The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1890-11-13


tional bank, and member of the clearing
mouse committee. He says: "Our committee
is now In session signing certificates, but the
INDICATIONS are that the issue will be very
small probably not more than i've millions
against twenty-seven millions in 1884. There is
nothing in the situation so far as it affects as
sociated banks at all disturbing, and there is
not the slightest reason to anticipate any dis
tur6ance in the finances of this centre. Our
action yesterday in deciding to issue certifi-
Gates was merely precautionary We did not
asallclpate any disaster but believed it the part
OF wisdom TO forestal rather than to have to
meet It, We are entirely satisfied the situation
will improve
Vail street, II 80 ann circular was issued
last night to the stockholders of the North
American railroad to meet this morning to dis
cuss the situation. The meeting is now in ses-
sion-s There are rumors of the formation of a
German syndicate to protect Willard stocks.
Inc Bank of North America was creditor
al the clearing house to-day and the officials
state they are again in good shape A meeting
OF Inc directors is now in session.
llne STOCK market developed new strength
! after ii O'clock and while money was loaning at
70 interest pr.ceS rose materially, and while the
extreme feverlshneSs CT the first hour still con-
I'M linued better tone was noticed all over the
nst. Another advance in the latter portion of
Ihe nour sent North American to 209s, Northern
racine to 81 and preferred to 62, although these
prices were not held long. Among usually &C
1--WE STOCKS there was less animation, but the
improvement for the hour exceeded per cent
In many cases, st. Paul, Atchison, Burlington
ana some of the inactive specalties being most
| conspicuous Trusts were comparatively quiet.
AT noon the market is active and strong gen.
orally at the best prices of the morning The
decision of the New York clearing house to issue
certlhci IS to be used in the settlement of
balances, allayed apprehensions of bank panic
anu IN mat respect had beneficial effect in
helplng recovery.
Re ceivers White and Slocum, of the Sugar
trust, nave taken possession Of all the proper
ties and affairs Of the trust and have established
their headquarters at III Wall street
The meeting Of the North American railroad
company is over and the statement is authorized
these are strong financially and have agreed TO
see the company through, and that the assets of
The company are wholly intact.
wall street, p m.-The market under the
lnf1uence OF sales under the rule somewhat de-
clned from the best prices, lacking support
from the London market, but was quiet and
comparatively steady. The Bank OF North
America was heavy creditor at the clearing
house. The bank will pay over to the assignee
OF Decker. Howell & Co., a large sum as the diff
ference on sales of securities held by the bank
as collateral for loans and sold yesterday
The failure of WolcCtt created little sur
prise. The house, though good one had but
small interest in market sales under the rule
Tor Its account aggregated less than two thou
SAND shares distributed among all the active
speclaltles. Wolcott refuses to make a state
ment.
Wall Street, l: 80 p.m.-An stocks for account
OF Decker, Howell & Co., and c. NJ Whitney,
"Olo oolu uHuer Tue RUE DuJ llUul6 aUUeQJlOn
was pald TO the sales except by creditors OF the
nrn The fact that no more trouble developed
among the banks caused a steady return of con-
hdence and prices moved steadily upward A
powerful pool has been buying Northern Pa
cific, preferred, and SO far that stock has ad-
vanced per cent. The rest of the list ranges
from 10 above last nights close.
p. m.-The market is now at its best, and
the general list at the highest of the day. Ad-
vances on last nights prices ranged from to g.
Northern Pacific, preferred, total sales to this
hour amount to over 10000 shares. of which
$50 600 are Willard specialtieS. Money rules "A
per diem interest to the best quotation of the
day, 20 per cent,
Wall street, 2:l0 p. m.-Money is more plenti-
full. The market shows the effects of buying by
commission houses for long accounts, The
purchases were largely paid for and wi tend to
relieve the situation by the withdrawal Of these
stocks from the street The feeling IS that
speculation will rule feverish for few days I'M
til settlements between banks and suspended
firms have been adjusted, but it is believed the
element of danger has been withdrawn from the
market. Good buying orders are coming into
the street.
At 2:l5 the market is active and unsettled
generally at something under the best prices of
the day.
$50 p. m.-The critical period of the dav. the
delivery hour has passed without the an
nouncement of any additional failure The f.
nancial horizon is decidedly clearer Money is
down to D per cent. per aunum. and plentiful.
Wall street, 3 p.m.-Money has been string
ent, ranging from ) to per cent, with the last
loaa at 8. Stocks in the last hour were marked
by increased animation with the usual sharp
fluctuations and general rising tendency
although only in Sugar. which rose to 80, were
there any material advances Later, however,
grangerS became prominent and Rock Island
touched 20 and ST. Paul 1875. The market
closed active and strong at about the best
prices of the day.
Northern Pacific. preferred, is up per cent,
common, 24; Wheeling and Lake Erie, pre-
ferred. 4; common, ia: ST. Paul. $50: Burning
ton Quincy, 81; Sugar and Cleveland, Gin
cinnati. Chicago & St. Louis 81 !; Union Pacific,
39s; Atchison, 21s Rock Island 2gs Missouri
Union, Pa, others small amounts
Governments dull, weak for the fours