Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-07-10
Field Day for Bears in Wall
Street.
WHOLE LIST SUFFERED
ATTACK ON NEW YORK CENTRAL
THE FEATURE.
Losses in Some Of the Class g.
curities Reached as High az
Six Points.

NEW YORK. July 10-Opening prices in
stocks receded all around free offerings.
New York Central ran off q. There were
running sales OF 1000 shares of Reading at
80 and 491s. compared with JOh last night.
and the sale of 5000 shares OF United
States Steel carried 1t down H. Declines
reached nearly a point in Erie. Missouri
Pacific. Manhattan and Metropolitan Street
Railway.
Large amounts Of stock were thrown on
the market, offerings increasing as prices
reached q lower level. Blocks of 1O0
shares and upward were frequent and
there was sale OF 5000 United States
Steel at 2Sh Representative stocks among
the coalers. specialties, including United
States Steel preferred. Pacifics. Changers
and trunk lines. fell Ia and some of tho
inactive stocks to a large extent
The stream of liquidating sales in United
States Steel. Reading, Erie and New York
Central disturbed sentiment and other
stocks were unloaded frequently. New
York Central dropped points to 1917. Del
aware and Hudson 3B and Lake Erie and
Western preferred T.
The market was entirely dominated by
the heavy liquidation in New York Central
which fell to three points under last night
during the second hour.
Losses generally ran from 1 to points
and exceeded that in some less active
stocks. Cleveland G. c. and St Louis lost
6i1; Lackawanna, 8: Delaware and Hudson
AZ; American Express 4; Northwestern
preferred, 3. and Atchson. Northwestern.
Canada Southern. Iowa Central the st.
Louis Southwestern stocks Wheeling and
Lake Erie, Consolidated Gas and United
States Express, to 2i1 A number of
stocks touched the lowest of the year The
market steadied and became dull and
nervous. Bonds were heavy at noon.
m kat yNac chn
lived, as the higher range brought out fresh
offerings on a large scale which drove
prices down lower than before. New York
Central, ST. Paul, Atchison. Baltimore and
Ohio. Missouri Pacific and Union Pacific
were the most affected on the break. New
York Central sold at lis and St. Paul
touched 147A the lowest of the year. High
priced inactive stocks continued to dip
sharply. The market was steadier at 1
o'clock. but there were no rallies of con-
sequence.
Leading stock rallied from 1 to III on the
publication of the weeks currency move
ment. which showed a smaller cash loan
than expected. The improved range was
utilized to unload again and the market fell
off again to the lowest. st. Paul. Union
Pacific and Atchison sold a fraction lower
than their earlier low point.
Following a slight rally in the early
afternoon. the market again sold OF. a
number of active issues selling lower than
before There was utter absence OF
public buying. and commission houses re-
ported absolutely no demand
In spite of the many low records touched
in the course of the day. bargain hunters
fought shy of the market. which was al
most altogether professional The rally
of the early afternoon resulted entirely
from short covering. but traders took ad-
vantage of the lack of resistance and again
reversed their position.
On the curb the feature of the day was
a six-point decline In Northern Securities.