New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-10-19
EFFECT UroY BUSINESS IN THIS CITY.

EFFECT UpON BUSINESS IN THIS CITY
GREAT EXCITEMENT Al IHE STOCK AND GOLD IN
CHANGrs-FoUB rAurErs CAUsED-InE EFFECT
Al THE PRODUCT EXCHANGE.
Wall Street WAS thrown into intense excite
mcnt yesterday morning. upon receipt of the warlikc
news from Europe and the eject OF the troubles between
Russia aud Turkey the European money markets.
Tho FIR, effect ~ the reports upon tine market here was
felt at the Gold Exchange where the scene has been
without parallel for years Gold closed on Wednesday
20 IOJr- and opened yesterday morning nc llOls. Ia
minute the price had gone 20 II, aud WITHIN three
minutes from the time the first sale was made II had
further advanced 10 ll3l Brokers Wild with excite
bid for almost any amount, without regard TO the
price. From the last mentioned figures II as
quickly fen back. however to lI4i3, aud at
1913 q. IN. the quotation was ma During
ala this time intense excitement and confusion
prevailed among The brokers. tAc bulls making STRENUOUS
efforts % keep mp and advance the prices, while the cN
crtlous Of Tho bcar their AZ muts 90 qucl The excite
mont. were no les, marked. The frantic shouts Of the
brokers were lyod until after u bad been dscoY-
cred that nu ample supply Of gold Ind been furnished
from outside operators. During the remainder Of the
day tie prc ranged from 11ls 10 lll'. closing &c
ma vituIitlc excitement during the afternoon but
the volume Of business transacted during the day Vas
very large.
ON the stock Exchange there was an advance OF d 10
is per cent m United states bonds. While stocks ~ all
kini. took an upward movement. the argument being
u..d that .r meant better business IN , country both
fu Tie railroads and FOR general trade special feature
wa, mad, of Delaware. IackaHauut aud Western and
Delaware and Hudson Canal stocks, The former ad'anc
ing from 1914 Ocforc the first call 90 sos, and finally
closing at - The latter stock opened ut Goi2, and
rapidly advanced To 81 D.. gain of - per cent During
the last hour the prco fell of rapidly the final sale
being made under the rc at 7i7s This was still 6s
per cent above the closing figures Of Wednesday.
Buying in under the rule" continued until near
the close Of business, The large advance In the stock OF
tho two companies mentioned was not attributed so
much o. the war from Europe as 70 an oAort on the
pant Of certain persons TO bull the market for these
stocks.
A. Of the results of the days operations, there
were four failures reported ut the stock and Gold TX
chanecs Hone, Nicholas 81 Coz 40 No Il Wlllnm-st'
gave notice during the day that they were unable 10
meet their engagements one oil the hiuh suDse'
aucitly stated to a TRmUSE reporter that their
liabilities were not very large and they hoped
10 be ablo pay their debts; they
were short he said, ~ coal stocks aud the advance was
80 great that they were unable 10 bear r ",' ~ We
.tated that they were active operators M ln' ' VI Wv
recent decline In these stocks The other failures were
krwuu of No. y Wdll-t, AID Henry Dhlrt' hol =" v
nm % Date IimTson, as was enormously i,P9t'u on
pension was caused entirely by inc Hl l, ~ 49, .,
of guld that bis liabilities wcfc Snal anu HC h"'l ~
be able III II hours The other TWO iau5eT
,go. tailed were also for small amounts, That OF MI
Dltcr being also caused 10y The sudden rise ~ god
Al the Produce Exchange me rnorS 81 rJ , .i,"
cned war In Europe caused considerable CNcIrW'hl'
which lasted thr0u bout the entire day ana ht'tu r1c
az the price- To an unusual degree Yesterday thc uc
uations n the price of grain NnIltd rom one /" nv
cents aboyc the prices Of last Saturday ha "l' Co
stJrrcd by the members very remarkable hllanc',
An example of the closing price NAV nc seen ~ tal W
No. spring wheat, winch brought -. iS s',
we're rrosuoudiuily large, 5JOOOO bushels q" EIll
bcug disposrd of which II stated II lar III auN'e u
any davis sales for the past slN month";. pno ~
| tnr teutcrs stated that the usual nulhutI VI
bushels sold daily varied from 10000 10 Io"'Ouu.
A drincr feeling was manifested III lH.s l'Ht
- t.. 'n,rL,t Corn was half cent better Than former
prices with duh market In proysi3ns th'lt Was no
suecial settlement The news rom ChcaE" le'c''1 -.
me EXCHANGE indicated a spccGlri'" hilihtI luc
morning opened very cxctcdb, with NO splug Nn'at
selling al from II to II -, mn lapluy
~ lGi, From this the prices nuctuittd
drclning TO ~ H. and cosn2 at ~ 10 Corn anu oas
were uuiet and steady with an advance OF ABOUT olo
cent