OCR Text |
Show IK WALL STREET. Oas of the Periodical Squalls Causes Kiclletncnt. hOME VAH.U11KS ANOUM'EI. Tho Market at Noon lloiee Steadier nnd tilth an Upward Tcndoncr. Nnv Youit, May 6. Thr we" lowering and portootloue cloud, over Wall street this morning. Hrokers mid bsnkors hastened to I at financial itorm ecntor, knowing f. tho bind WOUlJ begin to play at the. drop of the gavel at tlio dock exchange, and each determined lobuaintaraa possible to the bead o( Ilia procession. Nobody could '" hefororonlng what history lay Just on the other side of 10 o'clock, when pandemonium pan-demonium ahould bo let loose. Tnoso 111 tho rear attained their anxious facta. Thosouut hovered about from habit, tcaroely leu anxious. Bonie, perchance, per-chance, felt their toes over the edge of tlm ilietr precipice, nut knuwlbg but that th developments of nn hour rnlKht push them clean over tho brluk, Intu tho financial pit. There wai bur-rjrltiK bur-rjrltiK and scurrying of men nnd loya diving ' here, darting out there, rushing Into thla, hurrying outof thai, cilice where their interests contrred. And ao the calm handa on old Trill-lly'a Trill-lly'a grlin clock dial crept up to tho hour when tho turmoil should begin nud another of those daya that wiari thu II rh and nerva of men, be uihcr-id uihcr-id In. Auyfoud optlmlit who (Imagined lforooenlug tint the. market might allllen at tLu outlet waa disappointed. I-very oyu waaun the Cordage, and llitro waa movement enough within ten mtntitea alter tho aoundlug of tho gong, to engage every eye. The ap. Iiolmment of rccelvcra for the Nation, ul Cordagu company Into last nlgbt waa thu occasion for n further break In preferred (look tblamorulng. It doted juatcrday at 05. In ten mliiulia after thu opening It waa 16 poluta lower at 61); It hialtitted there for a moment, then tumbled to 45. Then camu a perceptive lerrentni; In the rush to aell and more trail I net p. Cordage, common, opened at 10 Q 1. Ucutraleloctilo waa another weaic spot and III thu first few minute II broke 6 points t 73. Tho fact that certain olllclala have thought It necea- ary to lttuea statement tliat the company com-pany la all tlgbt waa vlowed with uslclorilusome quarters. At 10:15 o'clock the jrlou vaa CO. Sugar waa alio attacked, broke tu 70 anil Chicago Oasdropped to 00. Manhattan Klavalcd broke Irom 8 to 125. Considering the panto In Industrial itonk, the railroad llat held null. Mauhallau Hlevated wont down the toboggan alldo at great rale, wiping out nil margtni on a alutnp from U0 tu 1131. Tho progreta waa ilayi d at that loltit and a tally tu 120 f.llewrd. llut It alld oil again to 110. Hoon after tho ojwnlng there wero it. newalibf yitterday'a rumori. H. V, Whllu ! In trouble In connection with the cordage, lieloro threu iiiarlera of an hour ultir the opening thu aluaip In thatttock becamo tJO grint for him to land and he went down before the storm. The fact of the falluro of the great lwculator, whero going to the wall a year or so ago in a grain deal on the Chicago board af trado caused audi a sensation, waa known on the etriet nnd found lla way lulu thu dock exchange room before the formal nnnouucemoLt therein, Ac cording tu hla own itatenieut the Cordage deal waa tbo ohlef element In bla failure, but bo waa also intereited lu Chicago gas. The cordagu strangl-ed strangl-ed him, tho gaa sullocated him. lie was unablo to go on at present, though bu might get up later on, be said. Boon tueru came from lloston thu elateuionl that Francis lleusbaw A. Co., flock broken, bad failed. Nobody No-body acemid to know muoh about tin in, but It made Jlttlu difference It waa a lalluru and that waa enough to add to the fury of thu temptst. Aud to liaised the llrtt hour. Whonll o'clock chimed from Trinity Trin-ity steeple thu record alood llko this: Tho diclluo htul been uncommonly heavy nnd the txcltiment roaohtU a higher pitch than at any tlniotlucu the panlo starlid, with maiket still feveilsh. National oorUsgo bad fallen -j to 03; ii u 43. American tugar ! to 05; referred, 17 to !). Coiton OH a tj III; Nations! Cordage, common, 41 to IS); Amerlcau lobaooo llofltj. Cleveland, Cincinnati, Chi. cau and Hi. hiu o to 113; llurlluglou anil IJulucy 4 to 6iJ Chicago gaa 161 ti60; Kock Island 4('to 77J; Oeueiai l.lectrlo 22 to 68; Manhattan 10 to 115; rt'lonal l-tadOJ tolUJ; l'rtferretl lu tuUfJ UmahaStull8, Jtubber 0j to 80, Western Union 3 to 81. ..lollowlng thu aunounocmont of Whlle'i lalluru tbero wero aomu sharp , ."; y,,loaK0 K" rose 0J, Uontral lectrlc, 6, Manhattan, 4; sugar, 21; cotton oil, 4; llurlluglou .V Qulncy.'.l irs -:. f0""non, 2; prefVrrud, B. Tni roily did not hold, however. The IfnnUf."0" w"'"erlhonn clroula. nf nih ' flmor' n"eetlug the aolvcncy a J; ''?," nd Individuals.! lliast b .?ie,ock "'. tenement In bill iS. riXCl,l"K ttJ OIULWhUI, but thu Uuctuationa continued wide nnd thu prices Jumped lline and four IdU at a time, blU y priwru to V,L ""''"'"'"Hatoly folluwed by a ow.s't lT 7niW..'."riC0T '"""" lowtil, IT lolnlaln gonerol electric. 0luiugar,3Jn preferred. 7 li Man iiuttan, 4 In National 1J, a " Well, irn Un on. Tho abeuo of furlh'r fallurea had a reassuring tllect. At noon , martc WM rln aavi,llcI, ttlllo In Intensity. There wire ,ia,lnS of rlotou, bidding and Mllng'To". ever, for a tune; then action again icmno more rapid, llaiely, if n the history or tho stock exoboZj imvo audi wild lluotuatlous bicn wii. Iiessed. Ono of tho largiet bonus on the Mteet la tald Io I In troublo and cor" ui ? JM', iW."" ,l,1, ""'dlMun existed, daicd brokeiawcru throwing ovtr Hocin regardlraj of prlco and foreign liouiei wero guilty Of picking up dividend payera. It la uitlmaluJ that up to noon LonJon'a purchasia neareualed fully sixty thousand ahana 3atlug luostly of Br. I'aul. Iouls. villa and Naahvllle, and WnUih, pre. ferrtd. Thla Increase In foreign ex. chatigu caused n drop In tho aterllnj ratca to 430 G 40, Lut money continued con-tinued cloeoatll G-l-P" went. The coiitldeiico dlsplujeJ by forclgnera caud the home orator to uku couragonud a general rally ensuoJ. Maulmttanroieiromisstol'nione. ral electric from 51 to 77j uir irom 0211741. Chicago gif from M to 7.',. JUIlwnyariHUVerod 1 toB. Theac ual ralia for foreign ixi hango Uut . j nnd 81 for bankers, J day Mllst ttGf ) for domnndj 490I.lj7i lor coblia. u btcame evident tul tbero will to no gold ahtpmenta tomorrow. Money In tho meantime advanced to M ror cent. , , Then canto another thunder clap lu thu autpcnsloncf W, I. ration, and calls lor loans advatced to 40, causing tho aloika to wcnkiii again. Manhattan broke to lJi; cordage aud elcclrlo lo 72; augnr to J At 1:30 monuy bad fallen lo lb(j.', and by 2 o'clock to 0. Owing to bu.vy ollerluga ol fundi by commission housra thu itooka became comparatively comparative-ly calm. To 2 o'clock tbo salca of llsUditocka were 415,000 shares; unlisted un-listed 202,000 shares. The atooka wero then tomewhat feverish, bJt In some Instance! above lost nljht'i closing. rutrln nnd Kimball, whoso lalluru was announced at i::45, went down undur a load of Industrials. No atale-mont atale-mont Is yet made. Tho following alooki woro sold muumably for tbo account of H. . White! 81,000 Amerlcau Hugar; 7000 At3h!son; S00 Cordage; 10J Lead', 100 i:rle; 100 New York and New l'.ng-land; l'.ng-land; 60 Western Union. At 3u.ni. mouey wan easy nt 4. Industrial! In-dustrial! closed J to 14 poluta lower; railroads chmd J to 4 higher with it moro lonlldent tone to thu ilnlsb. |