Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-05-21
RELIEF FOR STREET
Standard Oil Decision Re-
moved Big Load From Market.
PUT BEARS IN A PANIC
Caught Overextended, They Bid
Prices Up on Themselves.
PREPARING FOR BIG TRADE
Many Scores Of Millions Released for
Use Of Business Enterprises.
Looks Like Prosperity.
By W. G.. Nicholas.
Special Correspondence Of The Star.
NEW WORK. Mo-, on


NEW YORK, May 90. 1911.
Wall street is experiencing a sense of
great relief. as though a heavy weight
had been taken off its shoulders which
in fact, is precisely what has been done.
1t is luxuriating in sunshine, after full
year of depression. doubt and uncertain
ty. The Wall street Of today is as diff
ferent from the Wall street of a week
ago as light is different from darkness.
And all because Of that Supreme Court
decision in the Standard Oil case.
The stock market welcomed the receipt
Of the news OF the decision by cutting
loose and celebrating the event with an
enthusiastic boom in prices. In two days
the market leaders advanced from 3 to
points and the rest OF the list dropped
into step, although not going quite so
fast. The sense Of relief was deep and
widespread. 1t was as though irons had
been stricken from hands and feet and
the lungs given a chance to fill up with
invigorating air.
Hundreds of millions of dollars which
had been held in restraint have been
liberated and now await employment.
The first opening presented was the stock
market. 1t was there that the initial
manifestation Of satisfaction was given.
of finance and industry gave the word
that the torture of repression and sup
preston was over and that business
might go ahead with safety and without
fear of further interference.
Oil Trust Satisfied.
The oil trust makes no concealment Of
the fact that it is more than Satisfied with
the result. and it will cheerfuiiy go
through the form of a reorganization
which will be done without IN any way
interfering with the control or seriously
disturbing the old organization. Attired
in new suit of clothes, or perhaps two
or three new suits, the old Standard Oil
monopoly will continue to buy, produce,
refine and sell a large percentage OF the
oil that comes out of the ground in the
United States as 1t has been doing for a
generation or more. In due time the
exact form and style of the newborn
trust will be announced. Not a dollar $
Supreme Court decision abolishing the
Standard OIL trust and business will be
continued at the old stand with the
slightest possible inconvenience or change
Nevertheless 1t will continue to be hailed
as a great moral victory for the public
The big interests are admonished to be
good and at the same time their success
full prosecution for being bad has been
practically destroyed. except in the one
particular. that the officials may be fined
and sent to jail-at the end of protracted
and costly litigation which will have to
be paid by those bringing action, whether
it be the government or private parties.
The benef1cent effect of the decision on
the stock market and on general business
cannot be disputed. 1t is a fact which
stands out in boldest relief. It finds ex-
preston not only in an instantaneous
broadening out of stock speculation. but
also in the sense Of buoyant relief. which
is voiced in every industrial and trade
quarter. The emancipation from the
thraldom of a protracted deadlock Is gen.
eral. 1t Is seen from ocean to ocean, and
deep and genuine. It contains promise of
good times and OF wholesale and i'm
mediate improvement. It IS what the
country has been working for and there
is now further excuse for delaying
a revival of activity in all departments of
business life. and OF a complete restora-
ton of confidence. Railroads having
themselves with fresh capital to
the amount of at least se0o, 900 600 since
set the ball rolling by sending in orders
to the steel and equipment companies for
rails and other metal material and for
cars and locomotives. They can begin
spending money without further delay,
and the indications are that they will be
doing so very quickly, There Is q willing
tendency everywhere to loosen up, and
an era of good times appears to be In the
immediate forefront.
Business Can GO Forward.
That court decision 10 the most I'm
portant event that has transpired in a