Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-12
FRENZIED!
Excitement on Wall Street Yes
terday Beyond Description.
StrockS Continued Their Downward
Career, and Many Prominent BrOk-
ers Forced to the Wall.
A Panic Averted In London by the Bank OF
France Coming to the Relief 0. The
Bank of England
Tho New York Clearing House Decides to
Issue Clearing House Certificates to
Relieve the Money Market.
CLEARING HOUSE CERTIFICATES.

CLEARING HOUSE CERTIFICATES.
| Special to the Gazette.
NEW YORK, Nov. 1.-THE clearing
house committee met after the close
of the stock market this afternoon and
decided to issue clearing house certifi-
| Gates for the relief of the money market.
The certificates will be ready for the
opening of business tomorrow. The
above announcement will bring joy to
the hearts of thousands of men in the
city tonight.
Wall street this step on the part of the
clearing house will relieve the tension OF
the money market and put stop TO the
downward tread of the stock market.
To-day will be day which will
be historical in Wall street. 1t is
to be classed in the same category
with the black Friday panic Of 1873 or
1854, but it was u day which will never
be- forgotten by those who were on the
street.
Excitement on the stock exchange all
dav was terrific, and the streets in the
vicinity of the exchange were filled with
pale and anxious brokers from 10 o. CLOCK
until after the gong sounded for the clos g
of the stock exchange.
Three failures of stock houses were
announced. One of these houses was
one of the oldest and most prominent on
the street.
were rumors that other houses were also
lie hnir fai Nm
not officially announced.
Declines IN stock ranged all the way
up to 2415 per cent. with an average
net decline of about per cent.
Money rates were very high all day,
closing ~ per cent. per day aud in
terest.
Gables from London received on Wall
street this morning announce that the
Bank OF France has come to the rescue
of the Bank of England, and that its di-
rectors will send e.. 900, 600 in gold to
replenish London's diminished stocks.
This action of the Bank of France was
the only thing which could avert panic
in London, the effects of which would
have been very disastrous here. As
soon as the news reached London a
great change in the popular feeling
took place. Prices of stock advanced
very sharply, and cable quotations for
Americans received here this morning
showed advances of about 2 per cent.
This was Contago day in London, the
FIRST day of the bi-weeklyI settlement
proceeds. Accounts seemed to have been
well arranged. Rates for the continual
ton of loans were much lower. One
failure of n small house was reported.
Gold ut Buenos Ayres closed at 15l b per
cent. premium.
The New York stock and exchange
opened very excitedly this morning.
Prices were very strong in consequence
of the good news from London. An at
tack was made upon the Northern Pacific
stocks and North American stocks were
In accordance with plan which
was whispered about up town last night.
1t was thouLht then that prominent
house largely interested in these shares
could be made to liquidate.
All prices of stock fell off, and it
looked for few minutes as though the
good news from London had failed to
produce any permanent effect, but soou
under pronounced buying of Union Pa
citic, the whole list advanced very
sharply again.
Money opened comparatively easy.
Early rates ranged arour d 20 per cent,
but they soon advanced to Is per cent.
per day and interest.
A drive at the Wizards was made dur
Ing the noon hour. Northern Pacific
preferred declined 81 per cent. from
yesterdsy's closing, the3 common 81
points, and North American so points.
The selling of Toledo, Ann Arbor and
North Michigan stocks under the rule for
the account of C. NJ. Whitney & Co.
caused drop of Is per cent. Sales up
to noon aggregated the enormous amount
of 1876 800 sharee.
Money rates advanced to d per oent.,
and interest later and stocks fell off.
The market closed very weak.
The important net changes were: Ad-
II, Cleveland, Column
bus, Cincinnati and St. Louis "a; Cana
dian Pacific q; Chesapeake and Ohio IA;
Chesapeake and Ohio 2's preferred /;
Burlington and Quincy a; st. Paul l3s;
st. Paul preferred IS; Delaware and
Hudson TX; Lackawanna n; Erie 2;
Illinois Central "a; Louisville and Nash
Vile ~; Michigan Central l.; Missouri
Pacific q; New York Central "a; New
X; Reading i; sugar trust ~;
Union Pacific ~.
Declined chesapeake and Ohio rs,
preferred. 2; Rock Island. n; Chicago
and East Illinois, l; Colorado Coal, IN; |
Hooking Coal and Iron, ~; Great |
Northern. preferred. s; Edison Gas and
24H; Lake Ere and Western,
preferred, so; Manhattan. l; Milwau-
kee. Lake Shore and Wabash. preferred,
~; Jersey Central, u; North Ameri- !
eau. s5ss; Northern Pacific, 81; North
eru Pacific, preferred. 113s; Pullman
Pala q, Richmond Terminus. preferred, |
}; Manitoba. 80; Toledo. 7; Ann Arbor.
l6z; Tennesse Coal. 3; Western Onion,
~; Wheeling and Lake Erie, Ia;
v heeling and Lake Erie, preferred, 5;
Wisconsin Central. ~.
THE OPENING At NEW FORK.
GxE FoRK, 1880 q. m, Nov. ILL.,
nook market opened 2 per cent
,iRhsr, following the lead Of London.
At 1915 the market became weak and
70 large business prices steadily declined.
= 1880 . strong tone prevailed and /