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Show FLOOD CAUSE OF SELLING ON THE STOCK EXCHANGE Decline in Prices Merely Temporary; 'Financial Writers Expect Upward Movement to Follow Reaction. By Thomas C. Shotwell. By International News Service. N- YORK, May 4. Stocks de clined further today, but in tht last hour recovered qulotly, although al-though they did not mako ud fl.ll tho loss. Some specialties displayed dis-played considerable strongth. Tho standard stand-ard issues all acted about alilto. Steel sold at the lowest price of Uim movement. On tho curb dullness prevallod, with CiKar Stores ahowlni? srealest Btronsth. The reason Rcncrallj- grlven for the Felling Fell-ing movement was that the Mississippi flood has done great damage. This is truo, but for every dollar tho heavr rains have- Insured ten dollaru of additional harvest.. Money la plentiful. The steel ajid copper trades arc looking better every dny. The political situation cannot can-not become worse. The country Is recovering re-covering at last rrom the panic. To admit that tho decline In prices In tho last two days Is anything moro than a raid or a normal reaction would be to repudiate all the arguments given for the advance. Those reasons are sound and this reaction does not weaken tbem. It Is impossible to see any reason for abandoning the theory that prices will continue to rise. The reaction haH not excited liquidation. That has encouragfld many persons who refused to follow the upward movement, but who will now Join It when prlcos resume the advance, as they muyi very soon. The bank statement todxy showed no Important changes. |