The Montgomery advertiser., 1903-07-24
WALL STREET REVIEW
EXCITEMENT AND UNEASINESS
 AGAIN DEVELOPS.
Result of the Renewal of Urgent, and Apparently Forced Liquidat- dation-Amalgamated Copper
 Sold for Boston Account.

NEW YORK, July 23.-Exctement and easiness developed again in today's stock mar
 ket as a result of the renewal of urgent and apparently forced liquidation. This was be- lieved to be due to the special needs of indi- viduals and the identity of these individuals was the subject of gossip and the usual appre- hensions. Amalgamated Copper was the cen ter of the excitement and much of the selling of 1t was said to be for Boston account as re- ports were received of a violent break in the copper shares generally there There was nothing in the news of the trade to account for the break. the metal advancing sharply in the London market Yesterdays cut in the price at the Metal Exchange here was not followed
 by further recession today. Wall Street showed considerable anxiety over the news of the failure of an important building firm ramifications in the New York department of that industry. The United States Realty shares uneasiness, mess notwithstanding n authorized asser- tions of the soundness of the corporations at- fairs. Amalgamated with it's !. of | per cent. dividend of sold down to 39% break of 5h, and the lowest price on record. United States Realty lost 2 and the preferred 5, the last. only A above the lowest. The fear that this violent liquidation was the outgrowth of the New England business trouble gave currency to many rumors of business embarrassment in New York, which were often due to the sharp declines in special stocks in which individual brokerage houses were believed to be largely interested. None of these rumors could be substantiated. Another unfavorable influence on the stock market the renewal of the violent speculative fluctuations in the cotton market with reports of purchase in Liverpool for reshipment to this country for the relief of the distressed shorts The stock market has been inclined to respond with declines to the
 jumps in the cotton market throughout the prevalence of the present cotton corner and It Is common belief that Wall Street operators have> been very persistent short sellers at the high leevls prevailing in the cotton market.
 The excitement developed In the corn market today also was detrimental to stocks, joined as it was to reports of hot winds in the corn
 belt and danger to the crop The suggestion of The Iron Age that the decline in securi- ties might check undertakings and thus adversely affect demand in that trade hurt the iron and steel stocks, especially those of independent companies. The United States Steel stocks not notably affected until the general weakness developed late in the day The standard dividend-paying railroad stocks also were inclined to resist the depression until | late in the day, but declines of between ! and | points from last night became fairly general | then The market had steadied near the last but Southern Pacifics downward plunge of 2$s | to 43 made the closing feevrish and irregular There were some violent declines in bonds, but few advances kept the tone irregular Total sales (par value). S2 2So ooo United States bonds were unchanged on call
 New York Stock List.