New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-13
IN IDLE DAY ROE TIE BROKERS'.
| BUSINESS PARALYzED BY THE STORM.
CoMMBNDABLR ACTION TAKEN BY TIE STOCK TX
CHAXGr-LIrTLE TRADING DONE.

BUSINESS PARALYHED BY The SlOhM.
coMMgNDABLR ACTION TAKEN BY TIE STOCK TX
| CHAXGE--IIrTLE TRADING DONE.
For tho first timo IN tho history Of the Stock Ex-
| change, business brought to stand-still by
| Storm II has suffered Isolation by interruption OF
Geographic service and has transacted good D'i-
pes, cvcn when deprived of orders from other cities
and from EUROPE and when fashioned values accord
Ing to It's Views. Yesterday many members OF the
board were unable to reach Wall-st. at ALL and In
spite OF great cxcrons they had to content Themselves
with visiting the uptown hotels and trying to send
word to their Offices They could get little satisfaction
from the stock and news tickers anywhere. for tn,
little Instruments had good excuse foi printing any
thing but inici glblo quot atiOns
In Wall Street affairs In some confusion There
were ft yscvcn brokers the floor nj The opening OF
tho Stock Exchange and Of this number forywo we're
from Brooklyn. With that force 1t was mpossiOo 10
do much business and there little 10 do, except 10
walt for reiDCrccmcnts, which never came IL was
not long before It was disco cred that only few
banks would bo ablo to afford the usual cclifcaOns'
and In tho Park II the slaie which lecps the accounts
OF largo part OF tho brokerage rms, the vaults coud
not DO opened because all tho officers who had tho
| coDlbini tlon to The lock, llyeI out OF t'wn.
MANY RUMOES SET AFLoAT.
All the banks and other financial institutions were
short handed, but tho business was 80 small mat mo
ow clerks wcro ab,o to handle It, Rumors wcro soon
set afloai moreover that only few banks had made
their exchanges the Clearing House and hints OF
trouble In consequence of this ENHANCEMENT were
whispered about the street. Tho effect of these in
lucnccs might have caused some disturbance. but tho
good sense Of no moro important brokerage hrins
that were represented tho moor avoided the possible
danger Bank officers In some caso5 sent leI'ess
10 their customers not receive deliver stocks in
order to avoid further complications II was n ht'o
after that tho following resolution Was uhahi'
Resolved, That Is the sense Of the members present
that all dealings. far % possible. be suSrcndcd ana
that deliveries go over until to-mokow, March 10.
BROKERS BRAVING THE STORM
quorum Of tho Governing Committee could NOT
be obalLcd to act on the resolution and although
trading was suspended l. 80 p M, tho Exchange
was not closed officially until
o'cIock. tine usual hour Alexander Hen
rlancs tho venerable vcc-chaman, brought down his
eavei with more than usual vgOr and then started to
walk homo with fcw friends Among others who
were present wer" tho TWO Dormser
brothers. j. Kirl,ner Charles a. Johnes, Loomis l..
White ". j. Wheeler, Grant b. schicy and W. III.
Duff of Moore Il schey; the board members Of
Charles Head & Co., Iiallsarcn & Co. and several
other firms Henry ". Poor. ueorgc d. Morrison and
George W. Ely. secretary of the stock Exchange.
.nna and western railroad was at his Office and
ut tho Snb-Trrasury ex-Judge Mctue, the new AS
sistant Treasurer. had come from Brooklyn. william
sherer cashier of the Office seemed not To pe disturbed
10y the storm and ho reported that abont half OF his
Snb TrnapHry was fortunately small There was
practically business over the counter ana The
morning mail was light The services Oct, or elcrGs
departments used In those that were deficient
and tho business OF tho DAY was ttahsdo'ed WITHOUT
friction or delay.
DIFFICULTIES At THE CLEARING HOUSE.
At the Clearing House considerable difficulty was
experienced in making the exchanges because several
members wcre late Ia reaching the Office OF the aSso-
citation The president of uptown bank person.
ally brought his exchanges, although he was obliged
TO walk the whole distance. The delay amounted
10 over an hour, but the clearances were made and
the differences settled without other difficulty Man,
ager william a. Camp absent on account OF
tbe storm. His recent Illness has left him too fral
10 face the storm of yesterday.
Al all the other downtown Exchanges the story
NJ the stock Exchange virtually repeated Tho
Consolidated stock and Petroleum Exchange Dragged
of larger attendance but esa ib SSSy was bog
carly number Of brokers at tho opening, ana they
were disposed to talk about the severity OF the
business As the day more bclated brokers
dropped into tho Exchange, and little after noon
and oil srings., president Charles G.. Wilson was
on hand and his koenost regret seemed to DO that
me TDsn On We Peters dan get 70 The Exchange
until 80 a. M, and the work imposed upon him
wasn't heavy Ills colleague Assistant secretary
lewis, beat him By a scratch, and was one OK ON, ihs
men who spent an hour hon , Sr SO 9 70
stump his way through snow and wilma.
DEALINGS At TIE CONSOLIDATED EXCHANGE
Tho markets at the Cosoiida'cd
Exchange reflected the terros Of tho storm In their
was every incentive for active trading under normal
conditions for one OF the wells which had encouraged
tho bears last week had been drilled deeper after the
close on Saturday and had made q good response.
II was reported yesterday morning. too, to DO liable
TO possibilities. The opening Transactions were
trivial but quotations Of 95 and "a cents were made on
1000 barrels against 06 Ia cents Saturday noon
when the Western market, however, found that Now
York crippled to be factor of support or de-
preston they seemed to be ndlsposed to radical opera
lions and the storm grow worse the telegraph ser
vice could not b. relied for important operations.
take chances Of The next day and prices rallied to near
tho figure OF saturday. Every one was glad when
tho formal hour Of closing came and then bcagn
tho wrestling with the universal question Of How
can get homc', In tho railway stock depart.
he stock Exchange hut some lively scapIng' trades
were made I'm few of the recently prominent stocks
A. the wind howled around the corners Of ths Pro
,uce Exchange and the and sloet were hurled
ANA" looked more desoiste than holiday for tho
,ters present mad little spirit OF frollc in them
vpsn the wheat pit opened only were on
That stamping ground Of bulls and bears and not many
,nore were I'm other parts Of tho rooms. The elevator
hnvs had light work TO do. for the alsences In the
,ioi Of heads OF firms clerks and messengers that
usually make sns pa 1s .hnn Irn .oDE up
msds np the height OF thu attendance later in tho
day Tho wires to Chicago were working In tho
morning, and some moderate trading was INDUCED In
,u. The other markets were almost totally neglected
The statistical forcs was badly depleted, and the
mcrcIaI reporters collecting figures and news had the
wol- said ons Of these newspaper boys this
Is the first time in my memory when Two had chance
~ A. the Cotton Exchange the market was OF tho
General nominal character, and only 100 members
landed by twenty one members. and Of them thirteen
came rom Brooklyn and jeercd at tho decacy OF tho
Sew.y Workers who couldn't turn up. Few familiar
iacrs we're seen al the Maritime Exchange for II carly
va spparenl that news would be chOkcd OFF BY the
storms control OF the wfrcs.