Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-19
FINANCIAL SITUATION.
An Agent of the Barring Bros. Banking
House Interviewed By the Gazette.
Interesting Resume of,he situation n, Zone
and Mountaineering Advances
and Declines.
AT HOME AND ABROAD.
srccfal tc the Gazette.

London this morning was not quite so
reassuring as yesterdays although nc
/ more trouble is anticipated. The money
market was reported to be in u fever.sh
condition. PrOvir cial bankers were
said to be withdrawing their credits aud
the Bank OF England was doing heavy
business ct : per cent. The guarantee
said TO have reached GIj. 600 coo .
Prices for Gil sorts OF spcurpties IL London
were weaker, although Americans were
not much below yesterdays closing in
New York. London confidence hus
been so severely shaken that its recovery
must De slow.
the New York stock exchange opened
fairly strong. Many buying orders
were apparent, especially in the Willard
stocks. lackawanna WAS strong
after opening prices sagged OF.
Money WAS still stringent IN
consequence OF the tirniditv OF
some OF hunks, and this acted against
the stock markets. The bears, who have
been very quiet OF late, began 10 assume
an aggressive attitude. They did not
want 10 see pane, but now that the
danger of panic was over, they wanted
to see stocks go lower. They attack ed
the ma, ket very vigorously in the after
noon, and frightened holders III liGuli-
ating. Declines were heavy and quick
extending TO between 3 aud per cent in
many OF the active stocks
Vague rmmoys OF trouble were in the
sir. Bankers spoke more enccuraglngly
of the outlook i'll the money market.
Very little demand for commercial paper
was reported. On the contrary, many
merchants were reported to be paying
back loans, particularly The dry goods
men.
The foreign exchange market was in
better condition. Rates for sterling en-
change were quoted once more. Cables
stated that some houses on the other side
were discouHting bills receivable at per
cent. The bankers decided TO take out
certificates ut the instance of any GUS
toner and pay the money to the customer
if he puts up good collateral. This news
made money wonderfully easy. Altar
lOaning at so per cent. it went down 10
3 toy mixed collateral. No action waa
taken on the matter OF the "a per cent.
Gu premium OF certificates.
The stock market in approved very much
in the last hour and closed very strong.
ne !iitpVtlhll tuAN-SS were. Au-
vauced-Ceutra! Pacific. y Chesapeake
and Ohio first preferred, II; Distiliers
ana Cattle feeders company, "a; Illinois
Central, q; Lake Shore, r.; Lead Trust,
Il: Northern Pacific, "a; Oregon Short
Toledo ana Ann Arb0r, ..
Declined -Atchison, l3t; Canadian
Pacific. 20; Chesapeake and Ohio, IL;
Burlington and Quincy, l38; St. Paul,
Ia; Rock Island, l.: Colorado coal, 81;
Lack awauua. %: Erie, ia; Louisville
and Nashville, "a; Manhattan. .; Mich
igan Central, ia Missouri Pacific. 80;
Jersey Central, 5ls; New England, 4;
North American, =; Pacific Mail. 81;
Silver Certificates, 21a: Union Pacific,
23s; Western Union, 80; Wheeling and
Lake Erie, Il.
BARING BROS. WILL NOT Go UNDER.
Special 10 the Gazette
NEW YORK, Nov. lS.-Thomas Bar
ing, member OF Kidder, Peabody & Co,
American agents of Barring Bros, and
brother of Lord Revelstocl;, head of the
London firm, said 10 a reporter of THE
GAZETTE: ~ wish 10 deny i'll most EN-
phatio terms the statements or imp!ica-
lions in London dispatches this MORN
go into liquidation and cease 10 exist
within & few years. There Is absolutely
no other foundation for the statement
than that there will be possible reor-
gHnizGtion of the firm in consequence OF
the retirement OF Lord Revelstoek from
the head Of the house. In order TO ac-
this there may possibly be
nominal liquidation, but the business of
the bEnk would continue rs before in the
hands of reconstructed firm.
A liquidation in the seuse that the
bank : Affairs be wound u and and thes
house's eX stence be discontinued, is
not in the slightest degree probable or
creditaLle. IL is not even certain Lord
keyelstock is to retire, though il IS not
lm probable. 1t WAS pointed out to-day
that while some brokers were bidding
70 per cent. and nterests-lS6 per cent.
per annum-for money on mixed colIat-
erals, yesterday afternoon DreXel, Nor
yan h Co. were Offering money on divi-
lends al per cent. Some persons were
decidedly of the opinion that the state OF
affairs indicated was that there vas
some locking up of money yesterday with
malice afOrethought, and that the banks |
we're the guilty persons.
LOAN CERTIFICATES ISSUED.
NEW YORK, Nov. 18.-Chairmuu of |!
the loan committee OF the clearing house |
stated to-day that 81 900, coo IL loan |
had been taken by the banks |
o-Gay, aud he expects larger issue to- |
morrow. A movement is OIL foot to have
he bank presidents offer to take from the |
ecretary of the treasury $40 COO 900 in |
mail coin on condition that he buys |
,er cent. bonds to that amount, and If
he bank presidents succeed in the pro-
,osal they will take the balance of the
mall COIN held in the treasury.
CrIoN OF PHILADELPHIA CLEARING
HOUSE.
PHILADELPHIA, Pa, Nov. ia
Meeting of the clearing house commit
ee WIS attended to-day By all the MEM
ers. The ACCESSIBILITY of issuing oertif-
ates was discussed, and all the presi-
ents agreed that such step would be
wise one at this time. A resolution pro-
iding for the unlimited issue of certiG-
ates was then presented and adopted
Without dissenting voice. The
ommittee decided TO meet daily
t IL O'Clock for the purpose
examining collaterals presented by
nrious banks and to issue certificates
he bankers decided, after some discus
ion. to issue loan certificates in unliin-
ed amounts. Philadelphia banks have