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Partly Cloudy Today;
Fair Tomorrow
Full Report, Page 17
929.-32
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Associated Press
PRICE 3 CENTS.
Louis F. Butler Dies
After Rapid Decline, of
Illness Long Endured
Market Near
Late President
Of Travelers
Third Chief
Panic During
Insurance Co.
Of Travelers
Selling Wave
58 Years Old
Avalanche of Stock Sales
Career of One of Most Re-
Sweeps Wall Street
markable Men of His
Causing Severe Declines
Generation in Hartford
Within An Hour
Closed At 5 P. M. Wed-
on
nesday
Three Billions In
Values Wiped Out
October 8th/Last
Day In His Office
Break Swiftest in Modern
Exchange History, But
Life Story of Noted Insur-
nt
Prices Not Disastrously
ance President Amazing
Low Bankers Say
Record of Intellectual
mes
New York, Oct. -(AP.) - Wall
Triumph Over Handi-
Street was thrown into the nearest
caps
m a
approximation of a stock market
LOUIS F. BUTLER.
uis-
panic experienced in years during the
last hour of trading on the New York
Louis Fatio Butler, president of the
Dead, Many
three Travelers insurance companies
Stock: Exchange today.
A new and wholly unexpected val-
and one of the most remarkable men
01 his generation in Hartford, died
anche of selling swept over the mar-
ville,
ket, carrying scores of stocks, down
from $10 to $96 a share, and wiping
Missing In
weanesday at 5 p. m., a. his
home, 242 Fern Street, Wes: Hart-
elop-
out more than $3,000,000,000 in paper
ford. at the age of 58 years. His
e of
values in the brief interval of about
Lake Storm
death was the result of a chronic
erial
stomach disorder frol. which he has
an hour.
Stock price averages and indices in-
long been a sufferer. October 8 he
e or
the
dicated that never before in modern
left his office for the last time and
was
financial history had quoted values
Proverty Damage Along
since has been under the constant
to-
disappeared so swiftly. Bankers point-
Shore Estimated At Mil-
care of several doctors, including
of
ed out, however, that in view of the
noted specialists from New York, and
amazing and unprecedented rise in
lions-Dozens of Towns
a corps of nurses. Mr. Butler's
to
stock prices in the past year and a
and Cities Flooded
daughter, Miss Margaret I. Butler,
oke
half. this break could by no means be
and his sons, James, Richard and
ille
regarded as reducing prices to disas-
William were with their father
him
trously low levels.
Chicago, Oct. 23.-(AP.)-At least
throughout his final illness.
in-
Swiftness Demoralizing.
two persons were dead. two others
Funeral arrangements will be an-
the
were believed drowned and the safety
nounced today.
The thoroughly demoralizing aspect
Mr. Butler S business achievements
of the collapse was its swiftness. The
of dozers of others on ships some-
market opened rather dull, and drift-
were an amazing triumph of intellect
where in the lakes was in doubt as
ed along, with several important
and indomitable will powc. over life-
er-
the Great Lakes region's worst storm
o-
stocks recording temporary gains, un-
long physical handleaps of severe na-
of the year cut a chill path eastward
d-
til midafternoon. when sharp "bear"
ture. Upon graduation from the
tonight, leaving millions of dollars in
drive was launched against the auto-
local high school in 1889 he entered
a
property loss behind.
motive equipment and radio stocks.
the employ of the Travelers and, un-
be
The ore carrier "William Pilkey'
several of which were sent down $10
aided by influence or inheritance,
at-
was missing in Lake Superior and
or more to new low levels for the
was thought to have been lost: the
rose steadily, by mastery C the de-
ed,
steamer "Maplecourt" was aground
tails of underwriting and executive
year.
val
Traders and investors alike were in
on Magnetic Reef in Lake Huron:
management, to the presidency which
the
a highly nervous state of mind, owing
and 13 persons, including a woman.
he has held since November 8. 1915.
on-
to the severe decline in prices during
were taken from the freighter "N. J.
Mr. Butler had a prodigious memory
ore
the past fortnight. and as soon as
Nisson." grounded off Point Pelee in
a rare capacity for concentration,
to
the market showed signs of going
Lake Erie,
and rigidly centered his interests upon
into a further slump, they rushed to
The car ferry "Milwaukee" was
his business, his family. and the ex-
the
get rid of their stocks for what they
missing in Lake Michigan: an un-
tensive library which he had accum-
the
would bring.
identified barge was aground in Lake
ulated in the pursuit of learning. H.
Ticker Far Behind.
Ontario off Leamington. Ont., and
was an omnivorous student, a master
om
Quotations on the ticker tape fell'
the barge "Lake Frugality' was
of many subjects, and his life outside
Mr.
hall an hour and more behind the
grounded in Lake Superior off Point
his office was spent with his immedi-
in
trading, and as word reached com-
au Sable but the crew was able to
ate family and his books.
m.
