Show CON coiN TIGHT AND SHARES SLIDE Hev eavy Liquidation Causes Decline in Stocks ad and Re Rise i ill Money oney Rate Rates WALL VALL STREET IN FERVOR DISCREDITED RUMORS CAUSE OF ALL TH THE E EXCITEMENTS ENT I New York Feb were no de developments developments In conditions of affairs today to account in any measure for te the heavy liquidation and the violent declines in price prices which occurred in te the stock ma mar market ket ket An active demand for money ad and there were considerable wit with of credits from om the stock mar ket But it i is not probable te tat that restrictions ton on credits were large enough to force liquidation in any proposition to toan toan an unusual selling which occurred The Thc Therise rise in money rate rates hovver and the selling which wa was induced prove proved aply amply sufficient to topple over a maket market which had become ad and easily vulnerable able by a progressive growth of distrust over oyer the level of prices ruling and the means which have been employed to achieve that leveL leveLA A numbe number of te the project projects which have been subjected to industrial rumor rumors in inthe Inthe the stock market ad and the motives for tor te some of the most active advances ad and the larest largest speculative buying have come into distrust and in some ces cases actual discredit within the la last few days A An important Instance is the project for the purchase of the ore land lands held by bythe bythe the Gret Great Northern Railroad company hi hithe the interest of to the United State Steel cor Te The accomplishment of this h has been accepted as a centy certainty although no authentic or official Information maton mation on its terms have ever been given the public Report Reports In the last two days of a hitch in the negotiations have aroused a fer fear tat that the project might faI fall through But the effect of these reports upon the prices of stock stocks concerned in the project disclose discloses a realization upon the part of the speculative operators tat that the price movements in them has been extravagant and beyond anything warranted by bythe bythe the promise of the actual accomplishment ot of te the proposed projects The action of the copper and metal stock stocks shows te the results of similar con diton in the speculation The forma formation lion tion of the Bute Butte Coalton Coalition Mining corn com company pany and the tang taking over ot of the ton tion coppe copper properties in Monta Montana in the Interest of the Amalgamated Copper corn com company pany were recognized a as inadequate gounds grounds for te the extent ot of the speculative advances in the stocks concerned Ru Rumor Rumor mor has continued bus busy In a an effort to sustan sustain price prices with the alleged further projects since te the Monta Montana settlement and skepticism over te the foundation for the rumor rumors ha has been gaining force force Similar ces cases on a minor scale might be cited at various points in the list of active securities When Ven t the e money money supply grew restricted this his brought in investment buying which made Range ange one tf f the strongest stocks in the lit list Nevada Consolidated Old and North Bute Butte were te the other tel stock stocks which held their own al all dUJ daj The ot of all three being especially god god There are areno areno no rumors to account for the ton tion except tat that money Is very t tight ht and the bank banks are arc refusing except to their ver very best t customer customers