The daily morning journal and courier., 1907-03-06
STOCK MARKET FEATURES
ANOTHER VIOLENT COLLAPSE
 WITH HEAVY DEALINGS.

WITH HEAVY DEALINGS. Forced Liquidation Go On Especially in the Pacific Stocks-Semi-Panic Condition ct Closing-Atchison, II. R. T. and L and N. Were Also Weak Pennsy's Report.
 There was another violent collapse in | stocks in ttle two last hours of the | stock market yesterday, during which | some sensational losses were scored. | The worst sufferers were the Hartman issues, St. Paul, Amalgamated Copper Atchison and various minor industri- als. Extreme declines extended to 4 and points in many issues, while some lost even more, closing prices of almost all stocks showing losses of 8 to 15 points since Saturday.
 Great confusion reigned in brokerage houses during the afternoon, not only because many customers were compell- ed to let go of their holdings, but be- cause of the fear that failures might result if the decline went much further Rumors were current in the afternoon that large margined accounts were be- ing sacrificed.
 Of news developments which were calculated to disturb stocks one of those pointed out as particularly unfa- vorable was the reported passage of a bill by the South Dakota legislature re- ducing freight rates 10 per cent Sev- eral important railroads pass through that state.
 There was nothing new from Wash ington regarding the procedure against Union Pacific but that the holdings of various persons identified with Union Pacific control were being liquidated seemed to be a common view. Tne collapse in Atchison was reported as due to selling from the quarter mem tioned, possibly also selling of Union Paclhc holdings.
 Support came to the market yester- day when stocks seemed on the verge of going to pieces.
 Just before the market closed Union Pacific sold down to 16S 9-4 Atehison 92, Amalgamated Copper 105 12, St. Paul 14O IA Brooklyn Rapid Transit 58 and United States Steel fl Is. The whole market was demoralzed by these breaks, which brought the general list to the lowest of the day.
 Liquidation of the urgent kind shown recently broke out at. the opening. It represented selling by those who could not or did not care to respond to Mon day nights imperative calls for more margins,
 After touching 60 just before the close there were running sales of Brooklyn Rapid Transit of 100 at 59 7-S, 100 at 59 1-2, 100 at 59, 100 at 5S 1-2; then it dropped another one-half point to 5S on the next sale. This showed a break of 21-2 points on sales of 800 shares yesterday.
 Pennsylvania's annual report check. ed the liquidation in the stock. Il made it apparent that the per cent dividend can be maintained for a while at least, inasmuch as the amount earned on the capital was nearly il B. per cent, or about 3-4 per cent. more than in 19O5
 Atchison's sensational decline in the afternoon from 99, Mondays closing to 93 IA by o'clock-about 6 points was the center of interest. It touched 92 in the last fifteen minutes. Reports rapidly flew around that MT. Hartman was selling out Union Pacific's hold ings of that stock, or was selling stocl which he personally was reported al holding.
 Southern Pacific acted poorly. WheI the rest of the market was rallying i hung back around S7 1-2. A room trad CT sold 10000 shares, and brokers rep resenting important interests supplied the market with all the stock it would take. It is now down to S4, off i points, and is on about a $ per cent basis.
 The violent break in the last hour following a sagging tendency all of th afternoon, greatly disturbed sentiment Many thought that the worst had beel seen on Monday, and for that reasol they looked for better market yes terday.
 Brokers found that the borrowing de mand for stocks was smaller than ol Monday. but in spite of this there wa u ..ou 4 lnn1 .f I,,1,ti1,r Q fn1, tIn ehn1,t q q