The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-04
MOORE BROTHERS M
"reatest Speculation b., !.
Chicago at "a Cd.
MARGIN CALLS COULD MOI b (.


'ne failure of tho people ~ sa's
hind the deal. w" IA
The Chicago stock e,,..
1ourn at 10 o'clock top,orro. "
ueiiili'e period. This action -. "
upon at meeting held mi, !,
"hlch were present tia r..,
stock exchange governing ca,a's', \
II number of prominent cah,.a''
needing was assembled ,..'
'i'e announcement was mad. n. Y
Afternoon by j. IL. Moore IA, 4
calls could no LONGER be NAV n
houhceihent was made IA ~
nlcii IleaNliy Interested and II ~
neSl 10 eau a meeting TO dls,,s.
atloil' 1hose who assembled 49, AZ y
nest means for restoring conFs....
,he shock which would be pivs, !.
lAulVe circles by the ammonia me-
| ith'Iure. II was the general ars.s.
| ~ would he the wlsest t,oss ~
| close the stock exchange for ~.
| points were made thai roo
business at The exchlnpe Il,
OF weeks has been In nlsm.s,
ana New York Biscuit. thai Nv =.
| the exchange would interiors orIs
81 giltest degree with general sns,.5
| idiis ana mat the present wa =
AIRY opportune time owing "A N
| thdt tle settlement In the Julr v
hld been completed and thers y
as yet comparatively litih M
| August. The governing commir-
stock exchange discussed ths Kim,
| length and pa.sed resoIltIo, n !,
the exchange az 10 o clock tornyro.
nitely. ~
1t is thought the adiournm,ne a
| nut a lew days ana tina, naitr
Wlthin thdt time be straighie1el a
| way mat Will make the l0sss a 4
possible TO bear. Those preser h
meeting say that IL the exeha,as
open as usual tomorrow the bsss
make n slaughter Ct values mi ,
cost q great deal ard in lars, !
unnec -ssaiy loss. Their belia h
closing CT the exchange and III Il
ton of making speculative Qp,EaI
the securities which would enih, a
having open trades to clcee thee, N
situation could be liQu.iated n 4
measure without the sharp dstY
would follow the trading In ORES 4
SO lar as the banks are conNaa
are indifferent personally as 70 N
the exchange should, be closed q |
I lie stocks held by them are na-r
a point which leaves them &cg.hl
event.
The speculative deal. Of which NJ
ure is g. Inrt, is the most impr.sri {
n story OF Che Chicago stock ad
] lie stock of the Diamond Mi
/ along al 100 for quite time a..
mas been no SPECIAL activity In ~
kct. Just prior TO this the Zip b
out that there were 10 ne some l1t
European Developments In I'D
with Diamond Match affairs. n
buy ing of the stock was commit.
ttrong people. The Veuefnln
inent interfered with the speculate
The stock dropped druing The Esin
cline at the time to 1l5 From "
rise started, which Is the mos n
bile in the history Of the exta3l
strong group Of speculators hssl
James II. and w. II. Moore bsfav
the stock.
The Moores went through bHA
out the slightest difficulty ali
generally believed that they hs1 "a
might be accumulated. From ~
vance began again, hut II had 90
snap that had characterized ne "
There was no question about IN
lalth of the people who had ik
Information regarding the oonpsiIs
poets. They were steady huyds
the decline in stock Inarkels
came, following the democrats
ton. the stock was at abol, =
values Of othar securities tlniolei
ter day. but Match vas held s.@la
out so much as a fractional deem.
MooTes bought the stock With ~
that inspired confidence N 0l...
people who had the best inforpalt
the comtany's prospects seemt
ahsol lptely certain OF the vai,e
curlties. and prices were nell lais
the sharp fluctuations in otasl ~
was believed that a heavy snoh
had been created by buyers W.
like a quotation which coula
the face of a decline ~ the SIX.
ket. Appareasly the hopes Of
rested on the size of that shvn
When the July account came W
the carrying charges Tor lui,..s
into the August account were w
so large that faith was shaken
iStence of an extensive sholt ~" \
greater part of the capltai WY
deal had been carried on nau
in New York and New Eika w
banking institutions are onn N,
Interested in tho affair. DIns.J
porienced. owing TO the gm
confidence. In renewing oh~ y
Eastern loans. Settlement N M
cessfully passed, however, ANN
believed that. in spite OF tne ri.
ing charges, the bulls were y" ~
of the situation. The sloea
however, in enormous qu1ss n,
Moores were almost alone "
the market. but they STOOD ''''
remarkable courage. ia ar
TODAY the stock was heiu w
WAIVER at 30, but there ws q h
ing Of long stock, which ~
servers of the market 10 is
load might become too hea'g
events later IN the afternoon la, y,
these fears We're correct, n ID
mond Match was only part & M. n
had 0rganized the New VOTE Pr n
n ,'',, - s S,,',' years ago aftet y
Sunless az Inc Diamond Ma'Ips
The i.anic of 1888 had hit ne i S
pany severely. as. i din o. III
M, This vas met with specuss's,s
Hinton Of diamond Match S "
das,re ~ see what could m IA
W, yo,l, piecuit and Ihat =
a,Io,ed several months ago y"
Fron, there n dropped baess u
for ro' wc .,oie was n, held about ~ ~
snite of the shar7o declines ~ ~ ~
ir, 'tV u rsormous quantities q MA
we're also roured upon tns ar
they were taken WIN the ~
pcss which markeu ,,nmuls.Np
Diamond Match. Inc AT sun
ever, represented a e,bst SOS
ana the opera tons ~ The -,
largely to the total u
VOWED. .ssnt to.
1t is not at the prssss"w haI z.
to make any estimate W c,,sstc,c
Is. The Moores have u ,inr Of ~
chased an enormous, Match.
and Diamonu hss k,..
price at which Match The 49,
makes the sum large, Il sllN
Of the Match compa'.' coulpaN
the New York Blsculs W para
II Is said the Moorcs h nt The n
of the Match ana 4, vcar,pam,,
norton Of the B!scul, Of "
Moore, the senior menu, Jlas
ut present in the Essdiaie -
Who has been the MN, MN. CAMPS
sger OF the specuia'' q
Chicago. ,os that
vet in position 10 ,.oived.
as to the amount ih'u.-
AN ELECTRlcAra ~
wiuona, MINI. Auss .,'nols ~
storm which visited W ne