The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-25
ENTIRE LIST OF
NEW YORK STOCKS
is FORCED LOWER
Heavy Selling Causes Rapid De-
cline i'm Securities and New
Low Record for Prices Is Scor-
ed-Corn Is Strong Grain.

No low record marks were yesterday
scored On the New York exchange, when
stocks of all kinds were subjected to the
greatest decline which has occurred in
months. Standard high price securities
suffered with the weak industriaIs and
the entire list was hammered, down: After
the announcement of the suspension of
business of w. L. Stowe & Co. and T., J.
Taylor & Co., the tension was relieved
and prices at once improved. Al the
close some of the quotations for standard
railroad stocks were at high prices for
the day.
Corn was the strong grain yesterday.
1t showed remarkable strength and there
was large volume of trade by outside
near the close but all offerings We're well
absorbed.
A large shortage in July oats made the
demand for that option great Much &C
tiVity was created and the price jumped
&c. Later there was a decline and the
close was the same as Thursday.
Wheat closely followed corn A good
quality of buying orders came near the
close. although the volume of trade for
the day was light.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says: The fluctuations in the market
closely followed those in corn. Trade has
been of fair volume. There has been some
SOOu DuyElS dI times, WHICH AFFECTS IHe
market but on whole it was very quiet.
Corn-Remarkabl strength has been
shown in this market most of day. The
outside trade Is growing and orders are
almost entirely on the buying side. There
has been some aggressive selling by BEARS
but offerings have been well absorbed.
Oats-The feature of the market WAS
the evidence brought forth of a shortage
In July, which was more literally traded
in than for some time. Covering of shorts
with extremely small offerings sent price
IiflrIx 90 f1TT1Cr hNxTT hon
most inSiStent demand was supplied by
local spectators. AT the close all options
were quiet and prices practically unchang-
ed.
S. B. shotwen G. Co.'S grain letter is as
follows:
Wheat-Wheat opened steady, with not
much pressure and no new features. Later
in the session bull parties We're working
actively and supporting the market About
the close Peavy was good seller and mar
ket acted heavy, closing at a loss of 7sc
for the day.
Corn-At the opening local bull crowd
was still aggressively bullish. Some long
corn came out through commission houses.
The close was &c to Nc under last night.
Oats-Oats Were quiet and steady at
the opening with no new features. About
noon the market became very strong, es-
pecialIy the July which showed signs of
manipulation, making trade in this de-
livery very hard The close was about
same as last night.
O'Connor & Van Bergen's stock letter
says:
Under urgent selling and accompanied
by many disturbing rumOFS we have to-
day witnessed in the stock market as
sharp a decline in prices as We have had
to report to you in any time during the
present movement. The fresh outbreak
of liquidation proved most puzzfing ard
eeTnoralizing to the street, and many ru-
mors unconfirmed up to the time Of an
nouncement in the last hour of the failure
of Stowe & Co. and t. j. Taylor & Co.
We're current. The announcement OF
clearing the atmosphere, and the market
enjoyed a sharp rally with groups of
stocks well sustained Railroad shares
of the better class have held steady, end
we do not hesitate to refterate our opin-
ion that at ruling prices many of these
stocks have reached a point where they
are an excellent purchase.
J. c. Geraghty & Co.'S correspondents
say OF stocks:
liquidation in stocks all during the early
part of the day, with sharp declines. In
the better classes of stocks the .early less
was regained before the close; in fact, a
few closed higher than yesterday. 1t is a
very active market with a larger volume
OF good buying than for long time past.
OF course the market Will be nervous
for while. but we think we have seen
the worst. A favorable bank statement is
expected.
Dick Bros.-Stoclls We're demoralized
breaking badly again on continued liquida-
ton. There was rally around noon, but
another break followed the announcement
of failures Of Taylor & Co.. and Steve &
Co. Southern Pacific, which broke badly,
was strong after Taylor & Co. suspended
The market closed very strong with ur-
gent covering under way