Jasper County Democrat, Volume 4, Number 6, Rensselaer, Jasper County, 18 May 1901 — MORGAN STAYS A PANIC. [ARTICLE]

MORGAN STAYS A PANIC.

Save* London from Threatened Corner In Northern Pacific. J. Pierpont Morgan, backed by Baron Rothschild, Sir Ernest Cassel and tlmlr powerful financial connections, averted a wholesale crash on the London Stock Exchange Monday. The famous New Yorker, studying the metropolitan market from his retreat at Aix-les-Bains, and foreseeing that only extraordinary action could prevent a slump in London like that which devastated the New York market,.wired his London house to use all its influence to tide over the danger. The situation threatened general disaster. J. Pierpont Morgan went to London with all possible haste, arriving in the nick of time. The Stock Exchange committee, contrary to all precedent, was Induced to suspend buying in Northern Pacific stock until further notice, thus smashing all schemes for a corner and restoring the market's equanimity.