Show ONa DOWN GRADE GRADEI I Sale to Take the Under Underlying lying Cuse STURDY RESISTANCE WAS WEAK AND AT NET LOSSES a York Sopt decisive was made on prices of to today day for the first rn days by the burn of sales to take profits prompted by the ings over the crop and money outlooks let the dominant impression created y the action of the early was its continued evidence of underlying strength and Is great The of shares which changed hands had run up to of a mu lion in the two hours to noon and in that time the market had made sturdy the inroads the prices had put forth sustaining of strength in special st eks in the way which has become familiar during the thelong long advance As the day wore eu tue sustaining points became and also ieSI effective on the sentiment to toWard Ward the market at large wi very busy about the board room with the identity of the big nd fears gained ground that th skillful leaders had out to a large extent so that thir trained tactics for forthe the conduct of the might not be relied upon any longer to protect the and stimulate its advance Such a reaction is normal after an ox rise and It has been watched for forby by many days past The haste to cover shorts a concessions and the of orders slightly below the existing price kept the early trading today and uncertain and showed the or bears that the time for reaction hind cornea The consideration of the govern carp report coupled with the weather er reports in the grain belt decided the course of prices The treat shortage of wheat nas failed to any foreign for our corn up to this time The value of cx ports of falls to compared with in August of last year Reports of rusts last night jUlIO gave the grain markets a fright and though advices wera from the corn belt fears are felt for a cud cudden den damage to that crop and the Un Uncertainty certainty over it tends to keep business dull In the west In the weekly canvass of the traffic by railroad oUt dais Ic easily a note of dis dissatisfaction satisfaction the rate of increase for forthe the of westward Is attributed to corn uncertainties The gran movement however continues large The rate of depletion of the New York banking has served to admon admonIsh Ish of the other requirements to be met With a two weeks loan expansion of and 5 cash withdrawal of an In Inroad road upon the surplus for that time of has resulted and lena rates are hardening in consequence Great con is that the fall re will be met without causing a stringency at New York but the pres of the money market was an influence on in stocks The market closed active and weak with losses running one to two points and upward iii some prominent cases casesI I weakened in sympathy with Total sales par value United States 28 iid coupon declined and the coupon i per cent |