Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1886-12-16
YESTERDAY m new YORK
Intense Exeltement en-
wall street.
ExtrnsFdlaary Decline IN siOsks-Hsavy
Lsusss ana Ons FailuEs-IntsFest-
Ing Railroad RspsFt-TAs
o. z. an. LeasA


A TeFRtble DaV - wall Street
NKw YoRx, Dec 1b.-Ths scsne as ths
opsaing Of the ssoek ExehaBRs this
morning waa one 0f the wil3eat ever
witnessed there. For several moments
The entiFe hooE vac crowded with knots
Of brokers. BaFzinR from one side 10 an
other. ell seemin b bent 81 sailing
stocks PFieas dropped With saoh
rspidity - 70 demorAlize bEokera Who
had buyina ordars. and little heed Waa
paid 10 fractions in making sales. The
groaiest crowd vas in Reading. which
closed Last night e. 69k, spened 81
minutes % S7H Riehnond q West
Point cioasd lasl niRht at 40, opensd at
3S. and within q few inmates vas sell
iHg 81 -. Hooking Valley. which elsssd
at S5%, opened at "a, aud deelined 90
~. Western Union closed last night
as IN. opsned at 70. and sold down 10
$50. Loadon bnyinQ orders were oabled
over for heavy blocks ef stocks, and
helped 20 sustain Graaeeg and IFank
line securities. Il b understood that
the movement b the result Of . big con
binstiOu against she bulls Who en-
gineered the late large advance through
| cut she list. Trust eompaniea eontrelied
by friends Of the bears are said TO have
started ths break b. ealiing In al leans
on Reading.
HooH HxPOnr.
Mousy en- eAll aas light 81 l2 per cent.
The markss. aftsr II o'clock. renewed
The break Of the previous h0ar, and those
stocks walsh had besn strongest we're
IN turn attacked. and salliuR vas Of the
nature Of q panic, declines ranging ap
20 ten per cent. in the active Ii &, the
mest conspiooous being Nsw England,
91<; Reaaina, si{; OmahA, s; Laakawan-
ma, 4sI, New York Central, 4; Canada
Bouthern, 81, and others smaller
amounts. There was q slight rally TO-
yards noon, bet at this time she mar
ket ia very weak. LAMAR a Co 3 fail
uge has just bsen announced on ths
Stock ExchanQe.
Paeiao Sc, i24s<; Central Pasifie, a;
BuRiington, IS; Denver q Rio Grande,
83; Northern Pacific, IS; Northwestern,
lI11S; New York CeLtral. ITO; Oregon
Railway a Navigation, lc01S; franseon-
tinentAl 80; Pacific Mail. Is; Panama.
50; Rock Island, 1241f; ". LJnis 4 San
Francisco. ~; Texas PaciAe, 1884;
Union Pacific, sos; Wells Fargo Ex
pres. l27; Western Uaion, 68x.
Sales 81 the Stock Exchange durinQ |
the hrst hour were $4,000 shares, and |
70 noon go coo shares. The market is |
touching the lowest points in months |
Some stocks dropped and per cent
10 the last few minutes. All brokers |
have orders 70 sell without limit. Heavy |
lessss by bnlIs have been In Reading, |
New England, Hooking v slley and Rich /
raoe.A earNasnnh Afnah EwakmAwm ,~.aw.
beRs Of the fra ct LAMAR q Co. have
hean mambeFs Of the board since 1869,
and it Nas sue Of the most prominent |
In the street. Ooe Of the hrm said IL /
be had known something, they would |
have suspended and made private cot.
tlement on ell their STOCK Exchange /
contracts. Gould q Oammack, brokers,
have been buying stocks at the decline,
and ths market begins TO show Q some
what better tone.
AFfKzNooN On THz KxcHANaK.
1;30 p. m.-TheFe are Wild rumors
adoat regarding banks, bat they can be
traced to no Foundation. A representa-.
tive Of the Associated Press has iasi
visited several Of the prominent bank
ing institutions, including the American
Exchange, Fourth National, and Bank /
Va 4AANAANNg NAA4 AA1 ANN4 aHHAABI eAhA
there is no trouble IN any Of the asSocia-
tiop banks. President Cole, OF the
American EXCHANGE National Bank,
vas strong 10 bis dennneiati0n Of the
FamoF monee.e, and said thsra ia nOth-
ipg in this whole thing bat she loud talk
Of Wall street bears A few small bFok-
ers' hFms have been caugAt on the wrong
side Of the market, bat have made pFi-
watts settlements. and no further suspen-
siOka are anticipated. At this writing
the market is at ita lowest, she ginQ q
decline Of 8 10 10 points all along the
line. Money has advanced 70 50 per
cent. A prominent broker says the
break In prices this forenoon is she re-
suit Of The very conservative policy
adopted by the banks for the past week /
or n re, In regard 90 loans. They have
been changing six and seven PER cent
on good stocks, and from 80 10 GER cent /
on speoialties; also that brokers, being
unwilling 10 carry stock at these figures,
called ON hOldeFs for nsors marRins
This brouRht out large selling orders.
and a. pFiecs fell, mors stock eame cot,
resulting today in almost . panic. Ths
present breaking. therefore, may be
credited 10 light money, and not 20
any inherent weakness in the STOCK
market itself. The reserve being down
to snoh . lew figure e e4,000,0co, vaa
another unfavorable feature Of The sit-
uAtiOn.
2p. m.-Ths scsne on the nOoF Of the
Exchange at this hoaF, while somewhat
animated. has no appearAnee of panic,
although 2.l5, when al deliveries OF
stock havs 70 Be aade, is fas. approach
ing. AessEs. Kuhn, Loeb 4 Co. have
.ulawaG nhfwrvNane - 90 w.SIffrs.. l
dollaFs Rold fr0m London, and tRls-
grams have ordered Eve milliOa francs
from the Paris Exchange. Tha market
has come down 20 the shipping point.
10 u claimed In eeEtaia oiroles here thai
the alleged disaatEuua entct Of the
Int F-State CemmeFoe bill, In tts present
shape a. reported 70 tbs Hoose, has hsd
oonst6erabie ineoonos IN creating the
preaeas depression
2.l5 .. m.-Tbe stock mAsket since u
o'clock has shown mach lesB activity,
although tEAnsaGtiena would be Oo0-
sidsred extremely heavy on any otheg
day. Prices are much better, and re-
eeTeEiss ranging 1p 70 2 per cent. we're
made oy D. m.. bat later the decline
vas again resumed and The lowest "a
ares ysl attained were reached. Tne
most eouepicuoaa movement was N
Manhattan, which Was weak when the
remainder Of tbs lisa Was 6rul, and ita
6ecliAa from noon figures wAs 81 per
cent Tha FemaindeR again shoWed
sore improse@ent tswaEd 2. and a 2:lS
The mArSet sss very aetivs and irrega-
lar, sat generally nrm-
rs D. n.-Sevsral b1ytne oFders ap-
pear % have bee1 given 10 The Stock
ExchanRe, and there is an impression
that The sailing n ovement has passed
its elimAx- 6harts are begin1inG %
eaVeF. and houses with EsFopean oon-
nectisns are aid 10 Be baJing This
viii help 10 steady the market and Il
gill probably close armeE. Delivery
boar has Ro1s by without any fresh
fAilarea. which b REGARDED - 40 exeal
lsna indiaaaiun-
So m-Messy has today besa Boaned
et N per esnt. inteFeat per diem, which
= eqsAl 70 so pr osnA psE AMMAN.