if the liquidation continues much further we shall probably see a sharp har brek break be fere the end of the week week Quotations Sale Sales Ope Op High Low Ama Arnal 1375 0 10 10 Con Con Boston Mercur Con 20 2080 2 28 28 2 27 2 28 is Bingha Bingham 31 4 4 44 4 42 43 9 00 16 15 15 l 15 15 Utah Con 2715 6 63 5 63 6 62 G 62 u S S corn com 45 5 57 57 55 56 u S S pfd 54 44 4 4 4 Alouez Allouez r 3 39 3 39 31 37 33 No Bute Butte 8 85 8 85 8 83 S 85 Centennial Centennial 16 26 2 26 20 26 Old Domin 16 1620 46 46 45 45 Cop Range 26 2630 8 82 8 82 S 81 Tenn Cop 44 47 Nov Con 1130 1 15 l 16 15 15 Nevada Con Conin Conin in New York 80 15 1 16 15 15 i Ore and Bulon Bullion Ore and bullion settlements In thi this cit city yesterday a as reported by Co amounted to tO as follows Si ver lead gold and copper oreS ores 0 base bullion bumon 50 Metal Markets Siver Silver per ounce ounce Copper casting pr per pound L Lead 3 pr 10 pounds I Mining Notes ounce Siver Silver yesterday dropped from c to pr per A carload of copper ore from the Grand Gulch just over the line in Ar Art zona was on te the market yesterday Thirteen carloads 01 of ore from Tintic and two from Modena were released from the Taylor Brunton sampler yesterday morning Two Tw car cars of ore from Alta la two from Nevada Neda two from Tintic and from were at at the Pioneer sampler yesterday morning Ben D Luce pulled out for Nevada ye yes yesterday ad and his friends expect to se see hm him land either in Bullfrog or Manhattan and become a fixture until his fortune is made nt Seymour W Tulloch of the Sevier evier Consolidated stated yesterday that the the trout tryout of tle the new milling and power platts at the properties was about completed Ho considered tat that the profanity prod period at camp was about over and h ha therefore expects to go down and watch the new mi mill work net next week Superintendent David Lemon of the Black Diamond properties at Stockton was in own yesterday with another car carload carload load of ore While no attempt is b bling ing made by the compa company to ship other than ore that is taken out in the oter tan regular course of development there are not many days b between n so the mine must b ba looking pretty good James Hickey superintendent of the Comstock properties at Park City ha has got back to his old stamping ground in Nevada He wa was registered at Las Vegas Saturday lat last and the supposition is that he is ging going into Bullfrog and the theother oher other camps fattier north there Mr Hickoy got his training a as an expert miner on the Comstock lode Lode Nevada Nevada and andIs andis Is mner therefore therefore no stranger to that region Lafayette Holbrook of the Grand Cen Central trl ad and Victora Victoria companies was up from Provo between trains yesterday He stated that the of the Grand Central shaft shaft be finished b by pr or be before before fore the tenth or of the month Asked whether the companie companies would pass the March dividends oWing to the closedown he state stated the matter had not yet been considered by the directors but he saw I Ino no necessity for h holding l g off payment I today and active efforts had to bo be made to secure fund funda by sp holders mae or of securities tu thus situated It wa was found that hat a ken keen discrimination wa was used against tem them a as collateral for lending money The usual margins demanded up n te the maket market value ot or securities i in the amount amounts ot of te the loan loans were wIdelY extend extended e ed ad and I Iii some