New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-12-21
AMERICAN STOCKS FLAT.
RAILROAD SECURITIES DROP POINTS IN
LONDON.
NOT WAR. But GOLD PREMIUM. FEARED SAYS
THE PAIL MALL GAZETTE"-LARGE sPECO'
LATIONs FOR A FALL ARE BEING
ENTERED INTO a PANIC
IN MONTREAL

IN MONTREAL.
Jondon Dec 2o-The Stock Exchange market
onened unsettled American railroad stocks were
weak At 1890 p. the quotations on the o'ock
Exchange of American railway securities sho"eu
the following declines as compared with the closihs
prices last evening: Erie "a Erie seconds 2 Illinois
Central 4: ST Paul common. 3as; Newly ork central
30; Pennsylvania ~; Reading. Y: Louisville and
Nashville 2;'Atchison common, l. Canadian Pacific
and Mexican Central were also of ~
The quotations at the close showed further de.
clines, as compared with those prevailing at 12:3c
of a. in Erie In Erie second. in Illinois Central
3h In ST. Paul common. in New-York Central
"a. In Pennsylvania 3as in Louisville and Nashville
and 3. in Atchison common. Reading showed an ad-
vance of u, the closing quotation being $40, bu the
price before O'Clock was reported as W AS com
pared with the 1890 prices. Canadian Pacific was
off III. Mexican ordinary Il and Mexican Central
The Quotations were purely nominal. the market
being pancky and extremely fiat EnglisA consols
al the close were "a below yesterdays closing quota
tons for both money and the account
The Manchester market was nat to-day Therc
were few buyers. and business gave evidence Of
crumbling away.
WHAT THE PRESS SAY ON THE SLUMP.
In regard TO the panic in American railroad
stocks, The Pail Mall Gazette" says: ut isn't war
that is feared but premium on gold If the Amer
lean shipments continue"
"The Westminster Gazette" says: Not only arc
investors in railroad stocks selling, but large spec
ulations for fall being entered into. 1t is not
that expected. but the transactions are being
made through fear tina: the negotiations between
Great Britain and the United States will be pro-
tracted at the time the operator are bearing
In mind the currency position in the United States
and have no desire to hold railroads.
THE Globe" saws that the holders of American
railroad stocks here and the Continent SELL
ing indiscriminately, and in state of semi
ance will lead 10 financial panic In the United
States.
Liverpool, Dec. 20.-The stock market here to-day
panicky. The sales larger than for
stocks were offered in indiscriminate manner.
Canadian loans lost some ground.
In the cotton market futures fell three points, but
partially recovered later and closed firm.
John Inman, OF the Nsw-York Cotton Exchange,
te,egraphed a Liverpool firm that majority Of the
members OF the Exchange thought the message a
calamity. adding: Il think II almost criminal"
STAMPEDE IN MONTREAL
Montreal Dec. 2o.-The slump in the New-York
and London stock market to-day had a most dis
astrous effect on the Montreal stock market the
leading centre In Canada. The opening OF the New
York market was the signal for stampede to sell
stocks in sympathy. As consequence declines
were general and by noon Commercial Cable had
fallen points; Cas- 81: Rcheeu. 8; Toronto Rail-
way, 3i2: Montreal Street Railway, 211 and Canada
Pacific. .
In the afternoon a little better feeling prevailed
and the market closed slightly stronger.
Rudolph Forget. the leading stock broker ex-
over, so far as local stocks were concerned The
whole trouble to-day. he believed. caused by
Commercial Gable stock being sold by London
through Montreal.