The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-07-24

Transit and the Pacifcs demoralized the
market and prices broke precipitately in
BY eadn new st 1ow Th che
declines were Brooklyn Rapid Transit IS
points. General Electric 81 points, Consol-
points. Minneapolis and sauit Ste Marie
and Wisconsin Central preferred ~ points,
Hooking Valley points, siossaaShefield
Norfolk and Western, Rock Island, Union
Pacific. Southern Pacific, Missouri Pacific,
points. Amalgamated Copper. United
States Steel and New York Central showed
evidence OF support at about last nights
level The market steadied at IL O'Clock
but continued very feverish-,
The demand died out at the higher lev
els and a renewed drive carried Amalga-
mated Copper point and Brooklyn Rapid
Transit and Rock Island a fraction lower
than before The general market did not
yield to the lowest. Hooking Valley and
Westinghouse Electric first preferred S,
Pressed Steel Car and Metropolitan Sc
curities s. Rubber Goods preferred 31z
Delaware and Hudson and Cleveland. c
c. and St. l. 2s4 points, The market showed
Amalgamated Copper and Rock Island
established a still lower record level at
Smelling was raided sharply at decline
of AS points. Brooklyn Rapid Transit also
went lower. at A. Lackawanna fell A
Chicago ard st. Louis points and Erie
second preferred, Iowa Central preferred.
Kansas City Southern. Texas Land Trust
and International Paper to 8 points.
Sloss- Sheffield Steel extended it's break to
SA points and Fort Worth and Denver
City slumped points. At o'clock the
market was very dull and ruling about
point above the lowest CT weak features.
STANDARD Oil broke 24lk points on the curb
on the sale of q shares.
Half a score, of stocks, some Of
them market leaders, established new rec
ords of the present decline in the early
trading on the Stock Exchange today.
These included st. Paul, Louisville and
Nashville. Northwestern. Wabash prefer
red, Union Pacific. BROOKLYN Rapid Tran
sit Metropolitan. American Car and
Foundry, Colorado Fuel and Rock Island
common. Special pressure was directed
against Brooklyn Rapid Transit, the price
railway and industrial group reached
prices as low any recorded in their his
f0r tbe s stg toe selling boe o ]
of common came out at 227s to 221s, the
latter being Yesterdays closing price, Steel
preferred held steady. The market was
extremely active. with further evidence of
liquidation resulting from exhausted mar
gins and over extension by various oper-
Prices broke with great vengeance during
the second hour and enormous blocks OF
stocks were hurled on the market with an
apparent disregard of what prices they
would bring a feeling of alarm grew
was great. United States Steel preferred
slumped 2ss points to $751;. and the COM
prices St. Paul dropped points and the
Pacifics and Changers generally from 2 to
30 points. the latter Southern Pacific
Brooklyn Rapid Transit was forceu ooWn
45s points and Amalgamated Copper to a
new low level. at Ss@<: Notable declines
in special stocks were Wheeling and Lake
Erie SIS points first preferred 5ss points,
Pacific Coast ~ points the SECOND pre-
ferred, Hooking, Valley and Nasn a,Yl
Sheffield IA points. General Electric 81
points. Colorado Fuel ~ points and the
| New York Public Utilities. Peoples Gas
and the Iron and Steel specialties general
| ~ from to 4 points Chicag go ana tast,
Spring preferred were distinguished by =
! point advances. Rallies were made OF to
z. points before noon by s., Paul; the "a "a
preferred BROOKLYN Rapid Transit. u s.
Steel Amalgamated Conner. Peoples Gas
1 and some others. The trading became much
! less active but the tone continued ner-
vcus and feverish. There was little doing
| in bonds but prices were lower.
/ Renewed liquidation in increasing. vol
urne carae in the second hour and almost
! every stock in the list receded. Additional
! lots of Copper which were below yester-
DAVIS low record were offered for Boston
account. Wire houses sold all around the
connections and Steel affiliations ex-
trenely active. though report credited it
The txchange was the scene of great
excitement IN the second hour when the
whole market was tumbled and creating
Absence of demand seemed to be the con-
trolling reason for the decline in the bign
Declines Of 2 to 4 points were common in
the active list. while some of the inactive
stocks fell even lower. Low records for
the current movement embraced q num-
Der of the best securities in the hist The
market rallied towards noon The banks
continue to view the stock market situa-
ton with apparent unconcern, but are snow
! ing extreme conversation in their loans
/ Boston Mass. July 24.-The Boston mar
| ket opened steady today. but quickly sold
| off on renewed LIQUIDATION anu II syn. syn
1 pathv with the weakness in New York
! IT is not believed. however. that any
| financial weakness exists locally. After
noon the market steadied for a time. but
Amalgamated Copper resumed its down
ward course touching 37Z. Nearly all To-
cal shares were weak