Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1890-11-13
The Markets in Wall Street are the
Most Unstable in Many
Years.
Excellent Stock Goes Way Down and
Trading Reaches Almost EnOr-
nous Figures.
Broker James Struthers Falls Dead
to the Floor Stricken with
ApOplexy.

New YORK, Nov. 10,-The alarming
cables from London and Paris predicting
disasters in the markets there this week
caused panicky feeling in the stock eX-
change. The opening prices were extreme
ly low. The declines since Saturday were
the largest ever seen over night, but losses
of fractional amounts were exceptions,
drops of from one to three and one-haIf
per cent. covering near Y the whole
active list. As soon as the signal for
beginning business was given no offers
were made, but every bid no matter at
what price, was at once filled. This sell
ing caused Manhattan Elevated to fall
from 100 to 80. Western Union fell 81
per cent Other stocks, with the exception
of Vanderbilts, fell from to per cent
Even after the opening losses, further
declines from l to per cent were scored.
Trading reached enormous figures, but
the whole bottom seemed to have dropped
entirely out of the market There came d
more quiet feeling toward the end of the
hour and some stocks actually recovered
q portion of the early loss. The market,
however, remained in an extremely fever
ish and unsettled condition and at II
o'clock, while it was less active, it was
less weak at or near the lowest prices for
most of the stocks on the list.
At II o'clock the pressure was removed
to a certain extent, but stock continued to
come upon the market and prices took a
downward direction. Changers, Wizards
and the New England were the chief suf-
ferers in the decline. The market dis
played no recuperative power, and at
noon when the business was arrested by
the death by apoplexy on the floor of the
exchange of James Strutthers, one of its
members, the market was active but weak
and generally at the lowest prices of the
morning.
Strutthers dead body lay Oh the fooor
surrounded b. brokers for some time.
Mr.. Strutthers had entered few minutes
before and was noticed to be acting in a
very singular manner. He staggered up
against one or two brokers and suddenly
fell forward on his face, dying in a few
minutes. Strutthers was seriously I'LL two
years ago and has not been himself
since. Friends had noticed recently that
he had not been looking well and the doctor
saiG the excitement of today undoubtedly
was too much for him. Struthers was So
years old and leaves wife and young
daughter. Sharp to the minute of 1890
exactly, after the half-hour recess had been
ammo lnced, the president again mounted
the rOstrum and made the official an
nouncement of the unfortunate broker S
death. He had hardly stepped down from
the platform before there was a rush
and a shout and business was once
more resumed on the floor. This scene, as
well as that when recess was announced,
was characteristic of the tremendous ex-
element pervading the market today
When the death was first announced,
scores of brokers, without waiting to
hear anything about it, rushed off in
mad haste to make the best use they
could of the time in making up their ac-
counts
WASHINGTON, Nov. 10. - Secretary
Windor, was kept fully advised of the
condition of the money market roday, but
did not feel called on to take any action in
the matter beyond the purchase of all the
silver bullion that was offered to the de-
partment. The director of the mint said
this wds done for the relief of
the market The available treas
ury cash balance will be used
principally in the redemption of the AZ
per cent loan. The secretary's offer of
October 9 to redeem this class of bonds on
presentation at par, with interest to ma
turity, Sept. |, 1891, and is still open.
Bonds az" coming in very slowly, how
ever, and the total redemption to date is
less than five million dollars.