Pine Bluff daily graphic., 1911-02-25
RATE DECISION
 UPSET THINGS President Nudge, of Rock Island, Says it Means Stricter Economy on
 Part of Lines. MARKETS EXCITED
MARKETS EXCITED
Extends to LOndOn-President Baer Says Public WilI Suffer With
 The Railroads.

l New York, Feb. 24-The Interstate Commerce Commissions decision against the increase of freight rates, was designated a negative proposi- ton, one which would show it's ef- rect Tn way that would not be appar- ent to the general public, by President Nudge of the Rock Island railro,, system
 ! We simply will have to go through our systems again and hold down po strfcter economy said Mir MuJye It will be an insidious tvimmi,y down, not apparent to the gene, al ob- server. l don't think there vii. bo 2 disposition to allow the conditioo cf the properties to go backward T,o economy will have to come from op- eration
 While this decision won't affe.. ousfness, that l can see, yet curtai!- ment in purchases may force a shade off steel, lumber and iron pr. ,ce. i Chicago Affected. chicago Feb. 24.-The Tnterst1.e Commerce Commissions decision in the railway cases was. reflected here today in lower range of prices o., lhe stock exchange. The decline ranged from one to two and 8 half points, with business small.
 Reaches London. London, Feb. 24.-The decision of the Interstate Commerce Commission against the proposed raising of freight rates in the official classification and the Westers Traffic Association ter. ritory of the United States caused a shock in the American section of the stock exchange today. A rush of selling orders from Wall street was the signal for d somewhat wild slump in prices from two to eight points be- low yesterdays closing.
 In the first hour both local u adersi and continental representatives threw out their stocks Then covering movement set in, and prices picked up from one to three points, the mar ket anxiously awaiting the Wall street opening.
 ] What Baer Says.
 Philadelphia, Feb 24.-George T. Baer, president of the Philadelphia and Reading company, and heod of the Central Railroad of New Jersey, in a statement given out today, ex- pressed great surprise at the ratel decision of the Interstate Commerce Commission He says there will be a curtailment of railroad expendl- lures, and states that Eff the result shall be to bring about a general re- duct:on in wages and a cut in pur- chasing material and supplies, in the end the railroads will suffer no more than the general public''
 Heavy Selling Results. New York, Feb. 24.-Refusal of the Interstate Commerce Commission to grant higher freight rates to the East ern and Western railroads was the signal for heavy selling of securities at the opening today. Previous to- the opening there was extensive liq-
 uidation of Americans in London, where prices fell from ? to 8 points The principal features of the opening were:
 United States Steel which opened with a block of 3O,o00 shares at a loss of IA points, Reading with 200 shares at 152 IA, followed by 10000 at 154, compared with 159 IS, last nights close; Union Pacific, 5000 shares which sold down 3-4 points; large blockks of Northern Pacific at a loss of 1-2; Great Northern pre- ferred, which was off 2 IS; Lehisi Valley. 5 S-4; Missouri Pacific 51-4; Wabash preferred 1-4; Southern Pacific 3-4; Mis- souri, Kansas and Texas, St. Paul 1-2; Santa Fe, 5. and others declin- ing with a range of to points. The market was active and feveri:h with slight improvement after the earlier quotations
 Prices began to go off again with New York Central extending it's loss to ever points. United States Steel going back to v and other important stocks ruling within a small irac- ton of their lowest, when the SUD- \ porting orders were once more dis tributed and the decline was stopped. Reports of conferences among leading interests to esuange for all conting- encies reduced the aggressiveness of bear operations.
 Bonds were weak.