Omaha daily bee., 1903-06-11
NEW YORK STOCKS AND BONDS.
Prices F1uetuRte sharply on Feverish
AnxIetr of TrofesainnnIs.

NEW YORK June 1O-Enormous liquida-
uon. heavy covering OF short lines and the
feVerish eagerness Of the professional room
traders to follow the uncertainties of the
market caused constant and violent fluc-
tuauons In prices today. The tone at the
close was wholly unsettled and prices gen
orally within fraction of the lowest which
is the lowest for the current movement.
some sGme OF OFT these % prices on the zo1 morning
peake Ohio, 35h; Norfolk & Western,
&; Pennsylvania, 123h; New York Central,
Pacific, Il; Southern Pacific, l6 Erie, 2Sis:
Reading. ass; Ontario & Western, 2l2l
southern Railway. y; Louisville & Nash
Vile, 1O51s; United states Steel, 2S7s, the
preferred, 7sA, and Amalgamated Copper,
81. The enormous volume of the selling or
ders and the violent declines in prices gave
covered bears and they bought heavily at
the decline. The character of the market
showed technical signs OF the elimination
OF the movement both on volume and pre-
cipancy and the bears therefore were the
more disposed to cover their shorts. The
market made a substantial recovery during
the midday period and n good many of the
principal stocks on the list were lifted fairly
above last nights level. The late decline
was curiously uncertain and hesitating and
on much lighter volume OF dealings than
the first break Missouri Pacific was the
principal sufferer with a decline to 80.
Wabash dropped to 1874 the preferred to
4OA, and Rock Island TO 31A
The opening this morning was excited and
demoralized under the avalanche Of selling
5000 shares of Atchison, 5000 shares of Erie
and LOCO to 5000 shares of all the principal
speculative stocks The source of the SELL
ing was not well understood nor was there
anything in the news of the day to provide
motive for liquidation on such a scale
The break in the market however. was
generally expected. Foreigners we're heavy
sellers here and the character of the in
quirtes cabled TO New York indicated the
suspicious state of mind toward the gen
eral business situation in this country. The
sensational split in the British cabinet
caused some reflected depression
from the London markets The disastrous
Hood conditions in st. Louis renewed ap-
prehenslons, or rather confirmed them,
upon which there waS selling earlier in the
quieted into a hope that the worst was
over. The rise in the grain markets gave
a sharper edge to anxiety over the crops
and there was a fear that the government
crop report to be published after the mar
ket closed would have some unpleasant
surprises. The investigation by the Inter
state Commerce commission of the anthra-
cite combination causes anxiety among the
shareholders. Reports of intended re-
trenchment In expenditures for betterment
by the Baltimore & Ohio and other rail-
roads and the differences over rates be-
tween the gulf lines and the Chicago Kan
sas City lines added to the disturbed feel
ing. The money market gave no immediate
clue to the urgent and apparently forced
liquidation, but the low state of the bank
reserves, the payment today of ST. 100000 on
Metropolitan securities subscriptions the
reported intention to ship 5000 900 to South
america on Saturday and the prospect for
demand for currency from San Francisco
pointed to pressure on money resources
Tho violence of the declines gave rise to
much vague uneasiness that financial en-
barrassment would result but diligent in
quiry failed to discover any knowledge of
weak spot In the financial situation II
was the general belief that some enormous
individual stock holdings were being lioui-
dated for account OF wealthy capitalists
who possess sufficient means to meet the
loss without falling in their obligations to
others. The glrinkaRa In Nd %
the basis for credits is in itself an i'm
portant element in forcing the selling of
securities.
Bonds were in sympathy with stocks
Total sales par value, s., $50 900. Bonds were
all unchanged on the last call
Following are the quotations on the New
York Stock exchange.