Omaha daily bee., 1910-06-30
.SEW TORE STOCKS AND BONDS
Rate Decisions Arouse General Alarm
IN Wall Street.
FALL N PRICES Is RESULT
nfoa Pacific. Missouri Pacific.
sosthern Pacific, So Paul, Read
ing and Oth~r RatIrsads
Are Innaeaeed.

NEW YORK June n--Sneuuiatfve seuti-
uert t1uk FtuienE alarm today over the
aeclElons aunounced By the Interstate Cuu-
meroe commission N number Of important
rate cases atfeCtlnG portions Of the trarflc
o. PRACTICALLY al the great rranscuuUimsnIal
ralaiuad nnes. The terms IN winch the
OBJECTIONS % these rates had been con-
tested By the railroad Gfflcials themselves
IA me course q the hearings ia n ash
mEton ana the disastrous consequence
predicted by them In the event OF the OBJ
lecuons beng sustained come nack 10 con-
'front.' them Today while the prices OF their
company ShaTLH were crunoiinE IN ae-
moraliEalnun- The market, IN no condition
20 Withstand the torrent OF selling orders
which was let loose by this news, ana the
TAI In prices pruceeced with q rush
The realization uf the rurce Of une news
seems 10 come but gradually and the
market Was IN a mood Of comparative
tranquility during the morning ana for
some time after the news agencies had
circulated the builsr1nE Of the Interstate
Cummerne Emission decisions. The pow
sTrua bear party whach has taken an or
CANNED form in the recent speculation
Z gathered courage from the demunErf'lI1un
q me underlying weakness OF the market
ana took every sdTanuAGe q the situation
This demonstration came from the quick
subsistence OF demand Of stDckE and sUrlk-
! ing tendency towards recovery Of pr1ces De
came manifest These periodical rsc0vsries
during the morning were consistent with a
more hopeful feeling than was prevalent
about crop conditions
AT numoer OF me railroad net earnings
L -IorrB Ff the Gay showed better COM
! partsCns With lasI years corresponding
z PERIODS than has been the RUE with re-
] cent reports. the case holding true Of
/ Reading and Cn3un and Southern Pacific
I IN which there were conserved consider
Z able increases IN net earnings tor MAY
IL spite Of the generous margin Of Increase
II operating eEpenseE. In the metal trades
there was a sharp upturn IN me prices OF
copper in London. and cuusuupt1Fe de-
1 mRnd In this country was reported large
I although production st1n sustained The
weeks volume q business IN Pig iron SHOW.
an increase and the downward course Of
the price encounters the resistance Cue q
It's approach 70 the cost OF production
Hopeful views Expressed By Chairman GARY
OF the United States Steel corporation OF
the trade outlook had a part in shaping
opinions of conditions After lying d1sre-
garded IN brGkerz' offices for part Of ths
morning, the reports Of the Interstate Com
merce commission rate decision were takei
I'D for confederation.
The bare recital of the text Of the de
cfslons conveyed very little 70 the under
standing Of the ma jur1ry Of the trading ele
ment. ewing TO Lhs highly technical Esruri
Of the Questions involved The percentage
mentioned applying 10 the reductions
/ ordered were seizsd on rs affecting gros
traffic figures. and supposedly, tOta
1 present earnings OF the numerous rn1iroad
concerned. with collateral effects deepll
CONCERNING connecting and. in effect, tn
whole railroad system Of the county.
was In this mood that Union Pacific wa
sold down to ga: Reading, 5, MiHsour
Pacific. ~: ST. Paul. Southern Pacific an
Louisville a. Nashville. q. United state
Steel 81 and q long List Of other stocks.
10 points. The first rush 10 cover of IN
shorts and the resulting rally Was fODowe
by fresh break in prices, but the ma-ks
closed with a secondary effective rally i
progress.
United States bonds were unchanged o.
T call
Number OF sales and Leading quotation
/ stocks were a follows