New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-05-11
FAKE RUM0R,
WILSON KILLED.
UPSETS MARKET
Bucket Shop Trick to Avert
Heavy Losses Lowers
Prices for Time.
Won BERNSTORFF
SHOT, ANOTHER YARN
War Mobilization Plan and Fleet
Review Abandonment Add to
the RumOr Crop.

The man who creates the rumors had
what he should consider good day
yesterday.
He shot President Wilson and Am
bassador Won BcrnstoriF. called Off the
North River fleet review, sank the
steamship 81. Paul, and then sent Gen
oral Leonard Wood, in command Of the
Eastern srmy division, 90 Nashington
to confer with President Wilson about
modifying the troops for var.
The report about President Wilson
was productive OF real harm. About
1890 o'clock yesterday morning the
rumor Of the Presidents assassination
reached the Cotton Exchange and i'm
mediately prices fell from to points.
At 1850 the Stock Exchange had IT,
and in a few minutes the exchange
floor was panicky. That the report was
true was not doubted sufficiently to
keen the market firm. Reason had been
unsteadied by the Lusitania sinking,
and no rumor could have been too thin
to not affect the shaky traders.
Bucket Shop Fake.
Heavy selling followed the Wilson
report. Practically all Of the STOCKS
that saw remarkable advances during
the last three weeks began to tumble
as soon as the false news got into gem
eral Wall Street circulation.
IL was close to o'clock before sta
biity again marked operations on the
Stock Exchange. BY that time there
had been acccmplishcd what the board
of governors believe was the real pur-
nose of the rumor. William {. Van
Antwerp, one Of the governors, began
an investigation and learned that the
report came from Pittsburgh over
leased wire. Pittsburgh is the head
quarters of the bucket shop brigade.
Every time the bucket shops are hit by
a continued rising market rumor Is
circulated of some disaster whose CON
seouences are certain to topple the
prices.
This rumor Yesterday was effective.
n knocked the market off 2 3-4 points,
point more than sufficient % wipe out
the holdings" of bucket shop specula-
tors. The great bulk Of business IN
these places is done on per cent
margin. but ii of a point is deducted
for a commission which IS never exc
cuted. so that drop Of ony 3-4 points
is enough to close out the Spectator 5
account"
Spectators Lose Million.
It is estimated that the rumor saved
at least 100000 to the bucket shop
men n New York, Pennsylvania and
New Jersey. Undoubtedly the stock
CANDLES throughout the country SUI
fered a loss Of more than Sl,OOO,OOO.
Tn, story that Won BernstorH had
cen shot came after the stock market
had closed, but IT kept the telegraph
and telephone wires heated for several
hours.
Late IT, the afternoon it was reported
that President Wilson had ordered Adj
miral Fletcher 10 withdraw the fleet
from the North River. This rumor was
circulated over the New York News Blu
reau ticker, and Immediately atterwald
veriiication wa sought from Washing
ton AMI from Philadelphia, where Jo-
sephui Daniels Secretary of the Navy
was Secretary Daniels quickly wired
back that the report was not to be cred
tied.
The report that General Wood had
left in . special train for Washington
on summons from President Wilson
was also given currency through the
ticker servicc Of the New York News
Bureau. Discussion Of tits rumor
quickly ruilt it up into q war scare Of
good proportions, for the news" was
not long N spreading all over the city.
At Governors Island, where General
Wood has his headquarters, the scene
was one Of pastoral quiet. Colonel Ed
win +. Glenn, Chief of staff, was play.
ing golf. Captain Dorey, of General
Woods staff, was at dinner when a
reporter called.
Gene ~al Wood went to Summit, y. j.,
TO keep dinner engagement made a
month ago." said Captain Dorey. lie
took a launch from here because he
would not have had time to catch his
train had he taken the regular steamer
from the island"
Tho st. Paul story was that the liner
had been torpedoed. 1t was circulated
about noon, and the report was so
trimmed with detail that for hours II
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