| Show i STOCK PRICES I GOING DOWN HILL Apparently Everything in the Financial World Is Greased for the Occasion HOLLANDERS IN TROUBLE RUSH OF SELLING ORDERS FROM FROMI ABROAD I New Oct 9 There were evident signs of renewal of or liquidation of securities securities securities ties today todar the current selling with special clearances through the tho those selling below M 44 being most affect affected ed cd The majority of the stocks in this tilts I classification sold today at the lowest prices of the tho year and made with de declines declines clines dines in the course courso of the days dealings Stocks Stocka of or this grade are favorites in Hoi 1101 Hoiland Hoiland land and those that are most so were the most affected in liquidation The selling orders were said by commission I houses to come direct by cable from Am Amsterdam land tand were so concentrated and conspicuous as to give rise to reports that financial embarrassment in Amsterdam was forcing the liquidation Other stocks both among tho railroads and Industrials especially esp among the payers came into the movement today toda The rhe Amsterdam selling was attributed to difficulties peculiar peculiar peculiar liar to that market and was not associated a associated soci with conditions t I the properties in inthe inthe inthe the stocks which were werl being sold On the domestic side however industrial and financial conditions were an influence and prompted liquidation supplementary to that for foreign accounts Growing mis misgivings misgivings givings are caused by the persistence of oC rumors of falling off in orders for various classes of or equipment and of reduction of labor forces In several Industries Both the railroad and electrical equipment stocks suffered Buttered acutely today from the dissemination of oC rumors of this kind and k the authoritative denial of some of them did not relax the pressure upon the stocks Fears were expressed that the failure to agree on the proposed new steel rail pat pattern pattern pattern tern would cause a n large decline in activity activity ity In steel Th Tho United State States Steel stocks were Vere affected also by reports of intended steel rail production by sev several se several eral rival companies The reports of tIr net earnings of railroads for August in several recent instances show such inroads upon gross earnings by growth of operating expenses as to affect the net showing materially paying railroad stocks which have sold on prospects of future dividends were notably Influenced by this situation The effect was seized by the tone of annual reports to fo fosto stockholders sto of railroad companies which are now appearing numerously and which quite commonly dwell on the disadvantages disadvantages disadvantages of or operation of railroad systems by reason of legislative restrictions high cost of materials and labor and difficulty difficulty culty of ot securing new capital by bJ reason reton of or the public agitation against corpora corporations corporations corporations There was grave grae discussion of unsavory disclosures disclosure of financial methods being brought about by the Inquiry into the New NewYork NewYork NewYork York Traction companies and the bad ef effect effect feet to be feared reared in still further Impair Impairing impairIng ing the credit of corporations Nothing de do developed eloped In the money market to abate this discouraging Influence The weekly state statement statement ment of ot the imperial bank of Germany showed a decline in cash and but moderate moderate t ate recuperation from the severe credit requirements of October settlements The Thet IX t discount rate Is easing in Berlin how however however r ever The increase in the volume of the mar market market market ket and declines running up to 3 a or 4 I points for some of the active stocks show how effective were these measures on the market Bonds were heavy Total sales par value 1 United States bonds were unchanged on call |
