, 1890-11-13

at tho highest figures of tho morning.
Northern Pacific common, 2Ol1; pre-
forred, 60A; North American, 20. An
Associated Press reporter interviewed
President II. ID. Tappen, Of the Gallntin
National bank, and members OF the
clearinghouse committee. ''Our COM
mittee is now In session signing certih'
Gates, but tho indications are that the
issue will bo very small
Probably not moro than 5000, 900
against 27,oo0, 600 In 1884. Nothing in
the situation, so far as II affects the as.
ISOLATED banks, is at all disturbing; not
the slightest reason to anticipate any
disturbances In the finances of this cen
tor. Our action yesterday in deciding to
issue certificates was merely precaution-
ary. We did not anticipate any disaster
but believed II part of wisdom to fore
stall rather than to havo to meet it. We
are entirely satisfied the situation will
improve"
Wall street, 1880 A. M. A circular
was issued last night to the stockholders
OF the North American railroad to meet
this morning to discuss the situation.
The meeting Is now in session. There
arc rumors ofthe formation off German
syndicate to protect Willard stocks. Tho
Bank of North America was credited at
the clearing house to-day and the Off
cials state they are again in good shape.
Meeting of directors Is now in session.
The market developed new strength
after II o clock, and while money was
loaning at 4 interest prices rose ma
terially, the extreme feverishness the
first hour still continued, but better
tone was noticed oil over the list.
| Another advance in tho latter portion of
the hour sent North American to 2o94
Northern Pacific 81, and preferred 81
Although these prices were not hold
long among the usually active stocks
there was less animation, but the i'm
provement for the hour exceeded 1 per
cont In many cases, st. Paul, Atohison,
burlington and some of the Inactive
specialties being most conspicuous,
Trusts were comparatively quiet at noon,
the market active and strong, generally
at the best prices of the morning. The
decision Of the New York clearing -house
to issue certificates TO be used in the
settlement of balances aliayed the ap-
prohension of bank failures and in that
respect had a beneficial effect in helping
the recovery. Receivers White and
Slocum, Of the sugar trust, have taken
possession of all the properties and af-
fairs of the trust and have established
their headquarters ut III Wall street.
The meeting of the North American
Railroad Company is over and u state
ment authorized that the company has
but few creditors, and these arc strong
financially, who have agreed to see the
com pany through, and that the assets
of the company are wholly intact.
| Wall street, ;30 Z. Mall day stocks
for account Decker, Howell & Co. and c.
NJ. Whitney sold under the rule, but lit
tie attention was paid TO the sales except
by creditors of the firms. The fact that
no more trouble was developed among
banks caused a steady return of conf
dence and prices moved steadily up
ward A powerful pool has been buying
| Northern Pacific preferred and so far
that stock advanced z per cent. The
rest of the list ranges = to 4 above last
nights close.
Wall street, P. M.-The market is
now at its best and the general list at the
highest OF the day. Advances on last
nights prices range from to 9, the lat
ter for Northern Pacific preferred. Total
| sales to this hour amount to over 500
600 shares, of which 260, 900 are Willard
specialtes. Money rules x per diem
and interest quotations OF the day 80 per
cent.
| Wall street, 2:10-Money more plenti-
ful. The market shows the effects of the
buying by commission houses for long
account. The purchases are largely paiu
for and will tend to relieve thc situation
by the withdrawal of these stocks from
the street. The feeling is that specula-
ton will rule feverish for few days
until settlements between the banks and
suspended firms have been adjusted. but
1t is believed the element of danger has
been Withdrawn from the market. Good
| buying orders are coming to the street.
At 2:l5 the market is active, unsettled
and something under the best OF the
day.
$3.50 p M.-The critical period of the
day, delivery hour, passed without the
announcement OF any additional fail
ures. The financial horizon is decidedly
clearing. Money is down to per cent.
per unnum and plentiful.
| y. M,-Money has been stringent,
ranging from to per cent, with the
last loan at d. stocks in the last hour
were marked by increased animation,
with the usual sharp fluctuations and
general rising tendency, although only in
sugar, which rose TO So were there any
material advances. Later, however,
grangers became prominent. Rock lsl-
and touched TO- St. Paul 401s. Tho
market closed active and strong about
tho best prices of the day. Northern
Pacific preferred is up per cent, com
mon 2M, Wheeling Il Lake Erie pre-
ierred 4, common Us, st. Paul 3ss, Chi
cago, burlington & Quincy ga Sugar
and @, {. G. & st. Louis 34, Unioa
Pacific 35s. Atchison 27s, Rock Island
| 9H, Missouri Pacific ~, New York
Central 24, Western Union "a, and
other small amounts. Governments dull
and weak tor the fours.
In Phlladel phia.