El Paso International Daily Times (El Paso, Tex.), Vol. 13, No. 108, Ed. 1 Saturday, May 6, 1893 Page: 1 of 8
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Times
Thirteenth Year No. 108.
El Paso, Texas, Saturday Morning, May 6,1893.
Price Five Gents
We Have Just Eeceived
* large and varied assortment of SUMMER LAP ROBES at
arioes that defy competition.
Oar stock of Saddles, Harness, Fire Arms and Ammunition
*s “Al” in every particular. You are cordially invited to call
and see us. Yours truly,
El Paso Saddlery©
400 EL PASO STREET.
R. F. Jotirisoii,
i Wholesale Liquor Dealer -
Sole Agent For
SARATOGA RYE and BOURBON, G. H. MUMM’S CHAMPAGNES,
YELLOWSTONE RYE A BOURBON. P. A. MUMM’S RHINE WINES,
/AMES E. PEPPER WHISKIES. DR. ALEXANDER’S NATIVE WINE
And all the products of the
ANHEUSER-BUSCH BREWING ASSOCIATION.
Also Proprietor of the
El Paso Bottling Company.
Manufacturer ot Soda, Sarsaparilla, Viohy, Seltzer and All Forms of Mineral
Waters.
4 K. MOREHEAD. President.
JOSEPH MAGOFFIN, Vloe Prest.
J. O. LACKLAND, Cashier.
J. H. RUSSELL, Assist. Cash.
STATE NAT’L BANK
ESTABLISHED APRIL, 1881.
A legitimate Bunking Business transacted in all its branches. Exchange
*o all the cities of the United States bought at par.
Highest price paid for Mexioan dollars.
Edgar B. Bronson, Pres. Ohas. B. Eddt, Vtoe-Pree. Wm. H, Austin, Cashier.
El Paso National Bank
United States Depository.
Capital- • • • •
^orpins and Net Profits
Bank of Juarez,
MAX MULLER, Cashier.
Highest Price Paid for Mexican Silver
$150,000.
$75,000
T.H. Springer,
FUI^NITUI^E AND CROCKERY,
N. Stanton and St. Louie Streets, El Paso, Texas.
fooeeeeeeeeeeeeeeeeeeeWMM
n
♦
♦
< ►
^ We keep our cards before your eyes,
J We are sure it pays to advertise,
* For we want it known by whoever buys,
♦ That we’ve crockery and furniture of every kind,
I Lamps and trimmings to harmonize.
X Sideboards and tables and chatra likewise,
4 At bargains to oause yon great surprise.
You'll come and eeethem if you are wise. ] ’
We are striving to please and tell no lies, o
For we’re in the prooessioD with enterprise. < ►
On us you’ll find no trace of flies. *
105 8an Ail ton io Street, El Paso, Texas
L. B, Freudenthal & Co
JOBBERS OF
roceries and
-EL PASO, TEXAS.
G
drv gooHCG
TEXAS
1 >
HOUCK & DIETER
Irqported and Doiriestic
WINES & LIQCTOES
La Flor de Mexico Cigars.
Sole Agents for
Wm J. Letups Brewin
Pabst Brewing Co.
Co, St Louis
WILDJCENES,
The Commercial World is
in a Bad State of
Fandemoninm.
MORE BREAKS IN STOCK.
The stock Exchange on Wall Street, New
York, In a State of Panic-Mr. S. V.
White. • Latf, Seller of Stook Privilege,,
Made an Aaalgnment.
New Fork, May 5.—There were low
erlng and portentioue clouds on the
Wall Street horizon this morning,
though the sun of nature was shining
brightly through a wind washed and
wind blown atmosphere, that was
stereoptioally dear. Brokers and bank
era had not idled over rolls and coffee
at breakfast. Every man with a cop-
per’s interest in speculative fields knew
that the band would begin to play at
the drop of the gavel at the Stook
Exchange, and each one was anxious to
be in the prooession, and dose up,
where elephants should be walking. In
every office in that hustling communi-
ty the clattering tioker was the center
pin about which all revolved. Nobody
oould tell before the opening what his-
tory lay just on the other side of 10
o’clock, when pandemonium should be
let loose. Those who were in wore
strained and anxiouB faces, while those
who were out but hovered about from
habit and were soaroely less anxious.
In the streets men and boys shot past
each other, diving in here and darting
out there, rushing into this or hurry-
ing out of that office, where their in-
terests centered. And so the hands of
old Trinity’s grim dook dial crept np
to the hour when the music should
begin and another day that wears flesh
and nerve of men was ushered in. And
what should be the record of the next
five hoars that lay between the open-
ing and dosing of that pane emoniao
pit, where fortunes of men might be
tossed about like kelp on a stormy
tide.
Every eye was on Cordage and there
was movement enough in the picture
within ten minutes after the booming
of the go ng to engage every eye. The
appointment of receivers for the Na-
tional Cordage Company at a late hour
last night was the occasion for a fur-
ther break in preferred stock this
morning. Preferred dosed at 65, but
within ten minutes after 10 o'dook it
lost its balance and plumped down 15
points to 50. There it caught on a jot-
ting rock for a moment, but the rook
was knife edged and Cordage preferred
slipped its brief hold and rattled down
the preoipioe until it touched 45. Cord-
age common opened at 19 to 21. Five
thousand shares changing hands at
these prices Meanwhile along a rag-
ged dedivity of alarm there were other
interests tumbling and scrambling
against the face of the situation. Gen-
eral Electrio showed another wehk spot
and in the first few minutes ot busi-
ness this stook broke 5 points to 75.
