The sun., 1893-07-27
,o,,ot.r,, r,. .,crIneed. owing to the ab.

collateral was sacrificed. owing to the ab-
sence OF IN established market for It.
naturally made the brokers exceedingly
thoughtful After the close OF business It was
learned that the other creditors Of the firm
referred to havc agreed to exercise forbear-
ance In the matter OF satisfying their claims
until more propitious times. Already. as will
be noted in tho news columns Of THE Sun. the
| status OF the stock In which Messrs II. l.
| Nicholas & Co. and their constituents are
most largely Interested has been improvod
| by the transfer OF Il block to an influential In
terest
! Tho day was devoid OF Incidents other than
the two failures reirrredtto and the phenome-
nal shrinkage in values. The Importance OF
this last was increased by the fact that 1t was
greatest In stocks OF recognized merit
I For example. Manhattan Railway on sales
OF 10000 shares closed IL points low
or than yesterday. Lake Shore on talos
of only 1000 shares lost IN points
Iackawannn WAS traded in to the extent OF
only 10000 ful shares yet at q decline OF
Z z cent. Tho Rreatest activity WAS In Chicago
Gas, which. at n recovery Of two points from the
lowest price. closed -. z cent. lower than yes
terday. Next to 1t in point o. activity came
Western Union. with net loss Of 5A 4 cent
Then Sugar Refining. with loss Of ~ = cent.
Oftho GrAugergr Northwest su ST ain ed the
greatest net loss. namely 3 & cent. The trans
actions in il were not large Rock Island left
OFF g.. cent lower and St Paul -. e cent.
General Electric sold n 4oii but recovered
nearly ! cent, making It's net loss 81 y
cent or the low priced stocks C.. C.. {. andSt.
Louis. DietillnC and Cattle Feeding. and Mis-
souri, Pacific were most conspicuous ut u not
declines OF 5',. =. and 3, e cent respectively.
The moro important declines in the bond
mark ct arc noted further on in this column.
Never before in the history ~ the Stock Tx
change have losses like these been recorded
on such a comparatively small volume OF busi-
ness Some OF tho worst days Wall street has
ever experienced have seon transactions foot
ing p over 900. 900 sharos. yet the net results
were nothing like those OF To-Day. On those
occasions the excitement OF the speculative
community has manifested itself in hundred
familiar ways; but as he's been the case ever
since the present decline set in. tho move
ment though uninterruptedly downward. has
not been attended with any outward manifes-
tntions Of tho terrible tension which exists.
The reason for this Is. perhaps. that tho liqui-
dalton Is by investors rather than SPECTATORS
1t is plain from tho large number OF frao-
tonal lots dealt In that the foreign buying OF
stock Is supplemented by very fair domest
absorption. This means that investors on a
small scale are furnishing part Of tho money
which larger holders are compelled for
chases of stocks to-day are estimated
at about 25.000 shares. Thoy were SUM-
ciently large to break the market for
sterling exchange to the lowest figures that
have been quoted in months. There was
practically no demand whatever for sterling |
to-day. Hence moderate offerings resulted in
sales OF sight drafts at the close at S4S2h. !
At this rate 1t is possible to import sovcrelgns |
at profit. Imports OF gold to-day from varl-
are reported in transit The Clearing |
House Loan Committee retired $780, |
900 loan certificates to-day and issued |
100000 Shipments OF currency to the ,
interior were unusually heavy. being est- |
natod At about Sl.5OO.OUO Shortly before the !
close OF bus ness tho rates for money declined. |
i nd the stock market ra llied. chiefly on cover |
ing OF shorts The predominant feeling at the
close was one of great relief that most pain
ful day was at an end.
Final snles compare with those Of yesterday
"a follows: