Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-13

NEW YORK Sun: 1t is not likely that the
disaster we are witnessing will spread beyond
the arena of the Stock Exchange.
FH11ApEIPHIA North american: The
world of legitimate business by which we only
mean the world that adds to the available
wealth of the world by some victory over crude
nature. need not lose any sleep while the bulls
and bears rend each other.
NEW YORK Press: With all our home con-
ditiops favorable there should be no difficulty
in checking any panicky feeling that may have
manifested itself during the past three days, in
restoring confidence and in gradually bringing
the market back to solid basis.
WALL STREET Daily Investor: The use of
certificates instead of currency worked admir-
ably and restored confidence in 1873, and it will
do SO now. 1t practically puts an end to the
danger of a continuance of the trouble that
caused Yesterdays three failures on the Stock
Exchange.
NEW YORK Evening Post: 1t is idle to at
tempt to forecast the present financial disturb
ance abroad, but it is easy to see that our own
present trouble has come from the other side,
where tight money has led to the throwing
over of American securities in an almost un-
precedented manner.
NEW YORK Herald: In issuing these ce
tlficates the associated banks as whole simply
lend money to individual banks at per cent on
the deposit of ample collateral. They do not
pretend to assist inherently unsound con-
cern, but to help those that are sound but can
not for the moment raise the actual cash they
need.
NEW YORK Herald: This monetary strin-
gency IS due to two causes-first, the exigencies
of London, brought about by over-speculation
in almost every part eff the world in general,
but in the Argentine Republic in particular;
secondly, to the almost unprecedented activity
of trade in This country, which has drawn funds
away from the Eastern centers.
PHILADELPHIA Press: BY acting together
the New York banks prevent the fall of any
one of their number. They secure the same
swift expansion of credits which is gained
under like stress and strain in London by the
suspension of Peels banking act. They render
it certain that no solvent firm or bank will be
forced to bankruptcy by sudden and unex-
pected inability to realize on its assets.
WALL STREET Daily NeaoS: We know of no
better advice to give our readers in the present
grave emergency than to take it easy" Ii
YOU have some stocks concerning which you
have grave doubts of its value, sell 1t out and
get as much money back as possible. II after
careful examination OF a property, you are
convinced the stock or bonds are worth more
than the market price, buy what you can pay
for and put the securities away.
New York Comme ciaI Advertiser: Again
and again, it has been pointed out by conserva-
tive observers, both in London and America.
that English speculation was approaching the
danger line. The speculation craze, which con-
fines itself to no one class. was more widespread
than any movement of the kind which has been
witnessed in the last decade. There seemed to
be no limit to the capacity of the English peo-
pie for absorbing the shares OF new corpora
tions.
NEW YORK Journal of Commerce: The deal
ings of day and morrow between the 'shorts"
and longs is play to the world outsider the
hawkings of credits and the liquidations of the
Street is pigmy drama, in which values ap-
pear to fash and flare and flicker, but they are
not values and are merely pictures. The real
values are existing things. They are ever
present. They are imbedded IN the earth.
They stand confronting the vision of millions
They cannot be moved Their end can only
coincide with that of the humanity from whose
conception they received their birth.