The morning call., 1890-11-14
A MARKED CHANGE.
General Feeling Of Confidence Noticeable
In New York Financial Circles.


excitement in early trading and afteTward
subsidized into its ordinary appearance, with
only the usual fluctuations. The general
feeling in tie street has undergone q
marked change for the better, and the opin-
ion of most of the habtues of the street is
that the object of an influential combination
of capitalists which forced the recent de-
cline has been accomplished, and with the
effecting of reforms in Railroad business now
proposed there will come general improve
ment in values. The late. reaction from the
low prices of Two days ago is regarded as
principally the effect Of covering shurts, TO-
gether with some buying by those who had
thrown their holdings over in the scare.
There were no further failures or bank sus-
pensions to disturb the even course of
events, but the bears demonstrated the fact
that they have not as yet gone into their
holes and are still very much alive. The
natural tendency Of prices to advance after
the late severe drop was checked, and while
fluctuations were on comparatively small
scale, they were in some cases very ma
teria though the final changes are in most
cases for fractional amounts only.
THE MARKET
The market opened excited and weak,
with North American rs lower at 16, and
on enormous sales it declined to g. rallied
to 13, and again reacted to II. The general
list showed on the opening a decline of y to
~
A decided weakness was developed toward
2 O'Clock. Sugar refinerieS became the leader
Vt tt the "a decline, dropping from 5s to 54A
ut COZ, Atchison H. and sold at 3Oh After
some hesitation the decline was resumed,
and Union Pacific scored loss of %. The
downward movement then acquired addi-
tional force and everything went off, the
market becoming again demOralizei, and be-
fore the delivery hour all the forenoon's ad-
vances were completely wiped out, with
fractions in addition. Northern Pacific pre-
ferred, subjected to special pressure, re-
turned to SIX.
The list is again lower, and sugar is down
3k, Northern Pacific preferred 2h, Pacific
Mail 1%, Louisville and Nashville 11s and
North American 7%, with only fractional
changes in the rest of the active stocks.
Governments are steady. Petroleum closed
weak, spot closing at 10, December 73A.
Money has been close, ranging from to
II per cent. The last loan was at 4
THE NORTH AMERICAN.
The following statement is authorized by
the company: The reports as to the cond-
tion of The North American Company are
unfounded ana extremely unjust. The
company has no outstanding call obliga-
tions. Its time loans are held by compare
lively few persons ana institutions of great
financial strength and are abundaEtly Sc
cured by colaterals, which, even ut The
panic prices during the past few days, could
have been sold for a sum sufficient to pay
all its Obligations and leav g large surplus
to the credit OF the company. The company
Las also large amount OF valuable assets
in Its treasury not pledged at all, and is and
always has been perfectly solvent. The
Directors were called together simply 10
satisfy them OF the sound condition of the
company and obtain their cooperation. The
company has made no assignment and in
tends to make none.
The Sun and World, in their last editions.
assert that despite the compapy's statement
this morning the North American Company
is wrecked. The world heads its article,
"Twenty-five.mllions gone" The Sun has,
"Villard's pet wreck"
THE SUSPENDED BANK.
The North River Bank did not open this
morning. The cashier stated that although
the bank officials felt sure the bank would
pull through all right it could not resume
business for several days. The Bank Ex-
aminer said statement of the banks af-
fairs would be ready at noon.
AT the clearinghouse it was learned
large contractor is debtor to the bank to the
extent of S50o,000. Six or seven other con-
tractors are also debtors to the bank for
large amounts. The cOllaterals for security
of these loans are said to be claims against
the city.
WILLARD STOCKS. 6
Wizards representative said t6 sun re-
porter this morning that they had not heard
from him, and did not expect to. He is in
Europe for pleasure and not On business,
and nothing he can do can affect this pres
ent difficulty. His stock is all paid for, and
the price cannot fall much lower. do not
know why they have picked it out, but the
bears seem to have selected it for attack.
The other stocks all seem to be gong up. l
cannot see Why there should be any idea
t,,tN I'd CHI ha N, ca6b hut
THE UNION PACIFIC.
NEW YORK, Nov. 13.-The Times this
morning, in an article on the financial situa-
tion, says, in substance, that MIR. Gould's
denial of the story printed in the Times
yesterday morning does not deny the truth
OF the assertions and points to the state
mpnts of Russell Sage and others to the fact
strength of it and bears out the facts in the
matter.
BosToN, Nov. 13.-Fred Ames says lie
knows nothing about the reported dissatis-
faction among the Union Pacific stockhold-
ers. He has not seen Gould for six months
and does not believe Gould ever said what
has been attributed to him.
THE LONDON MARKETS.
LONDON, Nov 13.-At o'clock this after
noon the prices on the Stock Exchange
opened firmer, but became weaker, COM
pared with yesterdays closing.
ot0ckS CLOSED Dettcr. New 0rk TOOK all
the stock thrown on the market, causing a
firm tendency.
The stress in stocks during the last few
DAYS was due to- the weakness of large
private bank. The firm is now amalgamated
with large London bank. There was a
sale of 275O, 600 worth Of consols yesterday
in connection with this transaction. Conf
dence now prevails and everything 10 on .
firm basis.
Newspaper Suspension and Renewal