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Show WOi STREET ''BREAKS-:. HGfilN OVER RUflOR Of . IMPENDING EUES NEW YORK, March .19. Prices crumbled away during the early dealing in the stock market today. The precipitancy of the decline recalled the market of last week, and gave rise to renewed uneasiness. The greatest sufferers from the renewed pressure were the Hill and Harriman Harri-man stocks, St. Paul, Reading and Smelting. Union Pacific fell 7 without any sign of support. , Many active stocks fell between 2 and 3. Selling for foreign aeconnt was another element in the weakness, and fears were entertained that trouble was brewing in some of the foreign financial markets. It was believed also that there was selling out of accounts that were helped through the slump of last week on condition that opportunity should be taken of the first recovery in the market to reduce holdings. The break in the first hour was ascribed to a variety of causes, chief among them being a rumor that one or more failures are imminent. The excitement on the exchange today was quite as great as that of last Thursday. Considerable stock was , thrown upon the market at any price it might bring. Before noon it was announced that the clearing-house sheets had all gpne through. It was intimated in an official quarter that several members had been carried over, and that their affairs were being investigated by the stock ex. change committee. Among the alarming rumors was one affecting a banking-house which... is said to have suffered losses on loans of a doubtful character of collateral. Shortly after noon it was learned from an authoritative source that a private pri-vate settlement had been effected between at least two stock exchange firms and their creditors. It was alsa said that all danger of suspensions had. passed ' for tbedav. ' E. H. Harriman today denied a report that he intended to retire from active railroad work. HARRIMAN SAYS . REPORTED LOSS OF U. P. IS ALL A JOKE NEW YORK, March 19. E. H. Harriman Har-riman has, returned to this city from Virginia. . In reply to the question whether business of an urgent nature had called him back, he said: "No, I returned here because the muddy roads down in Virginia made en- oyment impossible. What do I think of he financial situation f I believe it is going to improve from now on. "The decline in the stock market the other day was due to a combination of circumstances a combination of men and circumstances. Some of these men have made a lot of money as a result, but I don't think it will do them much good in the end." Harriman laughed at the report that during the recent liquidation of stocks the Union Pacific' had disposed of large quantities of its stockholdings in railroad rail-road properties. He said there was no foundation whatever for the story. |