The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-05-06

advanced TO 40. causing stocks to weaken
again. Manhattan broke 10 126. CordaRe
and Electric TO ~, Sugar TO 70A.
At 1880 money had fallen TO l8(020 and BY
inRs OF funds by commission houses stocks
became comparatively calm. Up to two p.
IN. sales of listed stocks were 446. 600 shares.
unlisted 100000 shares. Stocks then were
somewhat fevsrish, but In some instances
above last nights closing.
Ferris d Kimball, whose failure was an
nounced al 1245 went down under load Of
industrials. No statement has yet been
made.
The following stocks were sold. pre-
sumably for account of 3. V. White: Two
Thousand one hunds cd American sugar. 700
Atchison, 300 CordaRe. 100 Lead, 100 Erie.
200 New York New England. fifty West
0rn Union.
Az three p. m. money was easy at four.
lnd0sttialG closed one-half TO fourteen
points lower. the latter for CordaRe pre-
ferred. Railroads closed one-half TO four
at the finish.
After the Rayel had fallen and the battle
was over for the. day. mon went away In
quieter spots and looked the situation over.
In we'll informed financial quarters the
feeling grew that the worst had been seen.
and that from this time on matters will
improve. On this theory. which mad to
in fact. certain houses whose names were
freely mentioned as being in trouble early
In the day pulled through all right. Num-
erous purchases. 1t was seen, had been
made right through the list. There had
been a revulsion in sentiment, and prices
had bonndod up almost "a rapidly as they
dropped early in the dav.
After scanning ths situation after the
close to-day. one of the governors of the
exchange, and member of one OF the
most conservative banking houses, said:
II do not care to have my name used. but
over now. When White failed the last
bubble was punctured and we reached bot
tom. We have already had u pretty sharp
rally and We shall probably have others.
with some slow liquidation. do not look
for any more failures. There may OF
course be some, but they will ts of the
small fry order. and will have no npprsoia-
BILE effoct on the market.
"There has been great deal of money
lost of course, in this great decline. but q
great deal has been in margins, which will
show on the exchange. Mnny members of
but they will be able to stand them. In my
! opinion the stock exchange is now bar
gain counter. Ii this was not bargain
day. then there never was one on the e1-
change"
The rum obtained at ono time that $.
V. White would be taken care Of by certain
of tho sugar maRnates. This. however,
could not be traced to any reliable source.
by common consent tho tuning of the
tide is credited to the exertions of Drexel.
Morgan Co., and the Vanderbilts. II ID
generally believed several important
houses. at the close of business. were con-
| fronted with what appeared to be inevita-
| BILE failure. Enormous losses In the last
week, utter Generalization of tho buying
power in the market and practical paraly-
sis of credit. promised a liquidation that,
unless stayed. would have swept them of
their feet.
OF necessity the names Of the houses
whose suspension was decided must re-.
main in confidential circles. Tho mean.
adopted may not to described. but they
were effectual. 1t is reported that Wm. K
Vanderbilt and Robert Gosleth placed
81. 100000 in the gap. Banks. where il wal
possible, gave tho utmost credit where l,
was needed. The tremendous in
fuence of Drexel, Morgan q Co
WAS at the service of the
street. Weak spots were strengthened and
troubles feared by the whole downtown
community tided over. White said to.
night he expected to be able to resunepay-
ments tomorrow. 1t is currently stated
that Havemeyers. the wealthy sugar men
put up money enough. $1,000. 600 it ia said.
to place White on his feet again.