Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1890-11-16

Bonds active ana lower.
Drnver, Texas and Fort Worth oertifi-
Gates, 81.
Fort Worth and Denver 5, 1902.
Atchison general mortgage 5, II
AtChisou incomes, 47sg.
Kansas and Texas 5, Az.
Kansas and Texas rs. 81.
Missouri, Kansas and Texas rs, AZ
Missouri, Kansas and Texas 2 IS, 81.
st. louis, Arkansas and Texas Is
So.
Teas Pacific J. d, S7l..
Texas and Pacific 2's. 81.
PHILADELPHIA STOCK MARKET.
PHILADELPHIA, PA, Nov. l5.-The
stock market here opened strong to-day
hut soon became weak and remained so
10 III" close, the closing quotation being
about the lowest of the day.
GALy-SroN UNAFFECTED.
Special to the Gazette.
GALVESTON, TEX. Nov. 15.-The news
OF the suspension Of the g:eGt banking
house OF Barring Bros. of London, this
morning produced considerable excite
ment in financial and cotton circles here.
1t was not unexpected aud the conoensus
Of oplHiou is that its effects upon this
market, il any, will be slight, rs Sal
vestou 8 acceptance against the ship
ments OF cotton are not large. Ball,
Hutchin i Co, correspondents OF Bar
ing Bros. state that the suspension OF
the firm win not effect them in the
slightest, as their business III the last
thirty days has been merely nominal. 1t
IL the prevalent belief that il the effects
OF the tuilUre can be held over until
next Tuesday such an adjustment will be
made "a will place the business of the
country on IL healthier ana sounder
basis than il has been for the past six
weeks, and psnic VIII be averted.
GOVERNMENTS, STOCKS AND BONDS.
NLw YORK, Nov. 1.-THE stock mar
kct to-day, Tor the Two hours session,
was the liveliest we have had since the
great slump OF December Is, 1886, and
fer the spRce of an hour or more there
existed - perfect panic among holders of
securities. especially railroad stocks
and thc declines established during that
II ne were greater than ever seen in the
same time. Tho only cause OF excite
meGt was the announcement from Lon
don that the great firm Of Barring Bros
had been forced TO seek assistance to
tide them over the present financial
Crieis and holders of stocks became
panic stricken over the news without re-
fleeing tina: the danger was really passed
when the BGuk of England and Roths-
chllds came 20 the scue. Early ad-
vices from London were reassuriug, and
the crisis is represented ns over there,
continuing the improvement began
ycsterday.
The first prices were generally frac-
tionGily higher then yesterdays figures
The announcement about Barring Bros.
was thrown ut the market immediately,
however, and the good feeling disap-
reared in au instant, and from the pros
prC,ive buyers ths whole room became
sellers nj best prices obtainable. The |
force of the decline may be gathered
from the fact that in the short space of |
one hour Lackawnnua dropped away 9ls |
per cent, Jersey Central -, Atchison |
- Pullman 90, Burlington "a and |
other leading stocks from > TO : per cent !
The drop, however, soon brought into !
market class of buyers who nre paying |
outright Tor their securities, ana the cur
rent soon turned by this support,
when the bears joined in buying TO realize |
profits accrued in the tremendous drop |
After the downward movement was |
checked the bank statement was issued, |
showing material gain in the surplus
reserve, and the growing strength OF the
banks leaves no further feeling OF appra-
hension among Wall street, and the
cheerful Impression Is that as soon as
London becomes really quiet there will
be no disturbing influence found here.
The rally which was obtained III the
last hour extended 10 per cent, aud
over in some OF the more pronounced
cases. but the improved movement was
insufficient 10 make up anything like
losses incurred. An extremely feverish
,r,,1 a5 f.,DFitrp- ,-,i;,r |
throughout. The close was very active
and strong for the moment, ~ material
Losses for the day.
Railroad bonds active, but showed
none Of the excitement or animation in
stocks.
Government bonds have been dull and
steady.
State bonds entirely neglected.
POSITIVE PAN;C.
Nrw YORK, Nov. IA positive
panic existei on the stock exchange this
morning, all options of the list being gf-
feCted. Stocks were thrown overheard
in the most reckless manner, and losses
IN the the first hours trading exceeded |
anything since the present decline began.
Losses range from to per cent, the
latter in LackawannG. Atchisou lost 8 ..
Nilluds were the lenst effected. At IL
o clock the market was extremely active |
and demoTalized ut the Lowest prices.
Private cables received here before the
opening of the stock exchange announce
ing the troubles of Barring Brothers,
stating that the Bank OF England, the
Rothschilds and other bankers, had |
taken up the accounts of Barring Bros.
amounting to fl5, 900 200, created
profound sensation. A conference of ]
brokers was at once held, and i: was de-
cioed 20 bid an advanced price at the
opening so to avert a sudden shock. As
n result. stocks opened at :, to per cent.
q bove last nights close, but the iiquids-
ton of the week 3 accounts soon set in at
full force and prices gave way rapidly in