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Show WALL STREET DEMORALIZED. New Low Records for Year Established Estab-lished and Panic Seemed Inevitable. Inev-itable. Now York. Under tho effect of 25 per cent money nnd tho genornlly pessimistic sentiment dovcloped as a result of tho recent heavy decline, trading on tho stock exchnngo on Thursday reached a stage of demoralization demor-alization bordering on actual panic. Tho worst period of tho day was shortly boforo tho closing of tho stock exchange session, although thero was nn extremely violent falling off In prices between 12 and 1 o'clock. New low records for tho year and In somo Instances for several years woro established In tho actlvo speculative specu-lative Issues under prlclpltnto selling, sell-ing, with tho market apparently without with-out buying orders than those of tho bears to cover their short contracts and rcallzo tholr profits. After tho closo of tho market much relief wns expressed that thero had been no failures during tho day and that or all tho rumors In tho street there seemed to bo nono affecting the solvency of any banking or brokerage houso of any Importance. |
