Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1896-08-04
Moore Bros, Of Chicago, Owners
Of the Diamond Match
Co., go Under.
STOCK MARKET PARALyZED
Silver Conventions To-day In
Kansas and Minnesota With
Fusion in Plenty.
ENGLISH PAPERS OPINION

WALL STREET, N r., August -
The failure OF Moore Brothers, of Chi.
cago. the promoters of the Diamond
Match company and the New York Bis
cult company, had demoralizine
effect on stock prices here at the open
Ing to-day. Enormous amouats Of the
leading issues were thrown on the mar
ket and prices dropped 4 per cent. ol
so between sales. The loss during the
first ten minutes of business ranged
from to 3 n per cent, western stocks,
like Burlington, Northwest and St.
Paul, being the greatest sufferers.
UNEASY AT CHICAGO.
CHICAGO, ILL.,, August 4.-Brokers
about the stock exchange this morning
felt as if they were treading on vol
cano. Never in the history Of the ex-
change has there been such suppressed
excitement. The failure Of Moore
Brothersan the collapse of the Dr.
mona Match company is the talk OF
everybody, and took precedence over
every other question. How many 9TH
ers on exchange besides Moore Bros.
would be affected In the big smash.up,
or to what extent, no one dared TO say.
All felt the peril of the hour. 1t is be-
lieved that the Moore failure will ag.
gregate between $7,000,000 and $S,-
100000. Such is the sum mentioned
by bank president especially close to
the spectators during their daring and
dazzling reign. At the usual hour of
opening, the stock exchange was filed
with mob, but no business is being
transacted. Groups are gathered here
and there, discussing the turn Of affairs
and everyone seemed waiting for some
announcement more definite than the
notice posted on the doors which reads:
Exchange is adjourned, subject to ac-
tion of the governing committee. j.
A. wilkins, secretary"
The governing committee met at
$3.50 and promise statement later in
the day.
SOME PARTICULARS.
All Information regarding the failure
is refused at Moore Brothers Office, this
morning. The two brothers held $5,-
900, 900 worth of Diamond Match stock,
the balance being held by great many
When the stock ran way
up. these stockholders sold out steadily.
Moore Brothers bought everything |
without finching, so that the minority
Of the ockholders are all winners,
while the Moores lose $8,000,000. 1t
Is said pool will be formed to take
care of Diamond Match stock, 1t being
intrinsicnlly very valuable.
At 1896, the governing committee
OF the Chicago stock exchange went
into executive session. The exchange
has adjourned subject to call of the
committee. 1t is hoped that the Dla-
mond Match stock now out, can be
syndicated at / 70. If such action is
taken it is possible the failures result
ing from the collapse Of Moore Bros,
will be much lessened. Chicago banks
and bankers who hold approximately
o. 100000 worth of Diamond Match
stock as collateral for money loaned,
will not press the borrowers for set
Element, and will accept Diamond
Match stock, owned by Moore Bros,
At cash value of Ito.
SAYS THE STOCK Is GOOD.
The governing committee Of the
stock exchange held a short session,
and the selection OF sub committee
was, given to Malcolm Jameson, who,
aelecting FIVE others, visited j. h.
Moore. After short conference, the
gentlemen emerged from the private
0iiics OF mr. mnoore, looking well
pleased and satisfied. None would
talk, but Mr.. Moore said: "There
will be nothing given out to day. but
you can say in general way chat the
stock will be taken care Of. The stock
is as good as gold, and nobody is CO.
ing to be badly hurt. -
OTHER FAILURES.
COLUMBUS. Ohio, August 4 The lum-
ber firm OF Euncon & Bergin went into
the hands of Henry j. Caren, receiver,
to-day. Assets, $250,000; liabilities,
$4,000.
>STEUBENvILLE, Ohio,, August -
The Brilliant tube and pipe works, at
Brilliant, Ohio, made an assignment,
to-day. Assets and liabilities unknown.
Five hundred hands are thrown out of
employment.
Destroye BY Fire.