Asheville daily citizen. [volume] (Asheville, N.C.) 1890-1900, 1890-11-12
TIE FINANCIAL SITUATION,
so REASON FHU SyVNSAsi.
NESS A tII..
Facts and Opinions TrIru wali
street TO.Dav - An Inter, Jew


usut.
Nrw NoRN, WALL STREET Nov. l2.-
l..h5 n, m.--Thc stockholders of H.
North American railroad company me
in the Mills huldug to-day aud tn
statement is authorized that the com
lany has but few creditors; that thcs,
are I'LL strong financially aud hav
agreed to see the company through, an,
| that the assets Ui IIc company ar,
wholly in tact.
| Tie sterling cxchang, market is yer,
'iull and prices nominal Bankers show
ittlc disposition to do business, OWN.
To high rates tor money. The bank O.
| North America appeared rs It rr,ditDr n
the clearing house to-day and the othliul,
state they are again IN gUuG Shape.
At l2.3O the suspension of the T. c
Walc"tt company was Hnnounccd on cx
change.
The stock market upuiu upcucd wi h q
tremendous husiu' -, hut l'ivt. wcrc as
n ruic to 3 per cent, higher than the
closing figures of yes vriuy. rejecting tn,
general impression lou. Il, ",rst had
passed Buying was very urgcnt and
the hrSt tendency ul mlcys Wa to ad.
vance, resulting IL further gains OF 4, /,
! I~r cent, in whici Western Uuipn. Bur
linptun, Union r;.H. and ulr q! the
spcriultics were conspicuous Niia.d DIS
and especially Norrhpu 'ayi!, were cs.
pcciplly active aud strong on enormous
dealings common stock rosy a. aud pre-.
lcrtcd ,.
The general list. however, suOm vicl ted
the pressure Ia ...., .gl the m,lU, lCr
IT further sales, under the rule. ui North
srn Pac,iic, North hUyriy.W. ST Paul land
q few others for the brokers who failed
Yesterday. The q, .vuuurl movement
became more pronounced toward Tho
close III the hour aEG tie market became
l,vCri'iI aud weak. There WAS rally nj
II O'clock and the market hrcomc VERY
,tiye. aud iIrm to stroug, hut general,
Glow he opening prices. prpsia1nt +.
b Tnppcn of Gala la matt, nal .anh, u
member of the New York clearing house
committee, SAID To an uCiatvd u cs,,
reporter at | l o'Cluck,
Our committee is nov in session 81 ~.
ing certificates tor banks w'iyh require
them, hut the indications nrc that the
issue VII he very suill, say. probably,
not more than five millions. which, Nhuu
compared with the issue Of tScnt r.svycn
millions III lSSl, is. you can sec. Il mere
lriils.
There is nothing in the situation So
lar as it effects the associated banks that
is AT all disturbing and there is not thv
slightest reason to anticipate any diStur.
bancc III finances OF this centre. Our nc.
tiou OF yesterday in deciding to issue
clearing house certificates, Was merely
precautionary, So that ii crisis should
come, we would be prepared for it. ",
did not anticipate any such disaster. but
believed il to bc the part OF wisdom to
iurcstnll rather than 10 Lave to meet IT,.
We are entirely satisfied that the sl,ua.
ton viii improve"
The London market to-day was
Iuictcr. American securities were lower
und others slightly weaker. Iarrr are
rumors oi failures. ln view of tnc tact
that London is rcgai dcd Ns the main fac
tor of the situation, il may he imp r.
,nnt to know that bullion is being ship.
ped from many financial ccntgos tu that
point. A half million in silver bars goes
forward to-day on the stcln ship Saalc,
aud Cuba adviccs state that Russia has
sent two million francs IN gold uud will
send two million additional.
1870 y. M.-lhc market is firm to
strong.
The cause ot the foregoing unusual