Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-09-25
LIQUIDATION
STILL CONTINUES.
Many Stocks, Leaders and Others,
Registered Further Severe
Declines.
STEEL MADE new LOW RECORDS
Prominent Banking Interests Make
Investigation Which Shows No
Dangerous Features.

New York, Sept, 25.-Yesterday's liquida-
ton IN the stock market was very gener-
ally renewed at the opening today, and
further severe declines were registered. All
the United States Steel issues dropped to
new low records the common selling as
low at 1875, following opening sales Of 1000
shares at from 1873. to l6h. The preferred
stock declined to 62A and the per cent
bonds were quoted at TIA, drop of Y
point from yesterdays low price, The
market steaded soon after the opening on
buying orders which seemed IN the nature
OF support ana were said to emanate from
strong quarters. There was also n great
deal OF short covering. Reports that lead
ing financial interests had formed an
agreement to support the market today
could not be verified
Save for slight reactions the market
continued steady up to noon at prices
slightly below the top Business showed
marked railing on from the carly ac-
tivity.
shortly after noon the market again de-
clned as result OF another drop IN the
steel stocks which carried them stu low
or. The common stock sold at 10, the pre-
ierred at 0Oi4 and the per Gem bonds at
IL. he selling OF these securities was
very general and unexplained The rest
Of the list went down IN sympathy.
The heaviness of the general market
Was reflected on the curb, the most
noteworthy feature there being a ) per
cent decline IN lnterborough Rapid Tran
ST, break Of over points in two days.
The industrials on the curb were all
weak.
The Evening Post says today,
Prominent banking interests an
terdays market they had Undertaken an
investigation TO see whether there were
any weak houses In the Wall street re-
glon. This investigation, although infor-
NAL was conducted by interests of such
extensive connections as to make II unus-
ually trustworthy. They made the un-
equlvocal statement today that the sltua-
ton had developed no dangerous features
and that not single stock exchange
house was In the slightest way cmbar
raised They said however, that the
| feeling of uncertainty prevailing in most
| quarters had gwen rise TO many rumbrs
all Of which were without foundation SO
| far as they related TO the stability of any
| large interest"
Inc opening dealings in stocks disclosed
| continued weakness at some points but
| support was accorded at others The re-
| SUIT was a feverish and irregular tone,
| United states Steel securities were con.
| spicuous example, all three opening at
| new low records The sale OF 500 shares
! Of the preferred carried II "A under yes
| terday's closing, There were 1903 shares
| common steel sold at 1914 to 1874, com
| pared with NJ, last nights closing and
| the second mortgage bonds sold at ma, a
| decline Of ". There were running sales
| of Atchison at U2la to 62ii, compared with
62Ss last night, The changes otherwise
were fractional and pretty evenly mixed
| between gains ana losses, A sale OF Loo
| shares of United States Steel az l6ls the
| lowest ever recorded, marked the end OF
| the opening declines. Supporting orders
made their appearance IN All quarters and
| prices were bid up rapidly on large trans-
! actions Prominent stocks rose well above
yesterday close, the Improvement reach
! INK ldli2 In st. Paul, Missouri Pacific,
| Union Pacific, Texas a Pacific, Reading,
Baltimore n Ohio, Louisville, New York
| Central ana Amnlgdm0ted copper. United
| states Steel rallied 10 IA and the pre-
ferred To 6iis The support did not follow
| the advance far, ana prices reacted, but
! sicadied again with qmeter market a
| few losses NJ note occurred before the
| General Electric 2 In Hooking Valley and
| Wheeling ~ Lake Erie iirst preferred, and
In Wisconsin Central preferred, When
! II was seen that support was renewed on
the reaction the hears covered freely and
lifted prices considerably higher, New
| York Central. Union Pacific Missouri Pa.
cihC, Baltimore u Ohio and Amalgamated
Copper were the largest gamers LAX,
! islAt q NfrN'lH ltAl - AHN'illhAlNNdl IAlnl
"a, Iowa Central preferred IN Pullman
3A. and Linsecd Oh preferred and SNUFF
preferred G.
The market was slightly lower but dull
| and steady at noon.
a bear arrive against United States Stec
preferred 10 uncover stOp-l0ss order.
broke the price TO 6Oi4 aud procipitatet
heavy liquidation In the standard stock.
and specinltics United States Stce
touched 10 and tho second mortgage pei
cent bonds H. Many Of the active stock,
lcll below the opening low price partlcu.
larry Missouri Pacific Reading Rock Isl
and ana ST. Paul Railroad stocks gen,
orally lid not got much away from yes
terday's final figures. support appeared
again IN United States Steel preferred
nnd It's recovery TO CO carried the genera
list up point or moro m many instances
| Trading became very quiet on the rally
The market showed more stability on
It's last rally, The manifest buying ion
support In many stocks induced NOR,
general short covering and the market re.
traced IT'S course to the high lowell OF tn,
! forenoon, Tn some instances better prlcei
were Obtained but advances of point oi
over were well distributed throughout The
uCtiVF list