The daily morning journal and courier., 1903-07-21
gima,iriaI.
YESTERDAYS STOCK MARKER.
Another sharp Drop In Prices General
 Weakness.

Another Sharp Drop tn Pftces-GeMerni
 Weakness.
 New York, July 2O.-Liquidation was still manifest in to-day's stock market. The actual selling pressure was con- gested in individual stocks. The vol- tune of activity was not great in the general list, and the dropping tendency of the market seemed to be largely in sympathy with the weakness shown by special stocks. Professional bear tac- tics played part in the days declines. as was shown by the occasional rallies. But the demand on this account seem- ed to be soon satisfied and there was no disposition to pursue the buying on any advance. The high grade railroad stocks were less conspicuous in the weakness and showed some early posi- tive resistance to depression. But the weakness became general before the day ended. High priced inactive stocks continued to suffer severely from the execution of very light selling orderss as for some time past. Delaware, Lack awanna and Western broke 11%, to 236, on single transaction and immediately rallied several points, but sold as low as 235 later. The old Chicago, Rock
 Island and Pacific stock sold at 14J compared with the preceding sale last January at 200. Various securities ern-
 braced in the widely rannified Rock Isl and system were under severe pressure, l. Ta1o xxy1, sold at a new low record at 25. Sugges- tions of a project for new divisional arrangement of the system, involving a heavy issue of refunding bonds, were published during the day. It was be- 1 lieved also that the holdings of Rock Island, which were acquired as result of the absorption of the St. Louis and 1 San Francisco, were sought to be dis- 1 lodged and forced upon the market by l the attack of the bears. E | Another center of disturbance was l Amalgamated Copper, which dropped precipitately to 44ss, a. new low record. l The selling of this stock was unexplain- l ed by any news developments, but it's l weakness aroused rnisgivings among l shareholders as to the affairs of the corporation and induced additional sell l ing. Colorado Fuels fall to 50 was ac- | companied by rumors of the necessity of new issues to take care of loans which have been made. United States
 Steel sold at 25, and its weakness was
 a factor in the general depression of
 sentiment. Sugars break to low rec ord for the year was also not without l influence on sentiment. The market
 had fairly good rally in the last hour,
 but lost nearly all of it again before the | closing, which was weak. Money was slightly easier if anything, and the market for sterling exchange 1 hardened, apparently in response. Op- orators in stocks feel little hope of any demand for securities while active com
 petition for funds in the money market
 goes on among railroad corporations
 and wealthy individuals. ; l The weekly statistics of railroad traf- 1 fic show rather a notable decline in the grain movement, but general merchan- | disc continues to move in large bulk, and railroad officials profess an expect ation of an unprecedented traffic this ! fall.
 | There were some points of resistance | in the bond market. but other points
 showed weakness. Total sales par value
 $1, ,5S5,00O.
 United States bonds were unchanged
 on call.