Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1911-09-22
RECIPROCITY IS
BADLY DEFEATED
Yesterdays Landslide Sweeps
Premier Laurier Out Of
Office.
SEVEN MINISTERS WHIPPED
Ontario Dealt Liberals Terrible
Blow and Quebec Only Gave
Weak Support.

! (By Special Leased Wire to New Mexican
Montreal, Quebec, Sept 22.-Canad;
/ awakened today confronted by {
| startling new situation, developed
from the fact that reciprocity witt
the United States has been rejected
that the Laurier government has beer
defeated, and that R. l.. Borden viii
! shortly be called on to form con
servative ministry. That the chang
es enacted during the past twenty-fou
hours by the registration of the viii
of the electorate are radical, is shown
| by overwhelming majority whereof!
the voters turend down the agreemen
which Laurier had made with thu
| United States for the mutual rernOva
OF duties on food and other natura
products, by the defeat of seven cabi
net ministers out of the thirteen whit
went to the polls, and by the politica
landslide which will retire to private
/, life Sir Wilfrid Laurier, acknowledged
to be one of the biggest figures il
the British empire.
Ontario Deals Terrible Blow.
+! Out of nine Canadian provinces. on
l! Quebec, Laurier's native place
came anywhere near remaining faith
full to him and Quebec did not do an.
too well. Ontario, the greatest o
the provinces, dealt Laurier a terri
BILE blow, lost solidly against him, ant
the same can be said also Of Mani
toba and British Columbia.
| Saskatchewan and Alberta, tw'
great wheat raising provinces, CAV
a mild support to the cause of reel
procity.
Reciprocity Defeat Hurts Market.
The defeat of reciprocity added t.
the weakness of the market. Commis
sion houses report large amount o
selling for Canadian account, o
shares of the Northwestern roads
which were expected to receive tn
greatest benefit from reciprocity.
Northern Pacific, Northwestern
Canadian Pacific, st. Paul, Union Pa
cific, Southern Pacific, Atchison
Reading and Erie first preferred los
from to points at the start.
Among the industrial issues ther,
were some severe breaks. Genera
Electric. which has been heavy lose
fell four points. National Lead pre-
ferred also declined four points; Unit
ed States Leather preferred IL, an
Republic Steel preferred 21-2.
Banks to the Rescue.
New York, Sept. 22.-After the vic
lent break, decided change of from
Occurred, due apparently to bank SUI
port.
| Prices were rushed up even NOR
rapidly than they declined in tn
early trading. United States Stee
preferred more than made up its loss
rising from 103 to LOG, as compare
with yesterdays closing price o
1O5 5-S. The common rallied fou
points from So IA to 81 IA, recovering
all but a fraction of it's decline. Al
most the entire list, with the excep
ton of United Steel, common and tn
Hill shares, rallied above yesterday
close. Canadian Pacific made a ne
gain of points, U. P. 23-S, st. Pau
l IL, and Reading l.
| Bethlehem Steel Goes Up.
Bethlehem Steel preferred was sen
lup from SAL to 5S IL; General Elec
trio from 142 to 145 IA; Great North
ern, preferred, from 120 to 1923; AM
Northern Pacific from II 3-4 to ia Is
! Bears Routed.
! The market ignored all influence
other than the steel situation and tn
defeat of Canadian reciprocity. Tn
violence of the rally was due in larg
part to rout of the bears. When
became evident that substantial sur
port was being offered, the bull lead
iers took the market in hand. Prof
taking sent prices of sharply agail
before midday however. United State
Steel preferred reached 1-2, and Ca
madam Pacific 2 points. The BON
market was easy.
| Opposition Majority Forty-Nine.
The result by provinces, as express
ed in the returns received up to al
|early hoar today, was asfollows:
u Provinco Iihs1s Cons 'tives