The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-11-11
Excited All Day Yestcrday...The
Borders of u Panic Touched.
A VERY DRAMATIC OCCURRENCE.
Jimmie Strutlers Falls Dead
During tho Height Of
tho Panic.
What Jay Gould Thiaks OF tho Situation.
A Tel rlblo Strain on the Market,
Followed by Rnlly-Aloncy In
Urgent DtmanG-The Sccre.
. tarJ Of The Treasury Sc.
reno Amid II All.

NEw YoEK, Nov. lO.-rhe excitement
and depression that attended the open.
ing dealings in the share list this morn.
Ing aurpaescd anything that has been
witnessed OH the Stock Exchange for q
long time past. The declining impetus
given the market last week, and which
evidently bad gained new strength In
the interim between the close OF satur.
days trading aud tho start OF today,
was reflected in fresh impulge that
quickly drove pricea in many instances
as far below the previous quotations Of
yeara, aud for n while 4 panicky feeling
ruled theAransactions.
The violent slrng OF share values di.
rectly at tho outset was largely due to
the nervous state OF apprehension that
exists on the foreign stock exchange
and Berlin at last seems TO have been
inoculated with that alarm that has
lately governed the speculative dealings
upon the London board.
The early loss in quotations for Ameri.
cana at London, together with the be.
lief which exists that the Bank OF Eng.
land viii again be compelled to raise its
rate OF discount, intensified the gloomy
feeling abroad, and the market has nat
nrally suffered from another outpouring
OF British holdings.
The foreigners sold heavily, and
among the stocks put out were st. Paul,
Louisville and Nashville, Atchison, Erie,
Lake Shore, New York Central, Read.
ing Union Pacific and Norfolk and
Western. preferred.
The signs Of renewed liquidation
were so apparent ct the commencement
that the bearish element put out short
stock with great freedom, although they
subsequently, covered to some extent on
the sharp break. Whatever may be the
special cause in the background which
gives the leading professional believers
in lower prices the unusual confidence
they have oil along exhibited, the fact
is patent that prices yield on every at
tack almost withouta struggle. Support,
except in few rare instances, is not
attended even to the properties that
stand at the head OF the railway systems
of tho country, and this has had much to
Io WIN tAiS cillahuHSs
The early surge OF depression was
marked by q great increase OF activity,
and during the first hour the sale OF list
ed stocks were ever 100000 shares. The
heaviest decline among the usually nc.
tive properties was 81 in Cleveland,
Cincinnati, Chicago 4 St. Louis common,
and ST in Western Union. The other
Losses right after the resumption OF busi-
ness ranged from TO 8 points. This
fall was soon succeeded by sharp rally.
This upward move, however, was only
OF short duration, and the current OF
speculation coon returned to the channel
OF deepond, and prices dropped again un.
til the sudden death on the floor Of the
Exchange OF Mr., James Struthers csused
an adjournment OF tho session to 1880
y. IN.
On the reassembling OF the Board
money became-very stringent and sud-
denly rose to fifty per cent, and after
temporary reaction TO forty worked up
to commission OF in addition to legal
interest.
Thece high rates OF interest impelled
further sales OF stock aud with few ex-
cepsions the lowest prices OF the day
were made. Rumors OF m unsettling
character were circulated, and they nc
CELEBRATED the downward course OF values.
In the money furry loans were re-
ported ns high as three-fourths and in
terest, but these rates rather were ex-
ceptonal, and around . p. IN. the quota
ton was down to Isl per cent per annum.