New-York tribune., 1895-12-22
BETTER FEELING IN STOCKS.
-uslNI
IMPROVEMENT LOOKED FOR IN THE
MARKET. - -


ExcBANcE-rwo MORE FAILuREs-LoNpoN
BUYS SOME SECURITIES MORE
,.f.- OPINIONS OF FINANCIERs
Whilesl slower prices were recorded for stocks
yesterday. the feeling among bankers brokers
and SPECTATORS was distinctly better. The pam
icky tone had departed from the market, ana II
seemed to be accepted that the worst was over.
When the gong sounded at II o'clock to stop
business on the Stock Exchange the brokers'
as at the close of operations the day before. set
I'D n cheer 1t was hearty and prolonged one
and expressed a sense Of relief and also be-
lief that the financial foundations. while shaken,
were still sound.
The expectation of exciting scenes in the specu-
Jative centre drew large crowds to the street
BY $50 o'clock in the morning half hour peiore
the beginning Of dealings, the galleries OF the
Stock Exchange we're so densely packed that II
was necessary TO station officers at both the wall
st. and the Broad-st entrances to keep PACK 'ne
rushing mass. Hundreds who were unable to gain
admittapce to the Exchange stood on the sioe-
walks, and pedestrians were compelled 10 take
70 the middle Of the streets.
The sightseers were rather disappointed IN
wba. they saw-not only those who were COM
PEELED to stand on the sidewalks. but also those
who came early enough to get places in the gal
leries Of the Exchsnge. There was nothlng e"-
pecially stirring in the Street brokers ois-
played more haste than usual in gong pack
and forth between their offices ana the En-
change, and there were more messengers thah
ordinarily fitting hither and thither and they
perhaps exhibited unaccustomed alacrity.
But that was about all.
The brokers' Offices were. Of course. busy
places but the curiosity ty-seekers did not invade
them and little could be seen Of the interiors
of them from the streets. as their windows are
almost invariably supplied with closely woven
wire netting which. while it admits light, shuts
out the view from the exterior
THE OPENING OF BUSINESS.
When the chairman Of the Exchange brought
down his gavel TO announce the opening OF busl-
ness the brokers sawed the air with their arms
and set up din Of voices which would have
drowned the noise of an eght-horse truck load
ed with steel beams. and there are few things
in the whole world that can outdo steel-beam-
loaded truck producer of noise.
The first sales of stocks were at prices from
one to nine points below the final figures of
Friday The nine-point loss was In National
Lead preferred. There an eght-point loss
in Consolidated Gas. There was a steady fall
in prices until II o'clock. when recovery took
Then there was another moderate relapse
Some of the principal net losses in prices were:
United States Cordage guaranteed. 1912; Illinois
Central. 81: Rock Island. I; Lake Erie and
Western preferred, Z; Louisville and New-Al-
bany preferred. 6ia: New-Jersey Central. 6l2;
Alton and Terre Haute. 6; Consolidated Gas,
6: National Lead 51a; Wheeling and Lake Erie
preferred 5ss; Chicago Gas 5A; Lake Shore, .;
Lackawanna. 4s4 Metropolitan Traction. Az;
American Cotton Oil preferred. 4: Pullman Pal-
ace Car, 4; United States Rubber preferred, 3la;
National Lead common. 3l2; ST. Paul. 3s; sugar
preferred 3; Iowa Central preferred, ); sugar
common, 2%; United States Leather preferred,
o%: Bay State Gas, 2ls; Whiskey, 21s; blg
Four" 2la; Southern Railway preferred, "a;
Omaha. 2, and Susquehanna and Western e
Bonds. as rule. were strong. and they gener-
ally closed considerably above the opening
prices The total sales Of stocks were ol4''oo
shares and the total sales Of bonds at their
face value were 81, 900. The transactions
were very heavy for two hours business Whhe
orders to sell were received from London at the
start they were soon succeeded by orders to
buy on a large scale. 1t was estimated that the
purchases for London account footed up not
far from 10000 shares.
s., . TWO FAILURES
Two failures wers announced on the En-
change. bu: they were not considered important
The notices of them were, read while the ad-
vance in values in progress, and the I'M
provement was not Interrupted. The first faii-
ure was that of Hatch Brothers. of No. 66
Broadway. The chairman sounded his gavei al
II o'clock to tell the brokers Of II. The second
failure was that of H. X. Burras e. Co. OF NO. II
Broad-st which was communicated 10 the
brokers at 1880 o'clock
The firm Of Hatch Brothers was composed of
William d. and Horace Hatch, and 1T was
formed September l5. 1892 The Board mem
ber' of the firm William ID. Hatch. VINO
ioned the Stock Exchange November a.. 1880.
The Hatch brothers are nephews OF A. > Hatch'
who was formerly president of the Stock Ex-
change. and whose firm, Fisk & Hatch' was
ca rried down in the panic Of 1884. Hatch Broth
ers made an assignment to j. G. r. Gardner
LAWYER. of No 66 Broadway. Their liabilities
were roughly calculated at 100000. FREDERICK
II Hatch made his headquarters in their Office,
but he was not involved in their affairs. Ihelr
suspension was due TO the shrinkage In values
The following transactis'i under the rule Tor
their account took place on the Exchange:
Bought-2oO Reading. Sold-SoO American TO-
bacco. 100 National Lead, 200 Atchison new pre-
ferred lo0 Leather peleIleN' bN''"' "'iN Wv
900 Atchison new As.
Howard h. Burras had conducted business
alone under the name of II. X. -Burras q Co
since January l. 1890. lie Joined the Stock Ex-
change December Il, 1876. so that his FAILURE
occurred exactly nineteen years from the day of
his admission as member of the Exchange.
He began In Wall Street a boy in 1869. He
was popular among the brokers' He named
his cashier Leonard G. Vail. as his assignee.
He said his failure due TO the refusal OF a
large operator for whom he did business to re-
spond to a call for margins. The estimate OF
his liabilities was 5000 900. The transactions on
the Exchange under the rule for his account
were: Bought 100 Manhattan 200 Western
Union 100 Whiskey, 300 st. Paul; sold 100 Chesa-
peake and Ohio. 100 Pacific Mail. 800 st. Paul
There were sold under the rule for the account
Of De Neufv.lle &, Co. of No. As Exchange Place,
who failed on Friday $1,000 Atchison new per