The Lamar register., 1893-05-13
|W YORK FAILURES
A. fluaRv IN WALL STREET
r.n.p.e OF the Cordags Company
Cause several Hrosing Firms
to suspend

,,,,ou dropped out Of everythin. on
800, on the 9th and the stock exchange
!. orpter OF Wild ~hiri from the open
The news OF the appointment of re-
for the National Coriase Company
,rored by the announcement that s V.
Z Go. had suspended. Later the fall
rerris & kimball was announced. aud
heel. Of this came the news of the sus-
!, of W. l.. Patton & Co. Excitement
u,ssse. aud prices fell 80 rapidly that Il
klu,o,l Impossible to keep track of them.
|. ne uor.t day Wall strces has seen in
r,s Of disaster The hopes induised Ia
~ anrrv uoaid run is conrs. we're pre-
re-
sock market opened amid great CT.
est and -i,h prices about the sane az
,s.ag oa the 9Th. IL was very soon sp-
thai many more stocks mus, be sold
s.r,Ilcss OF price. The determination
banks against certain stocks, aud e..
kry The iadutiriais, zs collateral fot
compelled their holders To throw them
oa-d. The slaughter Of the lnlusirisl-
4iul. and 1t wss very quickly seen that
ns,I he morv failures. No house largely
kr,,.sl in the.a stooks could be expected
-isiu solvent
excitement on the door OF the stock
Nv was intense aud the spectators ucrc
>, -ili a. the broker
so5a lhln-s Werr at fever heat and
tsf7oas tension In finzneiaI circles showed
! "a Of reisTinE. Atls;45 p N. the fAil-
Fcrr.s .e hsnb4l was announced.
70 followed the uess Of the Suspension
/. Paiton .x Co, and The brokers fairly
\ erzsy Ia their efforts 10 unload Rarely.
~. Ia The history Of the SIock Exchange
! ihefc such villa Illustrations ~itncsscd.
o, tAe largrsi houses on the street Wa
% bc IN trus4blc ard IT, failure oaly a
! sr o. hour. Several other failures uere
og-ecd during the afternoon
ui-ilue tn thasc who passed through the
+ Friday tr1nhic sni all TIC financial up
"a sac-. thrrc rrver hes been a tirnc
J. sock Exchange houses uerc 80 com
lsiy 8rnorAilEci a. sas the case Friday
,.faztloa re.oiEsl ilseli into matter o.
.ss fos practically any pyicr Ohtainabic
teaoruozs shrsuSs<r shoEs pisiGly hou
+ ths panic had hccctne
Ae drop In euaiatioGs oyrF night "a.
p 10 % p-o,nts. aad bad the prrssar,, 10
so1iinues. a .ho-t tine tonsrr. there I, lit
a1ati that o;kss house would have been
III 90 The VAL Asnsas. Lond1a turned
. heavy buyrr aad. accofd!as 70 oompc-
1atho-ite.. took upa-ris % 10000
'cs aad az tA- same tine investors who
, 10; pat n an appearances Ia Wall Street
Years back took r1lad sHlo4ats q botA
railroad aud Industrial .torls, The liy-
poser thu, slaisl,-I t1ru-i th~ tide. b1t
Eztl AasrrnH sugar bad d-J9pe1 -
.is. ihr PREF arred II. tcneral EIrc-ric -.
,z-rsa Colioa o1 ;. ChiczsD Gas IS
.oa IliEmiHatis- o. Manhattan Eievatri
= National Cosdase psctcset =, Nal.oall
4 :. preferred n
b. activity Ia tac mparr market aeceicr-
The strong E5ovemeat. bat laieT faHds b.
r drcidcsily easier. The foreign exchanges
i4fd sharply. thus fruorin. The poasihl-
u su,d rspoFtA, and nrns stlsa bad bccn
lrtes 70 b, In d.fllcuity pgiiri through
iy AL thi. rpmhinrd - create . uiucl
r. fosling asI the recovery Wa even more
4 ihzn the yrcvinus decline. All the
ss rnrnsloa-i nsiranezd materially.