Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-11-13
THE BIG SLUMP.
a MATERIALLY BETTER FEELING,
HOWEVER, IN WALL STREET.
Both Money and the General Situation
IasIor-Rumors of Further DIM
cuitics-A Bank Closed.
by telegraph 70 the Dispstch.l

10y f'i'kf oin W Noo biaFatShsj
NEW YoBR, November IL. The stock
market to-day showed a materially bet
ter feeling. both in the street and out
side. and there was a most gratifying
confidence displayed that not only was
the worst now over, but that the i'm
provcment would be quick and sharp.
The action Of the Clearing House Com
mittco in coming TO the relief Of banks
Ia difficulty was the means Of restoring
the confidence of many, while the i'm
provement in the situation abroad was
also powerful factor 10 that end. Not
only were the active stocks much higher
ell day long, but tho inactive specialties
which yesterday could not find buyers at
any price were to-day taken at constantly
alyancing figures, and the heavy slump
IN those shares was in great measure
made up. The liquidation in the Vii
laris is now believed 10 have marked
the elimination Of the efforts to force
complete liquidation in the street. ~
those stocks had resisted the force applied
for much longer time than any other
group Of stocks on the list.
TIE WHOLE SITUATION BETTER.
The impression now is that the whole
situation has been changed for the bet
Ter and that the improvement IN the con
3ition Of affairs will he followed by
higher prices all along the line. There
we're rumOrs Of further troubles in finan-
cal circles. and the North-i'iyer Bank
went into the hands Of an examiner late
IN the day. though the fact was not made
known until after tho close OF business.
Foreigners woro heavy buyers all day
lone and the transactions for foreign ac-
count were 30 large that the suspicion
that late sales for London were for short
account was openly expressed. The
loapinp rates for stocks have becn very
high, and inquiry has been very urgent,
which would 20 10 give color to tho sus-
piclOn.
MONEY STILL TIGHT.
Money WAS still tight at the Exchange
and premium Of &c. was exacted for its
nee over the day, while it was believed
that the banks were loaning to their
customers on satisfactory collaterals at
rat.s even lower than legal figures. Tho
luviug was throughout Of a most conf
dent character and reflected an easier
feeling both in money and as 10 the
General situation. Tho report that
Gould had acquired control of tho Union
Pacific again was used for all it was
worth, but the stock showed no response
G. the story, and to-day was only fairy
active and moved over "A comparatively
narrow range. There were reports that
the North American Company was In
trouble, aud while the officers announced
Giat tboy hnd tided over their engage
ment-. the stock WAS sold heavily and
While taken freely failed 10 advance
With the remainder OF the list and was
especially sluggish in comparison with
Northern pacilca The transactions in
IL. however, were on an enormous scale
and aggregated abOut one-qGarter OF the
tot.1 business done IN all securities
THg GENERAL INST PEyERIsH.
The general list was very feverish, but
thcre was AL almost continuous advance
in prices from the opening TO the closing.
Early London figures showed again
nnrked improvement over ours OF last
night and were followed with advances
of from TO 3 per cent, and although
selling was very heavy in the early
trading the demand was such that tho
list failed 10 go much under opening
prices. The principal adverse influence
al the time was sales for account Of sus-
4 tI,g
iully ,ided over.
Northern Pacific took the lead imme-
diately IA the upward movement ana
before noon the entire list followed,
placing prices on a materially higher
level.
GAINS ~ EVERYTHING.
The gains extended TO everything
traded in, and the fluctuations in few
of the specialties attracted considerable
attention. Pullman dropped to l6S, the
lowest price for long time, but recov-
cred nj the close 10 lSj. Other move
mcnt, we're on smaller scale but suili-
clrlt'y large 30 cause a recovery OF most
OF lhc losses Of yesterday. The market
became much more settled in the after
noon. and comparative dulness was seen
10 times in tho list. This was not of long
damuon, however and the buying move
mcnt took an increased force toward the
end Of the session, and the close was nc
tive aud very strong at about the highest
prices Of the day.
THE WOsE ACTIVE AND STRONG.
The final advances were almost inva-
rahly for material amounts, gains of
fractions being the exception. Northern
Pacific preferred is up per cent, com
mon - Wheeling and Lake Erie pre-
ferred 5, common | 81. Paul 3s, Bur
ington and Quincy 81, Sugar Reiineries
aud Cleveland. Cincinnati. Chicago and
50. Louis 81, Union Pacific 3i, Atchison
% Rock Island 2. Missouri Pacific p,
New York Central q. Western Union,
2l, and others smaller amounts. Sales
oi listed stocks, $4,000 shares of un
listed, 5000.
frcRinG. nG.-Exchange quiet aud steady.
Money stringent at 3a5 last loan at 4,
closing offered at q. Sub-Ireasury bal
nuces Com, Slli,5Sl, 900; currency,
Si,34t, 600. Governments dull aud weak (;
4per cents, ~ 4fe, IO4. State bonds
dul but steady.
STOCK QUOTATIONS..
Alabama-C Class A, 2 10 5..........1 .10l
IS, 0'B.............lOI
Georgia rs, mortgage ............ q.
North Carolina cousol G's. Tex. int )12ll
North Carolina 4s................ 81
South Carolina Browns. 100
Tennessee 6's .................... 100
tennessee %. .................. lOu
Ienuessce's settlement. ....... &C.. 20
Virginia 6's................-.( .(bld) 90
Virginia 6'e, conSols ...,.......... AZ
Chesapeake and Ohio. o..
Northwestern ................... .lO5f
Northwestern preferred. d......... 1873
Delaware and Lackawanna. ...... 1860
Erio .................. 49,
East Tennessee railroad. ......