The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-11-11

afternoon were the largest ever see
over night and the losses q
fractional amounts were the exception
Drops OF to31 covered the whole active lis,
Inere was more of panicky feeling tha
was noticed at any time during the presen
decline. Stocks were thrown over in tn
most reckless manner, causing q mos
feverish and unsettled market, but wit
q steady decline in values. Even afte
the heavy opening further declines of / {,
per cent. were scored, the most prominen
movement being the decrease in Manhat.
tan which, after opening fell off per cent
and at 96 retired 4 per cent. further to 80 j,
the first few minutes after trading began
Other noticeable losses were per cent. il
the Western Union, ~ in the Pullman anG
almost all active stocks to materia
amounts. Trading reached enormous
hgures. but while the bottom seemed te
have dropped out of the market there came
more quiet feeling toward the end of the
hour, and some of the stocks actually re-.
covered portion of their early loss. The
market, however, remained in an extremely
feeverish and unsettled condition.
At noon money was tiaht-no offers and
but hve bids after II o'clock. Tho heavy
pressure was removed from the stock mar
ket to . eestain s1tsaA, aA,ahotatockacoatinnsd
70 come upon the market and prices con.
tinued to decline. Grants, viIlards and
New England's were the chief sufferers in
the decline. The market displayed no re-
Operative powers, and at noon business
was arrested by the death by apoplexy Of
James Strnthers, member on the top floor
OF the exchange. Struthers' dead BODY Law
on the hoor surrounded by brokers for
some time. Not word was spoken. but
the brokers with uncovered heads waited
for the officials to act. Business was at
once suspended. On account of the situa-
tlon they could not close the exchange. and
at 1880 business was resumed and the de-
cline was renewed with increasing rapiditv.
The rush to sell. after the recess caused
by the fatal incident, caused the loveat
prices of the day, but the exhaustion of the
selllnR orders and the appearance OF q num-
in the early dealings, but who turned and
bought heavily. caused q rally, and the
market was quiet, with prices at one and
TWO per cent. above the lowest of the dav.
vanderbilts have been firmer than the
list, and the Northwestern and Lake Shore
did q not sustain any material decline. At
sAAOAVy WOO IA O4kOAV u01UoUU CT one
fourth per cent. premium, in addition to
the legal interest now bid.
Pacific Mail bore the banner for weak |
ness, and with drop Of 2N it touched S5k. |
Inc downward movement then met with a |
check. and while there was less animation |
than usual when the pressure was removed. |
ne a whole list rallied materially. and before
The delivery hour the most active stocks |
we're brought up to within about one Der |
Vent. OF the opening figures. At 2:15 the |
market was dull and quiet at recovery,
Heavy declines OF late without failures
IN the street emphasize the fact that for q
onR time stocks have not BEEN held to any |
.xtent upon the street on brokers' margins.
! prominent speculator aptly characterized
he present furry as rich mans panic.
Ehe Gould people are credited TO-DAY with
icing large purchasers. Final losses are
'ery material. st. Paul is down 5X: Pa
ifc Mail and New England each 5: sugar.
~; Louisville d Nashville, ~; Erie, 81;
North American and Lackawanna each 3I:
Northern Pacific preferred, "a; Jersey
CENTRAL. IN; Rock Island, ~; Western
Union. ~; Missouri Pacific, ~; Atchison.
Is; Richmond h West Point, ~; Canada
outhern. 2: Reading. ~, and most Of the
celve list over per cent,
La the money furry loans were reported as
Ign a. n and interest, but these rates
'ere exceptional and about two 3. m. Che
uotations were down to 15 per cent. per
mum. k'ei