Capital journal. (Salem, Or.) 1893-1895, 1895-12-20
New York and London Stock
Exchanges Wild.
AMERICAN SECURITIES DROPPING.
Baron ROthchild Says: "All /
Want Is Peace"

don cable received here caused q de-
clded shock to the earliest callers at the
brokers' Offices. Prices for Americans
were reported at rather panicky Gg-
ures, showing declines of to 8 per
cent, Each successive cable exhibited
further losses, and together with the
announcement that 80, 400, 900 gold of
q, 200, 600 expected to go tomorrow
had been reported by three firms, pre-
pared the street for lively opening OF
exchange.
The local market started In at O
semi-panicky gait. The declines In
international shares were especially
severe. The market was wild during
the second hours trading, with heavy
losses generally, the decline extending
TO eleven per cent In consolidated gas.
The failure OF two firms was announced
ON the exchange. AT midday cail
money ruled at 25 per cent with brisk
demand at that price. The market ut
Up. m. had sharp rally, and some
shares improved oyer per cent from
the lowest, despite the advance In
posted rates for the demand Of sterling
by q leading drawer TO 4901. AT this
time the rate for call loans Was 40.
At 8 p. m. money on call is now IS
cents.
IN LONDON.
LONDON, Dec. 20.-Soon after OPEN
ing there was marked depression on
stock exchange. Tue Evening stand
ard, referring to the depression this
afternoon said: "Declines were In
sympathy with further heavy fall In
America, which went down from $40
TO So, St. Paul leadina the way. Amer
loan bonds we're also freely offered,
and unless these ate taken mp for New
York the outlook Is gloomy. There
was an extreme depression on the
Manchester and Glasgow stock ex-
changes. Baron Rothchlld, after dis
cussing the situation, said to a repre-
sentative Of the Associated Press:
"From a business point Of view opin-
ions cannot differ. All want IL peace"
MORE BONDS TO ISSUE.
WAsHINGToN, Dee. 20.-News of tho
big slump In stocks on both New York
aud London exchanges, and that the
gold Withdrawals for export today
would approximate $4,OO0,O00. AID
possibly, more. has created sensation
among the treasury officials.
What measures, II any, will be
taken at once by the government to
Allay the panicky situation Ia problem
atical, Dut there seems ~ be no reason
able doubt that In case Of continued
large Withdrawals Of gold, even for
another week, the president will send
u message TO congress urging the
gravity OF the situation as a reason for
immediate favorable action on the
recommendation already made,
that the secretary Of the
treasury be authorized TO issue lower
rate bonds TO preserve the integrity OF
the gold reserve. In the absence of
prompt legislation in this direction, IL
ls not doubted another bond issue,
under the same authority as the pre-
ceding ones, will be announced. AL
ready the gold reserve has reached a
point considerably below SIC, 100000.
AT CHICAGO.
CHICAGO, Dec. 20,-The semi. panic
In Wall street was Z, affected here In the
grain market. Wheat lost a cent and
q half from last nights closing. There
was q slight rally OF few minutes be-
fore the close but flnal trading was
6s 4 q 4, practically the lowest quota
tions Of the day.
ANOTHER MESSAGE.
WAsHINaToN, Dec. 20, 4:40 p. m.-
The president has sent another message
TO congress, and IL Is being read In the
senate now.
THE MESSAGE.
WAsHINaToN, Dec. 20.-.-The mes
sage deals with the condition OF the
treasury and the general apprehension
existing, aud says only the real aud
sensible cure is complete change
In the financial scheme, Pending
that the executive branch Of the
government will not relax Its etforts,
nor abandon It's liberalization to use
every means within Its reach to main
tain bekTe the world the American
credit, nor will there be any hesitation
In exhibiting It's confidence In the
resources OF our country aud constant
patriotism Of our people. In
view, however, of the peculiar situation
now confronting US, have venCured
herein 10 express the earnest hope that
congress, In default of the inauguration
OF q better system Of finance, will not
take recess fromBits labors before II
has, by legislative enactment or declar-
alton. done something.