Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-11-14
The WEATHER IN RIcHaoSp YESTERDAY
WAS partly clear and cooler.
Range Of Thermometer at the front door
of the Disnrtch Office Yesterday,
Mesn temperature. ...............5
NEW Work STOCK MARKET.

Mesn temperature. .................5SK
NEW YORK STOCK MARKET.
NEW YORK, November lS.-The stock
market to-day, while still very active,
showed less excitement in the early trading,
and afterward subsidized into the ordinary
appearance, with only usual fluctuations.
The general feeling in the street has I'M
dergone q marked change for the better.
and the opinion Of most of the habitues
of the street is that the object of the in
fuential combination Of capitalists which
forced the recent decline has been accom-
plished and that with the effecting Of the
reforms in railroad business now proposed
there will come o general Improvement in
values.
TIRE REACTION.
The late reaction from the low prices Of
two days ago is regarded as principally tho
effect Of the covering of shorts, together
with some buying by those who had
thrown their holdings over on the scare.
There were no further failures or bank
suspensions To disturb the even course Of
events, but the bears demonstrated the
fact that they have not rs yet gone into
their holes and are still very much alive.
The natural tendency Of prices 20 advance
after the late severe drop was checked, and
while fluctuations wore on comparatively
small scale they were in some cases very
material though the final changes are In
most cases for fractional amounts only.
THE OPENING LOWER,
The effects Of the closing of the North
River Bank Yesterday afternoon and the
wild rumors circulated in regard TO the
North American Company were shown at
the opening this morning, and this market
followed London, which had been dis
turbed by cables calculated 10 cause dis
trust. and everything on tho list opened
at materially lower figures than It closed
at last evening. A fear was expressed that
the losses of Decker. Howell " Go. would
have TO be stood by the North American
Company. The liabilities were regarded
a. too largo for a private firm OF their
standing 70 have incurred. and there was
great fear that the securities which COM
prise the assets OF the concern would have
to be sacrificed.
NORTH AMERICAN down..
At the opening there was an immense
crowd OF brokers in North American stock,
and with the sound of the gayel every one
offered the stock for sale and while n
closed last night Mt 1873, the first sale re-
corded was at Ii, from which point 1t was
quickly ratified of. per cent ut time,
until it touched 7. Buyers were found At
this figure. however, and the stock quick
Nv rallied 10 II. and after some quick and
violent fluctuations, settled around IL. The
general list, which had sympGthized with
the drop In North American % IA limited
extent, failed 30 follow II down, ami the
general bullish feeling soon found OK
preston IN
SMART ADVANCES.
All along the line, IN which the Wander
bits and especially Cleveland, Cincinnati.
Chicago and st. Louis, Reading, Atehis0n,
Northern Pacific, Louisville and Nashville,
and the Grnngers we're conspicuous, the
extra gain from the lowest point being per
cent. in the first named. The news Of tho
day, however. especially that from the
West, was not Of a specially encouraging
character, and when buying Stacked away
the bears again came 10 the front and the
failure in the sugar trade WIS used with
considerable effect against the market.
RUMoRs OF FURTHER TROUBLE.
Rumors Of further trouble among clear
ing house banks were started anda vicious
attack upon Northern Pacific, quite IN tho
old style, followed, by which that stock
was forced off from 83l(. the best price Of
the forenoon, to size The entire list fol-
lowed, and sugar refineries, which had
been kept quiet during the greater portion
Of the day, upon the discovery that tho
transfer-books had been closedand that no
authority existed 10 open them, dropped
from 30 70 So, with d0moralizlDg effect
upon the general list.
TIE CLOSE FAIRLY STEADY.
The movement, however, IN few stocks
A l. .a..s. - an
and late in the last hour there was some
recovery. the market finally closing active
but fairly steady at small changes from
first prices as q rule. There were some
wide fluctuations among the specialbes,
with Pullman, Illinois Central. and Ten
nessee Coal the most conspicuous, but
their final changes are generally compare
lively small. Sugar IS down S1s, Northern
Pacific preferred rs. Pacific Mail "a,
Louisville and Nashville n, and North
American ~ per cent, with only frac-
tional changes in the rest of the active
stocks. Sales Of listed stock, 504, 900
shares; unlisted, $1,000.
THE STORIES ANEST NORTH AMERICAN.
New YORK. November l3-All sorts Of
stories were aAoat around Wall street in
regard 10 the affairs Of the North American
Company. 1t was reported that the COM
cure debts and that nothing remains for
the stockholders. The officials Of the COM
pany, in reply % questions, say that the
company is solvent. 10 is not denied that
the company Is solYeEt-that IS, that its
assets are equal 70 its liabilities -but the
reports affecting the stock are that tho
company will have so little left after its
debts are paid that II viii be impossible TO
continue It's existence. Accordingly tho
officers of the company this afternoon
issued the following statement:
AN OFFICIAL STATEMENT.
The reports rs 20 The condition Of the
North American Company are untOunded
and extremely unjust. The company has
no outstanding call obligations, and its
time-lOans. held by q comparatively few
persons or institutions OF great financial
strength, are Rbundantly secured by col
laterals which even at the panic prices pre-
yailing during the last few days could
have been sold for sum sufficient To pay
all Of its obligations and leave a large and
substantial surplus ~ the credit VI tue
company.
The company has also large amount Of
valuable assets in It's treasury which are
not pledged at all and is, and always has
been, perfectly solvent. Owing % the
feyerish and uncertain condition of the
market, IL was thought wise 10 call tho
creditors together in order 70 get their as
surances that the assets pledged as collat-
eral would not be sacrificed. These assu-
RANGES have been cheertully given and q
committee Of creditors has been appointed
10 cooperate with the officers OF the COM
pany in preventing any needless sacrifice
OF its securities. The creditors were called
together simply TO satisfy them OF the
sound condition of the company and TO
obtain their cooperation. The company
has made no assignment and intends TO
make none.
MONEY AND EXCHANGE.
Ereninq-Exchange quiet and steady
az 4sO1als6. Money closed at 9ai2 last
loan, 4 (; closing offered at 5; sub-Ireasury
"a 7s9 400 GoyernIneuts dull but steady !;
/ per cents. i22 417s. 1O4 bid State bonds
entirely neglected.
STOCK QUOTATIONS..
Alabama-Class A. to 5.... .l02x
Is, ...lUI
Georgia 7's, mortgage. ..';...';..;,-