Image 2 of The Portland daily press (Portland, Me.), May 10, 1901

Description

AWFUL TUMBLE Trcmcndons Fatt in Stocks Thursday One of Severest Short Collapses Known Corner in Northern Pacific Canse of the Trouhie Ruinous Terms Forced on Shorts Situation Expected to Improve in the Morning New York May tBitter stress devel oped in Wail street by the second hour of trading on the stock exchange today The violence of the commotion had spent much of its force at least for the time being when the chairmans gavel fell announcing the close of the days proceedings The casualities were many but no actual fatalities of importance were recorded during the day During the height of the panic there were rumors of many insolvencies but no confirma tions could be had Those to whom the rumors pointed professed themselves ready to meet all obligations In more than one instance the answer tas to go upon the stoak exchange and placs loans to a large amount as indicating the abundance of resoures at hand But not withstanding these and similiar devices for keeping up credit and contldence the fact was too obvious that credits and borrowing power were shrinking at a prodigious rate But the indications at the close of the day were strong that