The daily morning journal and courier., 1903-07-24
gtt1alrcfaI.
YESTERDAY's STOCK MARKET.
Nothing in News so ecou nt for Further
 Break.

Break.
 New York. July 23.-Excitement and
 uneasiness develooed again in to-day's stock market as result of the re-
 newal of urgent and apparently forced 1 liquidation. This was believed to be
 due to the special needs os individuals | and the identity of these individuals was the subject of the usual gossip and
 the usual apprehensions.- Arnalgamated Copper was the center of the excite
 ment and much of the selling of it was said to be for Boston account, as re- ports were received of a violent break ] in the copper shares generally there. There was nothing !n the news Of the trade 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 to- day. Wall street showed considerable
 anxiety over the news of the failure
 of an important building firm in New
 England, as it was believed to involve
 ramifications in the New York depart
 ment of that industry, The United States realty shares were made to suf- fer acutely by reason of this uneasi- ness notwithstanding authorized assur- ances of the soundness of the corpora
 tion's affairs. Amalgamated Copper
 with its 1-2 Of per cent. dividend off sold down to 39 3-4, break of 5 1-2, and
 the lowest price on record. United
 States Realty lost ? and the preferred }, the last named rollying and Amal- gamated closing only IA above the low est. The fear that this violent Iiquida- tion was the outgrowth of the New
 England business trouble gave, curren- cy to many runnors of business embar- rassment in New York, which were of- len due to the sharp declines in special stocks in which individual brokerage houses were believed to be largely in- terested. None of these runors could be substantiated Another unfavorable influence on the stock market was the renewal of the violent speculative fuc- tuation in the cotton market, with re- ports of purchase in Liverpool for re- shipment 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 cot ton market throughout the prevalence of the present cotton corner and it is common belief that Wall street opera tors have been very persistent short sellers at the high levels prevailing in the cotton market. The excitement de- veloped in the corn market to-day was also detrimental to stocks, joining 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. United States Steel stocks were not notably affected until the general weakness de- veloped late in the day. The standard dividend paying railroad stocks were also inclined to resist the depression until lote in the day, but declines of be- tween 1 and 2 points from last night became fairly general then. The mar ket had steadied near the last. but Southern Pacific's downward plunge of ? S-s to 4s made the closing feyerish and irregular.
 There were some violent declines in 4 bonds btu a few advances kept the tone irregular. Total sales par value s2,2S0.0o0.
 United States bonds were unchanged on call.