Akron daily Democrat. [volume] (Akron, Ohio) 1892-1902, 1901-05-10
BROKERS
Feel Easier Today-Condemna-
ton For Panic Makers.

New York, May 0-(Spl.)--Another
gray, damp day greeted Wall Street
men as they made their way down
town this morning. But the brokers
themselves felt better. While they
believe the market today will be very
nervous, they also believe that all the
inflated spots have been shaken down
to a more natural level and that the
worst danger is over.
An over night development had
much to do with the better feeling
this morning According 10 infol,ma-
orators at the Waldorf Astoria late
last night truce has been declared
in the Northern Pacific fight.
The big corner, il is said, is broken.
Kuhn Loeb Co., representing the
Hartman interests, will settle with all
their shorts at 800
j. T. Morgan e Co., and Jas. r..
Keene, will settle, it is said, at be-
tween 100 and 1S5. Definite figures
will be fixed today. There was no
budding for loans of Northern Pacific
| last night. This was regarded as
most significant and as indicating that
there would be no great squeeze to-
| day.
Many Wall Street men are bitter
| against the rival money powers, who
in their ambitious schemes to control
the railroads of the west, brought
panic to the market and ruin for thou
sands of spectators.
Denunciations were made in Ian
guage too strong to print, even con
| servative brokers joining in the gen
eral onslaught. Bankers who took ad-
vantage of the situation to charge
ruinous rates OF INTEREST," C.etshrdlhu
came in for a share Of the general
condemnation. AS high as so per cent
was charged by some.
While truce in the Northern Pa
citic fight has created better feeling
the status of the fight shows there is
still great danger. Both of the con
tlicting interests claim control of the
road. Kuhn, Loeb X Co., says: I'VE
believe we have got control. The
other interests think they have it..
Nobody will know until all settlements
have been made"
When a member of the firm of J..
L. Morgan d. Co., was told of this
claim he said: Il think they are mis-
taken"
j. j. Hill is sure of it. He said:
THE control of Northern Pacific is
where it has been for five years, with
j. Z. Morgan Il Co. Mr.. Morgan has
only tried to protect his interests"
1t was reported this morning that
Morgan had cabled that he will re-
turn to the United States at once
should the struggle and danger con
tinue.
w. *. Vanderbilt, an important fac
tor in the market, returned from
Europe yesterday afternoon. He term
ed the situation as silly but refused
to make further comment. His intiu
euce will surely he used for peace.
There have been many rumOrs that
John W. Gates had been hit hard. He
admitted last night that he had n CLOSE
shave, but said the crisis had passed
He WAS in good spirits and his manner
indicated the truth of his words. He
said: 1T has been said that had my
head Knocked off down in Wall Street
in the last two days. Well, I'm still
here. / had yellow dog that folks
kicked so much he walked sideways
Well, when steel first began to droI
yesterday they had me walking side
ways. I'm all Strengthened ont now
l believe the Northern Pacific is al
settled and that things will clear up
Russell Sage's comment on the mar
ket this morning was: II expec
brighter things today The marke
will recover"