ce cases it wa was reported tat that such stock stocks were thrown out a as collateral altogether The bag banking situation In New York offered ample explanation tor for te the condition ot of the money maket market the ab absorption sorption of fund funds by opera tons lions aone alone since the lat last bank state meat ment amounting to more tha than the surplus reserves of the banks a as it stood lat last Saturday which wa was Interior New center centers York York alap ae are withdrawing fund funds from The course of the money market markot for tor some time pat past ha has pointed to liquidation but speculative operators have Ignored It Ithe Ike he or business and industry which held te the maket market when the rate for forcall cal call money reached 1 per cent cent were in prospect prospect at the preset present time they are either current or in retrospect with the suspicion engendered in the speculative mind t at their influence baa haa been more tha than discounted in te the aton action of the market market The liquidation seemed to have spent much of its torce force In the late deng dealings but te the nervous fluctuations at atthe atthe the lat last were not ta far from te the low level of te the day Losses in some of the stocks most severely affected ra ran to 10 ad and 12 point points while the delnes declines ranged ver very gen generally eally between 1 and 5 point poInts Bonds were weak weak Total sae sales par wa vai vaie ue e United States 2 regIstered advanced 14 pe per cent on ca calL Bond Quotations U S S reg Jap Japan 6 Os lO IOUp lo Do Do 2nd u IT S ref ref 2 D Do 92 U S coup 10 Do 2nd seres series S 89 u S O 0 45 LuIs Louis Nash Nash U S o C 4 unified 4 10 u S n IL Man Mali con COIl g U S n a 4 Mex e Central 82 Axher oer To 4 45 7 D Do 1st inc 2 21 D Do 6 Cs 11 l Y St L I 4 Atch gen 1 M K K T 4 45 1 Do ad adi 9 95 Do 8 89 At C Line 4 45 N R B R I of Mex Bl Bal Ohio S 89 Do s 9 94 N Y C gen Brook B T cv OS 98 45 9 05 N J C gen Cen of Ga Sn No Pacific D Do 1st Ine inc 9 95 D Do 3 n 76 Do 2nd ine inc 7 N W cn con D Do 3rd Ine Inc t O 0 S L 1 C Ohio 4 IO Pa Pa cony J Chi A Alt t 8 81 Rad Read gen 4 45 10 C B Q n 90 St SL L L L l M c 0 R H L P R B 93 consol R 7 79 S L S F g Do col 55 91 4 C C C C St L L St St L Sw con 4 80 gen 4 45 1 Se Sea Ar Air L Ij 4 45 9 00 Cole Colo Ind md 5 Ss sere ser So Pacific 93 A 7 ii Do 1st 4 45 96 D Do B 76 So 0 Railway Cob Colo Mid 45 76 Tex Ten Pae Pac Cob Colo Sj 4 45 9 94 T St L W Cuba 10 8 83 D R IL G 4 r 00 Unon Union Pacific Dist Distil 5 Ss 8 Do cony 45 Erie Erie pro pr len lien U S Steel 2 5 Ss 90 Do gen 4 45 92 Wabash Il Hock Hock Val 10 Do deb B S Wis Central 92 Wes West Md S 87 Japan 4 g 87 w L 1 Ee ErIe 45 9 92 Stock Quotations Sae Sales Hg High Lw Low Close Adams Ex Ex 27 Amal ml Copper 10 10 Ae Amer Car F 93 43 4 41 Preferred 70 10 Amer Cot Cot O Oil n l M 34 3 Preferred 93 93 92 02 3 Ae Amer Express 2 Amer Hide L L preferred 10 3 37 37 3 36 Amer Ice 46 46 46 40 4 46 Amer Ln IAn Oi Oil 21 Preferred 4 44 Amer Loco 17 7 71 68 6 Preferred 10 16 Amer S S Re O 15 15 1 Preferred 2 12 1 l Amer Sugar Re 14 13 Amer er To cerU 1 1000 10 10 Anacon M Co l Co 35 2 16 2 Atchison m 00 8 83 81 Preferred 1000 10 lQ i At Coast Line 20 2000 15 15 Ba Bal Preferred Ohio 1 10 10 97 Brook Brook Rp Hp T Tr 39 S 7 S Can Pacific Cn 54 16 16 Central ot of N J 10 25 25 24 Che Ches Ohio 1700 56 55 5 Chi Alton lr 1200 r 30 r 30 3 30 Preferred 70 Ch Chi Gt West West 20 2 21 2 20 21 C 2 21 2 C M St St P 2 IO ISO 17 Ci Chi Ter T Tr 6 13 13 13 Preferred 30 