Durango semi-weekly herald., 1907-03-18
rELEeRAPhlc NEWS.

Washington, Mar. 1.-THE presi-
dent and secretary of treasury had a
conference this morning regarding the
financial situation in New York. The
White house has been besieged all
week by bankers and railroad men
and stories of coming ruin are poured
into the presidents ear. He, however,
is standing pat and will go to the
limit
The general speculation after all
these spectacular and somewhat mys-
FERROUS doings at the White house was
that the railroad people themselves
got up the panic as the first gun in
campaign to frighten the administra-
tion into an open statement along
lines demanded by Hartman, Morgan
sand various railroad presidents who
have recently spoken on panics and
shocks to prosperity.
Pittsburg, Mar. 14.-This city today
is experiencing the greatest flood in
its history. The river is still rising
and the record of ten years passed.
So far nine deaths are attributed to
the flood and property loss enormous.
Milan, Italy, Mar. 14-A great in
fux came into the city today of work
ing people from the town of Bersane
near here which was destroyed by fire
yesterday, making over 1000 peasants
hhomeless. Insurance people indignant
~ declare the village could have been
saved If people had made the effort,
but they were Indifferent as all the
houses in the town were insured.
More than half OF Bersane is total
loss.
New York, Mar. 14-There has
been shrinkage in the last six
months of s1,69S, 100000 in the mar
ket value of the stock of sixty COM
panies whose shares are listed on the
New YORK stock exchange. The cor
porations whose shares have been
compared are the leading railroad and
industrial companies. The comparison
is made between the closing quota
tions on Saturday last and the high
prices at which the sixty companies
sold last year.
The average price of the active rail
roads and industrials on Saturday rep
resents the low level of the year. The
list of securities of which a compila-
tion of the shrinkage in market val
ues is made contains approximately As
per cent of the stock for which an
active market exists on the New York
stock exchange. The decline in the
stock market has been very general
and practically the entire list of Sc
curities, including bonds, shows a ma
terial depreciation as compared either
with the prices reported in September
last or January, 1906, when another
high point of stock values was reach
ed.
1t is, therefore, safe to estimate that
there has been a total depreciation in
market values of nearly s2,500, 600, 900
In the last twelve months.
In Great Northern and Northern Pa
cifc the depreciation has been great
est. In the case Of Great Northern.
however, the rights" deducted were
very valuable, comprising the ore land
certificates, which are now selling In
the market at about 20. Deducting
this from the depreciation of 1881
there is still left a decline of 12s
points in this stock. The net decline
in Great Northern, therefore, is 12s
points on $3.50 ,000,0 900 of capital, max
ing depreciation OF 1892 100000. Val
liable rights have been deducted from
Northern Pacific. which will great,
reduce the shrinkage. In the case o
St. Paul, common and preferred, sim
liar deductions for valuable stool
rights must be considered
In the case OF the Erie the common
stock shows an enormous shrinkag,
amounting to s35,313.O00. The Penn
sylvania decline amounting to Q
points swells the total because o
the large amount OF capital stock Is
sued and outstanding.
Chicago. Mar. 14.-Lessons wer
drawn from the industrial ehibit b
Bishop Samuel Fallow in a sermon O
The Labor Problem which h
preached by request.