Warren sheaf. [volume] (Warren, Marshall County, Minn.) 1880-current, 1901-05-16
PANIC IN WALL STREET.
Thursday One Of the Most Excitine
Days In History Of the stock
Exchange

New York, May 1O.-Wall stree,
Thursday was in %the throes of til,
most violent commissions that have
ever been encountered in the wildes1
speculation. But for the timely an
nouncemento of the Morgan-Hill-Har
riman syndicates. struggling with tn.
might of Titans to control the North
ern Pacific common stock, that deliv
cries on the common shares would MOI
be forced Thursday, many houses
would have been compelled to make
assignments.
Up to one o'clock in the afternoon
four failures We're announced and al
least half a dozen other brokera &c
rms were trembling on the verge OF
ruin.
James r. Keene won 5000. 900 in the
stock corner, and Russell Sage $2,OOO,-
600. a. 4. Houseman and Daniel La
mont are also big winners. John w.
Gates is reported out S5,OOO,0O0, and
Isidor WOrmser is also loser.
A statistical review Of the transac-
tons in the stock market Thursday
shows that at low waite mark of prices
Il principal stocks had shrunk to the
tremendous figures Of $69s, 1856, 4O7.
This shrinkage, however, is largely
offset by the recovery of the market
towards the close. Selecting some of
the more prominent stocks and apply
ing to them the low price calcula ton
gives the following showing:
Amalgamated copper, with s75000,OOO Of
stock outstanding. declined &c poins; and
the depreciation was sl9,5OO, Geo; Atchison
common, 1O2, 100000, 351l4 points. s35, 955. coo;
sS2, $50, 75G; Chesapeake & Ohio. 6O533. 400, Is
points, slO,Se6 012; St. Paul, 47,14S,600, 911A
points, Sl4.S5l 600; Rock Island, $4,000 600,
80 points, $16,50O, GOO; Delaware & Hudson.
IS, 100000, 60 points, s2l 100000; Louisville
Nashville, 52.s00,o0 264 points, sl3, $780,
geo; Manhattan, 4S,coo,ooo, 81 points. ST.
10000; Missouri. Kansas & Texas, IS, 49,
600, % points, $l2 $50; Missouri Pacific
147 1900, 81 points. sl3,727,l7O; New York
Central, 115,O000O0, 1874 points, SIS. 237, 500
Southern Pacific, 1871 ,S32, 100, 20 points, $780, -
sec, i2o; Union Pacific. 95,97S,5OO, 81 points,
s35 So, 045; United States steel, $50, 0C0 900,
2l&4 points, $Il9,6 ,0O0 United States steel
preferred $50, ,OO0 % points. sl59, 100000
In the craze to liquidate, due to the
corner" Northern Pacific was run up
from the close of 16O Wednesday to
$1,000 per share.
No sooner had the giants of wealth
begun once more the assault upon
Northern Pacific than there was a
crash in stocks which is unequaled in
the history Of the board All the
railroad stocks tumbled with one ac-
cord save Northern Pacific, which
changed hands in lots of thous ands
at 5000, $500 and $500. A few years
ago this stock went begging at $3.50.
Friday morning Kuhn, Loeb & Co.
and J. p. Morgan & Co. announced
they would settle with Northern Pa
cific shorts on a basis of $3.50.
New York, May 1.-THE calm that
succeeds the storm pervaded~ Wall
street Friday. The settlement with
Northern Pacific shorts at $50 large
ly eliminated the element of danger
that by mysterious processes created
the alarm of Thursday, and the state
ment that the stock clearances of
Thursday had been made without the
dishonoring Of single check seemed
to lay the cornerstone of new fab
ric of confidence. The market opened
in a rather feverish and unsettled
state, and there was a rather sharp
decline in prominent stocks, but later
the market steadied down and prices
recovered their earlier losses and be-
gan to advance.