FINANCIAL DISASTER.

Taranaki Daily News, Volume L, Issue 59, 16 March 1907, Page 3

FINANCIAL DISASTER.

PANIC IN WALL STREET. DEMORALISATION CONMNTES. OTUKII EXCHANGES AFFECTED. Received March 1">, p.m. New York. March M. The panic in Wall street eoutinw*. During violent doe-lines two and a hail' million shares were sdd. There were similar cxpericuets qt Boston and Philadelphia. u *"' men .vli.a s cEiiiis. RAILWAY MAGNATES' A<A'l"SA- ■ TION. Received March 1.1, 11.30 p.m. London. Ma nil 10. The Daily Mail New York cone>p<ndent savs it is almost entirely a lien man's crisis. The railway magnates accuse President Hoo-evdt of emouiagi tlic State Legislature* t • pass measures amounting to coniisiatioii. SITUATION VKRY SERIOtS. 100 MILLIONS DROP IN A DAY. , BIG FAILURES MTKKHtNDKD. Received March l.>. I.Hi a.m. London. .March U. The "Daily Telegraph" New York correspondent says it is impossible to exaggerate the seriousness of the linantial situation. The outcome Wk> dangerous when shaves declined over onhundred million pounds in one day. I nless relief comes, hall' a dozen brokerage houses or banks must succumb. A financier of international reputation and a railway king have \ oth been < forced to seek accommodation. Cull noney has touched 25 per cent. <• ujity :)f the Jury. i