Omaha daily bee., 1895-12-22
Trading ON sChnnpc Opened Very
MueIy nemprnItxnd-

opening VI business on the Stock exchange today
was even more ddmornlized than In the inltiaI
dealings Of yesterday. London cables showed
lower prices. but reported a better tone preva.
lent at that center. ni Nevertheless the foreign
houses continued to unload American securities
and the decline ~ values in the first quarter
per cent In Lead pteferrcd. Subsequently cord.
age reacted 10 per cent The decline Ia, tn
with a break Of ! pes cent. The other Wander.
bilt stocks also sagged sharply. The nurries then
tillins and Lead Improved ) per cent Cleveland
Cincinnati, Chicago & 81; Louis, Hurlington
Central, I per cent The market was feverisf
throughout the day. and prices nuctunted rap
nouncement of the failure Of two small stock
exchange firms served To intensity the unsettled
made for their account, Consolidated Gas broke
S5 per cent to 1856. rallied to l39. reacted TO 1856
final dealings there was considerable. pressure
against the grangcrs and eoaiers, which resulted
losses on the day ranging up to ioit per cent
in Cordage guaranteed. The total sales wert
Si4 sss shares. Including $4,000 in Sugar nnd
A week OF intense excitement in financial! cir
If ever. has the Stock exchange been con.
vulsed to such a degree and for So long a period
have quickly subsidized and the bottom has been
reached by rapid stages. but since the deliver,
on N Tuesday last Of the presidents MESSAGE on
Stock board has steadily Increased. Associated
press advices on Saturday declared the Roths.
child story to be a canard, and announced that
the London bankers had resolved to make no
withdrawals of American credits FOR the present,
As n result, declines made in the opening deal.
ings partly recovered and a steadier tone tenn.
porarily governed the share speculation. The i'm.
proved feeling was of brief duration and the
gains made were in many instances almost en-.
tirely wiped out, and the market closed decid.
The sales for the foreign account are esti.
mated at about 200, 900 shares. which breaks all
previous records. At the extreme low point on
saturday. the more important declines, compared
with the high prices prevailing. earlier in the
per cent; New Jersey Central, iiN per cent
Metropolitan Traction, 1874 per cent; Lead pre-.
ferred. ls,s per cent; Rock Island. 1871 per cent
Rubber preferred. is per cent; Pullman, i5N per
cent; ST, Paul, 15k per cent; Lake Shore. l47s
Nashville. Az per cent; Cleveland. Cincinnati.
Chicago 4 st. Louis. iiit per cent; Kansas &
d dssa'i ISL II PEP Per ce Sfn' Lake aa'f nris Z w Hed Gn'I p4s,
ferred. l3N per cent; Lead common, l3S per
Coal. i Hasf"T per c er9:I Rubibe sSt p]re per edni Tx I per esn e
Southern preferred. l2s per cent Distilling, l29s
PeS Cen CENTRAL sIS preferrcd, PEI is p Sene cent Maq Paeiie M hnd
ilA per cent; ct: Paul \ Omaha. 11is per cent;
DslaT var & s Hudson atn,. LIN per cent; N=9s,hwss,-
rsrred' Tx per pc sent; General Electric IFS per
Fuel and New York Central. 1oA per cent; III
n nSr Cent Ssntra Hsw 10 per gark cent msr; A At, preferred s5s
cent, and Tobacco; SIS per cent. The dealings
Of 2,253, 900 shares. The Generalization in prices
Of railway and miscellaneous mortgages which
the same influences that dominated the stock
market The dealings were unusually heavy
in the issues having a foreign market. The
trading for the European account was very
heavy. The aggrogateI sales were sl3. 5i3. 900.
