The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-11-13
In Wall Street.

NEW YORK, Nov. 12.-The stock market TO-
day showed d materially better feeling both in
The street and outside, and there was the most
gratifying confidence displayed that not only
was the worst now over but that the improve
ment would be quick and sharp. The action of
uhe clearing house committee in coming to the
relief OF banks in difficulty was the means
OF restoring: the confidence of many while the
Improvement in the situation was also a power
lul FACTOR to that end Not only were active
stocks much higher all day long but inactive
specialties which yesterday could not lind
buyers at any price to-day we're taken at con-
Stantly advancing figures, and the heavy slump
IN these shares was in great meas
ure made up. The liquidation in Wizards
Is now oelleyedt to have m2rked The elimination
OF efforts TO force complete iquidations in the
street as those stocks has resisted the force
applied for much longer time than any other
group of stocks on the list. The impression is
that now the whole situation has been changed
Tor the letter, and the improvement in the con
dtion OF affairs will be followed by higher prices
all along the line. There is to be expected CON
siderable selling OF Northern Pacific securities
ana some others to EquIdate loans as was wit
messed to-day, but the market now shows 20
pressure OF stocks, and the offerings of the past
few days have undoubtedly been taken by strong
parties.
The unfavorable feature to-day was the con-
t1nued sales under the rule both for account of
the suspended firm Of Decker Howell g. Co
and two other brokers' whose suspension was
announced during the day. There were still
rufnorS OF further troubles in financial circles
ana the North River bank went into the hands
OF an examiner late IL the day, though the fact
was not made known until after the close of
business. Foreigners were heavy buyers all day
long and transactions for the foreign accounts
we've so large that the susncion that
the late sales for London were
for short accounts was openly eynressed
Looming rates for stock have been very high
and inquiry has been very urgent which wonld
go to give color to the suspicion
Inc report that Gould had acquired control of
the Union Pacific again was used for ali il was
worth but the stock showed no response to the
story. North American sold heavily and ali
though taken freely, failed TO advance with the
remainder of the list and was specially sluggish
IA comparison with Northern Pacific Transa-
tions IN 1t, however were on an enormous scale
ana aggregated about one quarter of the total
business done IN all securities. The general
LSt was very feVeriSh as was Burlington under
the circumstances, but there was an almost
CONTINUOUS advance in prices from the opening
TO the close. Pe
WALL STREET, lo:O5 a. m.-The stock market
opened excited but higher for the general list
interest seems cente-ed in Wizards and on ire
menoouS sales Northern Pacific and North
american advanced points over last nights
closing
lob a: m.-The general list shows gains over
last nlgni OF TO 3 points. The market con
tlnues active and excited but the upward ten
dency remains. Northern Pacific. common
SO14 preferred, SO; North American is
-. When the gong sounded for opening business
inns morning on the stock exchange there was
a yell and rush and pandemonilm reipned
The galleries were crowded TO their utmost
capacity by class which only visits the street |
IN times OF great excitement. Richly attired
laoles pushed forward for sight of the strug-
cling brokers, and the most casual observer
would have seen it was a time of unwonted
excitement. The market opened stronger than
might have been expected and there was evil
IDENTIFY hopeful view of the situation desnite
The fact that early London adVices Were not very
favorable. Trading so far, has been enormous.
especially in Wizards and ST. Paul Several
thousand shares have been sold under the rule
C0mnlHf1nn haO1ln fnrdor rhoe.o
all In VlllaraS and st. Paul, and are believed
TO be for the account of Decker, Howell & Co.
me general market has declined slightly from
the opening, with per cent. drop in Bnrling-
ton. Wizards. however are strong II looks
now as II the conditions were favorable TO d :
cided Improvement
The clearing house subcommittee appointed
10 issue certhcateS to aid banks, VIII meet and
issue certlhcates 10 such as require them.
however, there will be no public announcement
as 10 what banks are in trouble.
In view of the fact that London is regarded
as the main factor of the situation, it may be
important TO know that bullion is being ship
peu from many financial cent RS to that point.
aaIl million in silver bars will go forward to-
Jay on the steamship Saale Cable advices
stale mat Russia has sent 1900 600 francs in
soIa ana will send 100000 additional.
oa Eary BUSINESS urgent, resulting in further
gains OF y to l, in which Western Union Bur-
nhgton, Union Pacific and some specialties are
IIonsplcuous. Wizards, and especially Northern
= aclnc, are conspicuously active and strong,
,,1I Lon rising "a preferred 2. touching 20l.
Gnu % respectively. The general list, however
9 yleiaeo TO the pressure and the influence of
i niaer sales under the rule of Northern Pa
t enc North American, st. Paul and few others
,o, account OF Decker, Howell & Co. The down
ward movement was more pronounced toward
. sne close OF the hour and Burlington dropped
- Northwestern y, while Wizards lost all adj
vantage and North American retired l. Fluctu-
atlons among speclalties and low priced stocks
were extremely wide and irregular while the |
entire market was feverish in the extreme
throughout the hour. Later, Wizards again |
showed strength and the list followed the mar |
ket. At Ii it was very active and Arm tn strong
but generally at something under first prices. |
though better that those of last night.
II % a m Wizards continue strong now at the
tic, common, 20A; preferred GOA: North |
American. 20.
An Associated Press reporter interviewed