The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-08-05

has caused such furry i'm commercial
circles as the collapse of the Moores in
their efforts to maintain their control of
the Diamond Match stocks and New
York Biscuit. 1t has been the talk of
every man connected with the stock
exchange and the board Of trade. An
other striking feature of the failure and
one which in q measure showed its
extent and breadth is the fact that the
Stock Exchange for the first time in its
history adjourned indefinitely at once.
Its doors were opened without doing u
dollars worth of business. The follow
ing notice was posted on the doors of
the Exchange:
1.-THE Chicago stock exchange has ad-
1ourned subject to the action of the
Governing Committee. Signed,
y. Il. WILKINS. Secretary"
Outside the doors ana through the
! corridors of the building We're excited
groups of brokers' and traders in stocks
discussing the situation. Every one
connected with the Exchange was en-
deavoring to convince everybody else
that there was no cause for alarm
I'hey announced that the officials of the
Exchange We're endeaVorng to form a
pool to buy up the stock OF the Moore
Brothers, to hold it until the ilurly was
over.
At Il meeting of the governing COM
miti"c resolution was adopted calling
for the appointment OF committee of
four, the chairman of which shall be the
president of the stock exchange. and the
other three to be appointed by him t."
confer with the bankers of Chicago and
the Moore Brothers, to arrange a basis
of settlement. This committee will meet
ut 3 o'clock today. This action had the
effect To modify the excitement of many
of those Interested. Those best posted
in the matter declare that there is no
fear of Il general panic. The govern
ing committees, at Il meeting today
adopted the Following:
Resolved. That in cases of all stocks
bought and sold regular" the trades
shall be carried out. and that in cases
where stock has been bought regular
and sold in the account the stock shall
not he delivered until the opening of
the clearing house.
IT is learned from inside sources that
the committee from the stock exchange
gathered little information of use to
them in their interview with j. II.
Moore this morning. Mr.. Moore. it is
said, was able To offer no detailed in
formation regarding his affairs, but
made a promise that tomorrow he would
furnish the exchange with written
statement.
THE BANKS uNCONCERNED.
The failure has caused little or no
stir in banking circles here. Lyman G.
Gage. president of the First National
bank, says he would not have known
that Moore Bros. had failed had he not
read it in the papers. The First Nation
al holds some Of the Diamond Match
stock, and upon being asked about this
Mr.. Gage said Yes, we have some of
the stock on which we loaned $50 u
share. The stock is good and we are
willing to take it that price. so we are
not bothering our heads about it. AS
Ia the exchange closing, that is mat
ter OF little Importance. The Chicago
Stock Exchange is a good place to buy,
but q very poor place to sell. The brok-
eers ON the exchange are quite eXcit-
able, and ] presume the closing did
,'""' I'''e '''.'r 'ot'i.iio''"' a'i,'nS
''' - 'e' ''' 10 '''H' a' "'i'' as
hurt"
U,.a.o,aa L,i't ,,, - .. ~
afternoon, but accomplished nothing
They adjourned until tomorrow at noon
tn await the statement promised by j.
ii. Moore, Of the finances of Moore
Bros aud their dealings in Diamond
Match ana New YORK Biscuit stock. 1t
was decloed mat II Would not DO TO re-
open Inc eXchanSe until the Moore
tahS!e is Strengthened out. Oiiers We're
mace around town durlnG the afternoon
Tor patches oi Diamond Match stock
all the way from l'' 10 ia, put nobody
seemed 10 care |" sell.
i. -. Armour. VINO IS supposed tc be
one oi the heaVlest hoiners OF Diamond
Natch STOCK tooK Il hopelui view "i the
situation When seen toua!. he dio not
thiilk that me iaiiure oi Moore Bros.
Wnuid aiiect any "ther securities than
Diamond Match anu New YORK biscuit
ana over THESE he ooes hol expect any
panlc. Mf. armour sai"'
All 'he panks nave asreeu 10 make
no caiis Oh tue s,ock "h'i. arialsenneIts
can pe i'aue anu 'he pir'a'e i'iuiNiuu,
ans VIII" "o'o s'oth az an 'i''' men anu
apie 10 carr! l, anu So see ho cause ior
apprehension.
THE MATCH LOANS.
The interest of the hanks I'm tbe nm
fortunate ara;r is nri,n,ri,v confn.d
to loni,o tba narket y,i,,e of- r;omo,d