The evening world., 1911-10-27

49,
The Il nght In the Exchange
started vita a block OF 5000 steel be-
ts thrown overheard a. % TO 5sih. as
against the close NJ 5sil for the day
before. a feeble rally brought the
price back to 5ilg. and $500 shares Of
stocks went TO The hopper for the Graf
hour. The rally was not due for any
long life.
STEEL DROPS TO NEW Low
RECORD FOR THE YEAR
The storm broke with renewed fury
ne the rally which .foRpwcdi the ars,
outbreak resulted N FURTHER selling m
an enormous scale and inc market ne
came demorallzed. storks fe,i 10 lsRsr
prices than at tho opening, u = stsn
dropped to 30. a loss ~ s1.s points ana
a new low record Tor Mo year. TNt
preferred stock fri, hack To lo3 - safes
OF the common stock in the nrst hour
OF trading were 2oo. 900 shares. ,f .b-
The stock market. showed more gem
eral weakness tlrin' on the dret deellnvs
Standard railway issues, such as Cnlon
Pacific and i,eadlnS, were forced down
about . points. Industrial stocks OF all
classes were extremely weak.
The market was badly unsettled all
the morning. Occssional rallies showed
that attempts were being mad to sup
port prices. hut each recovery served
only to invite further selling.
The Importance 81 the shrinkage In
the value OF tho common and preferred
stock OF the Steel Trust viii bo apprc.
ciated In view OF this statement. made
to-day, by n man who Is n director IN
two big banks;
~ 70 over our loans twice q week,
ana Z nnd that ont Of evory nifty loans.
forsy-nvs Of them have si:hsr steel
coasnon or preferred - . part OF tbs
collatsraL That 10 the general condl-
eou In new York banking institutions"
Among the men to whom the general
public looked for some statement rela-
tive 10 the big suit there was not the
slightest indication OF unusual activity.
Ebert II. Gary. chairman OF the
board OF directors Of tire Steel Corpora
ton. reached his office at 1880.
u have not given the governments
suit any consideration" he replied to
requests for a statement. Lf|
A. for Francis Lynde ,Stetson,
~ for the Trust. no remained at his
country home and his ONCE associates
said they did not expect him to oome to
town during the week.
CARNEGIE BENEFAcTioNs MAY
De INFLUENCED ~ SUIT;
Andrew Carnegie declined to discuss
the suit. although II was stated thai the
dissolution OF the trust would require a
readjustment OF the. major portion cf
his benefactions for the reason that
they ere composed o. stee, securities.
He sent wore through his secretary inst
II he concluded to make a sta ternent he
would do. so In a general. formal COM
municat!on.a 49,.
Theodore. f,ooseyslt asdd}ned to-day to
make any. staeurneJ ever Concern
ing the Governme4RskNlG In which II Is
stated that he. a2 BIC. then President Of
the United StatessN al tt5eked by lepre-
senatives or the kf1 Trust intk per-
mitting the clos I'M the TENN ssee
CoAa and Iron 4hich IS nov at
tackled as an ille6 AL, n (,
Have. YOU read4hssA stitlpnT" NJ was
asked. IN nAss N% =.
wan Ieaa 'ErevttE Nv. =
~ sets torth Eft yae we're aseeived
wsun resaru 10 Y~yYAen9sssee csea ana
.ron ipa o.a aFp Sou xosps 10
ss"~" Sc. 49, wssS thA'' ~ -
~ e""' -" Hseesn'o @Fh'g u
""u ~
issue 'ro" " irHssee yca' anu
~" a"'e'' wv o"yoser'W 'he
n..u"y sso prbsSs OF the
- % ~
.yvm, ,sr
., "'"s,meha a''e'
ct. -, rs,SsN. pe'"ion' ~.
,..sman, a,n..,, ioo" " Z
tee IN Huv,.,a ho 80. sr,v
..ra a., 80" V"' s"ss'S'ou'
The total sales o. storks nm 10
o'clock were l.o23, 800 shares.
the Dill was nisd In the United
states court at rreptoR yesterday ask.
ing Tor the dissolution OF the corporation
and It's subsidiaries, Attornsy-Ge nsral
wickersham also hled "a certisaeate 81
pupic Importance This states thai
the case is OF utmost Importance to the
government, and asks that IL be heard