The daily morning journal and courier., 1905-09-01

Yesterday-ReasOns Given-TechnicaI
 Conditions and Urgent Attempt to
 Lfquidate.
 Wall street woke up yesterday to find that prices could recede as well as go up.
 Whether the tide had turned for sure was the debated question.
 The public has so long been treated to spectacular advances and continued advances that it has become confident that the big prices had come to stay in- definitely.
 liquidation followed profit taking 50 it is maintained.
 There was considerable disappoint- mett because the market went off on peace news instead of rising some more, but the opinion gained ground that the peace news was made to sell on.
 The selling at various periods in the day was the most violent of any before In weeks.
 4 Most of the active stocks went off from to 3 points. The Fries held up pretty well, losing only about point as the net result. B. Late in the session the market rallied, but. it was again weak at the close.
 The United States Steels held pretty we'll. s4 -.. ..=..
 Lawson came out early in the day with a cry to stand from under, and followed it up late in the afternoon with an exulting bulletin predicting more music of the same kind. @' Efforts were made to show that there had been D. break, in the market for copper metal. but the largest consum- ers claimed that they were paying r cents for electrolytic. The talk was that the extreme weakness in Ama1- ganlated' Copper, Smelling, Reading, Union Pacific was due to the pressure from this source and to the inability of some of the pools, particularly in Reading, to carry stocks which show a heavy loss on the decline of the last few days. - ~-.-.
 There was at the opening big ag- gregation of selling orders that were left over from the day before.
 The sellers on Tuesday and Wednes- day were reported to be close to the throne, or, rather, close to the large in- side interests, while those of yesterday were regarded as the smaller fry.
 Many stop loss orders were reached on the decline.
 The bucket shops were reported to be "at it" again.
 Nearly all shares in which there have been violent advances recently were at- tackled, and as they showed little re- sistanee the bears increased their oper- ations and with more success than for long while.
 A good many persons, it now appears, had put in buying orders in stocks Wednesday morning genuine public buying orders-but had quickly cancel led them when they saw the market going to pieces Hundreds of specula- tive buying orders had also been en- trusted with brokers, many of which were also cancelled.
 There were a good many sales of stocks by operators who carry lines of 5000 to 15,000 shares and who are a1- ways ready to follow the current trend of the market whatever it may be.
 Another sharp recovery in Atchison was the feature. The source of the buying in this stock was not clear, but it appears to have been based on a plan to support the market.
 Together with Lawson's outcries came the prediction from Wall street that money would tighten to per cent. and that to-morrows bank statement would be a bad one.
 General denials that either Russia or Japan would put out any new loans during the next few months were with out effect on the stock market.
 New York Central's break of 4 points was considered ominous.
 Icontini1ed on Eiphth Papel