Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-15
EYE. SPECIALISTS. Huteson Optical Co
VIOLENT FALL In STOCKS


OF these notes would be affected by me
fact that the recent declines in Baltimore
& Ohio and Atchison show losses of many
| millions Of dollars from the prices at which
| they were purchased by the Hartman in
terests.
It was pointed out also that the decline
in Reading shows heavy loss to Balt-
more & Ohio, which holds about $30,0Oo,0O0
of Reading stock.
No Failures During Day.
After the close OF the market considera-
Bile relief was expressed that there had
been no failures during the day and that
of all the rumors in the street there seemed
TO be none Affecting the solvency Of any
banking OF brokerage house of any Inn
| portance The banks reported that their
| demands for further collateral from brokers
had met with prompt response, and that
SO far as they were concerned their posi-
| ton as to the stock market was satisfac-
tory.
! A remarkable feature of the present de-
| cline in Wall street values Is that II was
foreseen several months ago and that
warning was given so that brokers gem
/ orally had protected themselves by re-
curing their customers to deposit and
maintain ample margins on their trades.
In this respect the present situation differs
widely from that of 1901, when the contest
over the Northern Pacific brought about
a panic at a time when bull speculation
was rampant and when the public was car
rying heavy lines OF stock on comparatively
slender margins. At that time brokers
suffered heavy losses through failure Of
their customers TO respond to calls for
funds So far as is known no such state Of
AFFAIRS exists today Some OF the larger
commission houses have reported for the
last several weeks that their customers
were out of the market entirely.
Secretary Cortelyou's announcement of
government relief was received with much
satisfaction in financial circles. It being
pointed out that It would aid the banks
greatly In making the payments due on
the Pennsylvania railroad rate issue and
the Standard oil dividend.
Panic in Copper Stocks.
BOSTON, March 14.-Panicky conditions
prevailed in the local market for copper
stocks today Brokers were flooded with
orders to sell. Prices broke sharply, clos
ing at the lowest. Rates on money rose
generally to 10 per cent. Declines Of from
5 TO 20 points were recorded in the leading
coppers. Trinity was one Of the features
Of the local market. 1t withstood the storm
until about noon and then dropped to 1871
a loss OF nearly Z points, recovering frac-
tionally at the close. In many cases the
selling was in default OF a response to re-
margin calls sent out last night The Is
sues suffering most severely were Osceola
on 20 to 1870; North Butte, on 15X to 7s;
Copper Range. on Sh to ~; Utah, of 12
10 81 Quincy, on "A to 1l6; Tamarack, on
II TO 1l2; Butte Coalition on az 10 g.
London BOurse Tranquil.
LONDON. March A.-In the absence OF
any extensive American demands for gold
the directors OF the Bank OF England, at
their meeting this afternoon. decided that
no Increase IN It's discount was called for
and consequently 1t was left unchanged at
| per cent.
Consols at the opening fell to "a sis for
cash and again touched san for the ac-
count. the latter being the low mark OF
1855. but by noon consols had recovered to
IS for the account.
The bankers here say they know OF no
serious trouble impending. American
bankers here attribute the present situation
almost entirely 70 the fact that the demand
for gold TO meet the booming trade inter
ests everywhere exceeds the available sup
ply Of the metal They do not anticipate
that the United States will take gold from
here Immediately, and say no gold VIII be
purchased in London for America until
such a step is absolutely necessary. as al
though the Bank OF England Is at present
in a good position, such a demand would