| Show MARKET OPENED AT LOWER RANGE Liquidation on a large Scale Contin Continues ues nes in Wall Street LONDON ALSO DEPRESSED CALL MONEY IS HELD AT FIRM FIRMi i RATES t New York Oat 12 Stacks In further speculative n naon the market markot in large tit I B morning ua us tier the continued of the snipe factors which started the lie decline yester yesterday day The Tha London stock market seemed equally depressed with New York over the significance of the opinions ex expressed exPressed pressed by b the bankers convention by Mr vice president of the Na National National bank Lower prices for Americans Americana were established there and London began to soil sell stocks here as a soon as the mar market market ket opened v Later the New York mar market market ket became very irregular with occasional recoveries But the principal activity was while prides prices were declining The recover recoveries ies were due in largo large part to the taking of profits by bearish traders who had sold soki short earlier caviler and there was no re revival rival vival of active operations for an advance except in the case of n t few stocks which are In tile the hands of t speculative pools The relaxation of the selling pressure was due in part to the interpretation of soy sev several eral Incidents as indicated benevolent at attitude attitude towards the market on the part of the powerful group of capitalists whoso whose opinion opiates was supposed to be represented in the address at which so disturbed sentiment yesterdaY For one thing thine the stocks atticks in which this group of of capitalists is supposed to take a particular interest were inclined tb resist the lie prevailing depression Amalgamated Copper amongst the industrials and St StPaul StPaul Paul amongst the railroads were the tho con conspicuous conspicuous examples When the money rate rato opened at 6 ii per cent and fears began to tobe o be felt that it would rise above that unlimited amounts were offered at rate by the th City bank It from tItle this that a corrective designed for Impression created in speculative bv br the paragraphs in the bankers banker s address which were made most of the market yesterday Specula Speculative tive ti opinion was as inclined to take the ground that while a warning against spec speculative excess was intended there was wan no desire to convey u a distrust of the present level of prices Tile The motives of the trad trading lug ing wilt vill be seen from rein these examples to hee been inferential tue Urge large arrivals of gold amounting to were wera consigned to the bank bauk which made the principal loans on the stock stack exchange Tin Tl lime money market was called very verv firm and it was reported that lenders wore inclined to scrutinize more inert closely as collateral some of the mOna indus industrial trial securities In which there have been recent active speculative movements The special movement in hi Chicago terminal stocks today was due doe to a public report W bf Hill control Wisconsin Central was still strong under tinder the Influence of yes yost yesterdays reports of an Erie project in that property The days net changas were unimportant Bonds were irregular Total sales par i ivalue value H S fleO United States bonds were all unchanged on call |
