The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-14
WALL STREET IN DOUBT.
PRICES CLOSE LOWER, But MOST
MEN ARE HOPEFUL.

Raid on North American Rattles 1t
Oown over Eleven Points-The Gen.
oral List, However, Failed to Fol-
low It Down-Northern Pacific Also
knocked Out.
New York, Nov. 13.-The general feel
ing in the street has undergone marked
change for the better, and the opinion of
most of the habitues of the street is that the
obiAct of the influential combination of
oonitalists which has forced the recent de-
cline has been accomplished, and that
With the effectlng OF reforms in the railroad
brsiness now proposed there will come a
ganeral improvement in values. The late
reaction from the low prices of two days
AGO is regarded as principally the effect of
the covering Of shorts. together
with some buying by those who
had thrown their holdings over on
the scare. There were no further failures
or bank suspensions to disturb the even
course of events, but the bears demonstrated
the fact that they have not-as yet gene 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 a comparatively
small scale they were, In some cases, very
material, though final changes are in most
cases for fractional amounts only. The ef-
fects of the closing of the North River
hank Yesterday afternoon, and the wild ru-
inors circulated in regard to the North
American company were shown at the
opening this morning, and this market tol-
loved London, which had been disturbed
by cables calculated to cause distrust, and
everything on the list opened at materially
lower figures than it closed last evening.
A RAID ON NORTH AMERICAN.
Fear was expressed that the losses of
Decker. Howell & Co. would have to be
stood by the North American Company, as
its liabilities we're regarded as too large for
private firm of their standing to have in
CURED, and there was great fear that the
securities which comprise the assets of the
concern would have to be sacrificed. At
the opening there was an immense crowd of
brokers in North American stock, and with
the sound OF the gavel every one offered the
stock for sale, and, while it closed
last night at 1875, the first sale re-
corded was at 16, from which point it was
quckly ratified off one point at q time till it
touched T. Buyers we're found at this figure,
however, and it quickly rallied to IL, and
after some quick and violent fluctuations it
settled around II. The general list, which
had sympathize with North American to a
limited extent, failed to follow it down,
and general bullish feeling soon found ex-
preston in smart advances all along the
line in which the Vanderbilts. and espe-
cialy the Cleveland, Columbus. Cincinnati
and st. Louis. Reading, Atchison, North
ern Pacific, Louisville and Nashville, and
the grangers were conspicuous. the extreme
gain from the lowest point being 3 per cent.
in the first named.
RETURN OF THE BEARS
The news OF the day, however, especially
from the west, was not of specially en-
couragiDg character, and when buying
Stacked away the bears again came to the
front, and failure in the sugar trade was
used with considerable effect against the
market Rumors of further trouble among
the clearing house banks were started, and
vicious attack upon Northern Pacific,
quite in the old style, followed, by which
that stock was forced off from 63A, the
best price offered, to 5S1S. The entire list fol-
lowed, ana sugar refneries. which had been
quiet during the greater portion of the day,
upon the discovery that the trans sfer books
had been closed, and no authority existed
to open them, dropped from SO to SAX, with
ademoralzng effect upon the general list
Ihe movement. however, in a few stocks
carried prices below the opening figures, and
late in the last hour there was some re-
covery, the market finally closing active,
out fairly steady, at small changes from the
Irs5 prices as rule. There was some wide
huctuetlon among the specialties, with Pull
man, Illinois Central and Tennessee coal
tne most conspicuous, but their final
cAanges are generally comparatively small.
sugar IS down 311s, Northern Pacific pre-
ierred rs, Pacific Mail ~, Louisville and
Nashville rs and North American TX,
WIN only fractional changes in the rest of
the active stock. The sales of the listed
soocSS .; y! looted up 5400 900 shares, and of un-
TREASURY TRANSFERS.
NAsHINGToN, Nov. 13.-The treasury
department. is informed that over 81, ,2oO, 900
was transferred from San Francisco to
view Sew Xork to-day under the privileges con-
yesterday.
CONFIDENCE RESTORED AT LONDON.
LONDON, Nov. 13.-The stress in the
stock S market during the last few days was
uue 10 the weakness of a large firm of pri-
rsVe bankers This firm has now amaiga-
mated with large London bank. There
was was sale OF 9750,000 worth of consols yes
SS'usy IN connection with this transaction.
nv HOaIaence e now prevails and everything is