Show TOCK STOCK MARKET I DEMORALIZED Withdrawal of Support Al Allowed Allowed lowed owed the Bears to Com Command Command Command mand the Situation PRICES CRUMBLED AWAY APPREHENSION AROUSED BY PRESIDENTS MESSAGE New W York June 17 Speculative HM tIn u which took on Oft the symptoms ms of ot col lai Id wa effected in the His stock market today toda The violence of the break came as a surprise in spite of the distrust latel of the high level lava cf rf prices and of the t e extent to which borrowed money was as bring being used to carry sticks on mar margin marin margin gin in The Th bear r party which undertook operations on the short abort side based on this thi situation has hal met opposition so jo often in m the th shape hapP I of ot powerful support of ot the Uie market that the ability to hold tj prices or advance athance them had bad come to be relied upon The withdrawal of that support undoubtedly will be an important element in the th weakness which swept over the market today Of course as ae a the decline proceeded the flood of liquidation was wall verY yer er much increased but it was not not ahl ihly heavy at the outset out et The opening selling Jelling in fact was WAl well ell ellab absorbed ab orbed and an ail effective rally achieved At M that point stocks began to come out agm party partly part from those tho e Important In which bought bou ht yesterday to check th threatened demoralization then and w hh sought the earliest opportunity op to tor r reIl ell their takings and partly PArt from the organized bear rl who had strengthened 8 their position by large covering opera ora operations As prices crumbled away margins v w P wiped out and orders un uncovered covered otred and aDd after midday the mar market markt market ket kt was wac demoralised Developments in inThe Int The thO t h copper ropper trade tra k have Impressed Impre ed sentiment vry HY ir unfavorably owing to the suspicion that speculative forces force forc have been at I in the market markut for the t metal to sue sus sustain tain lain the speculation In stocks stocke European copper trade statistics show how how a large part o recent nt and current American exports are going into ware warehouse warehousE warehouse house stocks stock abroad rather than into consumption This Thill showing had an ef effect effect effect on sentiment regarding the steel trade where the current active demand till still continued but with the possibility as se in the copper trade of an accumulation tion of stocks at that may prejudice later demand Some of the sellers of stocks st professed apprehension that President Tafts dal ial lal message regarding an income and earning tax might be a pre pro prelude lude to revival of agitation against cor corporation ration The paragraph dealing with the incidental advantages of the Increased I powers 0 fOra of Inquisition Into affairs of cor corl l growing out of the proposed ed tax tx on earnings seemed to be regarded as ast of f t sinister import to corporation manage management mont ment The declaration af of f 2 ner per cent nt dividend on Reading yesterday contrasted contra ted so vividly vivid with the a which Induced the recent advance In the th stock to tn near 10 ISO that a realisation tion was awakened of the large part played by bv pure speculation helped by manipulation In the extension of the pro prolonged prole longed le ed advance in prices This realisation to the stock at Mk market markt as II a whole lied had much mUlk more to toto todo todo do to with the