The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1890-11-17
sTATEMENr OF THE SITUATION.
EFFECT on WALL STREET,
The brolsers Go Vida Reaction Sells In.
49, However s. .7-

- ~ ..
- However,
NEW ioRK, Nov. 1O-So much OF a
sensational character has been printed
about Wall street the last ten days that
tho statement that the financial com
munity was startled for the frat time
may seem surprising to many people.
Yet that is tho fact. There has been a
great deal Of suppressed excitement in
and sbout the Stock Exchange ever
since the election, and there have been
developments, notably the collapse OF
the North American Company, specu.
lative blind pool which dragged q stock
brokerage firm down with it, that have
served to make life in Wall street more
interesting than usual. l.,F:l.I.l 4
But when the news came from Lon.
don that the great commercial house of
Barlng Bros. L. Co. was embarrassed and
had been assisted by a syndicated formed
by the Bank OF England, a very large
proportion OF the people who deal in
stocks st experienced a decided shock.
The fact that the firm had been guaran.
teed Tor three years BY the syndicate re-.
lerred to, did not for the moment seem
to carry much weight. 81 =
- TEopLE WENT CRAZY.
10 tell the Truth, great many people
appeared to lose their heads for about
an hour, during which period they
played havoc with the prices OF stocks
Without being conscious OF it, Wall
street has been discountirs tho mis-.
fortunes OF Barring Bros. 4 Co. for two
months past, and more particularly dur.
ing the last week. The undertakings OF
the Barings in tho Argentine Republic
have been the talk OF tho financial
world ever eince they were made, and it
has been freely predicted, especially
since the collapse Of enterprise aud spec.
uiatlon in that part Of South America,
that al Of the large foreign houses, in.
Glud,ng the Batings, would have to pay
dearly for their South AMERICAN vent.
ures, ;,5G|!'s '5.',s !
49, CONDITION OF THE BARlNas.
The condition Of the firm is briefly
stated TO be rs follows: It's total liabili-
ties are estimated at el5.OOo,OOO or about
S75. .00U, 900, while the assets OF the tirm
at their present deprecated value, show
surplus OF G40OO,0lO or SEQ 100000.
The guarantee syndicate has subscribed
fund OF sll,0000OO or S55, 900 900.
The Bank of England subscribed e. ,0OO..
0cO and private bankers e4 900, 900. The
nrst news OF this important transaction
came to hand on Friday night, but def.
mite Information was not obtainable until
yesterday, when number Of private
cables were receiyedson Wall street and
others by the news sgenciea. Va
A PANIC sErs IN. r
g The streets second thought appeared
to be OF the agents Of the Barings in
this country, who are Kidder, Peabody
4 Co., Of this city and Boston. For the
frat time since the present heavy liqui-
dation set in market became pan
icky, but that condition did not last
long. Large buying orders came into
the market at q decline. The bears were
only too glad to take advantage OF Tie
spasm Of alarm to secure greater potit
than they had ever dreamed Of, and 10.
ward the close OF business the weekly
bank statement appeared, showing a
decided Improvement in the condition
Of the banks during the week.
The recovery ,wsa as rapid as the de-.
cline had been, aud probably if the
Stock Exchange had remained open'
until : o'clock the early Losses would
have been pretty much recovered. A:
few prices will suffice to show the OK.
traordinary fluctuations OF tho entire
list: Chicago. darlington & Quincy
dropped from 81 to so. and recovered to
81 at the close. Atchisou, in which Il
was assumed .hct the narings or their
agents here might have a large interest,
broke from e9 10 23t, and recovered to
PSI. ia a599 81 -