The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-05-22
MONEY MATTERS
THEY BECOME SATISFACTORILY
ADJUSTED, AND BUSINESS
MOVES BRIsKLY.
The Panic Leaves but Few
Wrecks, and Less Cause
for Apprehension.
Fatal Quarrel Between Two
Tennesseans Send Both
to Their Doom!
Items of General Interest Make
Up the Story of Another
Days DOings!
THE BROKEN BROKERS.


They HaveH All Disappeared, Giving
Place to Confidence and Stability.
NEW YORK, May II, 1890 p. NJ
The morning passed quietly. Conf
dence seems restored; there is now no
trace of excitement. Affairs are pro-
crossing in a fair way toward
speedy recovery of values. In stocks
the advance of this morning has been
well maintained, the movement up
ward being merely checked at inter
walls by the usual sales of small hold
ers to secure profits.
The bank statement is favorable,
showing an excess above the legal re-
quirements of over three million dol
lars.
1t is the opinion of the leading finan-
ciers that the situation is gradually
improving, and they feel certain there
is no danger of another backward
step.
There Is now no crowd at Russell
Sage's.
The loan committee is In session at
the clearing house.
The firm of Hatch q Burnham say
they have llquidated over 100000
indebtedness, and the firm will resume
soon. Golf q Randle's statement will
not be ready before next week. Har-
DIV 81 Sons statement will be ready
late to-day. The offices of Hatch &
Foote, Dimick & Co., Donnen Lawson
81 Son, Williams & Co.. Nelson, Rob-
inson 81 Co., and Fisk & Hatch are
very quiet, and the statements of all
are well under way. Grant & Ward
will not present their statement to-
day. Bloomer & Pinkney, merchants,
to-day assigned to Harrington Put
nam; preferences 1923 500.
100 p. Mo new features to share
in the speculation. Thus far the
market is strong, except for Louisville
& Nashville and Missouri Pacific,
which broke. Money, which opened
at per cent per annum, rose, and is
now 10 per cent per annum.
All accounts show that 81 100000 of
English money is being thrown in
American stock. During the last
thirty days inconceivably large pur-
chases have been made through brok-
ers. Capitalists have bought great
blocks of American stocks, and in
Vulnerable small investors have made
limited purchase. Other securities
somewhat depressed because so many
are anxious to re,ilize in order to
exchange for American stock.
NEW YORK, May 17.-There was a
marked change foT the better in the
temper of share speculations to-day.
Purchases for both investment and
speculation account were on large
scale. Money was also decidedly
easier, and lending went at a per
cent per diem. Early in the day
decline took place, of per cent per
annum. At the close, the banks were
much more liberal to borrowers.
Total issue of clearing house certifi-
Gates, $17,000,000 of which Sc, 100000
were taken by the banks during the
day. The feature of market was the
heavy buying for foreign accounts;
also the action of the United
States treasury in transferring S.
100000 legal tenders to
this point. The stock market opened
at an advance of 1 to 81 per cent
the latter on Central Pacific, which
rose to 461S About IL sharp an at
took was made on coal stocks, due to
report that the coal collation. had dis
rupted. Jersey Central broke five
per cent, Reading AZ and Lackawan-
ma 4. This unsettled the general list
and prices fell off q to per cent.
Western Union telegraph about this
time became strong, and rose 5611 and
this turned the market at once. In the
afternoon Louisville and Nashville
and the Missouri Pacific were weak,
the former selling down to 81, and the
latter to 791a. The transfer of legal
tenders to this city by the United
States treasurer was now announced,
and the money market showed ease,
and prices moved up once more. Spec
ulation then became buoyant, and
large blocks of stocks changed hands
all the way up. The comparison of
the active stocks with last nights
closing prices tells the story. Central
Pacific went per cent higher, Cana
da Southern & New York Central 2,
Northwest Philadelphia 4, Rock Is
land III, Delaware u Hudson 81 Den
yer l, Lake Shore s. Erie n, Missouri
Pacific &Oregon Transcontinental l Il,
New York Central 23s, Missouri Pa
cific, preferred, ~. Pacific Mail 81,
Western Union 319, and the
remainder of the active
list 1S to q, less Reading, however,
which went one per cent. lower. The
sales of stock this week were $685., 494.
Since January /, Sal 1907, 055, against
SCI. 100 the same time last year.
Government bonds were unusually
active this afternoon, and dealers re-
port a flood of orders from out of
town. Prominent institutions in the
city were buying, and the transac-
tions ran up in the millions. The as
were the special feature, and adj
vanced from 119 to 1913. The AIS
alsoifose sharply, selling up to lib and
ia.
New YORK, May 17.-Benner &
Pinckney, shipping merchants, as
signed. Preferences $4,000. Assignee
Weems. The liabilities of Donnell,
Lawson q Simpson are $3,000,OO0; the
assets exceed the liabilities 81 100000.
NEW YORK, May 17.-There was a
run on Brooklyn saving banks. Seney
conveyed his Brooklyn mansion to the
Metropolitan bank to-day for $175,O 900,
and other property for $4,000.
NEWARK, May 1.-THE run on the
Howard savings bank and the Dime
savings bank here continues. The
managers say they are ready to pay
dollar for dollar.
New YORK, May III. Steellman
merchant. assigned. Preferences,
$4,000.
LONDON, May 17.-There is a rush,
to buy American stocks. Bankers are |
cabling to New York offering to ship |
gold on security of government bonds. |
LONDON. May 1.-THE News says |
the American treasury which is the |
ultimate holder of the American re-
serve, is well supplied with cash. This |
ought to check the panic.
WASHINGTON, May 1.-THE treas
urer of the United States forwarded |
$8,OO0,O00 of legal tenders to assistant
United States treasurer at New York |
for use IN case of necessity.
SHILLING WILD RUMORs-
New YORK, May 17.-President T.
G. Platt, United States Express COM
pany, writes the stock exchange as
follow: Enquiries are being made at
this Office in regard to certain testi-
mOny printed in the morning papers,
and to set at rest completely all ru-
mors, now state, neither as presi-
dent, or personally, directly or indi-
rectly. have ever had any tranac-
tions of any kind or description with
the firm of Grant & Ward. or with
Mr.. +. Ward. The United States
Express company, in its regular
course of business, had on deposit in
the Marine National Bank sum of
$4,000 when the bank closed, and /
am sure it win result in no loss to the
company.