Norwich bulletin. [volume] (Norwich, Conn.) 1895-2011, 1909-05-20
FINANCIAL AND COMMERCIAL,
MARKET UNRUFFLED
BY the Sudden Death of n. n. Rogers,
Capitalist.

New York, May i9.-The stock mar
ket has rarely met g death of a CAP
italtst of foremost prominence with as
little dlstur bance as was caused by the
sudden death this morning of H H.
Rogers. 1t was concluded, from this
that there was little ground for the
anxiety professed for several DAYS past
that the speculative position had be-
come unstable and vulnerable. From
passive resistance to depression the
tone passed to positive strength. The
demonstration OF resisting power could
not well have had other consequence.
since the fear Of over speculation and
topheavy condition of values which
might lead to violent relapse In case
OF accident had been the sole unfavor-
able factor which could be pointed out
in the situation. Prices have suffered
more serious sstbacks often on rumors
of Mr.. Rogers death or serious Illness
than happened today following his
death, Mr.. Rogers has represented to
the Wall street supposition as much as
any one man, the central figure of the
vaguely defined STANDARD OIL group"
which Ia tie most potent Of all the
dinEiy apprehended forces which work
concealed from view and supposedly
armed with the most complete knoTI-
edge of conditions and control over
their regulation. The sudden removal
Of such a force Eney have disastrous
consequences to speculativespositio
as in the cose Of the sudden &aath of
Ex-Governor Flower in the crisis of an
excessive speculation in which he had
been the controlling figure. Even
whore there Is known to be no heavy
speculative commitments in the stock
market, decided depression is some
times caused by the death of "a man of
the vast property interests and admin
istative activity of Efr. Rogers. The
extreme effect today was measured by
q decline of 1 s-E in the price Of shares
Of Analgafnated Copper, of which
company he was president and of Is
in Consolidated Gas and in St Paul.
in which he was a director The rea-
son for thAs trhpertHrba biIity Quickly
came to be understood in the general
withdrawal of Mr. Rogers from stock
exchange operations of late years. His
engressnlent with his pet project of
the Virginian Railway diverted all his
attention. Furthermore it was believ-
ed that the state of his health since
an attack Ia 1907 had induced his re-
tirement from many former activities
and the placing of his affairs In order
to guard against the event of today
The impression Of the strong underIy-
ing condition of the stock market po-
sltion was not the less strong on ac-
count Oh IIlt5SC pudndllOllSf OF the re-
sislancs shown. Factors Of encourage
ment in the outlook which have been
in allegiance for several days came into
play again. United States Steel, of
which Mr.. Rogers was a director, was
couspicuGusly strong rising through
its previous record price of IS 3S to
- 3-4. Chesapeake and Ohio, at go
ALSO touched a price never reached be-
fu"c by that stock. The movement in
steel was attributed to the restoration
of wages by the Independent Steel
company and the inference drawn from
that action as to the returning profits
Of the industry, even at the lowered
prices at which the recent heavy or
ders have been booked. News from
the copper trade Continued very en-
couragins, and a buoyaA rise in cop
pers was in progress In the London
market when the decline in Anal ga
mated Copper ON account of the death
of the president of the company check
ed the advance Crop newse was con-
sidered favorable, 1n spite Of the rise
in the price of wheat The further
outgo OF gold to France had no infiu-
ence. Currency continues to arrive In
such volume from the interior as TO
serve as an effective offset. Bonds
were irregular. Total sales. par value,
$4,772.000 United States bonds were
unchanged on call.