Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-09
Outburst of Liquidation Starts
Prices Downward Again.
ALL THE STOCKS AFFECTED
Declines Of Two or Three Points
Were Common.
LONDON REPORTED HEAVY
Extensive Break in Prices Furthered
by Operations for Short Account.
Increased Business Volume.
ALL THE STOCKS AFFECTED
LONDON REPORTED HEAVY


Special Dispatch to The Star.
NEW Work. October "a fresh outhurst
of -liouida,Inn resulted in a substantial
lowering Of prices today in all depart
ments of the stock market. 1t has. in
fact. only fnfrequcnrly been the case that
the rnarHet has exhibited such universal
ity Of weakness pccl.rcs Of to points
Were common throughout the list.
1t would not he by any means easy to
assign specific reasons Of novelty for the
recmr.l3.c Of liquidation on such scale
as We noted today. The decline in the
stock market yesterday had, as super
fetal reason. the disappointment felt at
the failure of the Northern Pacific man
ager to Increase the dividend rate on that
stock
Searching for some specific explanation
of the severe decline in prices today.
Wall street was disposed To hit upon
the disclosures mad yesterday at the
Investigation of the affairs of the Met
ropolitan street railway system. Wheth
er the latter could be accepted as &C.
counting sufficiently for the course of af
fairs in The stock market must be mat
ter OF individual determination.
There was further talk today of serious
financial difficulties In Amsterdam and
In the stock market. all the shares in
which Dutch capital has been invested
were decidedly weak. although scarcely
more SO than many others without that
distinction.
Renewed Selling in London.
The London stock market was dull
and heavy, and renewed selling for
continental account was reported there.
Foreign houses sold quite freely in the
open market, and there was also good
deal OF liquidation on direct cable Or
der. 1t was doubtless the case that the
extensive break in prices was furthered
by operations for the short account. but
these did not appear to be particularly
aggressive, and. In fact, about the only
source of support which the market
showed upon occasions appeared 10 rep
resent nothing beyond the covering of
short contracts.
Notwithstanding the severity of the loss
es which were suffered in the various sec
lions of the market there was little oil
nothing in the way of actual news to be
elected in connection with the course OF
particular stocks. All the Industrial is
sues were notably weak, and while the
trade reaction might be cited in connec-
tion with their tendencies that is of 1t
self not a particularly novel point. Brook
Ign Rapid Transit, which IL thus far not
especially involved in the traction dis
closures, broke over 3 points. In the rail-
way list some attention was attracted by
the rather noteworthy weakness in all OF
the so-Called Gould stocks.
Sinister Rumors Circulated.
II was perhaps only natural that in the
absence Of any specific reasons for such
declines as occurred in the market sinister
rumors affecting the solvency of firms and
Institutions should again attain circula-
ton. This was indeed the fact In the
days situation. and. according to the
modern fashion in Wall street, the gossip
of this description was characterized by
little reservation.
Money market circumstances showed no
material alteration. There was very
large Increase In the volume OF business
in the DAYS stock market. and an I'M
usually wide diversiflcatiOn OF interest was
exhibited
The grain market was decidedly strong.
although the figures of the government
monthly crop report were fairly well IN
line with the common expectations.