WORLD OF FINANCE
PICTURESQUE FIGURE DEAD,
STARTED AS FARM LABOURER.
EFFECT ON NEW YORK MARKET. (By Electric Telegraph.—Copyright.) Received August 16, 9.50 a.m. NEW YORK, Aug. 15. The death has occurred at New York of Mr Elbert H. Gary, chairman of the United States Steel Corporation, aged 81 years. Mr Gary’s death has removed one of the most picturesque figures from the American world of finance. He had been ill a long time, but details as to his condition were kept from the public owing to anxiety as to the effect of the news on the market. The announcement of his death caused little disturbance, however, and an upward trend in prices followed the news.
Mr. Gary started life as a farm labourer in Illinois. Afterwards he became a lawyer, then a Judge and later a financier.
The upward trend in the market prices, following the passing of the financier, is declared by observers to be a healthy indication regarding the condition of the present financial structure.
There are also many indications that plans were laid by financial interests to support the market systematically, thus preventing a break.—A. and N.Z. cable.
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Bibliographic details
Manawatu Standard, Volume XLVII, Issue 221, 16 August 1927, Page 7
Word Count
191WORLD OF FINANCE Manawatu Standard, Volume XLVII, Issue 221, 16 August 1927, Page 7
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