The greatest declines OF the week are: Cordage
lst trust receipts, 10y per cent; Fulton Elevated
per cent; 'ks ( Texas a'I lsts' 6 $ per asS cent !' Atc n
justment As. ~ per cent; Atchison adjustment Is
,urst receipts, 9A per cent; Atchison adjustment
Pacific lists and Chesapeake & Ohio AIS. So per
cent; Southern 5s. $ per cent; Chicago & North
Colorado Midland lists trust receipts, wabasS
DDS and Texas Pacifd lists. { per cent; Texas
Gulf lists and oregon short Line 6s trust receipts,
So per cent; oregcn' Short Line consol IS trust
DDS. Rio Grande Western lists and Northern Pa
cific censols 5s. ga per cent; Northern Pacific
lateral trust Gs, 5a per cent; N~orthwestern de-
bsntures as of 1879, 2 Ger cent; LacIele Gas IS.
lists trust receiptsesaud Tennessee Coal lists.
birmingham division, 81 per cent; Savannah <
lists, Iron Mountain IS and Reading Is, 3 per cent;
Reading trust receipts. az per cent: Reading
) per cent: Reading third incomes, AZ per cent.
Government bonds ruled firm during the greater
gains. Toward the close. however, there was n
decided slump in values. in sympathy with the
ptlleldl " tCuTltltS. OWlnS 10 The
scare. New Is are down 2 per cent, IS u. per
cent. old As, registered, and old IS. registered
s5S, 900. which goes to show that the panic did
not extend to tho government bonds. Trading in
chases were made at an advance of 1 per cent
over the final sale Of the preceding week. Suisse
Transactions footed up ss4, 900. In today's bond
market the trading In bonds was unusually an
Of prices were sharply downward. and a sensa-
tional opening was made in Southern 5s. whica
ing. The bonds subsequently rallied to Ssls. and
closed at So. Other leading mortgages also ruled
values. of the speculative issues. Final prices,
however, We're considerably below yesterdays
close.
The New York Flnaneier this week says: The
extraordinary conditions which sent money up
on the New York Stock exchange Friday, are
not shown fully In the bank statement for the
traction OF 3.3ii, 800 in loans, a decrease of
81. 7+3. 100 In cash holdings and 50. 76i. 100 in de-
ducing the excess reserve by $780,. 700 in de-
New York banks. however, have now nearly
and their action in throwing immense amounts
II money at low rates on the market Friday.
vi when SnI !, seemed |, that m ths p psr,bn. of 1898 s WAS to
them to the lasting respect of the nation. Lead
Ing bankers here universally dsplore the vene-
the Financier says that nineteen out Of twenty
prominent bank officers interviewed think the
administration has made n serious mistake. The
total deposits of New York banks are now ST.
300. 800. or $50. 900, 900 less than the highest figure
reached during the year: loans are 50 1000. 00)
higher than the lowest point. With the pros
pect of a large gold loan next week. some of
the S67. 900. 600 in specie held by the banks will
probably be abs 1rbed by the treasury and the
money market Will, In all likelihood. record the
highest regular quotations OF the year. When
the war scare Gibbs. there ought to be an influx
Of foreign money In volumes enough to rapidly
lower rates.
The Evening Post says: The most violent H.
quotation and most serious declines during the
day came In securities not dealt in upon the
European markets. This outpour OF local hold
ings had a double origin, the arriva! OF selling
orders from our Of town customers TO whom the
panic spread since yesterday. and sales at any
sacrifice for local brokers at the verge of bank
the opening OF the Stock exchange, AMI moro
failures were announced than happened yesterday.
one CT these was a large and conservative Phil
ade.phia investment .houss. The buying In OF
shorts during the second hour WAS u natural re-
suit of the enormous profit ready to he realized
and the usual preference not to delay over a hol-
days uncertainties 1T had No other meaning.
and indeed In the laRt ten minutes began "A re-
newed and still more violent outpour Of standard
shares. suci as st. Paui. Rock Island and Bur
lington & Quincy. d 1.-THE closing therefore was
utterly denoraliZed. =" s9y
The following we've ute closing quotations en-
the leading stocks pf, fthe New York exchange
today; tsI All
ASans Rx L. 80: a ails} }en, q 4 / W u: ~
Alton. Il. II ..-.. az Oregon Imp. 80, 3
Express .,...31IQJdoreson Nav. $50. II
baltimore ohio.. 43bI0. s: L NJ. ~
Canada Pacific. 1R1JJPaeidc Mall. 80. 2lH
Canada Southern. n 43HdP. ID. & e. ......... .