The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1903-08-12
sIl0Ck TO sPEeULlToRs.
Crash on the New York Stock
Exchange---Lowest Record
Since Last September.
Railroad Shares and lndustrials Alike
Go Down-Total shrinkage Amounts
10 Many Million Dollars.

New York. August 5.-Two more
Stock Exchange failures. making a
total of six in the last eleven business
days, were recorded today when Sharp
g Bryan and Hurlbutt. Hatch & Go.
announced their inability to meet
their obligations. Neither failure oc-
casioned the slightest surprise IN fact,
both had been discounted for week
or more.
The failure of Sharp & Bryan came
during the morning session, shortly
after the market had recovered from
its demoraIized opening. That OF
Hurlbutt, Hatch & Co. was announced
IN the afternoon, just as prices were
tnmbling lower than at any time be-
fore.
The days business can best be sum-
married by the statement that full
swo-tbirds Of the active list touched
the lowest record reached DUNG the
present movement, which had It's
inception last September.
AS the close Of the day some Of the
solid interests-and il is significant
chat these interests have been "ou5 of
the market for weeks past, save here
and there, when support was most
necessary-spoke reassurlngly. They
declared that the financial atmo-
sphere was being clarified, but for all
that Wall street as whole could see
no silver lining to the cloud, much
less golden one.
Other failures were confidently pre-
dieted and the names of several impor-
tane firms were mentioned as among
those in financial straits.
a sharp break IN sterling exchange
during the day was coupled with the
suggestion that at least one interna-
Sional banking house had been making
desperate efforts to borrow money
abroad. Officers of leading local banks
and trust companies declined to. dis
cuss the situation exceps to express
confidence as to the sound condition Of
the financial institutions. The day
5 began ominoHsly. Opening prices on
the Exchange were decidedly lower
almost all through the list, but the
break was checked by supporting Or
ders In fact, veteran observers were
heard to declare that but for this sup
port panic would certainly have oc-
Cured.
The Sharp & Bryan sailure made
little impression on values, but to-
wards noon the list receded, the decline
including most all the standard
shares, the market then becoming
dull, except during the last hour and
half, Wnen stocks were again thrown
over ruthIsssly, and the closing was
extremely weak and feverish.
Today's shri1kage alone aggregates
many millions of dollars. Countless
stop Iess' orders were caught in the
selling avalanche, and it is probable
that hnndl,eds Of weak accounts were
closed In utter disregard OF the losses
sustained by their owners.
The LIST OF stocks that touched their
lowest level includes Atchison, Balti>
mere and Ohio, Chesapeake and Ohio
Chicago ana. Alton common and prefer.
red. Chicago, Great Western and the
,dabentures ssad second preferred, Chi
cago, Milwaukee and st. Paul. Chi
.cago and Northwest common and pre-
ferred. Delaware and Hudson, Color
ado and Southern first and second pre-
ferred, Denver and Rio Grande COM
mon and preferred, Great Northern
syrsferred, Evansville and Terre Haute
srefesred, Long Island, Louisville and
Nashville, Kansas and Texas, Mis-
souri, Pacific, New York, Ontario and
Western, Rock Island common and
preferred, st. louis Southwestern
common and preferred, Texas and
Pacific, Union Pacific and Wabash
preferred.
II the industrial class new low re-
cords we're the order IN American Cot
Ton OH, American Linseed Oil COM
nor and preferred, American Smelling
r,referred, Republic Iron and Steel
common and preferred, United States
I,eather, United States Realty com.
nor and preferred, United States Steel
preferred, Virginia-Carolina Chemical
common and preferred. American Hide
and Leather preferred American
Snuff, American Sugar, Hooking Coal
and IRON, Consolidated Gas, Contin-
entail Tobacco preferred, General
Electric, National Biscuit, New York
Air Brake, Pacific Mail, Peoples Gas.
Virginia iron, Coal and Coke and
Pressed Steel.
70 these lists should be added
BROOKLYN Rapid Transit and such
specialties as American Express,
United States Express and Corn Pro-
ducts common and preferred. Fully
dozen or more other issues sold on
parity with previous low prices OF the
year.
These stocks made the greatest net
losses for the day: American Snuff 10
points. General Electric 577a, Pullman
Palace Car 7s4, Sugar 2, St. Paul 2ss4,
Colorado aad Southern lst and I'd pre-
ferred 5s and 434. respectively; Con-
soIidated Gas 6. Brooklyn Union Gas
4l-3, Delaware and Hudson 5, Denver
and Rio Grande preferred 4, Evans
vile and Tere Haute 715, Metro.
politan Subscriptions 5, Missouri
Pacific 5 SO, st. Louis and San
Francisco, Chicago and Eastern llli-
nois certificates 10, st. Louis South
western preferred 4s4, Teaxs and Pacl-
6c Land Trust 4, Wabash preferred 41a
and Reading and Lake Erie lst pre-
ferred 5.