New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-11-12
NO PANIC IN WALL-ST.

ONLY THREE FAILURES AMONG BROKERS AN
EOUNCED-RUMORs OF THE EMBAHRAs'-
MENT OF EIGHT OTHERs-EFFECT OF THE
NEWS ON VARIOUS TRADES.
Wall-st looked upon the second Chicago"
of Boston much Of shower after ALL" and the
excitement and panic which anticipated by many
did not follow. Tie street nervous aud anxious,
but not frantic noisy, ana the principal ex-
changes were crowded TO excess. The gallery
Of the Stock Exchange was fuller with curious
spectators than tue floor with anxious
Spectators, and altogether the day was com.
paratiyely quiet to the general observer. Groups
gathered as usual. though in Ia ger numbers than
generally seen, various favorite corners, and
were quick and frequent; but it clear that Wa-st
did not fully appreciate the extent OF the disaster fnan
ciaIly, did not feel it, Many who had looked for
and predicted aud perhaps wished for
a panic, OminOUsly crOaked Of times to II
day two, but the general feeling OF alarm not Of
panic.
The fire at Boston the subject OF general discus
son yesterday. in all commercial and financial circles,
to the exclusion Of nearly everything else. There
much speculation 10 the manner In which it would
affect NcwYOrl and tie country at large In cir
ces il feared that the effect would be very disas
trous TO the interests Of the country, and might
precIpitate a panic With this idea in view the
large numbers OF stock operators FASTENED TO
the stock market with the object Of realizing
their securities. or. taking advantage OF the crisis,
went short Of stocks hoping TO make handsome profit
by the decline they foresaw. A general selling move
ment Immediately followed and stocks declined from
to % per below closing quotations Saturday.
amid intense excitement OF numerous fail
urcs The decline however. not as great as that
which followed the Chicago IRE and many disap
pointed at realizing only and per cent instead Of IS
and % a. al the former fire. Pacific Mail which closed
Saturday 9U declined TO 81 Rock Island closed az
lC9i declined to l0 Northwest from st TO "a; OHIO
f. ON i6t 10 4C5; Lake Shore from Oh to s3s NewYOrk
~, ID, from IN -
from J53 to 81 Wabash from 1T to 65i Western Union
from 7st 72 c. c. and Indiana Central 32t to % ami
Union Pacific from 800 to 3O4
The very general and heavy decline caused the failure
OF number of brokers who long OF stocks and en-
barrassed large number Of others whose names were
not officially reported TO the Exchange. Among those
who formally confessed their inability meet their OBJ
legations were g. V. White r. l. Kimball. and Pilot
Perry & Co. Rumor was busy with eight other names.
some of whom will probably be officially reported to-
day The depression caused by the decline aud attend
ant failures gave way to brighter feelings, md
there was sharp reaction ranging from 70 81 per emit
but later in the day there another but lighter DC
cline OF from to Il per cent.
Many OF the business houses Of note received special
dispatches from Boston in order that they might more
thoroughly understand the position OF affairs. Among
them jay Cooke Co.. who received the following
from their agent:
BosroS Nov tI-Lmits by STATE Washington
An. M n jr goods. lob nr and AMI shoe and
tia- houses DESTROYED. The loss building, ami merchandise Is
w. cd at hom si5oooO0o to sooeo~0 TIE Mount Vernon
Revere, Freeuans AL iiile sal
leather burned The other banks are doing business a.
usual
Conservative aud rejecting business men were 10th 10
believe he exciting umors aud dspatohes that arrived
in he ier hours Of the disaster but waited FOR the
l-sr.o uore Trustworthy Intelligence and then care
ii!l, considered the subject
n ny low place the amount az s75OOoOoo, and although
ins-,,,pce companies, OF course Wi suffer it hoped
ma conul ra vcy few Will be n Ced 60 suscul ], as
Nh. ts c.r. w.rh tho Chicago IRE II u deemed iot
~ haf fpe fItf auOHn OF insurance on tho burnt l
r' rs tl0nC n and OF this ainonnt probably not less
tlaa OCJg,J N0,OO00o0 will DO borne ~ BRUSH
col! -os. 49,, -, .
Ffn lo he heavy losers, Much consolatiou appears 30
ed from fact that the losses by tine hrr Un
Uk. thai ~ lrca 20 will fall upon the rch instead oi
the ..4r tulnerCnl men say thdtt lhe lnitlsti'lo
.soT .. etOn fire Oh the merchandise market hhS
t- enhance values IN ths cit from 10 ~ per cent
M re .or, has destroyed the stocks OF all the ea0ng
hoIs- Try goods clothing wool hats ana e.lS nootS
an. .as leather coach ana carriage tnfns SUNG n't9
ware Ion and steel paints and drugs, and wholesale
'i1 r and IA careful estimate makes the Taiuo OF goods
destroyed about 100000 They say tDht w uty 3ys
fLey wool, coach furnishing, ana crockery dealers
rut out were among the heaviest ~ the country whle
r, clothing trad0 OF Boston has always beeh sousW-
eed as larger than the combined assreso VI Any oIer
Theso dealers all held large stocks rs Uado had been
duh In Boston for the past MONTH irol tne same causes
which have from time ~ time mnuoneed Inc New-hQrk
rorkets This immense styucOn OF merchandise that
h ua now tho most mark able brings the OverstocA'
ctffs iffO fnfn
Already BOSTON men ARE hhts making selections and
.cooIlGlcGG.GEa lDr tuala aad rVoyO4 NaIsa uiI w