The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-07-21
STOCKS SELL
VERY FREELY
Pressure TO Unload Is Again
Noticeable
PROFESSIONAL TACTICS
Bears Play All the Cards They
Hold.

New York. July 2o-Liquidation was
still manifest in todays stock market
The actual selling pressure was longest
ed in individual stocks. The vslume of
activity was not great in the general
list and the dropping tendency OF the
market seemed TO be largely in sympathy
with the weakness shown by special
stocks. Professional bear tactics played
a part in the days declines as was
shown by the occasional rallies. But
the demand on this account seemed 70 be
satisfied and there was no disposition TO
high grade railroad stocks were less
conspicuous in the weakness and showed
some early positive resistance 10 depres-
sion. But the weakness became general
before the day ended. High priced in
active stocks continued TO suffer severe
~ from the execution OF very light sell
ing orders as for some time past Della
ware Lackawanna and Western broke
II 81 TO 255 in a single transaction and
Immediately rallied several points. but
sold as low as % later The old Chi
cago. Rock Island and Pacific stock sold
al III. compared with the preceding sale
last January at 200. Various securities
embraced in the widely ratified Rock
Island system were under severe press
ure, including Rock Island common.
which sold at a new low record at D.
Suggestions of project for new d.
visionaI arrangement of the system in
volving a heavy issue Of refunding bonds
were published during the day. 1t was
believed also that the holdings OF Rock
Island. which were accounted as a re-
suit Of the absorption OF the 81. Louis
and San Francisco. were sought 10 be
dislodged and forced upon the market by
the attack OF the bears. Another center
of disturbance was Amalgamated Copper,
which dropped 70 II S-S, new low rec
ord. The selling Of this stock was uneX-
planned by any new developments. but its
weakness aroused misgivings among
shareholders as TO the affairs OF the cor
poration and induced additional selling.
Colorado Fuels fall to 50 was aceompsn-
led BY rumors of the necessity Of new
issues to take care Of loans which have
been made. United States steel sold az
%, and its weakness was a factor in
the general depression of sentiment.
Sugars break 10 a low record for the
year wac also pot without influence on
sentiment The market had a fairly good
rally on the hour, but lost nearly all Of
it again before the closing. which was
weak. Money was slightly easier If any
thing, and the market for sterling ex-
change hardened. spparentiy in re-
sponse- Operators IN stocks felt little
hope OF any demand for securities. while
active competition for funds in the
money market goes on amongst rail-
road corporations and wealthy individ
usls. The weekly statistics Of railroad
traffic show rather a notable decline in
the grain movement. but general mer-
chandise continues TO move in large bulk
and railroad officials express an expecta-
ton Of an unprecedented traffic this fan
There were some points OF resistance
in the bond market. but other points
showed weakness. Total sales, par value.
81 SIS. 90. United States bonds were IN
changed on the last call
Closing quotations Of stocks were az
follows: