The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-07-24
Renewed URGENT SELLING,
DEPRESSES STOCK MARKET.
POSSIBLY DUE TO SPECIAL
NEEDS OF INDIVIDUALS.
Some Violent Breaks and Some
Advances in Bond Market
Concern Over Crops.

New York, July 2s.-Excitement and un-
eas,ness developed again in to-day's stock
market as a result of the renewal of ur-
gent and apparently forced liquidation
This was believed to be due to the special
needs OF individuals, and the Identity OF
these individuals was the subject of usual
gossip and the usual apprehensions. Anal
samated was the center OF excitement, and
much of the selling Of It was said to be
for Boston account as reports were re-
ceived OF violent break in the copper
shares generally there. There was nothing
in the news OF the trade to account for the
break. the metal advancing sharply IN the
London market Yesterdays cut in the
price at the Metal Exchange here was not
followed by any further recession to-day.
Wall street showed considerable anxiety
over the news Of tho failure of an impor-
ysas believed to involve qualifications in the
New York department OF that industry
The United States. Realty shares were
made to suffer acGtely by reason of this I'M
easiness. Notwithstanding assurances of the
soundness Of the corporations affairs.
LOW RECORDS.
Amalgamated. with its one-half OF / per
cent dividend off. sold down to 3e24. q break
of 5a and the lowest price on record. Uni
ted States Realty lost 2 and the preferred
6, the last named rallying 2. and Amalga-
mated closing only u above the lowest The
fear that the violent liquidation was the
outgrowth of New England business trouble
gave currency to many rumorS of business
embarrassment in New York, which were
often due to the sharp declines in special
stocks in which individual brokerage houses
were believed to be largely interested. None
Of these rurnors could be substantiated. An
other unfavorable element of influence on
the stock market was the renewal of the
violent speculation in the cotton market.
The stock market has been inclined to re-
spond to the declines and jumps in the cot
ton market throughout the prevalence Of
the present cotton corner, and II is COM
mon belief that Wall street operators have
been very persistent short sellers at the
high levels prevailing In the cotton market.
DANGER TO CORN
The excitement developed in the corn
market was due to the hot winds in the
Ncorn belt and danger to the corn crop The
suggestion of the Iron Age that the great
decline in securities might check new un-
dertakings and thus adversely affect de-
mand in that trade hurt the iron and steel
stocks, especially those of independent COM
panies. The United States Steel Corpora
ton was not affected until late in the day.
The standard dividend-paying railroad
stocks were also inclined to resist the de-
preston until late in the day. but declines
of between l and points from last night
became fairly general then. The market
had steadted near the last, but Southern
Pacific's downward plunge OF 23s to 43 made
the close feverish and irregular.
There were soEIe violent declines in
bonds. but few advances kept the tone
irregular. Total sales, par value s. 2s0OOO
United states bonds We're UNCHANGED