St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-12-22
OVER ITS FURRY
NEW YORK STOCK MARKET
OPENS ENCITED, BUT EASES
OFF.
EUROPE is BUYING AGAIN.
LEADING BANKERS HAVE NO AP-
PREHENSION OF THE FU-
TURE.
GUESSES AT GOLD ORDERS.
Some Estimates of This Weeks
Movement Very High-NO Fears
for Tomorrow.
EUROPE IS BUYING AGAIN,
GUEssEs AT GOLD ORDERS.

NEW YORK, Dec. 21.-Wall street,
especially in the immediate vicinity
of the stock. exchange, is ordinarily
on a Saturday afternoon one of the
least frequented and most quiet
streets in this city. Today, however,
almost until evening, crowds of peo-
pie thrOnged the neighboring streets
and groups of members of the eX-
change, members of the press and
curbstone brokers were gathered on
Wall, Broad and Nassau streets and
Exchange place, discussing the hap
peningS of the day. Considerable
satisfaction was expressed over the
news that buying orders had been
received from Europe by some of the
representative foreign houses for eX-
ecution on Monday, and it was pre-
dicted that foreign capitalists and
investors would speedily realize the
folly of sacrificing their American
securities. The general impression
was that the extreme tension had
been relaxed, and that, with reason
able leniency on the part of the
banks, quieting down would occur
on Monday. The point is made that,
considering the suddenness of the
break, the street has come out in
better shape than could have been
anticipated, as, with perhaps one
exception, none of the failures had
been of the first class.
The great question confronting the
financial committee early next week
will be that of the probable extent
of the Withdrawals of gold from the
subtreasury for shipment by the mid
week steamers. Estimates range as
high as S10,000,000 to $12,000,000, but
no definite information is obtainable.
Treasury officials were not surprised
at the size Of the estimates, but de-
clare that President Cleveland will
not hesitate to issue more bonds if
necessary to sustain the gold re-
serve. It was almost impossible to
obtain reliable exchange quotations,
but it was alleged that sixty bills
were practically unstable. For
eign bankers said that the immediate
course of events depended on the
amount of unsettled foreign credits
outstanding. This, of course, there
was no means of determining.
FEELING AMONG BANKERS.
. Bank presidents denied again in the
afternoon revived rumors for a call
for a meeting of presidents of the
clearing house committee, but said that
such meeting might be among the
possibilities next week. They will be
governed, like everyone else in Wall
street, by the developments of Monday
and Tuesday.
Joseph Seligman, of the firm of ]. &
W. Seligman & Co., said today: "Talk
of warts preposterous, but the financial
furry that followed the first idea Of
hostilities was natural. In my opinion
it will pass away as soon as we begin
to look at the situation sensibly and
intelligently. The break in the market
at the opening this morning was
natural, owing to the unfavorable re-
ports from abroad and the continued
pressure for sale of American securi-
ties on the London market and the
paincky feeling here. 1 think the worst
is over, however, and though there may
be temporary set-backs, 1 look for an
Improvement from this time on"
William Sherrer, manager of the New