Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1874-04-22
NEW YORK. April II

al NSNCU-f OTSCf 9VvbtureWs
NEW YORK. April II.
This has been an cNenttul day in
Wall street. Ii opened with the fall
IRE of Capron 4 Merriam and the {.
C.. Il |. {. Pool. and WAS followed by
even'> which preeipitatcd the panic ON
the stock Exchange. The failures
above noticed were followed by vari-
ou> rumor> all of which tended II
disturb confidence and un>ett.e mat
tiers generally.
There WIS Il report that a railroad
and steamship war was likely To result
from inability Of the Pacific Mail.
Panama and Union Pacific Companies
TO agree upon come alnicahle freight
arrangement: and that the Central Pa
elite. WAS about communicating an
agreement with an English company
To put on an opposition line of >tcaii-
cr> between san Francisco. Japan and
china. All of these facts and rnnlor>
caused an enormous pressure of sales
on the street. Exchange and prices
declined from | Ia 10, per cent. &C.
4 l.. &. leading the downward Owe
mcnt. At one time there wa>a rally
If Z to-. per cent. hut III the "lo>c
the market was heavy and lower
again. Money advanced from 1 per
cent. currency to per cent. gold. and
there We're onle rlInlor> thai
several banks were in trouble.
The heavy decline i'll stocks disturb
cd the margins of the weaker class of
SPECTATORS. and large sales for their
account helped To depre>s matters.
Ever since the Septcn her panic. Ca
prom AMI Merriam nave been carrying
large amounts of {. {. X l.. T.. stated
A. high a. 2t.on shares. For a day tr
two back rumor> have been in ~circula-
ton to the effect that about 10000 of
these shares have been hyPothecated
nj the Grrnian-\m"rican Bank, and
that in consequence of change of man
avnment i'll said bank the loan had
been called. and that Capron X Ner-
Ram were not able 10 respond. In
der the pressure OF heavy sales the
price declined from m, To ~. and in
three hours fromthe commencement of
business .ra,te shares changed hands.
Mr.. tapron aNS the misfortune was
brought about hv the trcacherv OF
hose he supposed 10 Ia his friends, for
whom he had agreed to carry large
amounts of stock for 80 and go days.
When the market began To break this
morning. the persons for whom lie was
CARRYING this stock Wen into the mar
ket without any notice To him and sold
every share they held. Most OF The
creditors are willing to make Il settle
mont on favorable terms. and the firm
expects 20 he on its feet >Oon again.
They are wei, known on the street and
much sympathy is expressed turthem.
Money was active later to-day and
rose I o 20 Ter cent. gold. Foreign In
change wa> advancing this afternoon
among the leading bankers. 10 / ST for
sc DAYS and 1 - ON demand: but t :.
tual business. Custom receipts, SFaa.-
900. cold closed at II. aft selling
at II. IL 10. ctrrying rates "a s..
The Assistant Treasurer has di>bur>cd
1000; clearing>, S~25.oCo.Wm: State
bonds. dull; Government. firm.
The Beard OF Aldermen this after
noon adopted a resolution calling oI
The MAYOR To cnnov the present Po-
lice commissioners tor incoinletCncN
and corruption a> shown in the street
cleaning Investigation.
y prisoner held al the Tomb> FOL
some days III suspicion OF being con.
nccted with the railroad ior-crir>. j.
believed II hp Louis J. Keeper. tie
broker who sold S:0.0on worth OF Bal
timore x Erie forged paper To Satn-
tivcs captured him on Tuesday last.
after a long chase. at Boston. Will,
c~anva>Sing under the naine of De
lanev. He is held on twenty indIct.
ments of conspiracy and forgery.