Show ORGANIZED RAI RAID BY Y BEAR PARTY Stocks Hammered Down Until There Was General Selling of Large Holdings BROKERS LOSE ASSURANCE SOME COVERING BY SHORTS IN INTHE INTHE INTHE THE LAST HOUR New York York April 10 Stocks became de decidedly weak today under tinder what appeared aplared to be a raid by an organized bear party part partin in the tho speculation The continued stringency stringency stringency gency of money has been viewed with considerable equanimity by speculative holders hold rs of stocks so long Ion as prices held pretty steady or showed occasional signs of ot advances keeping up speculative con that there tere would be bo a rise af at fording a profit on holdings sufficient to cover coyer interest charges even een at the high prevailing rates But with wih prices started decisively downward sentiment underwent a marked alteration It I was evident that the fear of such a movement had prompted the placing of large stop loss orders below the market Once the raiding riding tactics of 0 the bear b ar party has suc sue succeeded succeeded in forcing prices downward do to the figures at which these stop loss orders came into effect there was quite indis indiscriminate indiscriminate criminate selling and throwing over of large holdings for what they would bring The market showed more acute weak weakness weakness weakness ness than at any an time for several weeks week The TIle firm resistance hitherto shown by stocks to the tho stringency in the money mon y market has caused a belief belef that extensive speculative commitments in stocks stock must be playing very little part in the expansion expansion sion slon of credits credis which has run up the for money This his has been used as asan asan an au argument to show the time strong tech technical technical technical position of the stock market in spite of time the fact that the severest stringency in money had been confined confine almost wholly to the walls ls of the time stock exchange Itself One Ono explanation is that the operations in the market have been carried on with funds a large proportion of which were borrowed on time at moderate rates of In terest while a small smal remaining portion porton to fill fi out additional needs was secured in the tho call C loan market with comparative tive indifference to the temporary high rate exacted there thre The renewal rate for money was gen generally generally held at 20 2 per cent and it touched 25 2 per cent cent While sterling exchange con continued tinned to decline so as to widen the margin of profit on engagements of gold for import Import the difficulty of securing a supply of the precious metal seemed to grow owing to the scarcity of new arrivals als in London and keen competition of Paris for the available supply Reading was was advanced on talk of a compromise of the coal oal mining dispute and Amalgamated Copper Cop er responded to gossip of a prospect prospective pro ive dividend increase but these stocks afterward were amongst the weakest of the list with wih corresponding effect on the reversal of sentiment Covering by b shorts caused some recovery cry ery er so that last la t prices were not at tho the lowest of the day da although the closing cosing tone was unsettled and Irregular again Bonds were easy Total sales par val value valUE ue Ut UE 20 on United call caB States old declined i 14 per cent centon |