The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-11-12
TRA1f EVERYTHING.
The General List N at the Open
ing in Sympathy With
London.
Northern Pacific, Preferred and
Common, We're Among the
Heaviest Declines.
Money ON Call 1se Per Cent-several FAIL
ures Occur-The Clearing House
to the Rescue.

NEW YORK, Nov. I1.-There was larger
attendance Of brokers ON the floor Of the
exchange this morning than for years.
Every stock on the list had a crowd of
brokers trying to trade. When the market
opened the scene was one Of confusion and
excitement. Cables reporting an advance
OF to per cont. in London, were received
before the opening, and caused the brokers
TO take the bull side, and when DISPOSE
tion to buy was shown all routed. The
largest crowd was in the st. Paul corner.
which at first was offered at 48. and then
sold at 4711s, 25S per cent. above yesterdays
close. The heavy unexpected selling By
London, however, drove the prices down to
45N. The general list followed and for a
few moments the weakness Of yesterday
was evinced, but the heavy buying soon
began to come in. and on active business
an upward movement was resumed. Sugar
opened at 5211 ON the appointments Of II. q.
Havemeyer, 8. g. White and Gen. Slocum
- receivers and moved up to 81:
then reacted to IS. but soon
more was selling at 81. North
American was the weak point in the market.
1t opened at 271S and in six minutes de-
Ginning to 2115, and then slowly advancing
to "a. Willard stocks seemed to bear the
brunt OF the early attack. Northern Pacific
preferred showed loss of 3, and Western
Union 2. Low prices brought in more buy-
ing, however. and the force that opened
the market up began again to show its
influence and sharp rally took place. The
strongest on the list was Union Pacific,
which failed togo below the opening figures.
and with the rally advanced to 4S, against
A at the opening. The best of the list gen.
orally regained their early losses and in al
most everything but Wizards fractional
advances were scored. The market at II
O'Clock was still very unsettled. After the
Of the failure of G. M.
Whitney and Becker. Howell & Co., in the
North American, the market rallied on the
receipt of private cablee rams announcing
that E3OOO,OOO in gold was on it's way to
London from the continent and that monoy
was easier in that centre. Vanderbilt
were heavy buyers in Union Pacific. |
At two p. m. there was panic among the
holders of Willard stocks, and prices for
North American and Northern Pacific COL
|apsed. One broker sold 1900 shares Of
North American, and &c, 600 shares were sold
= 0sS> ~AOA>0Aos oou0AAA8 q O0C1lu0 OF 01Q0e |
per cent. Northern Pacific preferred had
already declined 12H per cent. since OPEN
ng, most of it since noon. The crowds in
Willard stock were enormous. The general
ist, which was at the highest point durino
he forenoon, some one to ~ per cent. bet
;er than last nights prices, felt the influ-
,nce OF heavy pressure upon Villards and
n most cases about all the Improvement
vas lost in some specialties like the Louis
lille, New Albany q Chicago, but Northern
'aclfic preferred. Edison general eleotrio
light and some others scored declines from
i've to twenty per cent. |,
The improved feeling in the last hour was
nown IN another upward movement in the
ist, and the close was firm, active, leaving
most OF the stocks at materially better fic- I.
lres than those of last evening, Wheelino
nd Lake Erie are the only stocks in The
Usually active list which show any materiaI
osses for the day outside of Villsrds. conn
non being down 1s6 and preferred 3ner
ent. North American, however, is 81 per
ent. lower. Northern Pacific preferred /
lss, and common 6H. On the other hand, !
aRar rehnerles is 81 higher, Louisville 4
!ashyll!e ~, Erie 2. Union Pacific "a, st. !
,aul las, and others fractional amounts.
MS is remarkable in view of the financial !
roubles announced during the day, to- !
ether with the fact that money was held !
cry tightly throughout the day, reaching :
ne-half per cent. per diem and legal inter- :
st on call. There were no offerings of 1
ands at any time during the day, and the
.st loan was made at the highest figure.
hich was 1856. :