The Topeka state journal., 1903-05-28

Wall Street New York. May 2s.-
STQCkS-There was evidence of a renewal
or liquidation in the opening dealings in
stocks, causing fractional declines through
out the list The weakness of the London
market increased the selling pressure
here. Amalgamated Copper dropped 1ss
points and realizing in National Railway
Of Mexico preferred depressed that stool
rs points. Losses of about a point were
scored by Rock Island and Leather pre-
ferred and Union Pacific declined q point
Wall Street, New York May Is
STOCKS-The stock market was very
weak on the execution of heavy selling
orders Amalgamated CopDer on heavy
liquidation. declined more than points
The bulk of this selling was reported to
come from a prominent pool and was due,
Iintos for Paris account. The price of the
metal in London also was lower. Stocks
cluded Rock Island which declined over
points. Canadian Pacific. Union Pacific,
Missouri Pacific. St Louis and San Fran
cisco, St. Paul Atchison. New York Cen
tral. Reading and a number of other
9tandard issues. The list steadied some
what in the early afternoon. but the an
dfrtcne continued weak.
Selling was. resumed from all quarters
after the midday period Of dullness and
earlier losses were extended a traction in
the Pacihcs. St Paul. Analgamated and
United States Ship preferred. Other stocks
hugged the point closely and showed lit
Tie indlctlon Of recovery Sugar broke ~
points Consolidated Gas 3la points and St
Louis and San Francisco points. but the
last named raIlled li2 points IeXas ana
Pacific Land Trust advanced 4 points
Rock Island was poured out a de-
seendlng price scale until + reached 54s4'
a loss of 12s points. The liquidation was
apparently checked and it steadied around
g. Further losses were made in other
active stocks before the market turned,
but only in Louisville was the loss i'm
portant that stock declining IL points.
point rally in Leather preferred. before
the decline was renewed with violence. On
the second break ST. Paul. Union Pacific.
Atchison and Amalgamated Copper sold
lower than before and the general list
came back to about the opening range.
st. Joseph and Grand Island first preferred
lost points Hooking Valley and Union
Pacific Pacific Mail, General Electric and
Pressed Steel preferred about a point The
market steadied and became dun after the
The character of the selling in evidence
with the purpose of disiodging vulnerable
accounts. On the decline there We're indi-
cations of heavy unloading by long stand
ing pools and prices broke rapidly Anal
gamated Copper ran off 3ia points under
continuous stream Of offerings and its sub
Sldiary STOCK. Anaconda, bFeke f12 points.
Rock Island was under severe pressure and
was forced down 28s points Canadian Pa
cihc slumped ~ points. Union Pacific ran
off l9s points Northwestern points md
the active list generally I to 11a points
There was a drop of points in Sloss-Shef-
field 21s points in United Railway Invest
ment preferred and 3 points in United
States Rubber preferred. Short covering
rallied Amalgamated Copper 1ss points.
Canadian Pacific 1 point and Anaconda. 2
points. Missouri Pacific made good re
cQReFN. put tHe ially seheidlis Was lSNSt-
ish and led to dull trading at once. Rock
Island bonds were weak and the bond
market generally irregular at noon.
A pause in the selling brought only
feeble rally to prices outside B. and O.,
which recovered fully. Bear professionals.
noting the futile attempt to force rally.
attacked the market again and forced the
level Of prices substantially lower than be-
fore. Declines below Yesterdays close
reached 42z points in North American. 45s
points in Anal gamated Cooper 3is points
in Canadian Pacific. Rock Island preferred
and 31 points in Pullman and to 25s
points in Rock Island Union Pacific. St.
Paul and Brooklyn Transit. Rallies of a
point were made by a few stocks, but were
not well held.