The Indianapolis journal., 1895-12-21
WALL-STREET PANIC
WILD TIME IN THE MARKET FOR
STOCKS AND BONDS YESTERDAY.
Money on Call mt One Time Jumped ia
so Per Cent, Closing mt so Per
Cent.-LocaI business.

At New York yesterday money on call
ranged from to 50 per cent. last loan be-
ing made at 80; closing at so bid.
Prime mercantile paper. 4lz@519 per cent.
Sterling exchange was firm. with actual
business In bankers bills at Ass4Giss1z
for demand and s4-s7AG4.Ss for sixty days:
posted rates. slsS14G4.s9 and s4.90l9Q4. 4.9l12;
commercial bills. si.S.
Silver certificates s61zGs7c; bar silver,
6szc; Mexican dollars. 52ac. At London
bar silver was 80 s-16d per ounce.
Total sales of stocks were .7s7. All shares.
including the following: American Sugar,
lls.4O0; American Tobacco. 1920; Atchison,
81 400; Burlington, 1850; Chesapeake &
Ohio. $780, Chicago Gas, $500; Delaware &
Hudson, 1000; Denver & Rio Grande pre-
ferred. 500; Distilling. 2s.100; General
Electric, 7,i00 Kansas & Texas preferred,
97oo: Louisville & Nashville. 19,1Oo; Louis
VILE. New Albany & Chicago. 3.1o0; Man
haitian Consolidated. 1900; Missouri Pacific.
1870; National Lead Consolidated. 400;
New Jersey Central. 400; New York Cen
tral. 500; North American Consolidated, A.
100; Northwestern, 12.eo0;' Pacific Mail, c.
100: Reading. $500; Rock Island. 1890; st.
Paul, $500: Silver certificates. 10000; South
ern railroad. 5000; Southern railroad pre-
ferred. II. 800; Tennessee Coal and Iron. 49,.
Cordage. 1880; United States Leather, 1900;
Uritea States Leather preferred, 26.7OO;
Wabash preferred. 1900; Western Union.
-24.eo.
In a general way the average Wall-street
habitue was prepared, after the close OF
business Thursday, for probable depression
IN the stock market yesterday on account
or the Venezuelan message episode and
the renewed heavy outward movement of
gold The actual developments Of the day
accordingly caused a sensation In fnan-
cial circles that has not been equaled since
tie Barring panic; in fact, in some partic-
ulars, that gloomy event was overshadowed
In point of interest. The rirst shock came
In the shape ox a panicky market in Amer
fcan securities in London, With declines
extending to per cent. British consols
porsed great excitement at that center and
Wholesale liquidation of the international
the opening at New York 1t was definitely
stated by gold shipping houses that 81
10000 OF the $5.oO0,O00 that was expected TO
60 out to-day would be arranged for at
once. The combined influence of the de-
velopments noted was reflected in a wild
opening In the New York stock and bond
market Trading was very heavy from the
Cutset, and in the initial dealings breaks
Cured. extending to AZ per cent. in st.
Paul. After 4 nomentt-y recovery of / tc
IA per cent. a fresh outpouftng OF stocks
occurred which, in the case of the Lon
don selling. reflected chiefly liquidation by
and left Stop orders were caught in large
numbers anG this, OF course. accelerated the
downward movement. Slight rallies occurred
several times during the forenoon. but the
continued selling pressure swept them away.
The lowest prices. extending TO 1914 per
noon Rubber preferred dropped 17st per
cent: Other extfeme declines were in Con
s2dsted Psn ga Sss, Rhber M hsris0le Nasavs a and
Electric. 9A: New Jersey Central and ri.
Paul & Omaha. 3: susquehanna & Western
Preferred Ss; Sugar and Manhattan, 81:
Tennessee Coal and Laclede Gas. sh; Lake
Shore and Lead common, and Lake Erie &
Western. s; Michigan Central. Northwest.
Missouri Pacific and Burlington, ia; Chicago
Gas. IA; Delaware & Hudson and Pullman.
! per cent A great many declines, material,
Cured In other stocks. Incidental to the fail
tires OF > > Sahder & Co, Nicholas Froth-
s mgnam q Go: an and De Neefville & Co, which
the rule were made. The volume of business
vas vas on on tremendous scale. The. dealings in
and IN the first hour 24s. .1S5 shares.
Trading In bonds was also on an almost
correspon dinghy large scale and the losses
ranged up to Is per cent in Wisconsin Cen
trail first trust receipts. The unfavoraole
general conditions affecting the speculation
IN the cell money market The first figase
quoted was 6 per cent. and by 1880 O'Clock
M ana sS 3 Rsr sent aafg I
ures. The sterling exchange market also
ruled sirm and higher. actual rates for de-
while several leading firms advanced posted
quotations for sight bills 10 A9Oik. Toward
O'Clock the selling pressure abated and a
sharp rally In prices was followed by a re-
action. I'm which a large part of the improve
ment was lost, on jump In call money to
30 per cent, the highest figures OF the day
A break TO per cent. stimulated liberal
buying In the last hour. causing recoveries
from the extreme low points ranging up to
IL per cent. In Lead preferred and I'm the
more active shares up 10 per cent. In Man.
haitian Near the close mone'- again stiffened
20 50 per cent. and closed at that figure This
fact caused recessions from the improve
ments noted and contributed TO an irregular
closing. The market left on unsettled at net
declines. extending to Sis per cent. in ST
Paul. The aggregate sales were az, ,276
shares. including uS.700 in Sugar and l0o. 500
IN ST. Paul
The railway and miscellaneous bond mar
ket was In an demoralized condition as the
share market. and heavy blocks OF bonds
were thrown over on lilu.dating orders The
foreign selling was very large and the inter-
national issues sustained material losses On
this class, Kansas x Texas seconds dropped
15A per cent, 10 45ix. with a subsequent
recovery OF half the loss Wisconsin Central
first trust receipts feIl away 10 per cent to
%, and closed at So Sales of Kansas e. Texas
seconds were made under the rule for ac-
count OF one OF the failed firms. In sympathy
with the stock market there was sharp
rally on the late afternoon trading the re-
coveries in prices reachipg per cent. Deal