New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-16
MENACING EIEMENT REMOVED.
WALL STREET OPINION ON THE LONDON ACTION
SOME TALKS WITH BANKERS.

WALL STREET OPINION ON THE LONDON ACTION
SOME TALKS WITH BANKERS
The relations of Kidder Peabody Co.. as agents OF
the embarrassed London house. naturally took many
callers to their banking house at Wall and Broad sts
There were nquirers seeking to get some idea OF the
condition and prospects OF the foreign firm ana some
callers were suffering from the idea that the NcwYorR
house was involved in tho London complications. Many
persons seemed to ignore the point that it was not
failure which the morning news brought. but action
which prevented the possibility OF one. George u
Magoun, head OF the New-York firm. was too busy TO
receive personally a reporter Of The Tribune 10
response to inquiries carried through clerk he sent
back word that all that the firm had to say on the
subject given out in the news agency "snps."
Here is what the agencies published
Dow Jones & Co." Kidder. Peabody & Co.. who
are the agents here Of Barring Brothers Co.. LONDON
say they have private advices from London that
whatever trouble there may have been there has been
completely arranged. The trouble was doubtless
caused entirely by the depression in Argentine securi
ties. Our house is In wise Affected
Herman a Co." Messrs. Kidder. Peabody e. Co.
gay to us The troubles have doubtless been caused
entirely by the depression in Argentine securities and
we think that American securities will be for SALE
Our house is in no way Affected
The general comment OF influential bankers was
that the arrangement for preventing the failure In Lon
don had removed from the situation an element which
had caused apprehension all the week. IT was regarded
ss the clearing away Of menace to the financial
situation which could not fail to be of benefit But
It was difficult to get many Of the prominent bankers
TO talk freely for publication. The rcticenee Of Mr.
Masbun in one conspicuous instance led to retcence
by fellow banker. J. Pierpont Morgan. Of Drexel,
Morgan Co., said that 1t would be improper for him
to discuss the situation the proper place to seek In
formation was from Kdder Peabody Co. Mr.. MOT
raa added, however, his belief that the situation in
AnAsn had been improved apd secured by the action
- "a fllere
look here. At the Office Of Winsiow. LAnier Co
there tie utmost reticence regarding the financial
present declined absolutely to give any expression Of
opinion one way or another: .,r on.,.,,
attsndsase 10 ne lobby Of the brokers who usually
gather s in times Of - ee tssa as
But the principal reason Why the attendance Ugh
:n,s ,s The .ss sf sss mA' q r.
brokerage element ives well voiced BY James Whitley
u Prince d Whitley, who said The development o
he troubles Of Barring Brothers Co has been shock
and tho street hardly be expected to recover from
capital that after ali the best investments America
British cousins will be apt To- turn to America, AM
they win find market In which prices are remarkably
20 ss buyer The "hH local can situation m %
appears to have escaped dangers that were imminent
and ought to feel the effect Of the significant buyin
ys,ys president Of ,, The Sssshn mt
resented the views Of the banking community. IL
said last evening The Barring trouble has been hang
and in way that prevents disaster The New. Yer
banks sound, and feeling OF relief is now fel
j. Edward simmons. president Of the Fourth Ma
floral Bank. said last night that there was no tut
The %c tina; th ;sss w. ,staoD be "a meeting
s: h q ssseass Of he cssas House
Iisn sysaadns 4 TIE general situstaen In wal