The Oskaloosa herald., 1901-01-03
Exciting Scenes Witnessed on the
Stock Exchange.

VIZ 1OldOht OCGs III NO AOHQOu q
Globe Finance corporation, limited, has
suspended payment. When the brokers
Friday delivered stock purchased on
ccount of the London & Globe and
asked for payment they received
checks, which were dishonored. This
was followed Saturday by the failure
on the stock exchange of 10 firms, as
follows:
Haggard, Hale & Pixley. Gale & Driver.
II. A. Cohen, Blockey & Buckingham, Gum
e Aubrey, Richards & Sloper. Baker &
Smith, #. c. Watts & Co, Flower q Co.
and Il. BouIly & Co.
The thirteenth failure of stock
brokers was announced before the
close of the exchange. 1t was that of
Bartholomew & Jacks.
Haggard, Hale & Pixley are among
the largest mining brokers in the
world, with important connections, and
from the fact that this firm is pinched
in the panic it is argued that unless
the threatened crash is warded of
speculative interests in all parts of the
world will be affected. While the diff
fculties of the firms are largely dis
counted among conservative investors,
and it is believed many, If not all, will
be able TO ecoye during the customary
days of grace allowed by the stock ex-
change, yet, as the money market is
tight, it is feared the full list of fail.
ures is not known. Whatever may be
the fate of the larger corporations fol-
1nrrfrn tha. an, a, - q a - - - A. I -.
don & Globe corporation, it is conceded
many small jobbers who have dabbled
in Australian mining securities floated
by the big concern will be forced to the
wall.
Friends of the London G. Globe ex-
press confidence that the corporation
will be able to pull through. They say
1t has been tied up by a heavy raid on
West Australian securities, but hat
with a capital stock of $4,000, 900 and
an extremely wealthy board of direct
ors it will be able to tide over the furry
until the West Australian market re-
covers.
The failures Saturday involve rs
members of the stock exchange and are
equally divided among jobbers and bro
kers. 1t is generally regarded in the
mining shares market as being the
blacklist day since the Barring smash,
which was disastrous to all depart
ments. Saturdays crisis, however, did
not extend to The other markets, though
most Of them closed depressed. Amer
leans were incid entally affected, owing
to some of the firms which failed be-
ing interested in American securities.
The London & Globe foated West
Australian mining stock and securities
since its organization four years ago
and also backed the construction Of the
Baker Street & Waterloo, one Of Lon
don's new underground railways, in
which it invested nearly $4,000, 900.
The London & Globe, in one of the
subsidiaries Of which-namely, Lake
View-all the trouble originated, is a
highly speculative financing campany,
which has met with much adverse criti-
cism during the last few years.
Marquis of DufrerIn's Troubles.
The chairman of the London & Globe
Finance corporation, limited, is the
marquis of Dufferin and Ava, the for
mer governor general of Canada, and
British ambassador at Paris. The fail
ure of the concern of which he is the
head adds n more sorrow to the clos
ing chapter of his life, for he is pre-
pairing to start for South Africa in COM
pany with Lady Dufferin in conse-
quence OF the serious condition of his
son, Lord Frederick Temple Black
wood, the lieutenant in the Ninth
lancers who was wounded Monday at
G~lenfontein. 1t is scarcely a year g
since Lord Dufferin lost his eldest son,
the earl of Ava, who died at Ladysmith.
He is now encompassed by family
grief, to which are added these serious
financial troubles.
Lord Dufferin's fellow directors are
Whitaker Wright, who is well known
in connection with many companies;
Lieut.. Gen. Somerset Gough-Calthorpe,
who has been colonel in chief of the
Fifth dragon guards since 1892, and
Lord Pelham-Clinton, master of the
queens household and a son Of the for.
mer duke of Newcastle. Lord Dufferin
holds 5000 shares OF the London G.
Globe and 10000 British-Americans.
The fact that q crisis had been
reached in the sp%eculations of the
Whitaker Wright group of mines and
that the worst was known occasioned
a feeling of relief after the strain of an
ticipation. While the mining market
continued depressed, other depart
ments quickly recovered from the ex-
element
All the shares ToppIed.
Almost the whole interest on the
stock exchange Saturday centered in
the West Australian market, the condi-
ton of which alphabetically affect
ed the others. All the shares of the
London & Globe group toppled, espe-
cially Lake Views and lie Roi No. 2.
The shares of the latter were on Fri
day quoted at 90, but Saturday they
were unstable at four. The London &
Globe is also heavily involved in the
British Columbian market.
The situation is not yet cleared up, as
the rum6rs of arrangements to assist
the London & Globe are not credited
in wellinformed circles. There is the
greatest indignation against Whitaker
Wright, who is the fountain head of the
concern, and others of the London &
Globe group.
Missing Boy Found.
Fort Dodge, Ia, Dec. 29.-Johnnie
Tonhose, the nine-year-old son Of Mr.,