Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-07-12

THE nUsINEss WORLD.


Ntuch markell
LONDON, July i2.-Stocka Hat; con-
siderable excitement. Amouuan rail.
ToaJ securities declined J q 8 por cent,
tho latter being Chicago, MilwAu.
kvo anu ~. Paul. This weakness
Affected the whole market. IL Ia stated
that veral brokers nTe Ia critical
situation largely due 20 the basolcss
tumos tulrgruphed from New York
yesterday concerning tue sulndness Of
number OF large English houses,
concerning the Houndness OF which no
doubt IL entertained here. Bar silver
8S pence.
w. b. Moore, a stock broker has
failed.
Another failure was reported later,
that OF Frank Boyer, y stock broker.
The tone nj tue uu iil1isl close was
very unsettled. IL l. iuafei that older
brokers will fail tomorrow. American
railroad securities were exceedingly
depressed, tho principal declines bein n
st. Paul 10 %; Michigan southern ~;
Union Pacific 90; s nta Fe 9; san1a
Fe iucJme'b n4H u; Central Paci Tic
u. All other American railroad
securities fell Iol.
ENORMOUS DusINEss IN NEW YORK.
Nav York, July l2.-Slocks opened
with enormous business and weak
with losses Of from to per cent.
Chicago, Milwaukee anu ~. Paul and
sugar were the weakest, The excite.
meut ran high aud the street was
Hooded with unlavoTRble umurs.
The downward movement COM
hnued nitur tuv opening. Cotton oil
declined - 10 -; pfeirrrol, u o. 80;
general electric, 81 10 so; sugar, u t.
lO preferred, g. IS; lead prefer 4
10 Us; Union PAitlc, y 10 ll., 30.
Paul, TO bsa. RumOrs were cain
Put uiYat regarding the financial
staining Of leading capitalists ana
Prominent BiOauWgy trust company
was said 10 have sold "A block vi 10.
eufilies, chitiy Vanderbilt stocks aud
general electric. Other uniRvorablu
reports were started, but could be
traced 10 no authentic source. When
tWas found that the Tumors could not
10 verified, "A more hopeful feeling
developed, anu n sharp rally
ensueI. Northwestern Jumped 10
pr general electric to 90. ~. Paul TO
bBl, sugar 10 u At II O'Clock TIA o
market was quiv, and steadieT.
AtnOon money ON call was strin.
gent at 10 q 20. After II O'Clock
t,1eks weakened again declining 4 a ..
sugar ami general electric were poo.
minont IN the declines. Near midday
INC pressure let up some anu the
market became sleadier. At noon the
market WAS feveflsh.
Oue OF the chief items contributing
70 tbs excitement and weakness was
inc lumJr OF tho NandeTbills being
compelled to market lot OF his ssuuri.
uvs' Inquiry, however, developed the
Hct thst well known trader, Ia
no way connected with Vanderbilt, WIS
I1tctd TO throw over some 10000
thGtts Of high prlosd Vanuerbilts, anu
thu bears took advantage Of the iRct 10
pound the market. The general Opin-
lou Ia that there IL nothing In the stu.
alton 10 warrant yesterday snd tOday's
bfeabs. ON tho contrary, among The
banks anu Ia financial circles, a better
slate Of affairs Is reported.
lals afternoon call money fell 20 Go
ana stocks became calmer, assisted
ny the rumOr that four millions In
Eold were being taken for import to
london. AbJut O'Clock, however,
lheie was renewed selling ON large
scale; Burlington broke tDs ], st. Paul
70 III, Rock Island to Bls At 2;l5
Tue market was heavy.
Money active . TO 20 per cent; last
loan a,closing offered ats. Bar silyer7O.
mexican dollars 81. The selling
movement Of stocks, which sol Ia
hoout two O'Clock, soon exhausted
Iseli and a rally quickly followed.
dividend payers were IN better request
anu recovery Of 10 "a FOL.
ioWeu' The market lei. OF tOi,raby
nfm' Sterling exchange was easier AZ
tho close and rumOTs of gold imports
were again revived. Bankers are In.
ehued 10 believe that the steamers
leaving the European poinls last
Saturday for New YORK will have fair
snounis on board. The spree aud
IlaVe are now on way and have, 1t Il
aalu' Sl,OOO,0OO gold Tor local bankers.
SILVER.
NEW York, July l2,-Sllver Ia dull,
weak Ton thousand ounces were solo
a, IL. Commercial bar silver fell to 10;
MsKican dollars 10 90.
NAsHINGToS, July l2,-The Oilers
ii a. 4 ~