Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-11-13
A MAELSI'RON
Into Which Several Wealthy
Firms Are Drawn.
Disastrous Days In the New York
Stock Exchange.
AS UsuaIJay Gould is Held Re-
sponsible for 1t.

Among Them is G. A, whitney & Conn
pany, srokers; IoIn r. Walker sens q
Company. silk Importers and Decker,
Howell s Company, Brokers Liabilities
Of the Latter Estimated at aic,ooo,aoo.
Three Banks Unable 20 settle.
NEW YORK, Nov 49, Monday and
Tuesday was two of the most disastrous
days in the history Of the Stock Ex-
change Alarming cablegIans from
abroad started the breakup, and as the
prices plunged downward numerous
firms were forced to assign on account
of tight money. The banlSs--the Bank
of North America, the North River and
the Mechanics and tTraders-at the
close Of business Tuesday night had diff
fculty in settling the claims Of other
banks against them The first named
had a balance Of 81 ,400,000 against it.
q. NJ. whitney & Company Cio Under.
One of the most prominent houses on
the Exchange went under early IN the
day, G. M, Whitney 81 Company.
brokers, of 96 Broadway, making an
assignment as soon as the county clerk s
Office opened The firm was one Of the
richest in the street. They We're known
as the Louisiana Whitneys. and repre-
sented many southern institutions in
Guiding the Whitney National bank Of
New Orleans. They We're identified
heavily and interested in the Toledo and
North Michigan railway, and the Hook
ing Coal and Iron company, and Texas
Pacific. The liabilities Were given in
round numbers at $500 0O0.P
John T. walker, Sons q Company.
A second failure. one for $1,000, 600,
was announced. Great surprise was eX-
pressed when it became known that
John r. Walker. Sons 66 Company. inn
porters Of silk at No. 81 Pine street had
made general assignment to William
II. Rvle. Of the firm of William Ryle 81
Company. in the same line OF business
ut No 81 Howard street The assign
ment was drawn up Monday night and
filed the first thing Tuesday morning In
the county clerks office. The cause OF
the failure was the inability Of Night
ingale Brothers 81 Knight, of Pater-
son. N. j.. silk manufacturers, to liqui-
date their liabilities to the firm. The
firm is rated by Dun 81 Company at over
$500, 900.
Oeckef. HOWeli ~ GoIlapun$s
Just after 215 p. M the failure Of
Decker, Howell 81 Company, Of No. Az
Broadway, was announced in the Stock
Exchange. The firm is one of the largest
on the exchange, and was considered
very wealthy Ii had been identified
for years with the movements Of the
Willard stocks, and We're generally con-
sidered Wizards special brokers. The
failure was considered the cloud that
had been hanging over the market, and
after it was announced rally OF to 2
per cent. occurred.
w. Nelson Cromwell, the assignee Of
the firm, made the following statement
concerning its affairs late in the after
noon:
@The liabilities are about $4,000, 600.
and the assets, at the present market
price, largely exceed that sum.
David Richmond Goes Down.
David Richmond, stock broker at 80
New street. made an assignment TO
Frank l.. Requa Mr., Richmond has
been member of the Stock Exchange
since 1870
A number of smaller firms also went
down in the crash.
Money was exceedingly hard to get at
enormously high rates, and confidence
was not exhibited i'll any quarter. Tues
day night it was thought that the worst
was over and that things would settle
Themselves into the usual channel.
Runors were current that the Wander
bilts would come forward and sell $40,
600. 600 in bonds to the government and
thus ease the market
Jay Gould Blamed.
The trobule was laid TO Jay Gould.
Wall street has for years looked upon
Mr.. Gould as its evil genius Any de-
cline in stocks. any stringencyo of money,
is at once ascribed to his wicked machi-
nations. The method Of explaining
away disagreeable events is popular IN
Wall street. because it saves Thought,
Tuesday his name was ON many lips,
and was not joined with blessings, but
with maledictions.
Mr.. Gould was quoted as having said
that he had got what he wanted in
Union Pacific. These things seem to
give authenticity to reports which have
been in circulation Of late, that Mr..
Gould was trying TO depress the market
with view to acquiring stocks.