Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1896-08-08
THE BIG FAILURE.
Chicago Stock Exchange Closed
to Prevent Panic.
BRYAN AND SEWALL TO BE THERE.
Both the Democratic Nominees VIII Be
Formally Notified at New York-Secre-
tary Morton's Candidacy Talked
Over at a Banquet.

CHICAGO. Aug 5.-The Post says:
The action of closing the stock ex-
change was commended o. all sides
1t was admitted if an az tempt had
been made to carry on trading under
present circumstances panic would
surely have followed in which all
stocks would have suffered materially,
and Diamond Match might have been
run down to $50 and New York Biscuit
perhaps to 80 or 40. AS it is, with
the cooperation of the banks and the
very rich men who are interested
in the Diamond Match deal. no great
sacrifice in values is anticipated
There is talk among the members of
the exchange the bankers and the
heavy financiers of forming an under
writing syndicate to take the match
stock belonging to the pool at no The
banks will not be losers While they
are carrying large amounts of Diamond
Match stock, they have leaned on it
only o to S16o and Sl7o a share
On New York Biscuit from SIS to $50
a share has been loaned The stocks,
it is figured. are intrinsically worth
these amounts, and powerful organi-
cation most likely will be perfected to
protect values at about these figures.
The market will not be supported, but
it will he saved from bear raids.
This syndicate would, of course, have
to take up some floating stock. but it
is argued that it would not take long
to impress investment holders with the
true value of the shares, and the offer
ings would cease and the stock eventu-
ally seek a higher plane of quotations
again.
The real business situation of the
Diamond Match Co is not affected by
the failure of the Moore's- The for
eign negotiations are still pending.
BRYAN AND sEwALL WILL BE THERE
NEW YORK. Aug. Sit was an
bounced at the democratic headquar-
tiers in the Bartholdt hotel yesterday
that Mr.. Scwal1 would be present at
the meeting at Madison Square garden
on the 18th, when William J. Bryan
will be formally notified of his nomi-
nation There had been some doub as
to whether Mr.. Sewall would be pres
ent, but W z. St John said yesterday
that Mr.. Sewall would be notified at
the same time as Mr.. Bryan. The ar
rangements for the meeting are not as
yet fully complete. nor has the list of
speakers been made out Admission
to Madison Square garden on that oc
casion will be free. There Will be no
tickets required for admission, but
seats, $500 seats on the floor. 200 for
the press and the platform for the COM
snittee.
MORTON CANDIDACY TALKED OVER
OMAHA, Neb., Aug 5.-Postmas ter
Euclid Martin presided at the Morton
banquet last night Those present
We're leading gold standard democrats.
and no newspaper men were admitted
in the corridors. The meeting broke
up at 1880 a. m Members of the party
We're pressed for information. Morton
declined to talk, but Postmaster Mar
tin, who had been selected as spokes-
man, said: MIR. Morton's name was
mentioned as a western candidate in
the speeches, and it was the evident
desire of those present Mr. Morton
made brief speech. in which he did
not deny his candidacy, but said he
preferred to see Cleveland lead the
ticket which it was agreed should be
named. He spoke some time on this
point. 1t was the general sentiment,
however, that the nominee should be a
western man.