The Montgomery advertiser., 1903-07-26
WALL STREET FEELS SHAKY Many Bankers Gals for
 Margins.
 .s THE LIST soors s1HADlBs
  Prices for Americans in Lon
 don Better. Disappointment of Dealers Over the Showing of the Bank Statement Causes Market to Go Down. ward Again.


 business today with much anxiety. Yes terday's two failures and fears of more to come had worked the street up to high nervous tension. Brokers and their clerks worked until late last night, and fin some instanc .s all night, issuing calls to their customers for additional margins. The attendance on the floor of the ex change was unusually large for mid summer Saturday.
 Prices for Americans in London were generally better and helped to impart steadiness to the local market at the opening, but gains here were not up to those made in London. Orders to buy the standard railroad stocks were. well distributed. so-calied brokers taking blocks of New York Central. Almost every commission house had orders to buy at declines. The representatives of a leading Western house was reported to have purchased moderately of the Changers. There was also some buying of an investment character. The list steadied off by the end of half nour.
 Liquidation of Loans.
 Much of the early selling came from financial institutions and doubtless repre- scented further liquidation of loans for the account of the firms that failed yester- day This was obviously so In the case of such stocks as Rubber Goods and Mex ican Central. There were 2,000 shares sold followed by another 5000 lot of Rub- Der Goods at seven points decline. Mex ican Central stocks were slightly higher at the opening and the first income re covered points. Large blocks of the sec ond incomes were offered at a decline of 3-S. There was sale of Rubber Goods preferred at a drop of Il 1-2, the next transaction showing a per cent advance. United States Rubber preferred lost 1-S on one sale. A prominent trader bought 4,0O0 shares of Rubber Goods
 In the industrial list there were de- clines of g point or more in Colorado Fuel and several other Issues. On the l other hand. Steel preferred was stronger and marked recovery was registered by Anaconda, while Amalsamated Copper ductuated nervously.
 No additional information concerning the affairs of Talbot J. Taylor & Co. and W. L. Stow & Co. were obtainable to- day. The clerical forces of both firms were at work examining the books. as- sisted by expert accountants. Philip J. Britt. the assignee of Taylor & 1o., said tSAat he might have a statement later in the day. Latest reports place the liabil- tiles of Taylor & Go. at not less than s. OOO.0OO James R. Keene was at the office of Taylor & Go. all morning but denied himself to all interviewers. The assignee of Stow & Co. said that he would be un- l able to file even an approximate schedule of assets and liabilities before Monday.
 The market became stronger generally in the last hour on the belief that a fa- vorable bank statement would be issued. The list sold off again just before the publication of the statement.
 The active list made an effective rally before the appearance of the bank state ment. the level recovering generally to last night. Gains of to points were established for New York Central. Read ing, Northwestern. Alton, Colorado and Southern and Realty preferred. The weak stocks made some substantial rallies. The feature continued to be the violent de- clines In specialties which were supposed to result from sales of collateral for loans of the firms which failed yesterday and others upon which pressure was exerted Disappointment in the increase of loans reported by the bank statement cost the market it's gain and prices fell back gen, erally to the lowest prices of the first hour. The markept steadied momenta- rily. but ran off again, and the close was active and weak.
 Some of the Losses.
 The following list shows some of the days more notable declines in prices: Chicago and Eastern Illinois, preferred 9 1-2: Des Moines and Ft. Dodge, A 1-2 Distilling of America. preferred. Is 1-2; U. S. Rubber. preferred, H: North Amer lean. 15 5-S; Evansville and Terre Haute l 10 1-2: American Coal. 10; Pittsbrg. c. c. and St. Louis, 9; Minneapolis and St Louis. 8: St. Louis and San Francisco | certificates, ': Rubber Goods, preferred 1-2; American Linseed, preferred. 5; Buff falo, Rochester and Pittsburg. g.; West | inghouse Electric, 5: Baltimore and Ohio, preferred, 1-2; United Railway Invest ment. preferred. 1-2: American Linseed {; Cleveland, c. c. and St. Louis. 3 7-s; Delaware and Hudson. 3 3-4; Hooking Valley, 3; Iowa Central, 8.