| Show MARKET V NEEDED I B BOLSTERING ING UP V V I Break in Prices Prevented by I Strong Support WALL STREET SUSPICIOUS J CLOSE WAS EASY BAST AT NET DB DE CLIS New York Oct n 1 Th news before the I opening of or the stock market today of ot the suspension On of ot the Federal FederI National bank of or Pittsburg caused fears fear of a violent wreak break in the ma market k ti t There were some heavy bay offerings jUlit at the opening in some of tb th t leafing leading stocks stock slid and declines ran to a point in a few cases Pressure was WU severe upon United States Steel pre preferred preferred preferred causing a loss of 1 Pears Fears for f r the result in the market markt were the more acute owing to the part played In Jn yester yeater day days s considerable erable recovery by the pub lish ed td assurances that the Federal Na lIIa bank hank was warn not in need of assistance It was w believed therefore that the threatened institution had weathered the storm The news this morning caused cau ed hasty measures measure mea uret for supporting prices his morning The Tha effectiveness of ot these be became beame became came ame very promptly m ms but the re recovery recovery recovery covery was wa viewed with tome rome suspicion owing to the belief ef in the artificial nature of or the demand V V Those on the floor were surprised at the ease ea with which the decline was checked and it Jt was va easy to i erosive that offerings of stocks in the market were on a very light scale The buying was thereupon renewed ren with vigor and the aTi i upward quite comprehensively steely adT Jy to the tho extent of a point or more Prices retraced their course coune during d the latter tatter part of orth the day d y and the closing clo ng was rather easy and at net declines for the day except X pt where the early gains pins had teen been above the average The late down downward downward downward ward movement was wu not fully explained by any published development The de tie derand e ealand rand aland from shorts was satisfied to some extent on the advance thus subtracting from the for the market Seme S me fears were entertained that there might be a new factor in the Pittsburg trouble carried over today by reason of the decision of the banks not to call ma turing loans there and other measures m of precaution The cause assigned for the failure namely the withdrawal V of de deposits deposits deposits posits by small banks banD which had been offered a high rate of interest by the failed bank to attract those deposits was wasa a result from a condition known to have become sufficiently general to become the subject of or widespread wide pread criticism Notwithstanding the late react an n in the market its tone was accepted as rat mill ratHer rater er convincing cc c evidence of or a measurable r iteration t of confidence in view of the to be contended with To lo those these t lSe mist mt at be aided the threatening aspect of It inter I or r conditions Ith the Manhattan con patty pany The market did not take well welt to the announcement that tome some of the an anthracite anthracite wilt will due for fot about a ai week owing to the quick succession o of tt i f holidays y within that period The local money was wag quite unaffected ed by the large la shipments ahll of money to V Re Reports Reports Reports ports were current of or further large grain exports and the freer movement of cot oot cotton cotton ton tOil was also viewed with satisfaction The bond boRd maket was very broad and widely varied at general advancing prices Bond houses report a Q notable increase in inthe Inthe inthe the investment Total sales Jes of bonds par value V United States State Js advanced the old 4 45 4 ani ant the is and new per cent centon centon centon on the last Jut call |
