New-York tribune., 1901-05-11

, tanrle into which their books had fallen. The
whole Street rejoices over the hoHoay- l
Consolidated Exchange will be closeo TO-DAY.
and the curb" brokers, following the ieau VI
the two exchanges. will also suspend business
for the day.
TWO FAILURES ANNOUNCED.
Two Consolidated Exchange failures were
announced yesterday. kibert Ihomas jackson
and Samuel c. Jackson. stock brokers. ct No
TK-a1,-s, eesigned for the benefit of creditors to
AIfrad 7 NJ BuIlowa F. f. NJ. Bullowa is the
attorney for the assignOrs They young
men, who have been in business for less than
q wear The assignee said that the failure had
been caused by their being caught short Of
stocks 1t said that they were involved
with two other Consolidated Exchange firms.
which failed Thursday. The assignment
made without preference The liabilities
are estimated at 100000. They expect to re-
sumo business in few days.
+. b. Hilton & Co, who have two members on
the Consolidated Exchange, suspended business
Yesterday for the purpose of straiShtening out
their books. Mr.. Hilton when seen at his OF
fee. at No. 81 Broadway. said: The pace has
been so terrific that we were compelled to close
shop pending an investigation of our accounts.
For the last two weeks our bookkeepers have
been working until l and o'clock in the morn
ing. We do not owe cent to our custom ers
hut have large sums to our credit from their
accounts with us. We shall resume business IN
two three days
President Wagar Of the Consolidated Ex-
change said that he thought il unlikely that
there would he any more failures. IL was MS
opinion that the houses which weAthercn me
storm OF Thursday and came through yes'er-
day We're now resting easily
HOPEFUL FOR THE FUTURE.
Leading brokers in the Street. when seen yes
terday. spoke in hopeful terms about the future
OF the stock market. The opening CT the market.
the forenoon's trading and the readiness of the
bankers TO provide money at easy terms had
done much to inspire this hopeful feeling.
Arthur A. Housman. who lent a great deal of
money on Thursday TO brokers who had been
caught in The Northern Pacific squeeze. yester-
day again gave notice that he had more money
10 lend at q per cent When seen later in the
day he said he had lent Sl.50O,000 at that figure.
About the general situation he had this to say;
The market has Quieted down, and TO judge
from the opening to-day We may look forward
without much apprehension. The sensible view
OF the situation taken by leading 1nanciers gives
US the right TO hope that a solution Of the pres
ent difficulties will be reached without much
delay and without any disasters"
How viii money be?"
The bankers VIII take care of that part" was
the prompt answer. so far they have come
forward in a most noble and generous manner"
In answer 10 question whether Thursday &
doings in the Street would not have the effect
of keeping money out Of the market, with the
result that prices would remain very low, he
said: The people who will be kept out OF the
market that account never amount TO much
in the market. anyhow. This is q market for
rich people. and not for the poor"
A member of the firm OF Lockwood. Hurd G.
Co. when asked for his opinion. said: The
market is in better shape than for some weeks.
the important interests bought back stocks
sold during the public buying furOr. and Will
liquidate them slowly. In our judgment. are
back TO normal market times. where stocks can
be bought good news and sold short on poor
earnings had crop reports, etc. On both sides
moderate profits only should be expected. In
trinsc value will govern prices for a time. There
is no doubt that the speculative buying power
has been greatly curtailed by yesterdays losses
Of spectators all over the country. but the
nation Is very prosperous. railroad earnings are
enormous. much money is available at fair
rates. dangerous buying has been eliminated and
stocks should advance from this level. selling of
moderately bad news reeliZatiOns. In a
word. We can expect safe trading market with
moderate profits on both sides. the volume Of
business probably shrinking TO 100000 to 1,OOO-
600 shares daily"
Bank clearings yesterday were SJ9s537. .410.
the heaviest record. The best preceding rec
ord $500 81 Z .206. on May T. Balances yes
terday were s23, So, ZIG. also a record.