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TRAGEDIES OF THE WALL-STREET "SLUMP." The sudden and sensational collapse of the stock market on February 25 (writes a New York correspondent) came at a moment when the four biggest capitalists In the country. Messrs. Morgan. Schiff, Harriman, •and Reid, were significantly absent from New York.

Mr. Harriman is camping in Texas. Approached by an interviewer, he declared that the"flurry w-as causing him no anxiety. The following terse conversation then ensued: "Are you cut off from business altogether?" "Young man, 1 am no fool, but don't put thn in the paper." "I'll say 'dashed,' " ventured the interviewer. "No. sir." snid tile magnate, with a sly twinkle in his eye. "If you say anything say what I said." Mr. Harriman concluded by asserting that those who are profiting by his absence to assault railways could not do any harm. Thousands of speculators are to-day (continues the correspondent) bemoaning the loss of fortunes. The estimated decline of values amounts to hundreds of millions of dollars. The majority of margin traders wore completely extinguished.

"My storks have gone down 10 point! in file Wall-street smash, and I am ruined," exclaimed Mr. Samuel Alleles, a rich mer-

chant of Now York, to liis stenographer. 11,. hurried home and there shot himself. It is feipvl that more incidents of this tragi. l character may occur within the next few d.iys. Tlie ~pinion grows that the "insiders." ihe big capitalists, are again preparing to reap a rich harvest. They sold out at the top of rhe "bill!" movement when the public bought, and when stocks reached the lowest point the "insiders" wiil once more buy.

Until the Ways and Means Committee meets early in March, the condition of the maiket. despite a temporary rally, Is destined to be most erratic, for It Is believed that Ihe S.eel Trust is endeavouring to furnish the Government with an objectlesson of the folly of carrying into exejutlon the proposed drastic reductions of the tariff.

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Bibliographic details

LOST FORTUNES., Auckland Star, Volume XL, Issue 85, 10 April 1909

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LOST FORTUNES. Auckland Star, Volume XL, Issue 85, 10 April 1909

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