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

trial securities since the first or the
present year, exhibits the Losses
sustained by the holders:
Highest Lowest De
in Is 5. Friday. cline
Americon Sugar Rig. o.13t4 81 72A
American Tobacco Co....12l 5S15 62H
Chicago Gas .........., 9I4 80 3t&
Distilling &Cattle Fdg. Co 6sas aA 4@
General Electric. -. ....-144 5o to4
National Cordage Co... 70 16H 54H
National Cordage co. prefl1S5 90 tSzs
National Lead Co....,..... 52S ESs 1ozs
United States Rubber Co. eos 81 Si%
Such a fearful slump of any line
Ct securities that involves scores OF
millions of values, could not but
drag all classes Of securities down
with it. The very strong Ya'ues
were reasonably well maintained,
and the weaker lines suffered IN
proportion as the public estimated
their bottom resources. Reading
securities. which had been knocked
down from sixty to seventy per
cent. BY wanton bankruptcy en-
forced By financial wreckers, stood
the late stor n better than any
Others. Its stock did not vary one
point even in the last Black Frs
day, but it was doubtless sustained
by the purchases made to enable
the new syndicate to pool a voting
trust.
New York, Philadelphia and
Baltimore Traction shares were
fulried by occasional dumps on the
market, but they speedily rallied
and none are offered save as nee
essity forces. The same is true Of
Chicago and United Gas. Lehigh
Valley was weakened by the pre-
vious Reading bankruptcy and
suffered some in the panic, but it
held it's own close to par during
the storm, and Pennsylvania had
ready purchasers for tle few shares
offered without material depression
in price. New York and New EDgs
land, in which there is now cons
siderable speculative dealing IN
this city, fell five points, but closed
on Saturday with the loss almost
wholly regained.
The Industrial securities bred
most of the business miasma that
disteu.pered the financial atmos-
phere, and they have been pros
trated beyond recovery. They have
rallied measurably from the more
than fifty per cent. loss they suss
tanned, and will, as a rule, COM
mand higher prices than r bid
tor them tosday; but they are alien
to the business interests of the
country; at war with the genius Of
our institutions; in disfavor with the
people, with Congress and with
the Executive, and they have OF
the merit of an honest basis OF
value to sustain them, The dog
crossing the stream with meat il
his mouth, saw the reflection of
his meat in the water and grabbed
for it, by which he lost both sub.
stance and shadow, and the organ
izers of the Indnstrials have imi-
tated the greed of the dog that was
without their intelligence to excnse
the folly
The fact that the panic has
brought many buyers from Eu-
rope is one of the hopeful signs OF
the times, Exchange las declined
gold shipments have been halted.
a1d If we could unload the silver
policy OF the government and thu,
free our national credit from dis
trust, We could confidently expec'
a steady tide OF prosperity The
people of the country are NOR,
generally solvent than they have
been at any time since the panic
that began in 1873; the prospect O.
bountiiul crops could not be more
promising, and even with newt
able tariff revision to infuse timid,
ity in industrial circles. there il
full average prosperity throughout
the land. The financial storm ii
over, and despite some depressing
conditions which confront business
there is every reason tor absolute
faith in the national credit that ii
the foundation Of all credit, ane
for general confidence in all legiti,
mate business channels ard in al
legitimate securities.
A