The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-09-22
Denies That He Has Been in
the Market and is On
Short Side
WILL NOT DISCUSS
MYSTERY IN BREAK
Refuses to Talk on Reorgan-
izatlon of Steel Trusts
in Light of
Reason

NEW YORK, Sept. 21.-Following
a turbulent day in the stock market,
marked by the sudden decline Of Unit
ed States Steel Corporation common
stock 3 spoints to 5-8, apparently
on the strength Of the report that the
company was preparing to dissolve
and reorganize in conformity with
the antitrust laws, u report, which
has not yet been disputed by any one
In authority. Judge Gary. chairman
OF the corporation, broke his silence
tonight to deny the remarkable state
ment that he was short 5000 shares
or steel common.
Seen by an International News Ser
vice reporter at his apartment at the
Waldorf Astoria Hotel tonight, Judge
Gary said: Absurd and ridiculous as
that yarn is, l think. however, that
III the present situation | ought TO
break my rule Of silence IN order to
deny emphaucally that there Is the
slightest foundation for this story. |
do not speculate in the stock mar
ket at all. This all my friends know.
They also know that / do not deal
in the securities OF the United States
Steel Corporation. l am not seventy
thousand or any other number Of
shares short Of steel common. l cer-
tainly should not sell short II I were
dealing IN steel stocks"
Closes Up.
Judge Gary would say nothing fur
ther, however, when asked about the
reports Of the determination Of the
trust voluntarily to dissolve and re-
organize in the light OF reason shed
by the Supreme Court decisions in the
standard OIL and Tobacco Trust cases
Neither would he discuss the rumors
tjgfI
days that the Steel Corporation soon
would cut the wage scale OF its more
than two hundred thousand employees
his silence on these reports add to
the mystery of the break in Steel
Corporation issues yesterday, which
came as the climax Of IA situation that
has upset Wall Street as none other
mas done in many months.
Neither Francis Lynde Stetson. the
eompany's chief counsel. nor r. V.
Lindabury. also prominent in its legal
department. would affirm or deny any
OF the reports. Although 1t was per-
sistently runored in Wall Street to-
day that Attorney General Wicker
sham had been seen in that district
early IN the day. The International
News Service learned Tonight that
the Attorney General had gone to
Breton Woods. y. f.. on Wednesday
evening. 1t was said that he would
remain there until Monday.
Mysterious MIR. Wiokersham.
Whether or not steel trust lawyers
have been IN consultation with the
Attorney General could not be deu-
nitefy ascertaired.
In spite Of this remarkable slump.
no bank. trust company or brokerage
house known to be specially identified
with the company Is believed to have
experienced anything like a shock.
From this circumstance It was argued
that the big financiers were prenared
for the movement and accordingly
warned the financial houses most al
rectly interested.
Heavy selling orders poured In all
day from Europe and all parts OF the
United States. One group OF experts
held tenaciousiy to the theory that the
selling orders were heavier from F.u-
rope than from this country.
The fact that J. p, Morgan visited
his banking office to-day for the frs,
time in about week. and that IL was
one OF the few visits he has made
there since his return from Europe
nearly two months ago, increased the
omin0us appearance OF the condition
Whether MIR. Morgan personally con-
ferred either with Chairman Gary or
any OF the steel trust lawyers could
not be learned.
When everybody recalled that James
A. Farrell. the new president Of the
trust. met Chairman Gary at the
Cunard pier at an unusual hour last
Sunday morning. upon the return OF
the latter from Europe, and that tho
two chief officials of the company held
a long whispered conversation there
While Mira Gary was impatiently wait
ing TO go TO her apartment for break
fast. additional significance was given
to the dissolution report,