days da heavy vv Mt than any fresh Incident In the HI news The ex ox extensive by shorts In the th process of f realising bear MoRr profits relieved a sub substantial part of or the extreme declines which ran to SH m and nd nearly S 5 points for forthe forth the th stocks most acutely affected The i n tone of the market was wae unset unsettled un et tied Ut d Bonds Bond were re Irregular Total sates sales par parva value va States bonds beads bo dl were unchanged ed on call Stock Quotations Sales SI SaI High Uk Low 10 Close A preferred ZM 1 L HK 4 HI II I R RAmal Amal A mal Copper B fl flAmer JIlt Amer 8 4 41 44 42 Amer Best Bost B t Sag Sug 44 4 Am m Can pM pfd 1 II BH Am Car k TAy ny Fd UM L N MK q Mt it iI itAm Am Cotton Oil CHI uro 7 73 71 n 71 Am H A L pd LOW 42 4 41 41 Amer Ice Ile Sees S 8 OW ime I 40 38 a v 4 3 H 14 HAmer Amer A mer Linseed 17 11 17 Ii 1 Am Locomotive twe 18 MK t 67 liT sni Am Smelt R B tt M 90 9 Preferred 40 11 lit UI MH 1411 1 Am sugar R Ref r w ia UI 1 Am Tel A Ii Tel M 1 Am m Teb Tob pM pfd 1 Amer mt r W n 35 34 3 34 H HAna Ana Min Mm In Co MW 44 40 48 tI 4 48 40 Athlon D Ut lIS r Preferred 1 10 14 At Coast out L M IM UI UZ 13 Bait Elt A c Ohio Ohle lIMI IUIS IK 1 11 ll Preferred V 00 14 14 94 H Bethlehem Steel SWEll UW 21 S Brooklyn R T 7 79 77 TA 7 n nan Can an Pacific M 8 ia Ut 11 1 r nr ii Leather M I IW aVi aw M II MOntral S I C of N J 1 38 I f hs h s A 4 Ohio 3 7 70 75 mI mII 75 ChI fhi I hi Alton 4 g 67 On hi Gt West Wt 3 34 2 3 N N NhI 2 hI A N W Wf i 1000 eo IM in 1 1112 1 f I C Mil A St P IM lliO 1 iM iMI l lC I I C C St L W MIl 75 74 Yn nIr Fuel A c I is m 44 41 41 42 Coo flo en I South t 57 6 1st preferred 81 11 Si S1 si 81 zd preferred 80 5 Cons Gas 8 4 Corn Com Products 2 Z 22 Del Hudson HUdlon ST 87 Denver R it G 50 50 U 47 4 Preferred goo si 88 88 83 Irl Dist Sew See 1700 17 38 3 38 Erie b 31 1st preferred 1810 1800 53 5 6 d preferred 43 41 43 41 Gen Electric 2000 lie 1 1 Gt North pfd 7 Gt at N Ore CUe CUs 76 74 Illinois Central 2900 2990 14 14 Met 16 16 16 Preferred 4 48 46 41 Inter Harvest 84 Int mt Marine pfd 38 23 3 4 21 lY Inter Paper 2300 16 14 15 Inter Pump 40 30 39 Iowa Central 1600 1000 30 ao 28 S 29 K C Southern 45 41 44 Preferred 72 72 72 Louis Nash 1400 H 1413 H 14 Minn St L ro 15 55 Minn St P S Ste Marie 1100 1372 Missouri Pac 76 75 72 72 M K Texas 4 42 41 41 Preferred 73 Nat Biscuit Nat Lead 14 SI 83 83 Nat Rys Rye of Mex 1st let preferred re 5 i 5 51 N Y Central 1 N Y Ont W 6 00 5 54 5 52 U 51 Norfolk West Vest 1800 10 19 S sa 81 88 Northern Pad Pacific fie Pacific Mall Mail SOO 20 29 Pennsylvania 1 1 Peoples Gas GlIB 1700 n P C C St L I 91 91 91 51 P Steel Car 1000 4 42 41 4 42 Pull Pal Car Ry Steel 3 43 42 43 Reading Reeding Rep Steel 29 30 Preferred xi Rock Island bland Co 31 29 38 30 Preferred 1700 08 68 St L San Fran preferred 43 43 41 n 42 St Louis Louhi S W 26 26 36 Preferred 1400 01 00 tJI Sloss Sheffield Steel Iron s s 80 so Southern Southen Pac S1 1 11 12 M Preferred 1869 UN IU Southern 39 39 3 31 Preferred M 68 67 Tenn Copper SOO 41 4 i t 3 6 Texas Texan Pac Pee 20 1100 36 34 34 Tol St L T W SG f 41 40 Preferred 68 88 61 Jl Pacific 19 Th Preferred 2800 97 9 97 97 U S Realty 9 31 81 U S Rubber 1600 1 OO mt 38 36 U S Steel 67 65 Preferred SOO 1 1 1 1 Utah Copper 2780 52 5 I 50 8 50 4 Chemical 99 54 4 51 53 51 Wabash 21 22 Preferred aUS 56 iH 57 West Maryland 19 s IS 18 1 10 Western Union 39 74 74 1414 Wheel L I 1 E B EWie 18 Wie Central aw 67 57 V 71 57 5 7 67 n Total sales sale for forthe the day 1400 shares |