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Show WILL STREET LIQUfDATING i NEW YORK. July 1. Th? action of the stock market today was in accordance ac-cordance with the usual symptoms following so violent a disturbanca as that of yesterday. The mere fact of the arrest of the declino relieved the market of a weight of foicod liquidation through wiping out margins mar-gins and uncovering stop-loss orders. Tho Imminence of a triple holiday Interval emphasized the disposition of tho large short Intereat to cover, and this constituted an Important sustaining sus-taining influence. There was perceptible, percep-tible, also, the operation of the usual secondary causes in the reselling of I stocks bought at the bottom prices yesterday by lucky speculators eager to secure quick profits, r by banking Interests and Insiders who bought yesterday solely for the purpose of checking demoralization and with no desire to retain their holdings, Still, another class of selling camo from belated be-lated liquidation that had been carded car-ded through the break of yesterday to save heavy sacrifice, with the Idea of retiring at the first available opportunity. op-portunity. Aside from the buying by tho shorts there was not au aggressive demand and the situation of the buy-Increased buy-Increased as prices extended their ro-covpry. ro-covpry. Th? needs of the boors etill ii r revered were indicated lu raiding tactics on special stocks. iiic issuance of the call for the condition con-dition of the national banks by the comptroller of the currency was given additional interest by the simultaneous sim-ultaneous call of tho New York State banking department and the trust companies. The statement of the coudition of all the great credit Institutions In-stitutions on an Identical date Is particularly par-ticularly illuminating, owing to the check on any shifting of accounts between be-tween them which might disguise the real condition. There is no doubt that a synchronous synchron-ous reiwrt of all the credit Institutions Institu-tions throughout the country' would be particularly valuable at this time, owing to tho suspicion of extensive Interests of national banks indirectly through operations of allied Institutions Institu-tions In the land speculation. The present call from the comptroller, coming fully three months after the preceding call, represents an unusually unusual-ly long interval. 1 Bonds were firmer. Total sales, par value, J2.C24.000. United States bonds were unchanged un-changed on call from last week. |