Telegram-herald., 1890-11-13

Esse pseFls r1skiaz sksut ibs
sEreeGs kssasea sanasws sas s1B-
rss tssn ca sny Rigss slEos shst e
Blsek kxi1sE ne Eslexrsek - seS
ecfs sar1azs4 a. kare r. sAs sas4
ko4ss a19 messengers wsss razhinx ee-
t~ssa tAsa asa tks hg1te3 ef
Eoss every E4o-zsus ia r4sllas
g reacstts fsT aiz freu TIE
aensy csatsrs e the West a.
shsss hsHds Nsx fesk Was ee9n psllea
to sesk relief TIE resals - seea
shae thst Nss Hork's arassls Ners nQs
fraisless. Ter chicago. 81 Louie SzH
Fr4retsca. Dsnssss Lo4issllis 4nS
even the So4thsrn cities AZ
respo 5e1 nptiy aaeh eennibut.
ing 70 the re2sn PIioE q Wall
strset spec al4tioa from absolute ruln.
The greatest cause of Nsl streets
crisis. TIE independent action - ths
West in transferring is basiRsss frem
New Nork % Chicago, slso ssssa IL
from utter and complete tegraslon.
ID Is admitted that ths West bas saYec
Nali street
There was feeling ot expectancy
~hsa the Stoek EEchxKge OPsaed. The
fioOg MAS allied with bulls ana tears sna
tie excllement eas Intense. IAe open
ing feeling vas better than when busi-
ness closed TUESDAY night This
was in part due 70 he fsct that
there were plenty Of buying orders
from London. The market became very
active shortly after 10 O'Clock and when
q few sales Of Northern Pacific were
made under the rule at 81, an advance
OF points, the excitement subsided
Ia degree. Tho second .Ale Of the
stock, Willard one, sold under the rule
for Redmond & Co.. who assigned
Tuesday. brought 90, an advance
OF points over Tuesdays closing.
North American, another Willard stock.
opened al l5's and sold up 10 ID bus
these sales wero cancelled. The real
opening CT taese stocks was a. lsH,
against Tuesday nights closing price
of IS As things progressed the whole
market exhibited a better feeling.
The news that Mr. Geuld had OBJ
tanned possession of the Union Pacific
was generally credited and added some
thing 10 the strength OF the market
Money rates were still high. although
the benefcent effects of the issue of
the clearing house certificates was sp-
parent In the greater amount Of con.
fidence shown by money lender.
The failure 0. Joseph c. Walcott
banker and broker. so Pine street, was
announced on the Stock Exchange.
The failure OF B. X. True. stock broker
at IS Broad street. was also announced.
Liabilities and assets unknown.
Al 2 p. m, the market was at its best
and the general list was at the highest
of the day. The advance on Tuesday
nights prices ranged from l 70 per cent
the latter for Northern Pacific preferred.
The total sales to that hour amounted to
over 300, 600 shares, Of which $50, eco were
Willard spscialtios. Msney ruled at Is
per diem and interest; the lowest quo
tation of the day was 30 per cent
SCARCITY or GOLD IN ENGLAND.
NEW YORK, Nov IL. The Evening
Post, in its financial article. says:
The most important fact in l,e present SIT
uatioa is that it is Esgland (not The United
Sta:es) that has spread out too much and has
got into tho position al ~ embarrassed spccu-
lGtor. The vast enterprises in the most re-
mote countries of the world which she
has endeavored 10 carry out and keep up their
credit on a gold basis On some countries
whore the only metallic circulating medium was
silver as the banks in suenos Ayres, the two
transcontincntsl lines Of railroad from thero
20 Chili tho lines 70 the Argentine
Republic, the diamond mines. railroad projects
and city-improTemsnts schemes In South Africa,
Australia Egypt and Spain. and the recently
established Canadian Pacific steamsh snip line 10
China and Japaa-ali these have got England
too much spread out, ana. while the final out
come Of these great projects IS likely 70 show
great profits for the present England is en-
barTsssea
1T is On English, and rot an American.
panic, and the chiet point 10 the scarcity OF
gold in England In this point the Unitcd
States is N much stronger position tkan En-
gland, or II fact. any cocnlry il the wcrld ex-
copt France While the gel1 n the Baak Of In
gland only amounts 20 about 500 GO 00l the
Treasury ei the United states hol1s ts5o co..
oC0, being the largest accunu,ssicn Of gold In
the world cnd ia the present aspect of the
enaqcisl relations Of the TWO countries We shsli
be able 70 keep 10. The hiyh rates OF interest
here operate ia tse same way that She raising
az the rate oi discount BY the Bank OF
England is expected 20 operate II EnFlan6-st
stops speculation and keeps tho geld here. II
u we're not that PEOPLE here who coatrcl gold
are p3ntc-s stricken We might easily spare a
large Gmeuntof gold 10 relieve EuFiaud's mecca
/ siI!es. and 50 rCllevs the whole situation"