Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1895-12-20
PANIC AND BONDS.
,Ji WnhdraWals Cause Sensation
Inons Treasury Officials.
.,oruER MESSAGE 10 CONGRESS.
-, r,,,i,msut on the New York
stock Markst-severAl Fall
nres Announced.

- AMI London exchanges anu that
~. cold Withdrawals Tor export today
gsuId approximate si.OOO,OOO and
.,lblv more, created aonsallon
.o,y the treasury officials. About
.or A,.is.ant Secretary Curtis had a
-,sv,,s,ion with New York parties
-, the long distance telephone AMI
y, The conclusion hurriedly left the
l,o,nn.e1t for the White House,
-b,,s the cabinet was In session. He
r,,,bown INTO the Presidcnps roOm,
-,.,s by was Joined Immediately by
.,st.rv Carlisle. The substance Of
M Curlits Information vas
- belors tho Pgeaidont and
',bipet. what measures, u any, viii
h laksn at once by ths government
!, sllay tue pauioky situation 10 PROB
.nalic, but there seems no reasonable
g1sbl tbAt In case Of continued large
gGhlnwnia Of gold, even for another
gsst. the President will send n mes
90 10 Congress urging the gravity Of
~ ,liuatlon a. n reason for immediate
i.votablo action on the recommends
lsn already made that the secretary
N Tho tfsstuTy be authorized To Issue
- rate bonds 10 preserve the Integrity
Tins gold reserve. In the Rbsen &C Of
,,ompl legislation In this direction, II
Z, noi doubted that another bond issue
untsf the same authority az the pro.
f,llng onos will be- announced.
Already the gold reserve has reached
a point considerably below t7O,OOO,-
lOj.
WALL STREET WILDLY KXoirED,
NEw YORK, Dec. 2O.-The stock
marke, has been wildly excited today.
Inc bteakawAy came TO most people IN
tho Street ~ a total surprise, nothing
bsing In sight over night TO portend
any extraordinary developments.
ihu hnl quotetions received fer
American securities from Tendon pre-
tared bankers aud brokers for stormy
isy The prices recorded hhowsd de.
tIines extending 10 por cont and the
London market war reported decidedly
rgsed.
Zach successive cable indicated still
auef figures, and II was finally report.
a nat many 'Jobbsfs" on the Lon.
gnslook exchange had refused to Ac-
ttp orders.
ihe uniayorable nowa was coInol.
Cent with the preparations by the gold
dipping houses for Saturdays exports
~ Europe.
The sinister feature OF the day
vas an advance in the rates
W. call money to 10 por cent,
rnsclng on tho calling Of
.9anL Three failures were reported,
tuI only one, that Of 5. 4. Sands * Co.,
was Of financial Importance.
The railway and miscellaneous bond
mliksI was demoraliIed, the deo.inss
nnging up 10 10 per cent. II was
mmofed that single house had
aampsd IiOO,OOt Heading bonds on the
market.
The nul London cable rooeivsd
hers caused decided shock 10 the
earliest callers az the brokeTs' offices.
fiices Tor Americans were reported at
uihtf panicky figures, showing de.
rllnoa VI from / to per cent. Each
iuoceaiye cable exhibited further
.n'isaAnd together with the announce.
meat that Sa,ig9,0 900 gold VI tho So
NlVOO expected 10 20 out tomorrow
LAi been reported by throe nfmp, pre-
lifed The Street for n lively opening on
Zoe exchange. The local market
tAfltd In NJ temi.phuicky gait, the
l,elluea In few minuteA extending 10
Z ptf cent IN New JoTsey Central.
'le ueellhea In International sharea
l'i' e'peeially severe, ~. Paul giving
yy fai southern preferred ", Il. d
N'sil ~ x IL. u. pTeiut-sG l. Kansas
tll IsIas preferred Il how York
.'lual = per cent. Tho feceeolons la
Ws laduslflHl htooks Stls also note
'o.hy, chicago RRs loslnK Ati leather
FslttIed %.
Tue wgaEneaa OF the market both
mere anu In London was largely due In
sisiIu measure TO liquidation.
Ihsre were some further sharp de-
,'lnsa hleT 1910. Is. & .. aud Della
Ne Ahd Hudson lost o per cent zach.
'le DOWNWARD tendency soon came to
ualI anu rallies ensued In which the
...ailg stocks showed gains OF l TO /
w cent The gains, however, were
NV lohs maintained, Us q fresh delugo
Nnlng caused renewed depression,
,lan before the rally. ~. Paul at IL
.,evA was on TO 6ba. Trading was
~ uelNy anu large Blocks OF stock
ny uul0Aued Tor the foreign account
Ile market was Wild during the
' ',,l hour OF trading, with heavy
", geheTAlly, The decline extending
, ,.,.,os Of ., 7 aud 5 per cent were TO-
The iaiIurs of two Gsns UNA an.
o pncsd on tho e.ehangs