The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-07-24
STOCKS ARE UNEASY
EXCITEMENT CREATED BY ANAL
GAMATED COPPER SLUMP.
Urgent and Apparently Forced Liquida-
ton Is Renewed, Attributed to the
Special Needs of individuals Whose
Identity is Observation-Disclosures Sources
of Uneasiness.

NEW YORK, July ENLIGHTENMENT and
uneasiness developed again in today S
stock market as result of the renewal
of urgent and apparently forced liquida-
ton. This was believed to be due to the
special needs OF individuals and the iden-
t1ty OF these individuals was the subject
of the usual gossip and apprehension.
Amalgamated Copper was the center of
the excitement and much of the selling
of 1t was said to be for Boston account,
as reports were received of violent
break in the copper shares generally
there.
There was nothing in the news of the
trades 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 today. Wall street
showed considerable anxiety over the
news of the failure of an important build
ing firm in New England as it was be-
lieYed to involve ramification in the New
York department OF that industry. The
United States realty shares Were made
to suffer acutely by reason of this I'M
eaSineSS Notwithstanding authorized as
surances of the soundness of the cor
porationS affairs.
Copper at the Lowest.
Amalgamated with it's half of / per
cent dividend off sold down to 391a a
break of 51a and the lowest price on rec
ord United States Realty lost 2 and the
preferred 5. the last named rallying 2
and Amalgamated closing only Il above
the lowest. The fear that this violent
liquidation was the outgrowth of the New
England business trouble gave currency
to many rumors of business embarrasS-
ment 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 rumors could be substan-
tiated.
Another unfavorable influence in the
stock market was the renewal of the vio-
lent speculative fuctuation in the cotton
market with reports OF purchase in
Liverpool for reShipment to this country
for the relief of the distressed shorts.
The stock market has been inclined to
respond with declines to the jumps in
the cotton market throughout the pre-
valence of the present cotton corner and
it is common belief that Wall street
operators have been very persistent short
sellers at the high levels prevailing in
the cotton market
Where Corn Comes In.
The excitement developed in the corn
market today was also detrimental to
stocks, joined as it was to reports of hot
winds in the corn belt and danger to the
corn crop. The suggestion of the Iron
Age that the great decline in securities
might check new undertakings and thus
adversely affect demand in that trade
hurt the iron and steel stocks, especially.
those of independent companies. The
notably affected until the general weak
ness developed late in the day The
standard dividend paying railroad stocks
were also inclined to resist the depres-
sion until Late in the day, but declines Of
between and points from last night
become fairly general then. The market
had Steadied near the last. but Southern
Pacific As downward plunge Of 2B to 49,
made the closing feyerish and irregular.
There were some violent declines In
bonds, but a few advances kept the tone
irregular. Total sales. par value, $780,
limited States m
ed on call.
Closing List