The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-03-26
|[IIG FRENZY
h WALL STREET
/. Fears Impending Panic
rprsss Traders; Sat
urualia of Bears.
INFINITE NEWS TO
I ACCOUNT FOR CONDITION
A in London Metals Adds
rssly to Weakness; Clos
ing Is Nervous.

.,y March 26.-Today's stock
iVnn any clenr analysis, The
dsn.' unon which there rs no
'sS 's.nrte are that there are un-
IH olsH IA sell securities and an
pss naralvsis Of demand. The
tau N nrlces were such as
c'hess aS;nad. That any urgent
~,s forcing holders Of securities
n'I,s & rhem did not appear from
s'I rnown TO the public. The
~ mi calling loans and the
Ngs n credits by money lenders
Dug :. sscrIbed as the impellirg
~ .sa slump. or course the yio-
.s and the shrinkage in collat.
es = readjustment constantly OF
s.,is shrinkage, Of course. forced
-, holdings upon the market in
- - nj the fall. But stringency
wy uss nor the primary cause IN
srv iIouidation, So far as the
. sa,lures at the coming stock
s,,,Iements in London and Berlin
--smed the situation was ad-
= smnroyed over last week.
,rrlces OF Americans reported
.nyson showed some violent re-
ANN Saturdays closing level
Rsr,in was reported to be buy
-sdssn securities In London Re-
sdviees from the highest quar-
y ',hs financial world abroad were
as TO the improvement IN, the
~ Berlin was alleged 70 have
',ts5 necessary arrangements Tor
'rproaching settlement. which has
~ dreaded point. Rumors OF an
.,pt house in London In financial
['ltIs were said to be disproved by
"a careful mvestiga ton. Large
4 xsre executed In this market TO
crss for foreign account. but with
more than a momentary effect on
yicss.
( Particular in London which did
-ss7 an acutely depressing factor,
4 The disorder in her metal markets.
4 and lin both showed heavy de-
| ara speculative commitments in
soper market were said 10 be IN
The large speculation in copper
.fIss In this market had been based
| ne confident assumption of sound
||Ins In the metal market. This
|rs was shaken and the metal
.n.hs proved extremely Yulnera BILE
lc1ssouence. including United States
4 Rocks. Large pooled holdings of
. sturIties were believed TO he
- BY the demoralized declines.
ID d Amslgamated Copper and of
n States Steel seemed 10 be sud-
/ awakened 10 the recollection OF
|wfcrmances In those securities fol-
4 he quick transformation from the
Ne Of great prosperity on their
j 10 acute depression and rapid
.trs Of earnings
+ 1erstions OF the hear contingent
4 rsrset are believed TO have taken
"poportions OF saturnalia. In
n operations upon the short side
tasl one instance were believed
! 4 prodigious proportions. The
rrI seemed 10 pe entirely unop-
| D behalf Of the controllers or out
B any property, A striking fea-
the situation seemed TO he the
ns among the larger interests
7porfing measures would be futile
4 the selling frenzy.
Esmenis Of gold in London for
and additional latitude allowed
Secretary OF the Trea sury in the
II Of Government deposits. al
rfomislng TO help the money
through were entirely ignored,
nai men In the banking world did
'1lale 10 chara actcrize the selling
opted ny Insane fear" InforTna :
. commission houses Of the terms
y some OF the selling orders were
have lent color TO this charac.
Fears of coming prostra
business and Of the stripping of
4 q management and control from
t'ons we're alleged as principal
Ior the alarm Ii was late in
~ eelore prices reached the lowest
clt Tue actual closing reflected n
iesng among the shorts In the
lsoeunds caused by their rush
Y Profits.
we're weak. but not notably ac-
iv'sl eaies, par value, s3,S92. 900.
,o States bonds were unchanged