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Show Depression in Stocks Caused by Americans Getting In Tcd Deeply in English Enterprises. LONDON. June 11. Lord Bothschlld was Interviewed by an Associated Press representative today on the financial situation in America "It is ho good to look further than your nose in these matters," he said. The depreciation in stock values is not caused by European selling, for the very good reason that Europe has scarcely any American securities to sell. Yesterday's sales In London were almost al-most entirely on New York orders. Amsterdam Am-sterdam sold slightly, but not nearly as much as was attributed to that city by the dispatches, - When an American Ameri-can wants to sell he has got into the -y - ... habit of sending his order here and leaving it to the arbitrage houses. There la absolutely no feeling of ristrust in Europe over the financial conditions in America. Only .a fool would say that the financiers here are making what you call a dead set against American securities. What do I think of the future? Well, the best answer I can give is this," and Lord Rothschild handed over a stock ticket showing that he had Just purchased 600 shares of an American railway. "That, of course, ls only a drop In the bucket, but I may tell you that one of the wealthiest wealthi-est capitalists I know yesterday In- : vested 200.000 in American securities ! and he has put another 200,000 Into them again this morning. That sounds large, but it ls nothing compared with the selling orders which come from New York. At such period as this the transactions of even the large in- 1 vestors had a small effect on the market mar-ket in which speculators figure so largely." Lord Rothschild's explanation of the recent serious' shrinkage in values ls this: . "Speyers went into street railways. Yerkes came over here to electrophy ; the undergrounds Morgan bought British Brit-ish securities, ancr I am told Schwab went in largely for British industrials. They all thought that British or European Eu-ropean investors would take a larger share in these European enterprises than they did The result is that some of the largest capitalists in America have been obliged to realize on their securities on the other side in order to provide capital for their" .undertakings here. Under such circumstances, quotations quo-tations were bound to go down" |