The St. Louis Republic., 1903-10-20
CLOUDS OF APPREHENSION
GATHER OVER WALL STREET
BALTIMORE FAILURES PRE-
CIPTTATE SELLING.
London Strongly Disposed to Get
Rid Of Americans-Close
= Substantially Lower.

New York, Oct. 1s-Ctouds OF apprehen-
sion gathered over the stock market again
to-day and the prices OF practically all
of tbs prominent active stocks were I'M
paired from to points before the selling
was checked The appointment Of receivers
for two Baltimore trust companies was
the hupeIEnE causes OK the selling. Weak
ness was In evidence from the opening,
and, in fact. before that. London sending
a decidedly lower range OF prices. as a
result OF the early trading there. 1t Is
probable that ths weakness OF Americans
in London also emanated from Baltimore
IS one Of the embarrassed companies
made efforts to secure loan IN London
last week. thua Offering thar center ad-
vance knowledge Of the trouble. London
also professed renewed apprehension over
the war cloud in the far East and ~
trouble at last weeks settlement, which
was uded over. was likely TO crop out
again London sales In New York, as a
consequence, were heavy, being estimated
~ among the foreign houses al us high as
600 shares How Ear the Baltimore
troubles were directly responsible for the
forcing Of stocks was not very clear, but
the special weakness OF some OF the South
EN- railroad stocks Indicated selling from
that quarter.
STOPS THE RALLY.
The sentimental effect OF the failures
was also strong and put a stop entirely
10 the hopes OF better prices aroused by
last weeks sharp rally In the stock mar
ket. That rally. having driven q con-
siderable short Interest TO cover. left the
lhaFhet deprived OF some potential sup
port and made II more vulnerable TO
Sti-lL-- Inc line Of division which be
San 10 develop last week between the
ialroad stocks and the lGdUstrIals. was
s-so oLitcrat-i. The leading railroad
O. H.
il-EsiI-ltS, ass - shown hy the declines
Of 70 81 made iy bait more and Ohio.
HoutAgEn Railway preferred. Illinois Cen
lIah Union IEglur- southern Pa aaitIs and
lliSsau Pacific The only prominent in
auStTialE which suffered 10 as larcr. an
extent We're United States Steel preferred.
ANA t2aI1atet Copper the American car
STOCKS. Genera. Electric and W,stiuEhouse
Electric, the last named dropping points
The Baltimore failures seemed TO be due
10 'He same causes which have necessi-
tatezt the greater part Of the prolonged
Ecu.laUon In the stock market. namely
over commitments IN the promotion and
,iialer%r rit,nE ~ new enterprises, the Sc
cu-ucs of which have no market in the
present state o. the money market and
public sentiment.
SELLING RENEWED.
There has been e. growing hone that the
Liquidation made necessary by this kind
OF POOR Investments was approaching com
piction- The revelation that IT has been
Intellectual 90 such IN extent as disclosed
by the Baltimore failures causes the draw
Ing = Eu40-1to-tah!e differences. 1t is a
remarkable fact also that T.. 20 today
the aCnrLau7 shrllkG-e iG the value OF
fa.lTiIes and tho urgent requirements.
Ni.--A nave been -lrt in liquidation had
!."- caused single failure in The Ialk-
liE ana trust company world. Rcr -surfuc
sl' 'il17,-E were published ss % rna linz
lLra fed NJ She Baltimore troubles. hut
- ~ .2- l1a'L a.a.' f' cheer the SEN
IiI.r .r'I In The stock market. There was a
il..-.E -lGEa .0 the decline after tHe
cgIT-et-1l Df lGa London selling Tur the
IuunuuczweT, af rhr second EaIt.r7ora
'-I caused renewal Of tho decline
Win increased violence. ard the closing
lowest IL-n.s Central -.aae a spaS-loIic
recovery nf 10.
The bond market Welded I'm sympethy
WIJh stgsEs z--.r some elrly resistance
Er-Hl sales ~ bonds uar value. were 81 -
'.rn.'- United States haad7 were un-