The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-10-15
A Gloomy -Day-in New York.
The Monetary Situation Seriously
Disturbed Again.. Advance IN the
Bank OF England Rate.

Il
Bank OF England Rate.
NEW YoRK, Oct 14.-There has beeI
more orless excitement on Wall street TO
day, attended with great depression OF
Stock Exchange. This condition Of Of
fairs was brought about by an advance
on, the Bank OF Eugland rate, an addition
al banking stock and mercantile failures
and, difficulty I In procuring, money ID
large amounts on short collaterals. The
banks are extending little or no assistance
to brokers, while the foreign bankers are
calling loans on stocks and refusing 10
make anynew loans. Thus brokers gen.
orally have 10 oresort TO sales 10 procure
money In large amounts, and It was these
that forced sales, which dragged down
the market. To-day the bankers were
buyers OF exchange and gold, and rumor
says In obedience to some orders from
the other side, the natural result :ot all
the above matters, was o sharp ad.
vance In the gold premium, with q
leverish and more active market. Money
worked close at 1-16 to $40 per diem.
Qreenbacks were tirmer at tat premium.
Foreign Exchange was firmer in the morn.
ing, and the bankers advarced their rates
to l07a10S, but there was no business over
106ia107t, while at the close prime bills
could DO bought at 109ss1O7s. Custom
receipts $393000. Gold was active and
higher, advancing from 109f 10 1904,
closing at 109t The rates paid for car
rging were8, s, 1 SO and 2 per cent to fat.
For borrowing the final rates were per
cent Tor carrying. Clearings $31 900. 900.
The Assistant Treasurer disbursed $140,.
600. 5000 pounds Of foreign specie
were received at the Assay office to-day,
the total amount-to date being a92S 900.
Government bonds were firm and higher,
the advance in gold having impaired a
strong tone To the market.
Among the failures to-day were VIM.
Hoge & Co., Bankers; VIM. Whitmore &
Co., Wise d Co., and O. e. Pierce, stock
brokers; Gillespie, Trowbridge s. Co.,
Tea merchants, aud the sugar house OF
Burger, Hurlburt & Livingston. No fail.
ures reported among dry goods men.
At the stock exchange, Boyd, Vincent &
90. were sold out under rule, but have not
failed. This firm turned Lake Shore with
two parties who wanted them to sell 1t
out themselves, but they declined 10 vio-
late the injunction, and other parties sold
them out under rule. The difference
amounts to 500, 900, nearly all OF which is
and has been for some time past upon
deposit In the Trust Co. The railroad and
miscellaneous speculation was feyerish
and unsettled, owing TO the reasons al.
ready given. There was very heavy
pressure to sell at times during the day,
resulting in decline In prices Of to 0
per cent. At the close there was but a
slight recovery from the extreme depres-
sion. The greatest decline was in Wes-
tern Union, which broke from SIT to 5lt
rallied to "a, dropped TO 4St and closed
at 49. Lake Shore rose from Ga 10 GG4,
receded to 6St, recovered 10 65, declined
59t and lett off at 90. New York Gen
Gal fell off from S5t to S2t and
rallied near the close 10 s3e
These were the principal features, but a
sharp decline took place In some OF the |
other shares. The prices touched to-day
were In many cases lower than those
made at the time OF the panic, the invest.
ment shares shared in the general depres.
sion. The greatest decline having been
In Delaware. Lackawana d Western
which sold from $751; TO 81. There was
much excitement in the street regarding
the Vanderbilt stock, and all sorts Of ru-
mors are current touching his brokers and
Mr.. Drew. The fight made on the New
York, Central to-day was on the represen-
tstion OF parties that the dividend due |
tomorrow would not be paid, at q late
hour, however, 1t was stated that the div.
ldend would be paid promptly. The
stock market left off uneasy and feverish
with a feeling Of apprehension for the
morrow.