The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1890-11-13
The Financial Situation Very
Materially Improved.
RISE IN MOST OF THE STOCKS.
Jay Gould Said to Have Secured Con.
troll of the Union Pacific.
He Does Not Deny 1t and the Report
Appears to Have Foundation--A Run
ON the North River Bank Causes Tenn
porary Suspension.

NEW YORK. Nov. 1.-THE stock market today
show, mater ally b tier ZEE lax. DO b in the
street and outside. and was h- most gratifying
confd ncs displayed that not only wss the
worst now over. bat that the improvement
would be gu ck and sharp. The action OF the
Clearinghouse committee In coming to the re-
ief OF banks in difficulty W Q the m ans OF re.
storing the confidence OF mary. while the i'm
provem.nt in the situation abroad was also .
powerful factor to that end. Not only were ac..
tive stocks much hirher Ill day but active spe-
cialeies which yesterday could not fnd buyers
st any price today were taken At constantly adj
vancinc figures aud the heavy stump IN these
shares Was in great measur made up.
The liquidation In llards Is now believed to
have marked the cuimination of Efforts to force
comp etc liquidation In the street, - tho-e
stocks had the bear force applied for much
LONGER time than any other gronp of stocks on
the list The impression ID that now the whole
situation has been changed for the better. and
the Improvement In the condition Of affairs
will be followed by higher prices all along the
line. There r. to be expected considerable SELL
ing OF Northern Pacific securities and some
others to liquidate loans. as was witnessed to-
day. but the market now shows no pressure on
stocks, and the offerings of the past few days
have undoubtedly been taken by strong parties.
The unfavorable factors today were continued
sales under the rule. both for the account OF the
suspended firm Of Decker. Howell & Co., and
for the account OF two other brokers whose sus-.
pension was announced dnrin the Day. Ther-'
were st:ll rulnors OF further trouhl % in 6nan-
cial circles. and the North River bank went
into the hands OF the examiner late in th, day.
though the TACT was not ma i- known until
alter the close of business Foreigners were
heavy buyers all day long. and the transactions
for foreign account were 30 large that sus-
picion that late sales for London were for short
account was openly expressed. The loaning
rat = for stocks hive been very high. and In.
qury has been very urgent. which would 60
to give color to the suspicion.
The port that Gould had acquired control Of
the Union Pacific was again used for
all it was worth, but the stock
showed no response to the story
North American sold heavily, and although
taken freely, failed to advance the remainder OF
he list and was especially sluggish in compar-
ison with Northern Pacific Transactions in f.
however, were on an enormous scale. and az.
fregated about one-quarter of the titsl business
done in al securities. The general list was very
ev-rish, - was to be expected. under the cir
cumstances, but there was an almost contin-
nous advance in prices from opening to close.
Northern Pacific preferred 10 up Z per cent.
common ~; Wheeling and Like Erie pre-
fsrrsd 4. common lx. St Paul SsS. Burlington 4
Quincy 3iz sugar and C.C.,C & ST. Louis ID, Ua-
Pacific sss. Atchison ~, Rock Island ~
Missouri Pacific 2z4. New York Central ~
Western Union ~. aud others small amounts.
Governments were weak and dull for the