3 C C C St St L SOl SO 0 96 97 9 97 Cob Colo F Iron 9 6 6 61 6 61 Cob Colo First Sout South 1 8 8 3 34 3 33 3 72 33 Second pred 5 Cen Gas 20 2000 15 15 Corn Products 17 11 17 17 Cr Preferred W 17 5 56 17 De Del Hudson 40 t 2 Del L Ie W n n 45 D R H G 16 1600 45 4 42 43 Preferred r fOO S 83 S 88 S 81 Distl DistiL Secure 1700 70 5 55 5 5 53 Erie 4 43 41 4 42 FIrst 1 1200 78 7 77 W 77 Second 2 6 69 67 6 66 Gen Electric 20 2000 16 16 Hock Hock VaHe Valley 14 Illinois Central 17 16 1 Paper 2 20 27 21 2 21 2 2114 Preferred S 84 S 83 5 Pump 2 27 Preferred 6 8 84 8 84 8 81 Iowa Cental Central 9 31 3 30 3 30 Preferred 5 5 58 5 57 5 58 Ka Ran City South 22 3 30 3 38 2 28 Pr Preferred o 5 59 5 50 Luis Louis Nah Nash 40 14 15 Manhattan L Ii e 10 1400 15 15 15 Met Met Securities 50 6 6 6 6 66 Met St St Ry 10 14 11 13 Mex Centra Central 46 2 24 z 23 2 24 Minn St L 1 2 76 76 7 75 St P S 1 St Ste M 70 15 1 15 P eie 2 Mo Pacific 42 10 99 99 IC T 46 3 35 3 33 3 34 Preferred 4 6 69 6 68 6 68 National Ld Load S 50 7 70 73 N R fl R B of Mec Ie preferred 30 N Y Centra Central 17 1 15 N Y O 0 W 50 49 49 49 Nor Vet West u 50 S 87 34 Sil Preferred 9 00 North American 17 90 99 93 Mail lal h b 1600 C 4 44 43 Pennsylvania lE 13 Peoples Ga Gas 29 9 99 9 y 9 96 P C C Sl SL L 8 00 7 78 7 78 78 Pros Press Steel Cr Czar GE 6 6 53 Preferred 10 1000 9 99 96 98 Pl Pull Pal Cr Car Ring Reading 1010 FIrst 10 92 92 9 91 Second u r Steel 42 30 2 29 2 i Preferred l Rock Island Co 3 Z 27 2 2614 26 Preferred 2 2700 10 6 63 6 6 St L S F preferred 1 46 45 S1 St L Sw 0 24 24 2 24 24 Preferred 5 5 56 5 55 55 South Pacific n 11 2 6 65 o 4 18 1 1 f South Railway 15 3 3 37 3 38 Preferred 0 O 9 99 9 99 Tenn Tenn C Iron 22 2200 15 15 Tex Tex Pacific 10 1400 31 3 33 3 T Preferred S1 St L L W 36 36 36 31 30 5 54 Union 15 Preferred 9 U S Express 10 12 1 U S Raly Realty 00 SP 81 I 34 U S Rubber 7 5 49 49 Preferred 40 10 10 U S Steel 41 41 40 40 Preferred m 10 lO 10 Va Va Cro Garo Chem 1400 40 49 48 Preferred o J 14 11 10 Wabash 20 24 24 2314 gilL Preferred j 33 5 50 51 J o E Ex u 24 g Elec 0 r lO 10 West Vet Union 4 4 0 9 93 9 93 91 W 8 2014 m 20 I 20 Vs Central 0 Z 27 2 26 26 Preferred iO 66 6 56 Nor North Paclo Pacific 28 m 2 29 Cent Cen Leather IG 1600 3 4 42 4 42 Preferred 0 10 10 1 Sloss Steel 13 1300 5 83 80 8 Tota Total sale sales for the day shar shares Tr Treasury Statement Washington Feb statement on of the treasury shows Available cah cash balan o gold coin and bu bullion lon gold certificates 48 Metal Markets New York Feb Un tin was un Unchanged chag changed at IDa In the London mar market market ket but futures declined 5 Ss to 16 and te the local market wa was dun dull and 3 a lower with at 33 shad quoted Copper wa was about 2 Sd lower In the London maket market wit with sot spot selling at 7 78 ad and futures nt at 77 59 Te The local mar bet ket wa was fir firm in tone with offering offerings light although saro some auto tes claim that cm tt supplies are in the hands te of some of te the lage large producer producers Le Lake I is at 11 85 electrolytic 10 1800 1350 and casting 1 0 Lead was at In the te local maket market but wa was higher at 16 6 2 in London a Speller was unchanged in both wa ma mar markets closing at 2 25 Ss 55 1 in London ad and 60 10 locally Iron wa was higher abroad with standard foun quoted at 4 ad and Cleveland war warrants rants at 45 in the English market Locally prices were unchanged 1 foundry northern is quoted at No 2 foundry northern No 1 foundry souther southern ad and No 2 foundry souther southern |