Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1893-05-06
FINANCE AND TRADE.
Money 4a4O Per Cent-Governments Dull.
Stocks Excited and LOwer-FlOur Firm
aud TDcbanPad-Wheat Strong

Money 4a4O Per Cent-Governments Dull.
Stocks Excited and LOwer-FIOur Firm
and Unchanged-Wheae Strong.
NEW YORK, May 5.-Money on call
loaned from TO 40 per cent, last loan 4
per cent, closed offered at per cent.
Prime mercantile paper Gas per cent
Sterling exchange unsettled at 4o3a4oo1S.
GoyERNMENTs-DuI.
Fours Registered. ..........1l 2%
tours Coupons. .........: ....lIs13
Four--and-a-half Registered ......... 80
Pacific Skies Of '95. .lO5
STATEs-Dull.
s-Oemoralized; sales $780,
600.
SToCKs-The day was one Of exceptional
activity and intense excitement at the
Stock Exchange. The great slump in
prices during the last half hour of business
yesterday and the further break this morn
ing was explained by the failures of 5. V.
White, Ferris Il Kimball and W. l.. Pat
ton & Co. Large amounts Of stocks were
sold out for the account of these houses and
the avalanche of offerings created more
panicky condition of affairs than has been
experienced since the time of the Barring
panic. According to those who passed
through the Black Friday troubles and all
the financial upheavals since then there
has not been a time when Stock Exchange
houses were so completely demoralized as
was the case to-day. The situation resov-
ed itself into a matter of selling for prac-
tically any price obtainable. The enorm-
Gus shrinkage shows plainly how acute the
panic had become. The drop in quotations
over night was equal to 1a24 points
and had the pressure to sell
continued short time longer
- e ~
would have been forced to the wall. As
il was, London turned up as heavy
buyer and according to competent authori-
ties took upwards of 100000 shares and
at the same time home investors who have
not put in an appearance In Wall atreet
for years back took round amounts OF
both the railroad and industrial
stocks. The buying power thus
exhl 0ited turned the tide, but not until
American Sugar had dropped "a points,
the preferred II, General Electric 20,
American Cotton Oil S, Chicago Gas 1874,
Edison Illuminating 6H, Manhattan 1919,
National Cordage preferred 20, National
Lead z, preferred II, Omaha preferred q,
Wheeling and Lake Erie preferred Ga and
Big Four 90. The drop in other stocks
was l to points. The activity in the
money market accelerated the selling
came decidedly easier and for
eign exchange declined sharply,
thus removing the possibility Of gold ex-
ports, and firms which had been reported
to be in difficulty pulled through safely.
All this combined TO create much better
feeling and the recovery was even more
rapid than the previous decline. General
Electric sold up from IS 20 81, American
Sugar from SO to S11S, preferred from 6S to
so, American Cotton Oil from 80 TO 1914,
preferred from 6S TO 7455, Consolidated Gas
from 1l2 to 1l95S, Edison from lilo to ITO,
Lake Shore from 1913 to 12S, National
Coroage from 151$ to %, preferred from
- to 81; National Lead from % TO 80, pre-
ferred from 67 to 70: New Jersey Central
from 1O4 to 1903; United States Rubber
from SO to 46H, and Western Union from
SOL to S61(. During the last half hour a
few of the Iadustrials ran off sharply, but
the general list held well and the market
close steady in tone with more confident
feeling than has prevailed for several days
past. In number of instances final quo
tations were above those Of yesterday,
more particularly in the railway list. The
sales footed up NJ IN shares. Quotations
closed bid:
Atchison, 29s<; Adams Express, $50;
American Express, ia; Baltimore and
Ohio, 20; Canada Pacific. S1l4; Central
Pacific, &c; Chesapeake and Ohio, 2llS;
Chicago and Alton, 13S; Chicago, Burling-
ton and Quincy SOS; Delaware and Hud-
son 1921; Delaware, Lackawanna and
Western. l40Js; Denver and Rio Grande
preferred 80; Erie, 201S; do. preferred,
391f; Fort Wayne 152; Illinois Central,
9SL; Lake Shore, 1913; Michigan Central,
90; Missouri Pacific, Az; Norfolk and
Western preferred, 30I%; Northern Pacific,
Az; do preferred. 374; Northwestern
1851; do preferred 1885; New York Gen.
trail, lO415; Pacific Mail, lS%; Peoria,
Decatur and Evansville, 10; Pitts6urg,
1853; Pullman Palace 1871; Reading, 25B
Rock Island, ~; st. Louis and San Fran
cisco first preferred, =; St. Paul. 151S
do preferred, HIS; Tennessee Coal and
Iron, 20: Texas Pacific, ~: Union Pa
cific, S4sS; United States Express. So;
Western Union. ssh; Wheeling and Lake
Erie. -; do preferred, 40.
Mining Stocks-Cholor -; Crown Point,
90: Consolidated California and Virginia,
24O; Deadwood, -; Gould and Curry. 40;
Hale and Norcross, 90; Homestake, 1900:
Independence, =: Mexican, 100: North
Star, -; Ontario, 400; Opeir, 290; Ply
mouth, SO; Sierra Nevada, $50; Standard,
1870; Union Con-. 100; Yellow Jacket 80;
Iron Silver, 30; Quick Silver, 255; do pre-
Dbl