Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1910-06-04
new YORK STOCKS AND BONDS
Frices Break with Violence, Showing
Panioky Influence.
RATE INCREASE CAUSES ACTION
Confidence Expressed by some tha,
Injunction Against western
Trunk Line Advances VIII
lie Dissolved,

NEW YORK, June S.-Prioes OF stock,
Uroke again today with a violence slmos
uhe Aduibied outside OF times of absohIt,
panic. Ihis was after a show OF resistanc,
~ tne FORCES or depression during the earlN
nours, when the heaviest selling that an,
peared seemed to be easily absorbed a ~
prices rebounded repeatedly from the de.
The action Of the market at that time
save rise 10 an impression that the worst
OF the shock had been absorbed ana mai
CONDITIONS were ripe for a recovery. TJncoV.
lion o sRQ PS were made nervous by this ae-
ency by their buying to cover ~
Inc Kind OF explanations Offered for the
rsc0vefy showed plainly how attention re-
.ne goVernments policy towards railroad
rate increases. There was Circulated for
instance, an expression of Confidence from
an s,lo nous legal authority that the in
ganCl9h against the western trunk line
RATE advances would be promptly dissolved
<Auo.ner ruInor alleged that President Taft
IDLY Somt.eilpIated statement in one of his
western speeches calculated to nllay appre-
neison. Lhere was no attempt to offer
authorfty for these assertions,
IN the other hand, there was no lack of
aTutnorty Tor expressions OF the gloomiest
views by prominent railroad officials OF tSs
SHisastrous consequences they saw threaten
, sd a,oln me holding up Of the intended rate
PRESIDENT Brown OF the New York Central
was quoted as saying that the credit m The
tSiit tS has been almost totally DESTROYED
D.
VIII be almost impossible in in his oEinion
apr any railroad 10 secure a loan here or
President Brown was quoted further as
saying that $4,000, 600 of New York Centrsi
Donds had been sold in France at $50 cents
Browns colleague, Albert H. Harris, Sent
eral counsel of the New York Central ws q
GTGotea, on his fresh arrival home from
I,taahcS, as expressing great satisfaction
success In an nnoa
SSIeyeland, Cincinnati, Chicago & 81. Louis
PONDS which are to be issued to the French
psV a. G. discount OF per cent, or price
ne ehces were to the same transaction
me use made OF the Brown interview
wa MaS a., eiiectlye IN precipitating liquidation
a AZ IN breaking prices to the lowest level
VI tne year: There sprang UP a series of
rumors dealing with the probable furtheT
the p nr oe DE taken by the government in
ESQ ESQ MADE or the fragmentary extracts
rom rom PRESIDENT Taft's speech at Ada, o.,
snpSG,aly tne passage, 1T is reasonable to
11ecade there Will be some reaction or some
linsncial stringency, or perhaps a financial
Also the passage: II think the issua ~
most Importance will be the Question ~
Lhe preservation Of private property or Ire
destruction and the substitution OF a GER
tain kind of cooperative ioint eniovnsnt
sm." ~ Va SO|ial-
These words of the chief exacptiva ,rou0
reported on the news tickers almost WIFI
put context and in sensational suggestive-
ness or extra spacing between the lines,
me mood of the speculation became
fairly historical at times and last prices
were not far from the lowest Union pa
cltlc was down 81 on the day and Reading
New York Central, the other PacificS
United states Steel, Amalgamated Copper
and the railroad equipment stocks in The
ne aGh6o hood Of points.
I, $50 OOo. United States bonds were un,
Number OF sales and principal quotations
stocks