Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1907-03-14
Further Hreak In Stocks.

New York, March 14.-Notwithstand-
ing the low points hit as result of yes
terday's slump in the stock market, and
the point we're the lowest since the panic
Of May, 1901, there was no great excite
ment in the street early today. Hard
blows we're struck yesterday but 1t was
the big fellows who we're punched-some
Of the most active speculative interests,
and some of the leading figures In the
banking world. The bleating lambs had
most ell been shaken out Of the market
before yesterdays squeeze came.
While 1t Is expected that the market
will be somewhat shsky today and prob
ably for several days to come, 1t Is be-
lieved that the worst squsll Is over.
1t Is known that the federal govern
ment Is keeping a close eye on the ticker
and there is @ general belief 10 the street
that some important act!on from
Washington today can be expected In
event Of further unsettled conditions.
The market opened irregular with anum-
Der Of the more active stocks up for
fractional gains, but ct the end Of ten
Minutes the downward movement had
started.
The fun appeared to have started
again. by 1926 the market had de-
velopsd extreme weakness. The de-
clines we're in part attributed to fresh
selling orders Tor foreign account, and the
execution of sales in default OF response
to margin calls sent out last night.
Shortly after noon the excitement
was intensified by q sensational break
in Reading
Another wild furry Of even greater
proportions than that which created
mild panic in Wall street, yesterday, re-
suited this afternoon when shortly after
| O'Clock q determined bear raid carried
| almost the entire market down with &
disastrous crash. Reading, which ap'
peared one of the chief targets of the
bear attack, tnmbled ignominiously,
reaching the low point Of 96. The stoch
opened today at rs, after having closed
| last night at 1l3i. The break in thi'
stock resulted in q deluse Of selling
orders IN many other issues, but for
tunately In the midst Of the downward
rush batch OF urgent and hurried GOV
eIiugs Of shorts in order TO realize large
profits In sight on the short side, IT re-
suited In q number of sharp rallies
Reading being one Of the bene6cisries,
which went back TO 80.
Word from Berlin was to the efiec
that New York aduices had worked
disastrously on the Bourse here many
stocks fell heavily and heavy Offering
we're met with no takers. London wa
also severely raped by the Wall stree
crash.
Washington, d. O., March II Score
tsry Cortelyou is keeping q sensitive
finger upon the financial pulse. III
is watching closely the course OF th'
Developments in Wall street, but 1t Il
| understood that he gees in conditions nj
need for governmental interference. III
is contemplating no present action II
relief of the money market other thar
the determination TO leave In the bank
the 100000 placed there last fall
with the understanding that it should
be returned to the Treasury vaults IL
April.
This decision will have the effect g
swelling circulation to that amount
The impression Is gaining ground herr
that Wall street IL hszing the new Sec
rotary of the Treasury. If 80, he is tax
log his knocks without the least sppar
ent trepldsuon. The power OF Wal
street as exerted In years past against
the treasury, and 1t attempts to force
the governments financial hand Is not
new experience for the present head o
the treasury. 1t Is understood tina
these operations Of financial interests Il
influence government policies are inyar
iably first directed against the White
House. Secretary Cortelyou's long ser
vice as private Secretary to Presidents
| Mckinley and Roosevelt thoroughly
| famillari7ed him with the methods To-
yoked.