The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1895-12-21
STOCK MARKET PANlCKY.
Nall Street Very Badly Excited
Over the Affair.
BONDS AND STOCKS ARE DEPRESSED
Tho Big slump la s-crrities Causes The
Failure - Three Firms.
Heavy bus,ness.


When a follow is in trouble some one is
bound to tell Tim at might be worse"
No such synlpa ;hizer could do the same
for Wall street today. If johnnie Bull
sent over his Iron pots and blew Sammy's
domains into smithereons he could not
produce sgch results as haNpcnpd here
today. 1t WAS the widest stampede pos
sible. Millions were lost in an hour, the
selling orders we're enormous and amid
the widest scenes they ripped the mar
ket to pieces. Five firms wen, under.
1t was a panic galore Call money rig"
to so per cent. London got the fright.
too, and they bounced our securities out
Of their market and they won't touch
them any more than they would n live
wire" Yet we say candidly 10 those
folks who have got money, when you
think securities have reached bottom
jump and buy. The reaction that will
come will bring such profits that Alad-
din's lamp will pale before It. The breaks
werc from to 10 points. sparlng nothing
in tho sweep.
The clearing house folks have shown
backbone. They don't think the situation
warrants their taking action to check
the cour:e OF the markets. Three mil
lion five hundred thousand dollars Of
the yellow has boen withdrawn FOR ship
meuts. It is said the shrinkase OF values
equnls $500, 100000 About 100000 shares
were soll on the Stock Exchange.
Bank conferences were going on all
day among the chiefs and their Gus
toners and tho screws appear to he put
on. English nnanciers are showing their
resentmen, TO our securities as expressed
by their steady sales. Eminent inlcrna-
tional bankers say the scare VIII be over
in few days. Among the stocks that
shrank and which London has always
dealt in. and which comparisons are made
/ today az with Monday, are; Atchison, To-
peka and Santa Fe, Monday, lG "a; to-
| day, II IL, shrlnkage slOo,oJO00o Den
yer and Rio Grande preferred. 20 Mon
day: 20 today; shrnkase, $685. 1000 Mis-
( souri, Kansas and Texas, Is SIS Monday;
90 day: shrinkage, si7Oooooo. Missouri.
Kansas ami Texas preferred. 20 Monday,
/ Is IA to-day: shrinkag' sS.ooool0. Wa
bash, Z rs Monday; today; shrinkage,
| 100000 Preferred, IS Is Monday; 10
today, shrlnkage, ,2',OCo,ooO.
At one time money on call rose from 3
to 60 per cent. Missouri Pacific declined
| from q "a TO % IA. During the last
hours trading the market rallied quite
| sharply under covering OF stocks and
| some buying FOR long accounts, and
! prices advanced from l-2 10 3. Banks
| loaned time money at per cent at tho
/ lowest point. Kansas and Texas pre-
/ fcrred was down TO 9ol0. silver advanced
/ to 6i rs MeAoans 81 IL. Tho sharp
! breaks in Kansas and Texas preferred
were due TO forced liqu dalton, supposed
| to he partly for the account Of S. Sands
& GO. Money on call closed nj 6.
! Supply of cotton bills moderate. Cot
ton proved to be bully boy ana It
/ ii MT get the rights a bit II showed
| backbone 1t had compa1auvely small
/ decline Most Of the traders believed
| that war between this country and
England would enhance the price Of cot
ton, and II we are going on silver
basis present figures would he doubled.
so they held on 10 their cotton and sup
rorted tho market throughout TIE fore
noon. The movement OF the crop WAS
| small and this fact. together with the
LIVERPOOL markets Showing STEADY nm
dertone, helped to stimulate IND en-
courage holders. The afternoon TIA ing
in cotton was active but tcverish aad IT.
REGULAR and uncertain and attended Wish
SHARP and frequent fluctuations In prices.
Opinion regarding our foreign relations
md financial aifairs hal considerable to
1 20 win the erratc charac'er OF ito
trading The uuaertone WAS week and
uncertain and reflected the we1hno - IN
Stock - ;lanae circles, Wall street
houses were the largest sellers OF coiton
| again today doubtless IN LIQUIDATION OF
long contracts to better protect their
stock Exchange business. The market
closed steady
NEW YORK STOCK MARKET.
New York peccnlber 20,-Tn general
Way The average Wall street hahitue was
prepared after the close Of business -
terdnv. for pIo' able depression In the
! lFaf today account of tie