, 1873-10-15
ANOTHER STOCK PANIC.
Vanderbilts Day Of Judg-
ment.
Heavy Decline Of mtered
Stocks.
Great Landslide in Now York Central,
Lake Shore, Western Union,
Northwestern, and
~ lpio4 9 l. Raeific. +
k'|''s2
The Whole List Sympathizes.
Several New Failures Re-
ported.
Belief in New York that Vanderbilt
Has "Lost His Grip"
Scenes Last Night at the Flltr
Avenue Hotel.
Opinions Of Burstcd Brokers on
the Situation.
Daniel Drew Thinks that the Hercan'
tile Community Will Not
Be Much Affected.
tn A1so Thinks TINT Vanderbilt Is ShakY
Daniel Drew Thinks that the Hercan.
tile Community Will Not
Be Muoh Affected.
He Also Thinks that Vanderbilt Is Shaky.
NEW YORK.
A DI8TnES3IE4 DAY,

Special Dispateh to The Chicago 1ft6ane.
NEw YonK, Oct. 14.-A financial crisis equal
In its disastrous consequences to stocks to that
ono which began on Sept. IS, and practically
ended eleven days later on the opening Of tho
Stock Exchange, aecmod to-day to bo impending
ovor Wall Rtrcot. Notwithstanding that there Is
little excitement, tho depression exceeded that
OF any day Bi,co tho rooponing Of the Exchange.
Tho decline which has existed with slight roac-
ttonB since tho resumption Of business. has caus-
Cd great dependency, and further weakened
many who wore already tottcring under burdens
which far exceeded their strength. With tho
beginning Of business On the Stock Exchange
ther0 WAS
DISPOSITION TO SELL 8TooK
both for short account, and to raalzo upon &C.
tual holdings. The advance to per cant Of the
Bank OF England ratio OF discount tended to IT'LL
sottle matters, md in addition to this samo dis
couraging r1lmoEs Of impending disasaurs, ind
OF deop-seated troubles In some prominent
foreign banking houses. The steady downward
drift of the prices Of stocks, demora1izod con-
aerystivo holders and m ardent desire to un-
load waB tho natural consequence. For years
past
THE NAa1E or COMMODORE VANDERBILT
has had such magic in it that it was only necca-
uary to mention it in connection with m undor-
taking to Insure tho immediate appreciation Of
such enterprise. In earlier years tho Com
modore's specu1atlonB were conservative
and 1udicious. Each successive cn-
terpriso passing under his control
had been made permanent success. uarlon.
Hudson, New York Central, had each pros
pered and borne its promoters good fruit. They
were taken aingly. and developed with timo and
attention. But with the death Of Horace F.
~ tmkfA 44i
been entered upon by Vanderbilt. 1t was woll
known that. perhaps with tho exception OF
Weatern. Union, Clarko was "long" Of Lake
Shore, Now York Central, Union pacidc, North
Upon claEke'a death, the Commodore, who was
already "long," Of vast quantities Of Western
Union, a tho recent clection for Of
tlcera Of that Company will prove, vas
Lake. Shore and other Clarke entorprIaes
in order to protect the interests Of tho Now York
Central from active and able rivals. As natural
result lie became overloaded, md. whom the late
crisis occurred, was unable to protect hiuaef, to
say nothing Of his frionds. His appeal to the
President and inability to refund loan of
81 ,780, 600 to tho Union Trust Company in order
to avert ita failure, and the course of tho stock
market ainco the rooponing Of the Exchange, all
suggested this. Eyor since ho became control
stock and made 1t practically 1ia standard OIL tho
Exchange. This continued proof Of weaknoBs
dishoartoned men who hae stood by him,
and whom Central began to full they refused
themselvos. Lake Shore, Harlem, and bis otllor
stocks woro pressed to sale and sacrificed. The
failure Of George Bird Grinnoli j. Co., was the
first STARTLING break In those that were known
yANDERD1LT uousEs.
Rumors OF oYory description circulated re-
gardinE othor brokers known to be identified
With his fortunes. Time alono Gnu toll whether
II, nj %ay]x i.AI
houses IN healthy condition, such asis uecea-
gary to ALLOW OF their continuance in businoaB.
On the opening of tho Exchange prices de-
clined In uapner
Western Union foil tie lowest, dropping from
5719 to 611, rallied to 81, dropped to 48j55, aud
closed at 48. Lake Shore roae from 64 to 66244,
Feeods t. 1esovorsa to o5 declined
to s991. Harlem went from 107 to 1o79l, and
oloned at LOG. Rock Island roao from 88 to
8s9, and dropped abruptly to sox,
where Il closed. Northwestern oponed st
oHss eosea P XII sSsi 1fe rosa rom s5
to 91h, and fell to 20A. Eric Toll from 10 10
449{; Union Paeiiio from ISL to l6>1; Milwau-
kee d st. Paul from 29A to 2s.
Prominent among those whose failure wns
rumorcd were a number OF Vanderbilt brokers'
but inquiry failed to confirm its truth up to 8
O'Clock.
TUE FAI1uREs OFFICIALLY ANNOUNCED
were those OF ". H. Whittemoro Il Co.. No. G3
Broadway; G. II. Pearca l. Co., Broad street !;
and Wise d Gross, No. "a Exchange place.
Theso were not regarded AZ very embarrassing
to the market, but they wero accompanied by ro-
ports OF extensive mercantile and banking fail
urcs. Those proved to bo William Hogo d Co.,
bankers, No. 10 Wall atrcet; Gillespie, Trow-
bridge i Co., tea importers, No.. lo1 Wator
| sugar aoalets, No. 0l Wall street. 1t was also
reported that 0sgood 4 Co., No. ~ broad stroet,
atid Boyd. Vincent i Co., No. 80 Droad street,
had failod, but this was without foundation. It
il generally beloved that tho
PRIMARY CAUSE OF THE pANloKY FEELING
that prevailed on the Exchange waa the inability
Of Commodore Vanderbilt to sustain tho pricea
OF hia particular st0okH. It ia also reported
that ho was 10 presaed for money TINT Ao woud
not be able to pay tho Now York Central dtyl-
dond, which Ia due tomorrow. Inquiry regard.
ing this, Of tl,oso who wero 80 situated ~ to
bno a1ictfn5 IA f1,n }ho 1tiAa