The sun. [volume] (New York [N.Y.]) 1833-1916, 1893-06-02

street. In the sense Of the banking eommunlt,
OF this city. are identical with those OF tn
whole country.
The decision OF the maneeement OF tn,
Plankinton Bank OF Milwaukee to go Int
LIQUIDATION has possibly Increased distrust Al
Chicago: but . more potent factor In unset
Ting confidence at that centre 10 doubtless
| cumulative evidence that the local boom
| begotten By tho Worlds Fair Ia certain ia
collapse. and that the Fair Itself has hardly
a show for financial success. In srite OF Its
| unparalleled attractions aud possible popu-
larty. The financial situation at Chicago de-
serves moro serious consideration than 1t has
generally received. Thoughtful nnanciers at
the East are beginning to realize that the pop
ular enthusiasm regarding the Columbian
Exposition which existed few weeks ago Is
liable to lie superseded by disappointment
and speculative markets are beginning to re-
feet this sober and serious view Of the case.
The most extensive trading to-day was In
st. Paul at net decline OF ! p cent. C b. and
Quincy and Rock Island. on moderate trans
actions. sustained net losses nearly as great
Tho more important net declines were In
General Electric. which lost nearly half OF
yesterdays advance. New York and New
England. Missouri Pacific. Sugar Rein
ing. Union Pacific. Northern Pacifc pre-
ferred. Western Union. Atchison. and Chi
cago Gas. There was no specific news
regarding any Of those. excert that 1t was
rumored that property OF the New England
Company might be attached. as It was few
months ago. to secure the payment OF coal
bill. 1t Is learned that this danger existed.
and that tho company succeeded In raising
$4,000. or about two-thirds OF the amount 1t
should have paid to-day on the account re-
ferred to. and thus STAYED off legal proceedings.
It is possible that some OF the selling to-day was
inspired by the announcement that Mr. Nc
Leod is not yet ready to retire from the Presi-
dency Of tho New England Company. for his
record as railroad manager 10 such that 1t
would seem to be only question OF time when
he will DO superseded By an officer OF the
court.
In the last hour prices yielded more easily
than at any time since the carly part OF last
month. The application for receiver for the
Domestic Sowing Machine Company. added to
less tangible evidences Of distrust. encouraged
tho bears to attack the entire list with un-
usual boldnesa The engagement OF Sl.OOO.-
900 gold for export on Saturday. and reports
that another million or two may be required
for shipment at tho end ofthe week. intensified
the feeling OF uneasiness. On the other hand. 1t
must be noted that discount at London Is
easier and ouotably lower. a circumstance
which will facilitate the renewal Of large
amount Of sterling loans which mature in the
near future. Besides. private advices from
London are Of q more hopeful feeling there.
This has probably been brought about by re-
ceipts OF specie from this side and pros
poets OF additional consignments. Other
developments are OF the
efforts OF certain stockholders OF the
and Cattle Feeding Company to pre-
vent the management from wrecking It abso-
lutely. OF large deposits OF Rich ond Terminal
liberal assents by security holders to the plan
for readjusting the indebtedness Of the Read
Ing Company.
It 10 also learned from Trustworthy fou les
that arrangemen ts were com. leted 20 day by
which the Norfolk and Wcr ern Railway Com
pany has funded its entire floatin. q bt. pro-
vided for the payment OF it's q u cent. de-
bsnture bonds. which mature at the nd Of the i
rear. and also secured ample working capital
As considerable apprehension has been felt
regarding the financial sffairs OF this
company. this news Is perhaps tho most
Important OF the day. In view OF the dis
trust which has been created by the
collapse OF two or three OF the Industrial COM
panies. tho securities OF which are actively
dealt In on the Stock Exchange. it seems per-
tinent to call attention to tho showing made
By tho Herring Hall Marvin Company for its
last fiscal year. summary Of which is printed
further on In this column. The closing OF the
stock market was weak at the lowest prices.
Final sales compare with those Of yesterday
A follows: