Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-19
FINANCE AND TRADE
Stocks Weak Owing to Balti-
more Failures.
LONDON SOLD FREELY
INDUSTRIALS CONSPICUOUS IN
THE DECLINE.
Losses in Southern Preferred and Balti-
more and Ohio Reached Over
Two Points.
LONDON SOLD FREELY

NEW YORK. October 19-The failure Of
the Maryland Trust Company of Balti-
more caused a weak stock market today.
Liquidation was general but the decline in
Baltimore and Ohio and Southern railway
preferred was attributed directly to selling
induced by the failure. Those stocks.
United States Steel preferred and Amalsa-
mated Copper were notably weak but loss
es OF Ia to over points were quite gem
eral during the first hour. The industrials
were conspicuous in the decline also. Sell
ing by foreign houses owing to the re-
newed uneasiness over the far eastern sit
uation and the financial conditions in Lon
don aggravated the weakness.
Declines Of 1 to 1& were recorded by
Pennsylvania, New York Central, Balti-
more and Ohio, Southern Pacific. Rock Is
land. Canadian Pacific. Union Pacific. At
Gibson, Southern Railway preferred, ANAL
gamated Copper. United States Steel pre-
ferred. American Car and Tennessee Coal.
Confirmation of the rumored embarrass-
ment of the Maryland Trust Company OF
Baltimore led to flood of liquidating sales
from all quarters, under which prices
yielded further. dozen or more stocks
sold two points below Saturdays close. in
Guiding Amalgamated, American Car pre-
ferred, Smelling preferred Republic Steel
preferred, Locomotive preferred. Tennessee
Coal. Sugar. Pennsylvania. Canadian Pa
cific, Union Pacific, Southern Railway pre-
ferred and Missouri Pacific.
Selling of Baltimore and Ohio and United
States Steel preferred was particularly
heavy, and they fell 2$ and 2l5 respective
ly. American Car dropped 3. The market
showed no resistance at any point, and the
readiness with which stocks gave way I'M
der attack discouraged bull operators.
Pressure slackened for a time. but the rally
was spiritless that bear selling was re-
newed again.
The selling was less in the second hour
but only slight rallies In prices resulted.
led the slight upward reaction. Rock
Island fell 2; Delaware and Hudson, 2A st.
Louis Southwestern preferred, 212. and
Southern Railway preferred 3. There was
Steel Springs preferred. United States
Steel second fves declined ~. Other bonds
were little affected up to noon by the weak
ness in stocks.
A few stocks rallied in the neighborhood
OF a point, notably Sugar and U. 8. Steel
preferred. Otherwise prices were not
essentially changed from the noon level.
and business was very dull. General Elec-
trio lost 3.
Selling was resumed with vigor again
when the announcement of another trust
company suspension was made-that of the
Union Trust Company of Baltimore. Lead
Ing stocks sold lower than in the morning
break. and there was particular pressure
against the southern stocks
Union Pacific and Baltimore and Ohio sold
at 69k and 723s. respectively, and Atchison,
ST. Paul. Southern Pacific, New York Cen
trail, Reading. Illinois Central, Kansas and
Texas preferred and Brooklyn Transit were
added to the list of stocks which showed
losses of two points more. Steel pre-
ferred dropped TX and Amalgamated 2M
At o'clock the market was still on the
down grade. Westinghouse Electric fell
eight points.