Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-18
FINANCIAL.
Confidence Restored-0nly Slight Ef-
fectS From the Recent FURRY.
Easier Rates for Money Among tho Favorable
lniications-Oue or Two Temporary
Suspensions Noted.
THE FINANCIAL SITUATION.

THE FINANCIAL SITUATION.
Special to the Gazette.
NEW YORK, Nov. 1.-THE stock mar
ket opened fairly strong; the principal
weakness shown was in A;cheson and
Lackawanna. Most OF the other stocks
showed improvements, notably Northern
! Paciic.
! a raid on sugar trust certificates
carried the price down to so.
As the day advanced prices grew
| stronger, very little was done by traders
! and spectators, most Of the business
| being under the rule for account for the
! suspended firm. Closing prices in Eu-
rope were stronger. Easier rates for
money were among the early favorable
indications. This showed how COM
| petely courageous the attitude of the
| bank OF Commerce and the
! prompt action of the clearing house
! committee have restored confidence
| The supply of money is not materially
| larger than it was last week, but then
| the Or was full Of black rumors, and
| everyb body with money was anxious
/ to hold on 10 it with q tight
! grip. The rates for sterling ex
change were not quotable. Business
| WIS limited to necessary transactions.
| Most shippers preferred to await more
| settled condition before placing bills.
| The bears in Lackawana have over
! reached themselves. great borrowing
! demand was evident this morning, and
rates advanced to !. per cent. for use
! OF the stock. Money values advanced 20
! ii and interest, but the stock market
! closed generally above Saturday.
The important net changes we're: Ad-
vanced-Atchison, 10; Chicago, GIN
clnnati, Cleveland and St. Louis, 2;
Can adam Pacific. /; Chesapeake and
Ohio, -, Chesapeake and Ohio first
preferred, ~, Burlington and Quincy.
l5s; Rock Island, .; North
west, "a; Colorado coal. /;
Lackawanna, 15g; Edison, g., 2;
| Illinois Central, !; Lake shore, y;
Louisville and Nashville, ia, Manhat-
tan, IL; Kansas and Texas preferred,
90; Missouri Pacific, Is; New York
Central, y; New England, q; North
American, IA; Northern Pacific
preferred, a; Pacific Mail, /; Pull
man, 2; Reading, "a: Union Pacific,
I38; Union Pacific, Denver and Rio
Grande, III; Western Union, %; WIS.,
consin Central, y.
Decentralization oil, 214; Cotton oil
trust, =; Canada Southern, IL; dis
tilliug and cattle feeders company. So;
Oregon Navigation, l; Richmond ter
mlnal preferred, 4; sugar trusts, y;
Toledo aud Ann Harbor, So; Wheeling
end Lake Erie, l.
ORDERED TO REsUME BUSINESS.
BosToN, MASS, Nov. l7.-Kidder,
Peabody II Co. are in receipt of tele-
gram from the Barring Bros. stating that
all matters are arranged satisfactorily
and permanently, and authorizing Kid
der, Peabody X Co. to proceed with
business as usual. Boston banks met at
II u. m. TO agree upon concerted action
il precautionary measures are deemed
advisable.
THE Barring BROS. ALL RIGHT.
LONDON. Nov. IA representative
of the Associated Press to-day visited
the house of Barring Bros. Il Co. Every
thing was quiet about Their place OF
business, and there are no internal or
external signs of disturbance. Members
of the firm statsd that all their accept
ances and other liza bilIties will be met as
they fall due. They elso said that the
position of the firm with the Bank of
England at its back is stronger now than
ever before.
FAILED TO PAY ITS BALANCE.
CHICAGO, Ill, Nov. 17.-Every firm
on the board of trade that had trades
with r. w. Wagouer Co. , closed them
out this morning. At noon the clearing
house sent up notice OF the firm 5 failure
TO pay It's balance. Wagner was rather |
a heavy buyer in wheat, in all of which !
he has su tanned severe loss.
MANHATTAN BANK BORROWING.
NEW YORK, Nov. l7.-It was rumored /
on the street late to-day that the Man. |
haitian bank had borrowed 81 900 QUO on ,
loan certificates from the clearing house.
Officers of the bank would not talk on /
the subject, and President Tappan of the |
clearing house would not deny or affirm
it. II was said by several brokers that /
Manhattan was in G perfect sound condi-
ton and the borrowed money was for |
the use of several of the banks Gus
toners who had given gilt-edse security
for the same.
WILL NOT RESUME.
NEW YORK, Nov. 17.-Late this after
noon State Superintendent of Banking
Preston SAID il had been definitely de-
ciied that the North River bank would
not resume. The directors were unable
to secure the required funds. Mr.. Pres
ton said from closer exam ination of the
collaterals he had by the bank as secur-
ity for loans, he had found there would
be shrinkage of their actual value.
This, he believed, would make nomi-
nal deficiency of about 500 900,
EXTENT OF SMITHS FoRGERrEs.
NEW YORK, Nov. 1.-THE approx
mate liabilities of the firm of Mills,
Robson & Smith were due on loans on
which stocks and bonds had been issued
as collsterais, $500, 600; due depositors,
500, O00-total. $500, 900. Assets
Stock and bonds pledged, s35 900; other
property above $3.50, 00O-total, S3s5, 900.
The original or real face value OF the
certificates Smith raised is Sic 500. BY
his foreeries he raised the face value to
$40 900, on which he borrowed Sl47 200.