Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-11-15
THE PANIC IN WALL STREET.
Dark Days OF '73 Fortunately Averted
for the Present

| BOTH POLITICAL PARTIES TRY TO TAKE ADvAS-
TAGE OF THE srrUATIoN-sTANLEy's RE-EN-
TRANcE-HEREDITARY pUBLIsHERs-A REALS
TIC STAGE INcIDEST-THE BASE BALL CRISIS.
special Correspondence Of The EVENING STAR.
NEW YORK, Nov ID.
At one time it looked rs if Tuesday would be
| as black as the memorable Friday in '73
when the whole financial fabric Of the country
trembled on the brink Of chaos. The scene in
the exchange recalled the turmoil in the great
panic of that year and a very sensational and
dramatic item was added in the sudden death
on the floor OF one of the brokers, partly, at
least, induced by the great strain under which
he isbored. The failure Of Decker, Howell Il
Co. on Tuesday for $40, 900 was an uncom-
fortably close parallel to the collapse of Jay
Cooke d Co. Both firms were carrying North
! ern Pacific, and both found that burden an
'old man OF the sea-" who Rugged them tighter
and tighter and grew heavier and heavier till
| they sank exhausted under the incubus.
Tuesday night was one of the most anxious
nights IN money circles that New York has
seen for many year. After tempestuous
day. marked by three great failures and with
the loan market at panic rates, the contesting
forces were resting on their arms. waiting for
renewal of hostilites and of perhaps battle
to the death on the morrow. The market had
siumped until margins were exhausted and
money was hard to get at half of one per cent a
day. The clearing house had come to the res
cue by pledging its credit to support three of
its members that had found themselves beyond
their depth and there was no telling how far
the disaster would spread. Wednesday. how
ever, proved to be happy disappointment;
the fury or the cyclone was apparently ex-
hausted and men breathed frecr.
THE REAL TROUBLE REMAINS.
However, the real trouble remains, namely,
the skeptical attitude of the public at large to-
ward that machinery of investment known as
wall street. 1t is now four full years since the
street has seen good times. 1t expects periods
OF dullness, alternating with booms; in fact,
that Is the way the money is made; but ever
| SINCE 1856 there has been a slow, sullen
decline III values and diminution of
| interest in the business of stocks. OF
course there have been occasional spurts,
| but the whole trend has been downward. AS
a consequence the street is in no condition for
q night. 1t Is like man whose vital forces
| have been wasted by chronic disease or by
| some chronic vice until he can offer no resist
ance to a sharp attack of fever or other enemy,
| and so succumbs, when of itself the occasion
would hardly be alarming. 1t is this state of
! low vitality which makes The present sickness
| IN wall street SO omlnous. At the same time
] 1t Is so notorious that some of these spIndling
| invalids have remarkable tenacity of life.
The republicans have been quick to seize
| the opportunity to declare that the panic has
been the first fruits of democratic victory
The democrats, however, claim that the skies
nave been threatening for months, even for
years. At the same time the results in the
west have rather alarmed capital and may have
assisted IN precipitating what was already in
evitabie.
sTANLEY's REPENTANCE.
Outside of the panic the event of the week
has been the temperance of Stanley on the
| lecture platform. His re-entry, however has
| certainly been much clouded by the horrible
tales with which the public have been bonn
barded of late. Mr.. Stanley, upon the WHOLE
| has conducted himself with the dignity that
belongs to his place, and at the same time his
| friends regret that he has said even
as much as he has done on
the inside scandals of the expedition.
Personally the great explorer seems to be in
fairly good health and in vigorous spirits He
| mas Kept aloof from almost all social engage
ments, and has settled down with the same
| grim determination that has taken him so
| many times across Africa, to perform the Jour
ney-quite as arduous in its way-that is in
volved IN a protracted lecture tour through the
United States in winter.
THE BASE BALL CRISIS.
Unless the signs fail at the last moment the
Players League has disappeared from the
| horizon Of base ball. The capitalists have been
| beaten matter. All through the year the indi-
cations pointed that way, and the conferences
during the week in New York have practically
settled the matter. 1t is very commonly said
however, that even peace between the factions
Will not restore the prestige Of the game, GER
tainly not for one year. Possibly if the season
| IN 81 shall prove to be a brilliant one people
will forget the fatal dissensons that made a
reorganization necessary, and will again de-
velop the crank bump i'll all its pristine bump
10 tn,ttn as
latlon, and base ball stock for a year or two
will be particularly risky gamble.
TOO REALISTIC.
Almost singular commentary on the play
life OF the stage came out during the week in
| little episode that happened at the New Park
Theater. In the play that is running there. are.
OF course, the two Indispensable characters of
| the villain and the poor heroine who is pursued
by the aforesaid villain, but ultimately check
mates him in his nefarious schemes. On this
| occasion the heroine, according to her
| usual lines in such cases, provided by the
virtuous playwright, was defending herself
| against the villain, and making a very de-
| termined use Of a long knife for that purpose.
The gallery boys were in q high state OF ex-
citelnent over her valor, when by accident she
| happened to scratch the villain with the knife
and bring a stream OF blood from the wound
| whereupon the actress became historical and
| gave every indication that she would not have
ISaiiy lOT tuluB. 1le lllu-
sion was somewhat dispelled by this episode,
| but soon the villains wounds were staunched
! and the play proceeded, q little the worst for
wear, but nevertheless to a successful termi-
nation, when the curtain fell upon the last act.
HEREDITARY PUBLISHERS.
| The death of Daniel S. Appleton of the pub
fishing house Of d. Appleton Il Co. Thursday
afternoon will more than ever throw the bur
| den of that great establishment upon the third
| generation of the house. Already the hard
I work OF the firm is done by W. W. Appleton
| and his brothers-the grandchildren Of the
| original head of the house. The same is true
OF the great house of Harper Bros, which is
| now carried on by the third generation OF the
| founders family. The house of Scribner is in
| the keeping of Mr.. Chas. Scribner, son of the
! founder, and in general it may be said that tho
great publishing houses OF the city are almost
J without exception in charge of descendants of
those vino gave the publishing business in this
city its first impetus.
| A DIET OF no.
| The curiosity of the week has been the fast
J ing Of the Italian, Giovanni Succi. He claims
to be able to subsis. for an indefinite period on
| water and an occasional sip Of Elixir Succi"
! and it must be said that he makes a model
boarder, for he does somehow contrive to exist
| for protracted periods on this spare and simple
| diet He arouses less interest, how
ever, than the famous DIR. Tanner. OF
| this latter gentleman, by the way, l
have heard q curious anecdote. The doctor
was accustomed to walk in Central Park
! for exercise during his fast and on these trips
| he laid great stress on drinking at bubbling