Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1893-05-11
Wall Street Panic.


& Co. announced their suspension
at 10 As O'Clock this morning.
S. V. Whites sheet went through
the Clearing House all rignt last
night, and his checks were certi-
fed. White says: THE terrific
drop in Cordage and Chicago Gas
makes it impossible for me to go
op."
BosToN, May 5-Francis Hen
shaw & Co., stock auctioneers,
have failed.
The appointment of receivers
Cor the National Cordage at late
hour last night was the occasion
for further break in preferred
stock this morning to IS. Yester-
day it closed at IT bid; common
opened 1921, 5000 shares changs
ing hands at this price. General
| Electric was another weak spot,
and in the first few moments OF
business this stock broke 5 points
to IS. The fact that certain peo-
pie have thought necessary to issue
a statement that the company is all
right is viewed with suspicion in
some quarters At 1915 a. m.
stock was selling at 50. Sugar
also was attacked and broke to 76,
while Chicago Gas dropped to 60.
Manhattan scld down 81 to -.
Considering the panic the
industrial group, in the general
list held fairly we'll.
The excitement on the Stock
| Exchange this morning is most in
tense, and prices are failing SO
rapidly that it is difficult matter
to keep track of them. The an
nouncement of the suspension os
| S. V. White tended to the general
demoralizat alton which seems to
have set in. American Sugar.
which opened at IS, had dropped
to So at II o'clock. Chicago gas
fell from "a to 65, General Elecs
trio from so to 66, National Cor
dage from 19 to 1S4, Whiskey
i Trust from 224 to 214, Lead from
| SO to %, United States Rubber
from IS to 40, Western Union
from SO to S14, and Manhattan
from 1875 to 12O.
i New YORK, May 5.-Noon.-
) The nervous tension in hnancia
circles shows no signs of relaxing
The failure of S. V. White caused
fresh outbreak of the selling
fever. Rarely if ever in the histor,
of the Stock Exchange were there
such wild fluctuations witnessed
One of the largest honses on tn,
street was said to be in trouble
and it's failure only matter of
few hours. While our own broker
: were in a dazed condition ant
: thro wing over their stocks regard
less Of price, foreign houses wer
quitely at work picking up the
dividend payers.
{ Their purchases were heav,
, enough to demoralize the foreigl
exchanges. and postal rates wer
reduced to 4S6 and 4.s9. Laden
berg, Thatman & Co. says: Lion
!, don is buying heavily of America
stocks. OF course there will be n
, gold shipments this week. None
is close ana Stock Exchange Dor
rowers are paying 11@12 pc
cent.
The alarm at the Stock Ex
change has abated since IL O'Clock
but fluctuations continue wide an,
, frequent When buying orders ap
, peared, prices jumped 2, 3 and
points at time, but any press ur
to sell was immediatly followed b
break. The absence OF futile
, failures have a -eassuring efec
and at noon the market was fir
r and advancing.
d 1915 p.m.-The failure of Ferri
J & Kimoall has just been a.,
] nounced on the Stock Exchang,
IL 55 p. m.-There has been
change for the better in the stoc
market in the last hour, and stead
ier tone characterized dealing
1.45 p. m.-The failure of "
L. Patton & Co.. is just announce
on tie Stock Exchange.