The Providence news. (Providence [R.I.]) 1891-1906, 1896-08-05
The Moore Brothers Are Pre-
pairing a Statement.
Slight Shrink in Providence Securl-
ties--New York Stocks.


ended, said q mem Der Of the stock ex-
change today. 1t might have resulted
in the ruination of dozen business
houses and banks.
President M. nj. jameson of the ex-
change in fullfilment of the resolutions
adopted by the governing committee, ap-
pointed the following gentlemen to act
with him as committee to confer with
the banks for the purpose of arranging
settlement of the affairs of the Moore
Bros.
p. A. Valentine Of Armour q Co.; A.
NJ. Day of Counselman u Day and g. {.
Yoe of Brewster q Co.
The Moore Bros. are preparing a state
ment of their affairs and the Diamond
Match and New York Biscuit Company.
The stock exchange will De kept closed
until all the facts are known and until a
syndicate is formed to underwrite the
deal at some price to be settled upon after
all the information is furnished by the
Moore Bros, particularly as to the stand
ing of the companies. The Diamond
Match price Will not be over l6O. New
York Biscuit will not be over rs. The
Moores claim the companies are not at all
involved. 1t is claimed 165 was bid yes
terday for Diamond Match. j. II. Moore
says: Our troubles begun yesterday.
Sunday 1t looked blue. Monday morning
had promise from my trother Ia the
east. Monday afternoon tho money gave
out.
The Stock Exchange brokers have in
formed their clients that, under the
rules, they do not guarantee trades, and
that consequently short sellers must for
their profits depend upon the solvepcy
of the concerns to whom the sales were
made. Consequently those short of
Diamond Match and New York Biscuit
do not know yet whether they will get
their immense paper profits or not, and
will not know until the Stock Exchange
reopens.
Friends of the Diamond Match Com
pany claim that President Barber stands
entirely aloof from the Moore fsilure;
that ne was in no wise Interested In
the speculative deal. Mr.. Moore Is au-
thority for the statement that had not
G. Il. Yerkes come into the market rs a
borrower--to the extent OF nearly sI,0O0,-
000-the collapse would have oeen avert
ed. New banks throw out the Moore
securities and substituted those of the
Northern Chicago and West Chicago
Street Railway values. One house known
10 be short of Dimond Match and New
10 ha
former and rs for the latter. There is an
unverifed rumor that the Armour crowd
will take all OF the Moore holdings mt a
certain figure and terminate the deal as
proposed by the Monroe street lawyers.
President Barber of the Diamond Match
Company has sent the following ca bie-
gram from Paris to Moore Brothers:
"Our presence here quite necessary.
Can do no good on there. Have some
important trades here. Government
denies statement made by Gould's
agents. (Signed) BARBER"
NEW YORK STOCK MARKET.
The stock market was fsvorably in6u-
enced at the outset by fractional gains in
London prices, and the marker opened
firm and higher. Trading was in small
volume. The improvements scored aside
from Sugar, were unimportant, the stock
mentioned moved up b per cent. to 1929.
Burlington, on the other hand, after a
trifling initial gain, developed weakness
and so of L per cent.
During the first hour purchases by the
n
percent. to 81 Is and stiffened the gem
eral list fraction, notably Burlington
which attained 81 rs. The trading is
without feature ana not much signifance
is attached to fluctuations in view OF the
extreme professionalism of the operators.
Moderate bear pressure after ii resulted
in important fractional concessions in
the leading shares. Burlington, excep-
tionaily, yielded - per cent. TO GO 1-2.
The announcement of further disturban-
ces exerted a depressing influence and
restricted dealings. The bond market is
dull and uDinterestIng. Prices have
been shaded with interest centering In
Atchison adjustment fours. Toward
midday stock prices siiifened all around.
The improvement has been maintained
up to this time. A feature of the dealings
was the purchase of the forthcoming
dividend on 1000 shares OF Burlington at
7-s per cent. by Howard Lapsley. The
sales to noon were Z, 500 shares.
MONEY.
Money on call in New York at noon
easy at 2a2 l-2 per cent. Prime Mercantile
GAG 1-2a7 l.2 per cent. sterling exchange
steady with actual business in bankers
bills at 4s9a4sg Ii for demsn and 4ssa4ss
Ia for sixty days. Posted rates
4SS 12a4s9 1-2a490. Commercial bills,
4s7 Ia. Silver Certificates 6s 3-4s69;
sales bar silver Cos 5-s; Mexican Dollars
80 5.s. Government bonds steady; State
bonds dull; railroad bonds weak.
BOSTON AND ALBANY EARNINGS
BosToS, Aug. 5-rhe statement OF