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Newspaper

Washington Post

Location

Washington, Washington Dc, United States of America

Date

Mar 15, 1907

Page

9

Wall Street shows historic volume as stocks plunge

Trading crowds crowd brokers offices as prices swing wildly 2 500 000 shares traded marking the day’s chaos. Declines dominate leading issues with Reading Amalgamated Copper and Union Pacific among the hardest hit. Money rates spike, margins pressed, and a bank relief plan discussed amid a wide selloff.

Shaws Kettyes Autontee i Lalimore Sid Unio Ie Hirookon Tapid Ceaosit Pau Reat Titer -Worrapolitan Aavtee Na Sashevie Minoy Pate Dintarto Borfolk Pennsylvania Reading Rock Island Sowthern Union Paeite Chicago Northwestern Copper Belxware and Hudson Aynelers Sugarolorado Fuel General Electr Republic Lion and Steel Union Paafle Transac Jhona MS To Mei

Slump at Philadelphia Stock Exchange echoes New York

Panic spreads from New York to Philadelphia as stocks tumble. Reading led declines in Deviaque price. United Gas Improvement dropped to 80 1 2. Cambria Steel to 21 4. Blacktil Storage to 471 2. Lehigh Valley and Lehigh Navigation also fell, with many stocks near their lowest prices in years. The close showed a near bottom, with marks near historic lows.

Philadelphia Philadelphia Stock Exchange New York Cambria Steel Lehigh Valley Lehigh Navigation

Millions Poured Out Orders Unlock 71 Million Relief Moves

Secretary Cortelyou freed liquidity in New York by unlocking about 71 million dollars in Treasury actions. Banks could retain extra circulation while substituting bonds for public deposits and redeem up to 25 million in 4 percent funded bonds. The move aims to cushion stock market stress without setting a lasting precedent.

Cortelyou Ots Dastle Wall Street New York Treasury Secretary of the Treasury Department United States Pee Eee Secow

Treasury plan to redeem 4 percent bonds of 1907

The Treasury announces revival of retirement limits for bank bonds under the Aldrich act, with monthly retirements rising to nine million dollars. Banks to replace depository bonds. customs receipts shift to select cities. Immediate redemption of 4 percent bonds of 1907 offered up to 25 million dollars, with interest through July 1 1907.

United States Thimney Treasury New York Boston Philadelphia Baltimore Chicago St. Ls Cincinnati New Orleans San Francisco Buffalo Cleveland Syracuse Roche Pittsburg Detroit Plattsburg Diatburg Albany Troy

Copper Stocks Drop in Boston Market Slide

Panicky trading hit the local copper stocks today with heavy volume as brokers piled in sell orders. Prices fell sharply through the day to new lows, money rates rose to around 4 percent, and several major issues declined, including Trinity, Osceola, Copper Range, Utah, Quincy, and Butte Coalition as remargin calls drove selling.

Boston Mar Trinity Osceola North Butte Copper Range Utah Quincy Tatharack Butte Coalition

Thines Capital in Danger View of Government Control

Southern Ice Exchange delegates at its Atlanta convention adopted resolutions in alarm at national state and municipal actions against invested wealth and corporations. They condemned labour hour limits and employer–employee legislative interference as harming business confidence and labor quality. A copy was sent to President Roosevelt.

Atlanta Southern Ice Exchange Roosevelt

Miners Protest Seek Federal Rail Rate Review

President John Mitchell of the United Mine Workers W A A and W D Ryan of the Illinois miners group with Indiana Railroad Commission official Commissioner Wood left Indianapolis for Washington to oppose a 10 percent rate hike by coal carrying railroads before the Interstate Commerce Commission. The miners say higher charges will be passed to workers as operators cut wage scales to meet the increase.

Indianapols Ind John Mitchell United Mine Workers of America W. D. Ryan Illinois Mine Workers’ Organization Wood Indiana, Railroad Commission Washington Interstate Commerce Commission

Conference in danger as McCrea resists invitation

Railroad leaders clash over a White House meeting set to discuss Roosevelt’s rail policy. McCrea says he will not attend without an invitation, while Harriman and other presidents push for federal regulation and further legislation. The administration presses ahead with its program and probes anti trust actions against the Harriman interests.

