and the price movement of the great agricultural staples were convincing of the growing assurance or safe harvesting of sufficient supply to afford a good exportable surplus. me harvests of the year have been looked upon for many months as vital point i'm the problem of the working out ot inc involvements in which capital and enterprise had become entangled. rms news was taken advantage of to market stocks. The offer of the secretary Of the treasury to redeem at once the govern ment KS with the six months interest to maturity was accepted as practif' guarantee against stringency in the iall money markets.
 It is evident notwithstanding reassur ing statements profound distrust and apprehension have taken hold Of the speculative mind
 Bonds have declined in sympathy with stocks
 limited States new 4s advanced %' the bs 1. the old registered 2 The 2s de- eIined 11b per cent. as compared with the closing call of last week