The L'Anse sentinel. (L'Anse, L.S., Mich.) 18??-current, 1899-05-20
ExCITES THE MARKET.
Death OF Roswell r. Flower Causes
Great sbrinkage In stocks-Mii-
Iionaires To the Rescue.

New York, May l5.-One hundred
millions of dollars were ready Saturday
to avert panic in Wall street in case a
disaster seemed imminent on account
of the unexpected death of Roswell u.
| Flower. The Rockefellers, Morgans,
Nanderbilts and others who control the
financial world stood ready to place this
immense sum al the disposal of the
firm to which the former governor be-
lohged. But no offer was made to the
'irm. The men of money knew that the
firm was in splendid condition and
could stand almost anything. The news
that the financial kings We're ready TO
place this great sum in the street got
abroad, however. and saved the day for
many others, some of whom were not so
well able To stand the strain.
In the early hours il was n period of
great interest and anxiety. There was
y tendency to wildness in the general
market, but nothing like to the same cx-
tent i'm the Flower issues. The shrink
age on Flower stocks is estimated to be
more than $4,000, 900 and the general
a.
100000.
Some of the more conservative brok-
ers advised their customers not to be in
a hurry 10 sell the Flower stocks. Many
persons took this advice, and after
awhile the Flower stocks followed the
general market in an upward turn
again. In BROOKLYN Rapid Transit,
which has been Gov. Flowers favorite
stock for the last two years, $4,000
shares were sold as soon as the gavek
fell The trading was so wild that
brokers acting foF0the same firm. one
executing buying orders and another
selling. made transactions seven points
apart
The scene in the stock exchange be-
fore the market opened was indescriba-
bic. The frantic actions of the brokers
was like an infection in the galleries,
and men and women jumped up and
down. yelled and cried out. and it
seemed as if all those in and about the
stock exchange had suddenly been
seized with violent dementia. There
was reason for it. The market had
opened and had broken.
The interest on the stock exchange
and in the brokers Offices conferred in
brooklyn Rapid Transit which closed
Friday night ut llSH. After wait of
several minutes the ticker announced
that the opening sales in this stock
were $4,000 shares, at prices ranging
from 10 to 100. At the latter figure 600
shares were sold. 1t was stated, how
ever. by the stock exchange operators
that the actual aggregate of the open
ing sales was nearer 10000 shares than
$4,000 shares. Hausman was apparent
" the agent of the men who wished to
support the stock. At the opening he
announced that he would buy any part
of 10000 shares at 10. The crowd
rushed for him like pack of wolves.
In one second his order was filed and
in another second the stock was selling
al 1876. After the price struck par there
was Il rapid recovery to los. From then
until the close of the market QUOTA
lions averaged 101, and it closed at
1861. with total recorded sales of $780,
00G shares.
Peoples Gas. another Flower special
ty which closed at llSaI Friday night,
opened at l12 declined to 10l, rallied to
116 and closed at ll2H..
Federal Steel. another Flower stock,
which closed Friday night at 61H,
opened AT Sc, dropped to so, rallied to
IS and closed at 55k
The most sensational break of the
day was in New York Air Brake, which
-. H.,1 all
from 80 to $50, and which had closed
Friday night at 1S5. 1t dropped 5, 10
and - points at time to 1875 aJoss of
60 points. Slowly recovering, it closed
M 1914.
The transactions i'm some of the spe-
calties were something enormous for
Il short day. Of Peoples Gas $4,000
shares were sold: of Federal Steel. ST.
600 shares: of St. Paul, $4,000; of Bur-
lngton, $4,000: of Atchson preferred,
$4,000: of Steel and Wire, $4,000.
The rally in the market was princi-
pally due to the fact that the Rookie
fcllers bought 100000 shares of the va
rious stocks. They and other finan-
ciers. including j. Pierpont Morgan and
the Vanderbits, offered the firm of
Flower & Co. the use of 800, 900, 900 if it
needed it to support its securities. The
firm, however, did not need cent. 1t
not only sailed through the storm it.
self. but carried all it's customers with
IL; taking care of their stocks, although
the margins had been wiped out in
Inany cases. This was an instance of
libernlity unheard of in Wall street.
Awful Charge Against Father.
Eentonyille. Ark, May 15.-J. {. But
Ter. Il prominent citizen living is miles
south of this place, was lodged in Jail
here Sunday, charged with the murder
oi his 15-year-old daughter Saturday.
The body was horribly butchered, her
head being split open with an ax and
her throat cut.
Lumber Plant burned.
Manistee, Mich, May 15.-R. q. Pc
ters' large saw and single mills were
destroyed by fire at an early hour Sat-
urday morning, together with their