The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-05
MONEY AND INVESTMENTS.
Doings of Day With Wall Street
Operators.
STARTLING DISCLOSURES EXPECTED,
OF the moore Bros. Failure In New
ok-Nuah to Sell Mt the Sound OF the
'onc-Demoraiiacd tho Market.

new York. August 1.-The failure ne
moore Brothers of Chicago was n com.
pete surprise to Wall street, and was
at iNst assumed to include the collapse of
the Diamond Match company of Chicago
anu inc New York Biscuit company, which
Hou ltTtn promoted by the firm. The sen
sauohil character of the failure and the
Unusual steps taken in closing the Chi.
caso exchange pending ioat justm.nt
ieu the ilnanc!al community at large to
expect the most startling disclosures. 1t
was feared that New YORK CITY banks
hnsht be involved as holders OF collater
ais ana that Wholesale lQjtioiuon III the
S'dhscrs and other shares mssht result.
Lower London cables previous 10 the open.
lhs dSO created an ulltaVorable lmprcs.
SION. Accordingly there was a rush 10
sen a the soulid OF the gDus ana uu1lIs
the next ntteen m-nutvs tne mdlnvt was
"eHnuidlHeu under Iquluaton UI uiisr4n,,,
anu sales Tor icteign account. Ihe sllua-
liOH was aggravated by expectations OF A
SNAIL ADVANCE IN rates l1r money ana
SIHuhercaM paper In the time spcCi!l-u
"tci'les We're scored all aiol tn4 lue
Mlth the srangers the iavcrabio objects OF
attack. Burfrgtch preferred, lest IS,
NHicaso Gas -, sugar rs. Rock Island
ana Leather preferred 2 NORTHWESTERN.
81 faul and Manhattan rs. sugar pre-,
i.Ie1 ana Lead ptel,rred III, LOuisVi.ls
"i,' 4NdSiiNihe O-S4 ana other shares TO
a itss extent The selling pressure aba.eI
lattr and shares rali.eu on a clearer un-
orStandilg Of the situation. Leading
ndhhCrs wee heard from 10 the effect hat
lne New DIX institutions were Nc; ~
vowed, and Chicago te!cgNtrs received
stated that measures han been taken 10
SUI port the stock of the DIAMOND Match
company. quoting prominent rapitalIsi., az
saying that the trouble would be over
Wfthlh Il comparatively short time. Never
lneltss 1t was lelrn"d later that The New
YORK banks had callea !oai.s In order to
Send Nancy to Chicago. The result Of
mrs action, although tho fact that II had,
beeh taken dld not become puliic. was
tns wlthdiIwal Of the offers Of short time
cent for all periods. Gail money wa a =
Nalic"d 10 3i2 per cent, as the. mnNinur1
ngtre with the huk of the transactions
n, 2'-G" per cent stfiemns IN com
mefcldl paper rates also took place, lower
quotations than Gla per cent FIR prime
paper beng the exception The market
became extremely dull and the recovery
owing to the continued dClrssiug effect
of the disturbances disappointing traffic
returns and exp rctatious Of i,ecr eXhlf'ts
yet to b. published. As the dry r.or-
cccurr.1 frequently as a cesrlt of trad ny
operations further rise in actual ard
post rates r sterling exchange failed to
Great a ripple. The rallies rad extended
the vance was he-kei undo, light If
ieringS by the bears. together with real
i2ing, sales. when prices reacted To ncai
Ne i$tel low fignits. ST. Paul excep-
hv"rv hour there was a general shffruine
IN prices in wMch Sugar touched 1861 ani
closing was IRREGULAR at net aeclin..s OF
az per c"Nt in tho leading shares.
ThH rH'lway bond market was 'ull, with
r4rrinc ton iencv. sales, 1sSco
SHARES. Including: burlington $500: st
Paul 400; Tobacco 1900.