Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-07-27


eventful and exciting day for a long tune past
In Wall street and financial circles generally.
foundations vero on a more extensive seals
than at any previous time since the present
downward NOV ement set Ia, and tho result was
a decline OF simply appalling proportions
ISDiscRIAISATg SMILING MOyEhENr.
The intelligence that the Erie road had been
placed In tho hands OF receivers, although Dy
no means unexpected, wss shock 70 counocuco
and started An indiecriminato soilng move.
meut through the list. orders were received
from various quarters 10 sell. and many brokcrs
who could not report their customers IN tune
threw their stocks overheard rather thnh taAo
any further chances under the circumstances.
1hs great break Ia prices, however, cccurrel
when the announce .nent tbat II. !. Nicholas had
failed was made at tho Stock Exchange. his
brought the critical situation OF aralrs rigot
home to tho brokers, and II was not long before
the market driited into panicky condition.
The excitement was not "a great a. Ia elmer
the 1854 or 1873 panics, but the shrinKags IN
values was very rapid. and sales had TO be made
at practically any prices ihai happened 10 90
bid.
THE STREET NERVOUS.
The failure OF Nicholas 4 Co. followed up as
II was ry the suspension OF John y. Dnmont'
showed plainly thai the banks we're calling Ia
loans aud this knowledge made the street. ner-
yous. The rate for money jumped up 10 3-lb
per DION and interest, ard closed at 20 per cent.
per annum. The sales for the day reached tho
large total Of AGA, 600 shares. DiVidspd-payihs
shares and bonds and non-diVidend-paying
stocks suffered alike, and The depression reached
an acute stage. The exceptional break In hyans-
vile and Terrs Hsute trom l21 TO ~ Was dus
20 the fact that II. /. Nicholas was q director OF
the company and had borrowed considerable
amounts Of money Oh the stock.
OTHER BIO DECLINES,
The other big declines-ln Manhattan. IL 70
100; Delaware and Hudson, llA. To 1O2M |;
Oregon Navigation, IL, 70 ~ Lake Shore, 80,
80 a ~ AaAA 81 Q
nrst preferred. g, 10 40; General Electric, ~,
TO 40Ls: Jersey Central, 9, oSi; Lake Ere and
Western preferred, 7, 10 BIS; Pullman, d9i, to
14GA: Western Union, rs 70 67ls; wheeling
ferred, q. 70 As; Consolidated Gas q, 10 no
American COttGu-0il preferred, @, TO 50; North
west, 59s 70 SAG; Erie preferred, S.to 10 ;
sugar, D, to 81; the Preferred o]s, to tebs' and
Missouri Pacific 40. to I6)S
rug CLOSE FEvERIsH
Although lnal quotations showed a recovery
| OF 10 TO per cent. from the lowest, the market
LETT Oh teyerish and the feeling In stock circles
was unsettled. Tue railway and miscellaneous
bond market was heavy aud demorazed.
Forced sales aud the closing out OF loans ac-
count for the phenomenal break In prices.
MOSEY-EXcHANGK-Bo
Money on cali has been stringent, ranging
from 10 S-1o interest; last loan az 20. ana
closing offered at 20. Primo mercantile paper,
sal2 per cent.
s4.621sasES4J9; commercial bills, etSOs
S4S3
Government bonds weak. State bonds duh.
Railroad bonds denOralizot
sTocx QUOTATIONS.
Closing Bids Closing Btds
A.. I. Il ). r l2}saI3 Nash. y Chat s
Amerc'n Fob. 53a6O IT L.... ..... S0aD0
} Am. Tob. orr. SOlssS2i6 N. \. CentraL92lSa0I
: Bait. & ONO go. 5Oa3S y. J. Cen.ral. .S4ss5
/ Can Pac. ......0 0a0s n. & W. pref. .1eals
I Jhss a. Ohio. 1916 N'r'h'n Pac 1AaS1
/ Chi. Bur. & q. 70hat. DO prei'd. -. O'4a3.
I Chicago s ALl2OaI30 'Northwestan S5laasB
/ Cottor-Uu 24lka35 do. prerd. l33llaI35
DO. prof...........5l Pacific MaIL...... SAL
! Chicago Gas. 4O4aIe heading ....... l2a4aH
| last Tennessee. xRSs Htch Ter. oss1i
do. preferred .7al0 Rock Island. So. 5bal.
| Ede., ..........b54af 81 Paul. 41s2a9'
! do. prefd.... l1a2O 10. pTefd. 10alO2
! Gen. Electric ..42sEa3 Silver Cor. 7Ol9a7l
! H. Cen......... SOaS1 Sugar. Ref. GSah
| Del L&W.13OAsl3 do. profd.. .ds16adHli
/ Lake E. & W.Il1Ial3 Tennessee Coal q
| do pref. ....J1 l3aBO Iron $500. lOl3ali
Lake S......"lO7kaas do. prefd... ...0Oaoo
I Lou. q N...... ..fo1sat4 soller,,... ..
! Mem. & Char. lOHl2 Texas Pacific. ..3lsab
Birch. Gen.. S5a90 Union Pacinc. -. ldah
| Missouri Pacific. 71sal6 Wabash. ....... .5t4aB
Mobile Il Ono. Ilaij do preferred 0}lai0
| lWes'n UD..... ..673sa3l
STATE BONDS.
Ala, Glass A. l0Osl03 Tenn. new 49,. (a) 20
DO. lO3al00 Virginia 6s.. (bid) 50
| 10. C.. ...... Ofa0S Va. ex matured
| La. Consols.. .tbidl % coupons. .tDidl 50
| n. q. 4's...... .03nlO0 Va. cOnsols. did 90
! do. Gs.......ta)I23 United States 4s,
| & G. Browns. Doap0 regular. 10Os1O9h
/ Tenn. ODDS. ..tbidl 90 United states IS,
| Tenn. new settle coupons. IOOaIlO
| moot ga. ...(all00 L. ). ..fOldl OI
| Tenn. now settle
| ment b's.....(al 81