Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-07-24
Keene, had failed.

New York, July 24.-Powerful inter-
ests in Wall street yesterday went
"a cunning for John w. Gates, head of
the big western pool Of operators, and
his associates. and the result was a
heavy sale of miscellaneous stocks
which fairly demoralizeo the market.
Prices yesterday afternoon fell from
one to five points and more. Industrial
shares were the chief sufferers, but rail-
way securities declined Sharply in sym
pathy.
The operations of the western men in
the past have aroused strong antago-
nism in various quarters. One of the
most prominent of these deals was
the wrestling of louisville & Nashville
from the men who had long con-
trolled it.
Harris. Gates & Co., thru whom the
western men chiefly operate, sold, ac-
cording to Wall street report yesterday.
10000 shares OF United States Realty,
$4,000 Reading, $500 Louisville &
Nashville. 10000 Pennsylvania, 5000 St.
Paul 5000 Copper, 5000 New York
Central and 1000 Northwestern-in all
| $4,000 shares.
Another feature of the market which
contributed to its decentralization was
heavy selling of Amalgamated Copper,
reported 10 be for the account OF prom
liEent New York copper men. which
carried the price to it's lowest level
33M. 1t was reported that this inter-
| est, for which the sales were made, has
been tied UP in a certain staple mar
ket.
| In connection with these movements
| the street rumor had it that lenders had
refused to renew maturing loans, and
THAT certain operators were forced to
Throw stocks upon the market.
| Express companies said yesterday
THAT they have recently brought large
Iamounts of stock from western cities
| for delivery here.
| There were in circulation many ru-
mors. usual at such times. affecting not
only stock exchange houses, but the
leredit of large companies.
| There were stories going the rounds
Iof the street to the effect that two or
three interests which were about to be
sold out by their brokers were called to
No. 26 Broadway, where the Standard
LON people have their headquarters, and
there, 1t is said, transfer Of holdings
was privately effected
The failure of a contracting firm in
Toronto was announced. and had BAD
effect. as did the continued manipula-
Ition of the cotton market.
| Heavy selling occurred in Mexican
Central, based upon report that Mexi-
can Central interests offered an equiva-
lent of per cent for loan of $1,000
600 for a. year, but could not obtain the
accommodation.
| Reports of hot winds in the corn and
wheat belts aided the bear crowd.
| London added to the decentralization
by selling 10000 shares on balance.
| A prominent banker said that he ex-
pected to see very firm money rates
! for the rest of the year. The rates for
time money over Jan. l were very
strong again yesterday.
| 1t was reported that a meeting of the
directors of the Western Maryland rail-
road was held yesterday at which ar
arrangements were made to remove the
| friction between the Goulds and the
Pennsylvania people, and report was
circulated that the Pennsylvania rail-
Iroad might acquire control of the West
| ern Maryland.
The stocks showing the greatest loss
| s Yesterday were Amalgamated Cop
Der. United States Realty, Tennessee
Coal, Brooklyn Rapid Transit, Colorado
Fuel, Reading. and Rock Island.