West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1886-12-23
.SEYIEW.
mot AFFECTED by
he STOCK SCARE.
dter Feeling But caution Nee.
essary. How Young Worm.
ser Lost $50. 10000 ina
the Recent Panic.

The past has been a weak OF unusual ex.
'citemen'. The shlrp decline in the stool;
market was foreshadowed by the recent
unhealthy advance In securities that do not
secure, and in some OF these the fall was from
SO TO 81 per share. But fifteen other stocks
lost over sl0 per share and the average price
OF active stocks. good and bad, fell IS 30 per
share from December 70 the lowest point on
wednesday last, knocking the froth off the
market oae broker called IT, n that case
thsre usrs good deal OF froth. Some rs.
covsry has since occurel, but Il is vet too
sron TO deter mine whether the bottom has
10 on reached. IL is surprising AMI crsditable
That thus far only one failure i'm A. Ex change
has resulted from such fall.
Money was art.fi sially locked up beyond
doeot and the decline thus increased. The
Dlssse rose from to s pee cent. on Saturday
psr cent. as the lowest and 1S6 per cent
pc highest on Wednes lay. This difficulty
been met by shipments from many int.
points, Canadian banks sending SO COO
?, by the arrival Of 81, 400, 600 on Thursd,y
from France, aud the shipments OF s2 600 OJO
Nr0en London aud by the Treasurys offer In
'prephy <0,OOO,OOO Interest. The advances in
rate by the Bldk OF England is meant 10
check the overh)w of gold, but the supply
now in sighJ here and the shrinkage i'm speo
ulatire demands should prevent any strln,
EcRcr In money for comm srclal or in iustrial
hieeC's IL Europe does not unload stocks.
so far the Wall street excitement has no
effect on general business Other speculative
markets were neglected., and the sales were
tar below previous records. OIL and grain
hrcpPed on Wednesday, but recovered; coffee
broke at Havre. and has not recovered: cot
ton yielded shade, bus hog products nd,
'vanced. The Thomas Company. which
largely controls iroa prices, fixes - dollars
as it, prize Tor No. l iron for 1857. AMI has
sold ~ p~r csnt more in 1886 than in auy
Other yes.I and engaged III 900 tons already
iaS next year. Important failures a. several
points show iniividual rather than general
oyer-trading. Dry gools are less active, but
the trade is not unhealthy. Exchanges ont
side New York still show that the volume of
business at the north is very large, though
some depression exists in parts Of the south
Railroads have agreed TO advance east-bouni
rates cents December %. and have large
sarnings already.
NECESSITY FOR CAUTION
But while Wall street acroo1ticI do not
vet affect general budnuss continued de.
fpression might in two ways. Future TO sell
securities might chec'S realroa1 building and
iron mixing. Return OF the large body of
American stocks held abroad would cause
heavy loss of gold and severe pressure The
weatherwise will watch for signs in these
quarters Thus far Elropo sells gold and
buys stocks The Interstate Cjm nsrce bill
IS thought dangerous By invsJtors, and its
progress may cIu'e Unloading OF securities.
The issue of silver certificates increases, two
million m ,re having bssn pat out last week.
while the Treasures took in sI,5D,0O0 more
gold.
Risks in stocks by individuals all over the
country are likely to increase the number OF
commercial failures. alrea ly unusually large
for the season. The situation, therefore.
while not now disturbing, justiiss caution
The business failures occurring throughout
she couatry during the last seven days nu n
Der for the United States 26), and for Cin-
ala %, a total OF 2SS gatnss 27t last week
and 243 the week previous. The casualties
IN the Middle, Western, Southern and Pa
side States are above the average in Canada.
10 New York city ffte,n failures are re.
ported, only two of which are of conse-
11eDca.