Los Angeles herald., 1890-11-12

about the most rapid and disastrous
drop of the present decline. The forces
of the bears were concentrated against
Northern Pacific, preferred, and that
stock before 2 p. m. had been forced off
over 10 per cent. reaching 55, against
663a, at noon. The rest of the market
sympathized to some extent, St. Paul
showing the most weakness, outside of
Willard. 1t dropped to 465a from 4S, and
all the active stocks losing probably as
much. There was fractional reaction
in .he general list toward l p. m., but
the steady drop in Northern Pacific pre-
terred, accompanied by rumors of
noted Willard house being in financial
difficulties, was such that the entire list
soon became demoralized, and the losses
from noon figures reached an average of
l to 4. There was perfect panic in
Wizards, and Northern Pacific, common,
lost 356 to 1734, while North American
dropped to 19A. The market showed
some strength toward the delivery hour,
and Northern Pacific preferred rose to
81 p, but at 2:15 the market was active
and weak, with most of the list at the
lowest prices of the day.
Moneys Wide Range.
Money during the day was tight,
ranging from 15 to 1856 per cent. The
last loan was at 1S6.
Bar silver was $1.021.
Stocks remained very active. In the
last hour heavy sales under the rule un-
doubtedly tended to demoralize some of
the specialties. North American touched
1874. Sugar, which had sold at SO,
dropped to 81. The pressure abated to-
,,1 <I,a oil Sow, l. -oI
erles took place, ST. Paul and Union Pa
cific being the most conspicuous. The
market closed active and firm at the
lowest prices of the day.
The general list, which was at its
highest point during the forenoon, some
to Az per cent. better than last nights
prices, felt the influence of the heavy
pressure upon Wizards, and in most
cases about all the improvement was
lost, while some specialties, like Louis
vile, New Albany and Chicago, Great
Northern, preferred, Edison General
Electric Light, and some others, scored
declines from to 20 per cent.
improvement at Close.
Improved feeling in the last hour was
shown in another upward movement in
the list, and close was firm and active,
leaving most stocks at materially better
figures than those last evening
Wheeling and Lake Erie stocks are
the only ones in the usually active list
which show any material losses for the
day, outside of Wizards, common being
down 13s and preferred 3per cent. North
American, however, is S7s per cent.
and common go. On the other hand,
cuOor ratinariac ara az hirhor. onio-
vile and Nashville, 2la Erie, 2; Union
Pacific, 17s; St. Paul, 13s, and the
others fractional amounts. This is re-
markable in view of the financial troubles
announced during the day, altogether
witt. the fact that money was held very
tightly throughout the day, reaching .
per cent. per diem and legal interest on
call, there being no offering OF funds at
any time during the day, and loan
being made at the highest figure, which
was 1856.
Governments steady.
| The Market Bulled at Boston.
RosToN, Nov. IA desperate but
successful effort was made upon the part
of the bulls to advance stocks this
morning, as fears were entertained that
| further decline would lead to an act
ual panic. Quotations opened booming
about 2 per cent higher than last night
as rule. A further slight improve
ment was made, but when there came
news of the failure of prominent Wall
street house, prices fell off. Trade
changed for the better again, and by II
prices were near those of opening. At
D. m. the market was firm.
At times excitement ran high, and the
crowds at the local boards were larger
than for years past. There was, how
ever, very little of the panicky feeling
manifested that prevailed yesterday.
Although prices generally fiuctuated
widely, the range was considerably
above yesterdays figures, and altogether
the feeling showed better and more
hopeful temper.