PANIC IN WALL STREET.
EXTRAORDINARY DODGES. By Telegraph—Press Association—Copyright New York, May 10. Tho efforts of E. 11. Harrison, Chairman of the Union-Pacific Railroad Company and Kuhu clique, to wrest tho Northern Pacific Railroad from tho Piorpont Morgan and J. J. Hill group of specu'ators has caused an unparalleled panic in Wall Street. North Pacific shares were sold heavily. Short of resulting in an extraordinary bear squeeze they jumped from 160 to 1000, causing a slump in all other stocks. The Standard Oil Company’s shares declined 161 points, and other stocks ten to sixty points.
The slumping market quickly rallied when-the leading operators agreed not to enforce immediate delivery of Northern Pacifies, which closed at five hundred, though neither the corner in shares nor the question of tho control of the railroad has yet ended.
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Bibliographic details
Gisborne Times, Volume V, Issue 104, 11 May 1901, Page 2
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135PANIC IN WALL STREET. Gisborne Times, Volume V, Issue 104, 11 May 1901, Page 2
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