Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1911-09-23

mo arrangements for the dissolution
of the steel trust have been made, or so
Gar as 1 am aware. proposed TO the De-
partment OF Justice"
NEW YORK. Sept 22-In two hours Of
wild trading today the stock market was
thrown into confusion by a violent break
In prices, followed by an equally violent
recovery. Widely circulated reports that
the United States steel corporation was
preparing to dissolve, in compliance with
the Sherman antitrust law, or that dis
solution suit was soon to be filed by the
federal government led to a flood of
selling orders Railroad stocks, which
we're affected adversely by the defeat Of
Canadian reciprocity, also sold off sharp
ly. After the first sharp oreak in which
N5,000 shares of United States Steel com
mon were sold in thirty minutes 1t be-
came apparent that support was being
lent by powerful banking interests and
trading Became steadier. Once the de-
cline stopped the market turned abruptly.
with the exception of the Hill stocks
and Steel common, the early losses were
eliminated Officials of the steel cor
poration maintained their silence. z. H
Gary, chairman OF the board, declined
10 comment on a dispatch from Wash
tngton in which the position Of the De-
partment of Justice in regard to the en-
torcement OF the antitrust law was set
forth Reports that negotiations between
Attorney General Wickersham and Of
fioials Of the corporations were under
way we're denied by persons in close
touch with the situation.
General List Affected.
The slump in steel had its effect
throughout the general list and there
were declines OF from TO points in m
dustrials and railroad stocks. II was
noted however. that the decline which
the market had had within the last six
weeks had given 1t much strength TO
withstand the Unexpected liquidating
movement in steel securities Weak
spots in the railroad list and other In.
dustrials had been eliminated by the
midsummer liauidatins movement,
Representatives of the United States
Steel corporation continued silent this
morning regarding the various reports
OF voluntary dissolution OF the corpora
tion. 1t seemed to be the general belief
IN Wall street that the steel corporation
had received intimation from the federal
government that It could not continue in
It's present form,
Another factor in TIE decline Of the
stocks of the stesl corporation was the
continued reports OF diminishing basi-
ness In steel products with a resultant
general cutting OF prices and the prob
able necessity OF 'oducing wages
On his arrival at his office today FL
bert H. Gary, chairman Of the steel cor
poration. declined to discuss the disso-
luton reports in any respect. Counsel
Bolting. OF the corporation likewise de-
clintd to be interviewed.
RoiIrOad Issues Lower.
The defeat OF the Canadian reciprocity
added 10 the weakness of the market.
Commission houses report a large amount
OF selling Tor Canadian accounts. The
railways here which had held steady
during the previous days Of the slump in
steel stocks weakened today. The loss
was most extensive among the North
western roads which were expected 10
gain the greatest benefit from reciprocity.
Northern. Pacific, Northwestern. Cana
dian Pacific, ST. Pou Union Pacific.
Southern Pacific. Atchison, Reading and
EriA ureferred lost from one In four