Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-05
FINANCE AND TRADE
Bad Break in Stock Market
Today.
WHOLE LIST LOWER
FAILURE OF TWO FIRMS AN
N0UNCED.
Heavy Selling Of Their Securities
Added to the General De-
preston.

NEW YORK. August 5.-Opening prices
ran OF sharply all around on heavy offer
ings. which were conspicuous in the Pa
cifics. Grangers and trunk lines. 4Atchison
dropped IN. Canadian Pacific. IL. and
Rock Island. IN. Brooklyn Transit lost
1B and New York Central. Union Pacific.
Southern Railway. Amalgamated Copper
and Consolidated Gas about a point The
Virginia Carolina Chemical stocks fell ~
each and General Electric. g. There were
large blocks Of United States Steel offered.
but II lost only Y and the preferred after
opening unchanged was lifted y.
The opening prices were generally the
lowest. as vigorous supporting orders were
In the market for the account Of friends
Of various stocks. Very large offerings had
70 be taken by the supporting orders. but
their absorption relieved the tension of ap-
prehensien and the selling pressure relaxed.
Very general reeovertes had been made by
the leading active stocks within a half hour
of the opening.
Before the rally st. Paul lost ~, Louis
Vile and Leather preferred IL. Southern
Railway preferred "a. Metropolitan Street
Virginia Carolina Chemical f. The prin-
cipa1 SUI port was in the United States
Steel stocks. lifting the common a point
and the preferred LIS over last night. Rock
Island preferred gained ". A large num-
point or over In the opening break and
Snun broke Is. General Electric and Wheel
ing and Lake Erie first preferred AZ. Colo
RADIO and Southern second preferred 4. Con-
tinental Tobacco preferred * and the Min
neapolis. ST. Paul and Saulte Ste. Marie
stocks, Rubber Goods preferred and Realty
preferred 2 to ~.
A break of IN in Sugar toward the end
of the hour unsettled the market again
and prices yielded.
The recent heavy declines in stocks in
which they were interested had foreshadow-
ed the suspension of Sharp s. Bryan. which
was announced Immediately after IL o'clock.
The rally was checked, but the general
market did not become acutely weak again,
the announcement being accepted as clear
Ing away cloud over the market as in the
case of other recent failures The tone con-
tnued feverish. however.
virginia Carolina Chemical rallied ~
and then ffuctuated frregularly. Missouri
Pacific ran off ~. Chicago and Eastern
Lake Erie first preferred. ~. Colorado
and Southern first preferred, 3x. Southern
Railway preferred. 81. st. Louis South
western preferred and Metropolitan Street
Railway. 3 and st. Paul preferred and Pa
cif1c Coast. 2. The United States Steel
stocks lost their gains. Bonds were heavy
at noon.
Liuuidations broke out again with greater
violence and the market sagged well below
the forenoon low level. st. Paul, Missouri
Pacific, Atchison, Union Pacific. Baltimore
and Ohio. Erie. Southern Railway, Reading
Amalgamated and United States Steel
stocks were foremost in the decline. and
were unloaded In large stocks. Missouri
Pacific slumped 3& to 81, and overnight
losses ran between 1 and points in other
prominent stocks. st. Paul dropped On to
1855. or about points below the previous
low record Of the year.
Low prices were made pretty generally
throughout by various members Of the
leading groups. Purchases of st. Paul. Mis-
souri, Pacific. Southern Pacific and Balti-
more and Ohio rallied them point later
and the general list recovered a fraction
and became quieter. High-prtced inactive
stocks suffered severe losses Pullman
breaking w. General Electric 81. Metro
politan Securities and Northwestern pre-
ferred. Consolidated Gas, Rubber Goods
preferred and Westinghouse Electric g.
Third Avenue exceptionally advanced IL.
There was spasmodic outburst Of liqui-
dation again and the general level was
carried still lower. Consolidated Gas fell
IA General Electric 81. Missouri Pacific
Az. Northwestern and Southern Railway
preferred 4, Pressed Steel Car 81 American
Express az, Sugar. Denver and Rio Grande
preferred. and Twin City Rapid Transit 8,
and Atchison. Union Pacific, Baltimore and
Ohio and Erie 2a2A. When the selling
abated the market hardened a fraction but
was going of again at 2 o'clock on light
selling.