New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-11-21
cloth. All can saw is. that am not negotiating to
sell share OF New-York Central stock"
ANOTHER HEAVY FALL IN STOCKS.
THE DECLINE OF WEDNESDAY FOLLOWED BY FUR
TIER DFPREssION-sCENEs IN THE EXCHANGE.


THE DECLINE OF WEDNESDAY FOLLOWED BY FUR
TIER DEPREssION-sCENEs IN THE EXCHANGE.
The. excitement in stocks was continued yes
terday on the Stock Exchange, and the
market during the early hours OF the
day was in critical condition. Before
midday the excitement had become almost
panic. The floor of the Exchange was the scene
of the widest tumult At the opening prices
were irregular and lower. and the whole temper Oh
the market feverish. The anxiety to sell STOCKS
especially those which had advanced beyond ther
legitimate value. became more clearly marked than
the previous day. The opening prices were the
highest touched during he day and the decline In
the first two hours of business was rapid ana
great. Shortly after noon there was partial
recovery which, however, was temporary. and this
was followed by a second decline, and At the very
close by sharp rally. The market closed with
feeling of greater confidence, and it was generally
believed yesterday that the decline had been
chccke ! for the present.
Generally the investment shares yesterday were
steady in price, and the decline greatest III
merely speculative stocks. The fall was greater
than that of the day before. The shrink
age III values within the last few days
has reached many millions of dollars. The reaction
is regarded by many conservative operators
as healthy and beneficial to the general
market Stocks now held, it Is said,
in strong hands. The fancy" stocks and
small Spectators have both received blow
frGm which they will not soon recover. The
advance in the soundcst stocks, based upon
the increased earnings Of the railroad
companies and uDon the general I'M
provcmcnt in business. has carried with 1T stocks
which have had no reel increase in value. The re-
cen, d, cline has not greatly disturbed the really
sound Investment stocks which it is thought by
rany persona Will reach higher prices than they
lave yet touched.
The transactions reported yesterday on the Stock
Exchange were nearly 100000 shares. The actual
business exceeded this amount probably by many
thousand shares. The transactions in Erie
alone we're over 10000 shares of which
more than one-half were sold in the
first two hours of business This stock opened
at - and sold rapidly down to 39ll, the lowest
point reached during the day. Chicago. Milwaukee
and St. Paul opened at 77is and sold down to 1919.
Pacific Mail dropped from 33li, the OPEN
ing price, 70 2Gi2, and closed at 29li. Chicago
and Northwest fell from 1913 to 65l2; Chicago,
81. Paul and Minneapolis from 90 to 40. Hannibal
and ST. Joseph from 37li to 81. Michigan Central
fell from 90 to 81. closing at 03l2, New-iork Cen
trail from 131 TO 129l4, and Lake Shore from
1878 to 99li. Kansas Pacific tumbled from
80 to s., and Wabash from J57s to $685. while
indianapolis. Cincinnati and Lafayette fell from
II to s. and Columbus, Chicago and Indiana Cen
trail from 22l2 to II. Manhattan Elevated fell from
G5ls 10 81 l., Mobile and Ohio from 81 TO 20, Mis-
sour. Kansas and Texas from 1872 TO 26li, and
Northern Pacific from 1924 to IS ONO and MlSsis-
sipp from 81 ls the opening price, dropped to 20li
and ST. Louis and Iron Mountain from 90 to 45l2
Western Union Telegraph reccdcd from JOG TO
1882, but recovered to 1919. The coal stocks
suffered heavy fall-Deaware, Lackawanna and
Western from S7ls to S1le. Delaware and Hudson
from SO to 76le. New-JeTsey Central from s33i 20
77al and Philadelphia and Reading from ~ to G5al
The greater part OF the decline occurred IN
the early part of the days business. In
tho afternoon prices moved slowly TO
aud fro within narrow limits, and at the
close of business portion Of the decline recov
cred. The neiGhborhood of the Exchange was filled
with rumors and within the room all was seeming
disorder The floor which is filed usually
with numerous small knots Of men, was
occupied with few large group which
swaycd hither and thther under the
excitement. The Erie group especially con-
spicuous. There were no failures reported. When
the chairman raped to order there was expect
ant hush, which gave way to shouts of derision
when notice of copartncrship or the sale of 100
shares of stock 10 settle dispute was announced.
After business hours the members of the Tx
change gathered in groups earnestly discussing the
prospects for to-day. 1t was generally believed
that the crisis had been passed without disaster,
and that substantial securities would show an i'm
proved tone.