Harriman H. Rogers Rogers McCrea White House J. Pierpont Morgan New York Finankler James McCrea Pennaytveante E. H. Harriman Washington Pennsylvania Gov. Dineen Brend Ilinois K H. Harriman Interstate Commerce Commission Hlinots Tharreman and Hig Associates Chicago and Alton

Railways debate warns on stock watering and demand for reform

Cincinnati banquet speech warns that railroads are increasingly controlled by financiers, not operators, with watered stock worth billions masking real value. Gov. Smith calls for expanded Interstate Commerce Commission power, public rate oversight, and limits on ownership. He supports stronger regulatory action and cites La Follette as aligned with reform.

National Railroad Commission Supreme Court Bench United States la Follette Smith Wisconsin Senator la Follette Mr. Smith

Weather Forecast For Friday Through Saturday

Weather conditions show heavy rains in the Ohio Valley Wednesday, none Thursday, with Gulf and Atlantis States receiving rain except the extreme Southeast. Snow in the Lake region and Upper Midwest, colder in the North Pacific coast and Atlantic regions, warmer in central valleys and West. Rain likely Friday in the South Atlantic and East Gulf, with showers in the Eastern Seaboard Lake region and Montana, continuing Saturday in two districts and parts of the Northwest. Winds on the New England coast brisk west to northwest, lighter along other coasts, with steadiest winds toward the Gulf and Michigan. Local readings list temperatures from mid-evening to early afternoon, with highs about 73 and lows near 46. Rainfall trace. sunshine 0 percent. High tide 9:52 AM, low 5:37 AM, sunrise 6:10, sunset 6:07.

Ohio Valley Gulf Atlantis States Lake Region Miasisaipp Pavufia Oho Valley Middle Atlantic States Gulf States Upper Lake Region West South Atlante East Gulf States Sewer Lake Montana North Padre States Rtates Atlantic Atantic New England Middle Antlantic South Atlantic Elorida Gulf Coast Michigan Grand Banks

Also Mentioned on This Page

Herriman London Amalgamated Anaconda, Smelters Delaware and Hudson Sloss Sheffield Union Pacific Anaconda St. Paul Great Northern New York Central Northern Pacific Reading Southern Pacific National Administration James Speyer Spayer Tressury Cortelyou Herrimant Southern Yale Rock Island Souther Alton Afi. Harriman Toell Iirst Frank Vanderlip F. A. Wanderlie National City Bank IPA la Price Atlantic Coast Line Vommeen Baltimore and Ohio Wena Chicago and Northwestern Missouri Pacific Northern Pacifict Paavo St Pauli Erie City of Treasury Department Shaw Secretary of the ‘Treasury Thines Bay Penny Thina Department of Fusnce Morgan Knapp Congress Indiana Iit A. B. Buckney Chicago Great Western Firesd Yaats Stickney Panama Paris Hoke Smith Cincinna Ohio Cincinnati Receivers and Shippers’Association Harrison, Morgen and HI Vanderbilt, Moores, Gould, Pennsylvania Ckefeller Publc Peter Grogan American Security and Trust Company Charles J. Bell Wm. A McKenney Ward Thoron Alfred B. Leet Trust Department Fifteenth and Pennsylvania Ave U. 3 Dept of Agriculture Weather Bureau Tauradey Kenawha Wheeling Parkersburg Tatler Place Marfetts Madison Louisville Evansevisle Mount Carmel Missouri Jefferson Oak Sioux City Towa Bisquehanna River Harrisburg Aghaville Nic Atlantic City Ismer N. Dak Mass Chiehmastl Ohioe Cheyenne Davenport North Ptnite Nebr Io Ordaha Nebr Iy Pittsbors Galt Lala City St. Louis Cal Springfield Thee Vicksbute Mir Berkeley Rye St. N. W Wilson & Mayers G Street Solia Eran Columbia Phonograph Go F Street 8 Randle Highlands Enyaette Area Ay Company Ih MO Realty Company la. Ave Ps. Ave N. W Firemen’s Insurance Belmont Dairy Go Iain Oe Taka Christian Xander Traver’s Business College Ith Berlitz School Pane Ee Louis Teres Feachera Lesser Press Farina Ginit Barloe Ira Beans College Indy
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