Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1899-12-22
Shawmut Bank Comes to the Relief
Of the Suspended Globe.
WALL STREET IS DISTURBED
Violent Declines Occurred - Call Of
Loans Forced selling london siays
Down-Provision Market Good.

Boston. Dec. 2e.-Therc was a nervous
feeling apparent In financial quarters
today before the opening OF business
on account Of the troubled aspect OF
the situation resulting from the clos
ing OF the Globe National bank
Considerable confidence was ex-
pressed. however, that the action Of the
clearing house last week In making
certificates available through COM
mittee to banks in case OF emergency
would avert any further serious fail
urcs.
At the Globe bank today all tho
clerks were busy when the regular hoar
10: opening came. but the doors &C.
mained closed. and notice bearing
the signature OF ID. q. Wing temporary
rVcciNer. gave tho fcuHan.
The stock marke. WAS expected to
feel the disturbance ii conditions most
kcenly, and many cancellations were
held ana some uctlyc work MAS done
In copper circles bsiore the eScaange
opened.
The galleries OF the stock exchange
w"i. crowded today when business he
San. The market wla weak at the
OPENING. Trading was very animated
ana violent fluctuations Ia sugar were
recorded. Coppcrh were q tribe weak.
Montana dropping i've. hut recovering
halt OF the loss aimost Immediately.
United States oil dropped ga but rallied
quickly. The market showed good
support.
I.ccc.vei Wing and President II. VI.
Stevens Of the Globe bank declined to
say anything about the situation .1dny.
There was no unuSuai scene rruund
the hank. although number II Out
AT Ill aHfI a. In H.. al 40
moroy for Christmas were consider
ably upset by the Information that the
bank WaN closed.
Tho National shamut bank made
public the following notice.
That there may b. AZ little iac0n-
vsnltnce 40 possible 90 the deplsu0ra
o. the Globe National Dank and "thers,
the National shamut bank Offers to a T.
vance today TO all dcpOaltofs Ia the
5lel" ra;.i. against their deg So iifiN
FER cent TIE ne; amcrrt VI tn"
s.ntu
Tho action OF the Na.lonh shlmui
| hank h. i an excellent eIecl ih all en-
cies. and within short time after II
had become known. except Tor fever
ish tendency In some transactions on
the stock exchange. the financial Soc
tons Of the city were as quiet as unuil.
II was learned In connection with the
Globe bank case today that CT the
4
, Ing House to the bank last Saturday.
sspc.00D has been paid.
The nominal market value OF the Sc
cu'i lies given the Clearing House for
the loan Is ti.500,00O
The market rallied strongly during
the final hour and prices regained q
! large part OF the earlier losses. In the
railroads here were gains " from to 2
the latter In 81. Paul. In Industrial,
the recovcriea ran from 10 o, the lat.
ter sugar Sugar reacted over a poin
and somewhat unsettled. but the mar
ket closing was quiet and fairly stead,
ut net losses ranging up to points.
New York. Dec. e2.-The correspond
cnts IN this city OF the Globe Nati0na
bank OF BOSTON. which yes.efdiV wef
Into the hands Of n receiver ore III
Bank ~ North America, the IIlnove
National. and the Nati1nal city bsnl.
The most ~ the Globe Natlonhi'
business was transacted through tn
BaLh - North America. There ~,
atinll balances to the Globc Natilnn
banks credit in each OF these tire
banks.
Weakness characterized the bon
market. Tho speculative issues wer
the chlof sufferers.
The market lapsed into dullness an
recoverics " Importance occurred her
and there. Tobacco got back to 81. bu
n drive against the local traction
caused II to fall to Sois, Manhhtta
dropped 20 s5iA. Metropolitan sire,
railway TO i.5Sh and brooklyn trans
to 90. Sugars extreme break was
points TO l.iiiA; conspicuous strcngt
was shown by Anaconda. which rule
about a point above yesterdays clos
although II was one OF the weakest
the forenoon. a new low point for n
week was established by n great nun
Der Of railroads. particularly Baltlmol
& Ohio. preferred, Union Pacific. A.
Gibson preferred, st. Paul and Burllnl
| ton.