Show I 1 0 EA 11 RS A it v 11 J I 1 I 1 lively oay on wa I 1 I 1 street I 1 WAVE REACHES THERE prices tumble a and aind ind men look holthe safety of new hew york banks 4 NEW yorki york july 27 yesterday was sarcastically described by the Iro crokers kers as aa banner day A large portion of the day the stock exchange presented a situation very tory close to a panic at times sales of investment stocks pro ceedee in anch volume and with such violence as aa nevar before has been baeri wit hessed except in the corat days day of 73 london bought for a time b but proved d quite powerless to stem lite in the tide of liquidation some of the best stocks on the tha market broke from 4 points upward like shore in particular netting 7 points new york central ax 4 and western union 7 one extraordinary incident was waa the sale of shares of evansville anaville Ev I 1 terre haute stock not active on ex change they were sold under the rule rale ff for an embarrassed broker and although a the price was quoted quote d y yesterday eater at bid no buyer was found today until the stock offered at 75 a decline of 66 56 points in a day pr probably bably it unparallel paral led in the record of the stock block exchange the th bears had it entirely their own bavas there was no to their onslaught the announcement of the failure of H nicholas co added zest and prices tumbled right and left and without rhyme or reason As an illus of thin caso manhattan elevated may be cited the earnings of the com pany were never to ao great before in i its a hisor hilory y at this time of the year and the road is in splendid condition coalition and there was absolutely no reason or cause for a decline in its stock at half past 2 bankers and brokers of prominence said there was wag a better tone in the market but they would not say whether bottom prices had been touched ed yet for any of the stock xa x s change securities the president oi of one of the tha leading national fansa said bald last evening the banks here are ara perfectly strong nit and although there may be two or three small banks which would have bare had bad a hard time but for the protection offered by the clearing bouse there is not the ilia slightest reason for any anxiety iv with ith regard to them the sub treasury was debtor at the clearing house yesterday and settled its iti balance in eald it is entirely out of currency especially small bills bank officers oaid caid the actuation in that respect was pretty bad it iiii ix estimated that about was shipped to the c country yesterday by new york banks and much was waa in gold rumors were plentiful of receivers for several corporations in ini i eluding two railroad companies compan iea many however of which are utterly laselves baseless with reference re rence to the condition of the philadel philadelphia aphis danks the press of that city asserts that new york banks owe philadelphia banks about while Philadel philadelphia rhia banks owe new york banka now naw yort bankers however say that the money which now new york bankers owe phil Rd elphia is mainly on reserve accounts an and d the money which philadelphia banks owe new york is for drafts sent for collection money for which they have received but have not remitted the reason they give for not remitting us as money is that they cannot get new york exchange except at a high rate of commission and cannot apara the currancy yet they claim their cash reserve is more than 38 per cent A dispatch from philadelphia last night says the banks there pay a premium for exchange and does not emoly a ay av I 1 v weakness ness whatever on the part of philadelphia banks the rate rata for now new york exchange has averaged 3 per thousand for several weeks and in consequence philadelphia is considerably out ef pocket |