Durango semi-weekly herald., 1901-05-13

down, and efforts - being made
which promise to bring together the
conflicting interests now fighting for
control This fight precipitated the
panic. and II Hill and Hartman can
agree the trouble may he considered
over.
The feeling is still feverish. but
leading financiers at the close of the
market expressed themselves as sat
isfied that the worst was over with.
That this will prove true is foreshad-
owed by the general and rapid recov-
cry during the closing fifteen minutes
of the session. The market at that
point was stronger than at any time
during the past two days.
The stock exchange will be closed
Saturday to give brokers chance to
catch up with their business.
The only thing that saved a panic
of enormous and far-reaching influ-
ence was the decision OF the clearing
house banks to lend the brokers six
million dollars at per cent this af-
ternoon.
At 1030 this morning the banks
called in all loans and refused to ne
gotiate renewals.
AS high as 60 per cent interest was
offered for money, but not one cent
could be had until the bank presi-
dents thawed out and agreed to loos-
EN- up on the immense amount OF coin
stored in their vaults
NEW YORK. May 9.-Valet Jones.
who confessed to the murder of mil
lionaire Rice at the instigation of
Lawyer Patrick. has been removed
from the Jail to boarding house,
where he can receive better atten-
ton. Two nurses and policeman
are in constant attendance upon the
sick man.
Los ANGELES. Cal. May 9.-The
presidential party is now spending
the second day in the Land of Milk
and Honey" Today's affairs and
entertainment far eclipse any thing
of the kind ever attempted by an
American city. The parade this
morning was almost beyond descrip-
ton Twelve Thousand school chill
dren participated and scattered flow
ers in the path of the carriage occu-
pied by the president. The floral dec
orations Of the carriages and floats.
which were made the feature OF the
occasion. were the most exquisite ev-
er behed. Three hundred carriages
decorated with living flowers were In
the line. The swellest turnouts in
the city and the southern part of the
state We're covered with blooming
roses SO that not an inch of their run
ming gear could be seen. The presi-
dent rode in n carriage that was a ver-
table dream of fairyland The pro-
cession took two hours to pass a CIV
en- point. Two large stands had been
erected from which the governor and
staff General Shafter and staff and
members of the presidential party
viewed the parade. The president
spoke to the school children. urging
that they always be llberty-loving.
Then, he said. they were sure to be
the best citizens of the country. He
thanked them for their demonstration,
not given in honor of William Nc
kiniey, but to the president OF the
greatest country on the globe. After
luncheon the party proceeded to San
ia Monica. where they get the first
glimpse of the Pacific ocean and at
that place the old soldiers living at
the national home near there will be
reviewed. The journey to San Fran
cisco Will then be resumed.
The cloudy and murky weather has
e,Ii oil off hn Df
the tiestas in honor of the visitors
SANTA BARBARA. Cal. May 10
The presidents train arrived here ct
a little before noon. The reception
extended was on a par with those Of
other cities. The demonstration was
on a lavish scale. The parry left
this afternoon and will speno tonior
row and Sunday at the famous Mon
terey hotel at Del Monte.
NEW YORK, May 10.--It is esti-
mated that within the next twenty
four hours fifty millions of dollars
will be poured into the banks of this
city by other banks in various parts
of the country.
The big banks here have called up
on all country banks for funds with
which to replenish their reserves.
Twenty millions arrived by morning
trains and during the day considera-
BILE more will reach the city.
Trains arriving during the night will
bring twenty millions more from Chi
cago banks. which was shipped last
night.
This large withdrawal of funds
from oustide institutions will not
work any hardship on them. as this
city is the storm center of the pres
ent financial whirlpool and the effects
of the panicky market will be felt
nowhere else to any degree.
The market opened strong this
morning. with prices up from three
to eight points, but after the first hour
a short selling movement set In which
caused slight declines. The undertow
is strong and it is believed that the
shorts are scalping the market In or
der to make small profits.