The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-12-21
Rumor that the Rothschflds VIII Inn
mediatefy withdraw 100000
Pounds from America.
MILD PANIC AT NEW YORK
STOCKS SLUMP AND MONEY GOES UP,
BUT DROPS AGAIN.
FURRY Due to the Situation I'm London
and engagements OF Gold for
Shipment TO-MorrOw.

publication here of cablegrams quoting the
presidents Of certain chambers of COM
merce in the United States as being op-
posed to war with Great Britain over the
Venezuelan boundary question. there was
a slightly better feeling among stock
brokers early this morning. Soon after
the opening, however, there was marked
depression on the Stock Exchange The
Evening Standard referring to this de-
preston said this afternoon: "The de-
clines were in sympathy with a further
heavy fall in American railway shares.
American bonds were also freely offered,
and unless these are taken up for New
York the outlook is gloomy. There was
extreme depression on the Manchester
and Glasgow Stock Exchanges"
The Westminster Gazette referring to
the condition of the stock market says
that there was g. financial panic in the
fall in prices Of American railroad shares.
Continuing, the Westminster Gazette says:
mot only is the selling for the account
OF investors, but speculations for a drop
have commenced in considerable scale"
Baron Rothschild, discussing the situa-
ton, said: From a business point of
view. opinions cannot differ. All want is
peace"
The financial article in the Times says:
There were many instances to-day where
the sales of American bonds could only be
effected at or 10 points below the nominal
quotations. It is now evident that President
Cleveland's message will be commercially
and financially disastrous to America for
a long time to come. 1t will be difficult to
persuade the ordinary prudent investor that
it is safe to lend money In country where
the responsible head or the executive can
commit such a mistake and yet retain the
confidence Of the Nation he represents. The
more immediate effect has been to restrict
the credits on London hitherto enjoyed by
New York houses, and to favor heavy gold
exports. Everything points to a further
pressure for money In New York and a
premium on gold is looked for unless the
political situation becomes less alarming.
In the street the prices were still wider,
the losses being: L. & N, 7A; Lake Shore,
z; st. Paul, 61a; New York Central, 5, and
Southern Pacific, A. In the active bonds the
fall ranged from IL to 81
An editorial in the Chronicle Q.iberaD
says: President Cleveland's message must
induce Americans to think deeply over the
needlessness of Tuesdays message. To our
mind. it is virtually counterblast. for it
appeals to facts and not to prejudices, and
presents real and not imaginary perils.''
A NATURAL SEQUENCE.
An editorial In the Standard, Conserva-
tive, says: THE second message of q nat
ural sequence of the first one gives the
American people singularly impressive il
lustration Of the truth that diplomatic RASH
ness inevitably entails monetary distress.
Great Britain, as the center of the world s
commerce, cannot escape injury during a
panic in. America and it is foolish to i'm
agine that any artificial measures have
been taken here to make the United
State issues unstable"
The Times says, in an editorial: 1.-The
situation President Cleveland's policy has
created is developing with great rapidity,
though probably not quite upon the lines
he would prefer. His second message is
almost as remarkable as the first. What
ever happens in the future ne will always
have the proud satisfaction of knowing that
he twice astonished the world within a
single week. With an air of the utmost in
nocence he takes note of the panic he him.
self has originated in precisely the tone
he would appropriate to the discussion OF
a calamity due to causes beyond human
control. 1t is rather doubtful, from the
terms of his message, whether he now
wishes it to be understood that his Ven-
ezuelan policy was designed simply to give
an object lesson in finance, or whether he
merely turns to account a catastrophe
which he did not foresee. Anyway, he for
gets the wisdom of swapping horses in
the middle of the stream. Neither Presi-
dents nor legislatures can produce conf.
dence by a stroke of the pen and business
men will not derive much consolation from
his anxious appeal, while the opponents
of his financial policy will distrust and
resent the attempt to rush 1t under cover
of an artificial foreign complication. We
scarcely think he has improved his posi-
ton by his second message. In American
churches tomorrow we may expect to hear
the Senate chaplain's eximple extensivel,
followed When the American people have
they will have time to make themselve.
acquainted with the merits Of the venezu
elan dispute
The Standards financial article says: "It
is rumored that the Rothschiids have de-
cided to Immediately withdraw f5.0O000
from America. Whether this is true ol
not, the gravity OF the situation Is undis
puted. Nobody fears war. but II. is ques-
toned whether the United States will bs
able to maintain the gold standard and
whether the silver party win not become
supreme and gold be driven to . heavy