The Birmingham age-herald., 1903-06-09
SEVERE INROADS
 ON STOCK PRICES  There Was a Renewal of Active
 Liquidation SELLING IN CORN CARRIERS In the Last Hour of the Market the Liquidation Has Spent It's Force and Room Traders Bid
 Up Prices.
SELLING IN CORN CARRIERS

New York, June s.-Further severe in- roads upon prices of stocks were made today under a renewal of active liqulda- tion. In the last hour of the market this liquidation had apparently spent its force and in order to cover their short con tracts, the room traders were obliged to bid up prices from to 11z for the active stocks. curtailing by that much the ex- reme losses of the day. The principal selling was amongst the corn carriers and the cotton carriers and the coalers also were also subject to heavy selling pressure. These movements were based in part upon the belated planting of the corn crop, the poor condition of the cot ton crop and the fears that labor trou- bles will again break out in the anthra- cite mining region. An unoonhrmed rumor that the new Rock Island author ities are taking steps in the matter rates that threaten widespread unsettlement in their territory was current, but 1t was not clear that 1t had anything to do with today's weakness. Rock Island it. self was not as weak as some other rtocks The decline of over three points in Atehison and the heavy dealings in that stock combined to make it the most conspicuous in the days trading. The sss point decline in Reading was some what sensational in view of the recent support in that stock and some of the Northwestern stocks, with important corn traffic shared In the days weakness. Chicago and Northwestern sold down to 169 and Northwestern securities on the curb went to a new low record. It was to be expected from the showing made by the banks in the Saturdays statement there was some calling of loans and forced liquidation as a result.
 The selling came from many directions, London joining in the early offerings on account of the advance in the discount rate of the Imperial bank of Germany. Commission houses also were very gem eral sellers on orders from many parts of this country. A small engagement of gold for export to Germany was noticed but this was without special effect as the question of large exports was an open one, in spite of the lowering of the ex- change late, owing tc the demand for money in Germany and the decline in the Berlin rate at Berlin and at Paris. It is reported that German banks In their eagerness to obtain allotments of the lately issued imperial loan have commit ted themselves so largely as to demand recall of German credits placed abroad. Demand for money in Germany Is also attributed to reviying industrial activity. In our own market preparation is being made for the payment of an installment of $7,500,000 of the subscriptions to the Metropolitan Securities Company, due on Wednesday. The fifty per cent install- nlent on the new Pennsylvania stock call ing for $45,000000 is payable from June 15 to June P. although 1t is understood that the Pennsylvania company's six months loan for $40 100000 secured last January is to be paid off with the process of the subscriptions. In spite of the se- were declines today, there was singular little talk of financial embarrassment. The close was about steady with the rally.
 Bonds were irregular. Total sales par value $2-4O5, 900. U. s. bonds were all un- changed on the last call.