New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-21

NE w OxSN
tails Of the changes are printed in the financial
columns.
The principal net declines in the more active
bends We're: Atchison second 3-4s 4: Atchison AZ.
"a; Chesapeake and Ohio general 419s, 614; Mis-
, souri,. Kansas and Texas DDS. IN; Reading gen.
eral As (receipts). q Reading first incomes. Al;
Southern Railway first IS. Az; Wabash first S.
2%.
The final quotations for stocks and bonds
for the most part below the final prices in Lon
don for the same securities. The last London
prices are received here at 1890 p. m.
THE EXCHANGE SITUATION
One-half cent was added TO the rate for ster
ling exchange which brought the demand rate
| up to 1891. At this figure there would be
good profit in shipping gold to London. 1t
expected that s., 900 900 at least would be taken
for shipment by the Campania. which sails to-
day. The actual consignments will be: L. Won
Hoffman & Co. $500 900; Lazard Freres. 81 .O0O.
600; Muller Schall Co. $500 900; total SO 900 900
The gold was obtained in bars from the As
say Office on orders from the Sub-Treasury
which were issued in exchange for greenbacks.
In addition. $500 900 in gold coin was drawn
from the Sub-Treasury by Muller, Schall e. Co
for transfer to South America. so that the total
loss of gold by the United States Treasury was
! SO. 400 600
The reason for the reduced shipments Of gold
was peculiar. The shippers pay for the gold in
greenbacks supplied by the banks where they
keep their accounts. Only bills of large denom-
nations are available. and ii was impossible
10 find an adequate amount of them Plenty of
greenbacks Of small denominations could be pro-
cured. but the counters in the Sub Treasury could
not go over them in time TO deliver the gold be-
fore the departure ofSthe Campania.
LIVELY STREET SCENES.
The scenes In Wall-st., Rroad-st.. Newest. Ex-
change Place and the other streets in the vicinity
OF the Stock Exchange presented an animated
spectacle all day long. with brokers hurrying
back and forth between their offices and the
Exchange and messengers darling hither and
thither with kilograms comparison slips and
stock certificates The great office buildings ana
banks were brilliantly lighted until far into the
evening and clerks to be seer hard at work
on their books whereas usually the nnanclai sec
lion is enstrouded in darkness as soon as night
sets in.
There was certainly better feeling in Wall
Street after the close of the Exchange than there
was before the opening 1t the belief that.
If the Street could endure the enforced liquida-
ton that had been witnessed with no worse ell
fects than had been experienced. II was on a
pretty sound basis al whole. 1t was thought
that spectators would 81 eedy get over their
alarm and buy back the stocks they had thrown
on the market at so great sacrihce
The co-partnershir " Nichols, FrothlngnaH
& Co was formed March 2 1891. but since the
death Of the senio, partner year ago the ousI
ham alone. He had beer slowly closing up his
affairs He bad belonged &c the Stock EXchang.
since January 25 1877. He advised by his
lawyer. Nelson J. Waterbury TO make an assign.
ment for the protection of his creditors. and
named Clinton Z. Sweet. of Mr. Waterways Of
| fee as his assignee Will Mr.. rockingham
would not state the figures IL was reported in
the Stock Exchange that his liabilities were
about 500 600 Transactions under the rule
for his account on the Exchange were: Sold: 100
Missouri Pacific, zoe Rock Island. Bought: 100
Rock Island.
The firm OF S S. Sands Co. originally es
tablshed by Samuel K. Sands In 1850. He
died three years ago anu his son. Charles f.
| Sands. continued the business, with Joseph 5.
| Bond as partner Mr.. Bond the represent
| alive on the Stock Exchange. which he Joined
May g. 1893. The firm made an assignment: to
Mark Cox. Of Robert Winthrop & Co.. brokers at
No. Broad-st.. without preferences The la
| bities were estimated a. s25O.O00 The members
Of the firm also made individual assignments 20
| Mr. Cox The elder Mr.. Sands broker for
the second John Jacob Aston Charles b Sands
is well known as a polo player and crOss-cOun-
| try rider. Mr.. Bond said President Cleveland
was responsible for the failure Of his firm. Be-
fore the issuance OF TIE message conditions, he
| said were favora bic TO advance In stocks and
! an inpro- errent In general business Things
were brought to standstil ty the message and
England began TO sell American stocks, with the
result OF drop In prices.
Tran ,actons under the rule on the Stock Ex-
| change for account of the firm We're: Sold
| 500 St Paul. 100 Baltimore and Ohio. 400 Louis
Vile and Nashville Bonds sold-s1o.OO0 Colo
rado Midland As slO,ooOOoo Missouri. Kansas
| and Texas seconds.
De Neuf.ie & Co had been in business as
firm since 1886. There were two partners,
| Julius j. De Neufvile. who joined the Stock
| Exchange March "a. 1879, and August DE- Neuf-
| VILE who Joined March 3. 1887. The firm made
| an assignment TO Philip Fluhr. its cashier.
| J. j. De Neufville said the failure was cause
by the drop in stock prices following the
| Presidents message. and by the neglect OF Gus,
toners to respond to call for margins. He saiG
the firm would probably resume 1t was be-
lieved that the liabilities were in the neighoor-
hood of 100000.
| transactions under the rule on the Stock
| Exchange for account Of the firm We're: Sold
| Four hundred Louisville and Nashville ooo
| Leather preferred. 200 Wabash preferred. 200
100 Cotton Oil. 100 Denver and Rio Grande, 100
| Chicago Gas Bonds sold-s10,O0o Missouri,
| Kansas and Texas seconds, $4,000 Atchison ne"
| As Bought-Two hundred Whiskey.
The suspensions on the Consolidated Ex-
change amounted 10 little. Leo a. Feldinan
| had Exactly balanced his trades in stocks. and
| had a difference Of only slSl on the clearing
| house sheet. He has belonged TO the Exchange
since October %. 1894 Benjamin Fenton was
! long Of 500 shares Of stock. including st Paul,
Reading Missouri Pacific. Western Union. Su-
| gar and Leather. He was short on his shee;
| $3.50 He has belonged 10 the Excharge since
| April Z 1894 Mr.. Feldman and Mr.. Fentpn are
| both what are known as room traders. Mr..
Fenton said ne was going TO pay up and return
| to Buffalo. where he is property-owne7.
MR. BENEDICT'S VIEW.
y G Benedict a banker and broker at No. %
| Rroad-s. who is known as President Cleve-
| lands closest personal friend. said:
| THE present state of affairs In Wall Street
| IL very serious and unfortunate. but ii Is some
| thing which could hardly be avoided. Neces
| stiles arise sometimes. Henry Ward Beecher
used to say that If 10000 people were in a field
! and somebody yelled Fire some OF the people
! would be trampled 1t is to he regretted
| that English investors in American securities
| are showing timidity As for the President. he
| Is usually sound and he has not departed from
| his habit in the Venezuelan matter"
| James r Keene one OF the leading operators
| IN the stock market said: