New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-20
SCARED BY WILD RUMORS.
CAUsELESS CONSIDERATION ON THE LON
DON STOCK EXCHANGE
4 RALLY IN THE CLOSING HoURs-PRovIDING
FOR THE PAYMENT OF THE JANUARY

FOR THE PAYMENT OF THE JANUARY
COUPONS OF THE ARGENTINE LOANS.
London, Nov Io-The Stock Exchange to-day
was prey TO rumors, none OF which were
founded on fact 1t will be astonishing if to-day
CONSERVATION is not followed by sharp rally.
There is nothing in the monetary situation to create
uncasiness. The Bank Of England return Will
probably exceed Gl4 000 OO0 and it is expected to
reach GIG, ,000,0 900 week later. Every facility
viii be given by the Bank of England and other
banks to borrowers on stocks and other securities
Tie country banks have ceased to withdraw
money from London, and there is every appear
ance that the subacute panic is over. There was
a sharp rally this afternoon all around. Prlces
did not fully recover, but the market was re-
assured, and business, which had been practically
IN ,,ossible was resumed even In the most specu-
lativc stocks
The money for the payment Of the January
coupons of the Argentine loans and the next
coupon of the Uruguay debt is already in hand.
The statement that bills drawn by Barring Brothers
.ster Saturday would not he accepted is denied :;
,,ey will be accepted as usual. Rupee paper fell
| to-day, Argentnes to 3, and Uruguay 3.
The chief cause of the depression in the stock
market this morning the refusal of the Bank
of England to discount the bills Of Barring Bros.
a. Co. before maturity.
The Times, to-day said "No bills drawn on
ysSring Brothers after last Saturday by cor
respondents will he accepted, but all drawn pre-
viously will he recognized. The Bank OF Eng
land is practically in charge of the Barings'
fairs. 1t is probable the firm will be restisci-
tstcd with fresh capital The bank is charging
a high rate of discount in order to prevent an
thrush of bills 1t desires holders to exercise for
bearance and not throw unnecessary work on the
5ank. All acceptances already provided for will
he met at maturity"
Tie bulk of the bills discounted at the Bank
of England for this week were indorsed by the
Earrings. and in no cTe was refusal heard of
where such bills were overdue The banks SIN
gic4 out patches of the Baripgs' bills and en-
ployed broker to meet them, and the Bank OF
England charged but little extra. The Bank OF
England will be represented in the Argentine Com
mittec of Inquiry The committee will first eX-
anime whatever proposals the Argentine Govern
ment may have to make.
The rumors that another large Anglo American
house was in trouble have proved to be without
foundation. Grant & Lothbary, spectators
whose account has been partly carried by the
market for liquidation, at the end of November
will be granted an extension beyond that date
by the parties interested. Accountants have in.
vestigated the firms affairs and its securities
have been valued by two members Of the Stoc,
Exchange. A surplus of over $500, 900 has been
found, taking into account current depreciatons
but il being impossible TO sell now, il has been
decided to hold on.
At Il 80 p. IN. prices on the Stock Exchange
as compared with last evenings closing prices
showed decline of 3-i6 for consols for money
de- line of JIG for consols for the account, a
decline of for Canadian Pacific q decline OF
,,, sts for Eric, a decline C ior Ei.c sccor.d
| conDls, a decline of for Illinois Central, a
| decline of 5-s for st. Paul common, a decline
| of 1-2 for Ncw-fork Central, q decline of Sd
| for Pennsylvania, "a decline of l for Reading, q
| decline OF 3-S for Atlantic and Great Western
first mortgage trustees certificates and no change
for second mortgage.
| Att o'clock American securities were one dolal
per snare higher than the prices quoted at II :3c
p. ,.o;o, soour;.,,s war;, s,ood;or
but american railway securities were again droop
Prices at the close as compared with the II :3(
| p. II. prices, showed no change for consols FOL
| mOmy: an advance of IL 6 for cons0ls for the
| account decline of 1-2 for Atlantic and Great
Wesern first mortgage trustees certificates; ne
| charge for ditto second mortgage: decline OF
3, for Canadian Pacific a decline of IA foi
| Erie: an advance of . for Erie second conSols
no change for Illinois Central; an advance at l.:
for St. Paul common: no change for New-NorF
| Central: decline of l-2 for Pennsylvania, and 9
| decline of IA for Reading.
Paris. Nov l9.-On the Bourse to-day prices
| we're irregular. There was general recovery to
ward the close, but an uneasy feeling prevailed.
| Berlin, Nov 19.-Prccs were unsettled Oh tht
Boerse throughout the day At the close ther'
was a moderate recovery, but the last quotations
showed a general decline as compared with yes
The Hague. Nov. i9.-The Banl, of the Neither
Hands has advanced the rate of discount from
to 1-2 per cent.