Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1900-12-29
THE WORLD
OF FINANCE.
A Review Of Business in the United
States During the Year Just
Closing.
A SENSATION AT LONDON.
A Small Panic on the Stock Exchange
The London and Globe Finance Cor
poration Suspends Twelve Firms
Under the H.mmer.

New York, December 29.--Bradstreets
to-day says: The business of the year
1900 was not so good as optmists had
honed for, but on the other hand, it
failed to justify most of the pessimisitc
predictions with which the. advent Of
the year of the presidential election was
greeted. If the aggregate bank clear
ings be taken as a guide, business was
smaller, and yet, if clearings at the
great speculative center of New York
are deducted, an actual gain is shown
in the rest of the country over 1899. The
numerous, and liabilities fractionally
larger than 1899, but were fam below the
recent previous years, and If it be kept
in mind that a new army of $4,000 men
entered business during the year, the
small increase of failures can be hard
ly regarded as significant.
CHECKS DISHONORED.
London, December 29.-The London
and Globe finance corporation Qimited)
has suspended payment. When the
brokers yesterday delivered the stock
purchased on account of the London
and Globe and asked for payment they
received checks which were dishonored.
This was followed to-day by a failure
on the stock exchange of twelve firms.
LONDON FAILURES.
London, December 29-The suspen-
sion of the London and Globe finance
corporation has been followed to-day
by the hammering on the stock eX
change of twelve firms. While the diff
ficulties of the firms closely connected
with the London and Globe division
We're largely discounted, the repeated
fall of the hammer this morning caused
great sensation. 1t is feared that the
full list of failures is not yet known
Almost the whole interest of the stock
exchange to-day centered in the West
Australia market, the condition of
which sympathetically affected the 9TH
group toppled, especially the Lake
Views and lie Roi, No. 2. The shares of
the latter were yesterday quoted at %,
but to-day are unstable at 4. The Lon
don and Globe has also heavily involved
the British Columbian market. The
situation is not yet cleared up, as the
rumors of arrangements to assist the
Londoa and Globe are not credited in
well-informed circlesN There is the
greatest indignation against Mr.. Whit
aker Wright, the fountain head of the
concern, and others of the London and
Globe group. There has been somewhat
of recovery in Lake Views since last
evening.
The chairman of the London and
Globe finance corporation Qimited) Is
the Marquis of Dufferin and Ava, for
mer governor general of Canada and
British Ambassador to Paris. The fall
ure of the concern adds one more sor-
row to the closing chapter Of his life,
for he is to-day preparing to start for
South Africa, in company with Lady
Dufferin, in consequence of the serious
condition of his son, Lord Frederick
Temple Blackwood, lieutenant Of the
jill ldIlCeTS, WtlO was WOuAuCu VII &uOll-
day at Glenfontein. It is scarcely a
year since Lord Dufferin lost his eldest
son, Earl Of Ava, who died at Lady
smith.
The thirteenth failure was announced
before the close of the exchange. While
the mining market continued depressed
other departments quickly recovered.