The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-12-21
CRAZY JOHN bull.
Fearful Crisis Being Brought
About in London by the Spite
Raid on American
Securities.
Bu Cable to the United Press.

LONDON, Dec. q, 1S95.-The Stock Ex-
change market opened panicy. American
hailroad stocks were demoralized, not
withstanding the fact that in the first
hours of the session the prices were bet
ter than they were at the close of the
market yesterday afternoon. The fuc-
tuations were rapid and sometimes vio-
lent. Many stocks were unsaleable. The
Stock Exchange brokers profess to be
wholly uncertain as to the outcome of
events and are very cautious.
At 1890 o'clock the quotations showed
the following declines, as compared with
yesterdays closing figures:-Canadian
Pacific, IA; Erie, "; Erie Seconds, q;
Illinois Central, 1; ordinary, /; st. Paul,
common. 8 Is; Reading, W; Mexican Cen
tral fours, 2; Louisville and Nashville,
3-8, and Atchison common, "; New
York Central was unchanged and Penn
sylvania showed an advance of l. The
quotations, however, were entirely nomi-
nal
At this hour OILS P. NJ the stock mar
ket is very unsettled. and the dealings
in American railroad securities are en-
tirely nominal
American securities recovered as the
day wore on, but they did not sustain
their recovery fully at the close. The
other markets closed better under the in
f1uence of an improvement in consols,
which movement is taken to indicate
that influential circles consider the po-
litical tenison better. Those looking be-
meath the surface apprehend that unless
the political situation improves there will
be a crisis in London worse than that
caused by the failure of the Barings,
not on account of the American railroad
shares, but on account of American rail-
road bonds, which are held not only by
private parties in England, but by many
insurance companies and similar institu-
tions. These bonds are already unsafe
able.
At the close the quotations as COM
pared with those of 1870 o'clock showed
declines of 1A in Canadian Pacific, as in
Erie, Il in Illinois Central, * in ST. Paul
common, u in Pennsylvania. 5s in Louis
vile and Nashville and II in Atchison
nary, III Reading, ", and Mexican Cen
trail fours. |, while New York Central
however, how like those at 1880 ociock, We're
only nominal. The movements in con-
sols during the day were slight.
Inc On1teQ PreSS mas ODCdlneO an eX-
preston of opinion from some of the
leading financie1s and stock operators of
the metropolis. some of which. the fol-
The head of the banking house of Al
bert Seligman Az Co., 8 Drapers Gar
dens. says s:."Business relations between
Virtually broken off. The people are
anxious, though scarcely amy of the
prominent firms entertain any idea that
war is likely to occur. The financial
situation now depends entirely upon
the political atmosphere. No financial
measures would be efsctIye gd until s, poIi oI
Cleveiand's financial plans might then
be introduced with effect An amendment
mands of Europe. though this would be
only a partial remedy; but it would be
evry effective if the consequence should
and cotton and the balance of trade
were turned in favor Of the States.
n6E ME y W = Mrgas MRygnss of Co. the Said dPihnking ha dg
Securities sec had been sold Yet. He ,ex.
been beensIn made M by specnlators and overloaded
4obbers, who were putting themselves
in position for action in the event Of
Mr.. Byrnes said he had no doubt that if
there should be any aggravated war
feeling the, sales would be considerable;
but, he added. the general public had
confdence. coa den he thought. depended greatly
upon Pres dent Cleveland fnancial
measures The measures suitable for or
binary times. he said. were impossible
Brown, Shipley & Co., merchants, of
cial prospect today was better in conse-
ouence Of the Frightening, of the politi-
;nr had time to assert itself Power
should be given to President Cleveland.
the representative of the firm thought.
to project the gold reserve.
The westminster Gazette" says that
President Cleveland's second special mes
sage to the Congress of the United States
GREATLY improves the situation. "The
f Presidents IS enemies.' the "Gazette''
says, Though stalwart for the applica-
ton of the Monroe doctrine, will not
scruple to attack his currency policy.
We hope that our government will seize
the occasion to make it clear that we