The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1879-11-21

The severitya of last nights gale. Several
vessels have been carried ashore. One
three mas ed schooner at anchor in Chesa
Deake bay, foundered; three persons re-
ported drowned.
The sudden severe cold snap is causing
some inconvenience TO boat men. On
Delaware and Hudson Canal ice formed
30 thiak last night. that ice breakers have
TO be used to keep open q free passage for
boats
THE STOCK EXCHANGE.
The greatest excitement prevailed on
the stock exchange this morning, and at
one time serious panic seemed iuevita
BILE The scene on the floor at the ex-
change was most tumultuous, and the rush
TO sell stocks was SO great that prlct
dropped and 4 per cen. tone ii Ii g. .iunti',
before half an hour OF business had been
over, Delaware and Hudson mad declin ed
20 per cent. and the remainder of the list
all the way between IA and per cent.
The men who are credited with his bear
movement are Jay Gould, Jas r. keene,
Russell Sage and Addison Commack.
aided by outside SPECTATORS, who rushed
in and let their stocks go at any price,
fearing lest a general panic would result
in wiping their margins out entirely. Many
failures were expected from this great
panic of yesterday, which appeared In
measure allayed during the afternoon, but
gathered extraordinary impetus this
morning from pressure of stocks held
and fall IN prices, but mp to the present
only one has been reported, Edward Liv-
ermore, 35 Broad street, suspended this
afternoon and notified the exchange of
his inability to meet his engagements.
a L IL bar
recovery of 10 per cent. IN Delaware d
Hudson, and the general list rallied to 6
per cent, but this was succeeded by
another attack shortly after midday, and
quotations again took a downward turn.
Declining tendency of the market was
greatly increased by extraordinary amounts
of stock held on stop orders by brokers
who were frantic with excitement 10
eodeavorlng to close out their customers
ventures. Such wild and exciting day
and night remind one of Black Friday.
Between two and three o'clock the de
preston continued. Fluctuations have
been wild and great jump OF two or three
per cent. have occurred without exciting
comment or surprise. Kansas Il Northern
common Topped down to 81 and Iron
Mountain to "a. and still no more failures
were announced.
Edward LiVermo:e, who suspended this
morning. has been a mem Der of the board
for many years. and his house has always
been regarded safe one II was eX-
planned at his office that the cause OF foil-
ure was due to com bination of circum-
stances likely at such time, namely: gen.
eral decline of 10 per cent. aHd inditfer.
ence on the part of customers to respond
with promptness on call, Livermore is a
gentleman of wealth but preferred to close
his DOORS rather than suffer greater loss
He regards bis suspension as only tempo
rary and will resume as soon as the Hurry
| is over. His representative was unable
TO give an estimate of his liabilities CT
assets, owing 20 the wild condition of the
market.
Coal stocks txere pressed for sale il
great confusion, Del, Lack and Hudson
| fell to II, Del, aud Hudson broke from Sc
to 563. but recovered to 66 IN. j Contra
fell to 70 and there was great collapse il
Erie speculation price fell to 35s preferred
81; granger stocks went down. Northwesi
S58; St Paul II; Southwestern list was
pressed for sale. Kansas and Texas. 27i
Han. and St. Joe 2S: Iron Mountain A 9
42a; Wabasn 52a; Wabash. ST. Louis q
Pacific "a There was a genera
decline in prices Of Vanderbilt
stocks. though they were wei
maintained. There vas another crash 10
| iancies-C. G. & [. G. l62; Ohio %
toward middle of day there was genera
streptbening of list, many buyers beiDa
attracted by relative cheapness of stocks
Ii was also reported in speculative circles
that the leading operators were buying
and that the brokers of the respective
pools were being supplied With orders
Decline 10 stock market created great CON
fusion in the smoney market, aud ther,
was a continual calling in of loans b.
money lenders, er a request for more mar
gin by banks and inancialf institutions
Confusion and dismay rules and there Is
sort Of unsafe feeling pervading all oper
ators.