Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-11-11
THE MARKET UNEASY.
Brokers Fill the Floor Of the New
York Exchange.
ENGLISH RAILWAY DISASTER.
Another improbable Confession of
BenwelPs Murder.
BASE BALL PLAYERS IN SESSION.
THE EXCHANGE CROWDED.
More Brokers on the Floor Than Have
Been for Years

=
Been for Years.
NEW YORK, Nov. 11.-There was larger at
tendance of brokers on the floor of the ex-
change this morning than there has been for
years. Every stock on the list had a crowd OF
brokers trying to trade in it, and when the
market opened the scene was one of confusion
and excitement. The cables reported an
advance of 2 to per cent in
trade. which being received before the opening
caused the brokers to take the bull side, and a
disposition TO buy was shown all around. The
largest crowd was in ST. Paul, which first was
offered at as and then sold At s71s, 90 per cent
above Yesterdays close. Heavy and unexpected
selling by London, however, drove the price
down to 45dl.
THE GENERAL LIST
followed and for few moments the weakness
OF yesterday was equaled. but heavy buying
orders soon began to come in and on an active
business the upward movement was resumed.
Sugar opened up pa per cent on the appoint
ment OF IL. o. Havemeyer, S. V. White and
Gen. Slocum as receivers and moved up to 81,
then reacted to 30, but was soon once more
selling at 81. North American was a weak point
IN the market, opening at 27b and IN six min
utes declining to 2ll9, and then slowly ad-
Vanced to II, at which point it now stands.
EARLY LONDON PRICES HIGHER.
The early London prices this morning were
all materially higher than our figures of last
evening, and this market followed with ad-
vances of from to 2ss per cent,St Paul, sugar
and Louisville and Nashville showing the
greatest gains. There was some hesitation FOR
short time, when perfect flood of stocks were
poured out upon the market and prices were
quickly going downward at most rapid rate.
1heNillard ocks seemed to bear the brunt of the
attack, and North American especially was
subject to severe twist, and from 27J5 at the
dron -
ern Pacific preferred followed with a loss OF
8 per cent, Richmond and West Point pre-
ferred and Illinois Central each 215, Chicago
gas "a, Rock Island 2k, ST. Paul. Lacka-
wanna and Western Union each per cent and
the rest OF the list from to per cent gen.
orally.
ACTED As sTIMULANr.
The appointment of the receivers for the
sugar trust acted as stimulant 10 that stock,
and it was advanced from 55 to 57sl in the face
of the weakness in the regular list. and was
maintained at about Sc for the remainder OF
the hour. The low prices brought in more
buying. however, and the force that opened
the market up began again to show its
influence, and smart rally took place.
the strongest stock on the list was
Union Pacific, which failed to go below the
opening figure, and with the rally advanced tC
4S against "A at the opening. The rest of the
list generally regained the early losses and il
almost everything but the Wizards fractiona
advances were scored. Illinois Central rose tc
90 against 80 at the opening and SO at the low
est The market at ii O'Clock still very
active and unsettled at the Improvement.
THE FIRST FAILURE.
The first failure was announced at noon or
the stock exchange. The embarrassed firm i,
G. NJ Whitney & Company. the representative,
of many of the southern financial institution.
and the representatives. of the Whitney Ma
tional Bank Of New Orleans. A large amount
OF stock has been sold under the rule for theil
account. A receiver has taken possession The
firm of Whitney Il Company was composed oi
Charles NJ. Whitney, Edwin S. Larchar auo
Frank NJ. Larchar. The offices of the firm are
at Sc Broadway.
porters at 81 Pine street. also made an assign.
ment. The firm is composed of John T. Wal
ker, John W. Coombs and Joseph Walker W.
I. Ryle is the assignee.
TIE MARKET RALLIES.
After the announcement of the failure of c.
NJ. Whitney and the break in North American
the market rallied on the receipt of private
cables announcing that f3, 900. 900 in gold were
on their way to London from the continent and
that money was easier in that center. The
Vanderbilt brokers were heavy buyers of Union
Pacific.
At noon money was tight with no offers and
20 per cent bid.
SLIGHT RECOVERY
The stock market after IL o'clock showed O
moderate volume of business in comparison
with the enormous sales Of the first hour and
while firm tone prevailed the highest prices
OF the first hour were not in all cases MAIN
tanned, and Reading and Burlington were con-
spicuous for weakness. each retiring fraction.
while Louisville and Nashville and North
American displayed the most strength, rising
fractional amounts. Union Pacific yielded
from 4S to 46T, but was afterward held fairly
steady at something above AZ.
There were some sales under the rule for the
account Of the suspended firm of Whitney &
Co., principally of southern stocks and Toledo,
Ann Arbor and North Michigan was depressed
by those sales from 26 TO lS15. Other sales OF
ST. Paul and some bonds were made. The
market showed some tendency to yield in the
last part of the hour and at ~ o'clock it was
active and heavy generally at fractions under
the opening prices.
PANIC IN vrLLARDs.
2p.m.-There is panic among tine holders
Of the Willard stocks and the prices for North
American and North Pacific have collapsed.
One broker sold l5, 900 shares of North Ameri-
can and 90, 900 shares were sold by other brok-
ers causing q decline of per cent. Northern
Pacific preferred has already declined l2j< per
cen. since the opening, most of ii since noon,
and the price has fallen per cent at a time.
The crowd in the Willard stocks is enormous.
ANOTHER FAILURE ANNOUNCED
The failure of Decker. Howell d Co. Of A
Broadway has been anno.acsd on the stock
exchange.
Silver opened at 1O2s<; highest sale, Io2sS;
lowest sale, 1927. last sale, 1925.
LONDON's MARKET FEvERIsH.