mission house board rooms that-stocks
leave her safely and reported to
Remarkable Personality
up
dollars
below
Coast
late
today
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"ocrText": "Courant\nPartly Cloudy Today;\nFair Tomorrow\nFull Report, Page 17\n929.-32\nPAGES\nMember of the\nAssociated Press\nPRICE 3 CENTS.\nLouis F. Butler Dies\nAfter Rapid Decline, of\nIllness Long Endured\nMarket Near\nLate President\nOf Travelers\nThird Chief\nPanic During\nInsurance Co.\nOf Travelers\nSelling Wave\n58 Years Old\nAvalanche of Stock Sales\nCareer of One of Most Re-\nSweeps Wall Street\nmarkable Men of His\nCausing Severe Declines\nGeneration in Hartford\nWithin An Hour\nClosed At 5 P. M. Wed-\non\nnesday\nThree Billions In\nValues Wiped Out\nOctober 8th/Last\nDay In His Office\nBreak Swiftest in Modern\nExchange History, But\nLife Story of Noted Insur-\nnt\nPrices Not Disastrously\nance President Amazing\nLow Bankers Say\nRecord of Intellectual\nmes\nNew York, Oct. -(AP.) - Wall\nTriumph Over Handi-\nStreet was thrown into the nearest\ncaps\nm a\napproximation of a stock market\nLOUIS F. BUTLER.\nuis-\npanic experienced in years during the\nlast hour of trading on the New York\nLouis Fatio Butler, president of the\nDead, Many\nthree Travelers insurance companies\nStock: Exchange today.\nA new and wholly unexpected val-\nand one of the most remarkable men\n01 his generation in Hartford, died\nanche of selling swept over the mar-\nville,\nket, carrying scores of stocks, down\nfrom $10 to $96 a share, and wiping\nMissing In\nweanesday at 5 p. m., a. his\nhome, 242 Fern Street, Wes: Hart-\nelop-\nout more than $3,000,000,000 in paper\nford. at the age of 58 years. His\ne of\nvalues in the brief interval of about\nLake Storm\ndeath was the result of a chronic\nerial\nstomach disorder frol. which he has\nan hour.\nStock price averages and indices in-\nlong been a sufferer. October 8 he\ne or\nthe\ndicated that never before in modern\nleft his office for the last time and\nwas\nfinancial history had quoted values\nProverty Damage Along\nsince has been under the constant\nto-\ndisappeared so swiftly. Bankers point-\nShore Estimated At Mil-\ncare of several doctors, including\nof\ned out, however, that in view of the\nnoted specialists from New York, and\namazing and unprecedented rise in\nlions-Dozens of Towns\na corps of nurses. Mr. Butler's\nto\nstock prices in the past year and a\nand Cities Flooded\ndaughter, Miss Margaret I. Butler,\noke\nhalf. this break could by no means be\nand his sons, James, Richard and\nille\nregarded as reducing prices to disas-\nWilliam were with their father\nhim\ntrously low levels.\nChicago, Oct. 23.-(AP.)-At least\nthroughout his final illness.\nin-\nSwiftness Demoralizing.\ntwo persons were dead. two others\nFuneral arrangements will be an-\nthe\nwere believed drowned and the safety\nnounced today.\nThe thoroughly demoralizing aspect\nMr. Butler S business achievements\nof the collapse was its swiftness. The\nof dozers of others on ships some-\nmarket opened rather dull, and drift-\nwere an amazing triumph of intellect\nwhere in the lakes was in doubt as\ned along, with several important\nand indomitable will powc. over life-\ner-\nthe Great Lakes region's worst storm\no-\nstocks recording temporary gains, un-\nlong physical handleaps of severe na-\nof the year cut a chill path eastward\nd-\ntil midafternoon. when sharp \"bear\"\nture. Upon graduation from the\ntonight, leaving millions of dollars in\ndrive was launched against the auto-\nlocal high school in 1889 he entered\na\nproperty loss behind.\nmotive equipment and radio stocks.\nthe employ of the Travelers and, un-\nbe\nThe ore carrier \"William Pilkey'\nseveral of which were sent down $10\naided by influence or inheritance,\nat-\nwas missing in Lake Superior and\nor more to new low levels for the\nwas thought to have been lost: the\nrose steadily, by mastery C the de-\ned,\nsteamer \"Maplecourt\" was aground\ntails of underwriting and executive\nyear.\nval\nTraders and investors alike were in\non Magnetic Reef in Lake Huron:\nmanagement, to the presidency which\nthe\na highly nervous state of mind, owing\nand 13 persons, including a woman.\nhe has held since November 8. 1915.\non-\nto the severe decline in prices during\nwere taken from the freighter \"N. J.\nMr. Butler had a prodigious memory\nore\nthe past fortnight. and as soon as\nNisson.\" grounded off Point Pelee in\na rare capacity for concentration,\nto\nthe market showed signs of going\nLake Erie,\nand rigidly centered his interests upon\ninto a further slump, they rushed to\nThe car ferry \"Milwaukee\" was\nhis business, his family. and the ex-\nthe\nget rid of their stocks for what they\nmissing in Lake Michigan: an un-\ntensive library which he had accum-\nthe\nwould bring.\nidentified barge was aground in Lake\nulated in the pursuit of learning. H.\nTicker Far Behind.\nOntario off Leamington. Ont., and\nwas an omnivorous student, a master\nom\nQuotations on the ticker tape fell'\nthe barge \"Lake Frugality' was\nof many subjects, and his life outside\nMr.\nhall an hour and more behind the\ngrounded in Lake Superior off Point\nhis office was spent with his immedi-\nin\ntrading, and as word reached com-\nau Sable but the crew was able to\nate family and his books.\nm.\nmission house board rooms that-stocks\nleave her safely and reported to\nRemarkable Personality\nup\ndollars\nbelow\nCoast\nlate\ntoday"
}