The fact that certain of the officials
lave thought it necessary to issue a
statement that the company is all
right is viewed with suspicion in some
quarters. At 10:15 the stook was sell-
ing at 69. Sugar was also attacked and
broke to 76 while Chioago gas dropped
to 60. Manhattan sold down 5% to
.21. Considering the panic on the in-
dustrial group the general list held
fairly well.
Manhattan started from the mark at
126 and scuttled along the slide a little
more than ten jumps to 115%. Then
1 urning about it climbed up again to
120. There it stopped, but slipped down
again, this time to 118.
Meanwhile colored lights were being
turned on outside the Stock Exchange
building. Before 10:30 o’clock there
prices was uncommonly heavy and the
excitement reached a higher pitch
than at any previous time since the
panic started. The National Cordage
Company preferred dropped 25.
to 45; American sugar, 20%
to 65%; the same, preferred, if
to 6f; American cotton oil, 8 to 31; na-
tional Cordage, to 15%; American
tobaooo, 4 to 58; Cleveland, Cincinnati,
3% to 1H8%; general electric, 22 to 58;
Manhattan, 10% to 115; national lead,
6% to 26%; national lead, preferred, 1
to 68; New England, 3 to 25; Omaha. 5
to 113; rubber, 6% to 39; Western Un-
ion. 3 to 84; Wheeling and Lake Erie
preferred, 4% to 45.
THE WHITE FAILURE.
The panic culminated with the an-
nouncement of the failure of 8. V.
White. Following this some sharp ral-
lies ocourred. 9% in Chioago gas, to
68%; 5 to 62 in general electric; 4 in
Manhattan to 119; 2% in sugar to 68;
4 in ootton oil to 34; 2% in Quincy to
86; 2 in Cordage Company to 16%; and
5 in preferred to 50. The rally did not
hold, and speculation was excited and
feverish owing to the circulation of ru-
mors affecting the folvenoy of other
firms and individuals. At 11 a. m. the
market was still feverish.
Not until 10 o’clock did White real-
ize that an assignment was neoessary.
No idea of the extent of the failure
oould be learned at the office until
11:10 a. m., when White made the fol-
lowing statement to the press:
“The unexpected drop in all securi-
ties has made it impossible to realize
on securities or to oolleot margins to
meet my engagements.
[Signed] S. V. White.”
When seen at his office after the an-
nouncement, Mr, White said: “If you
want to know the reason of my sus
pension yon need only look at the
drop. The terrifio drop in the market
has used me up and I was forced to sus-
pend. I have a large number of out-
standing contracts which must be
dosed out The drop in sugar was one
of the chief causes of suspension.”
Mr. White was a large seller of stock
privileges and his present troubles are
largely due to that.
WALL STREET DRIFT.
Theodore Havemeyer, vioe-presiden;
of the Sugar oompany, states that
there is absolutely nothing in the af-
fairs of the oompany that would war
rant the break of this morning. The
oompany, he said, had a very large
surplus and is a very large owner of
money.
Of the assets of Henry Allen & Co.,
Assignee Hamill says the statement of
the condition of the firm is not ready
and probably will not be given oat to
day.
Sohuyler Walden, who was carried
down by yesterday’s break in indus-
trial stocks says he has nothing to say
as yet about his affairs.
At the office of Ladenburg, Thai
mann &Co., it was said there is not a
word of truth in the report they had
given the Cordage Trust sterling cred-
it to the amount of 12,500,000. A mem-
LYNCH LAW.
Three Men Charged With
Mnrder Hanged to
a Tree.
THE LYNCHERS ESCAPE.
Suicide of an Unhappy Girl—The Hoe
Printing Praee Company win n Suit—The
I>owaiter DuoheM Still in Jnll-The Greet
Bicycle Knee-The Petal Flame®.
had been a renewal of yesterday’s ru
mors that 8. V. White was tangled up
i n weeds direotlj below the spot where
Cordage lodged on the brink at the
close of yesterday’s oyolone. It was
found that Whito was straggling di-
reotiy in the pathway. And there was
also a smell of Chioago gas in the
vioioity. Cordage had tangled and
bound him fast so that he oould not
move, and it was with Cordage that he
was stricken down three- fourths of an
tour after the opening of the storm.
The rumor was quickly followed by
an offloial announcement that
White was down. White’s sheet
went through the olearing hense all
right last night and and his checks are
certified. Soon there came from
loston the statement that Francis
lensaw and Company, stook brokers,
bad failed.
“Who are they?” many asked; but
nobody paused to answer, and a major-
ity had little time to investigate. It
made little difference, however, it was
a wipe oat, and that was enough to
speed the tempest.
And so passed the first hour, When
llo’olook chimed down the exoited
street from Trinity's steeple the re-
cord, as nearly as oould be made np
from rapidly changing figures, wee this
way: In the first hour the decline in
ber of the firm says the oompany had
given a credit of 37,500 pounds, and
the firm holds ample collateral against
the loan.
Deputy Sheriff Young today reoeived
an attachment for 158,865 against the
National Cordage Company in favor of
Paul L. Thebaud and others. The
Sheriff served oopies of the attachment
on a number of Wall Street brokers.
President Waterbury, of the Natioual
Cordage Co., said he bad not applied
for a receiver for himself individually.
He would not 6ay whether or not ap-
plication would be made for one. He
said bis situation becomes more em-
barassed through loans made to the
Cordage Company, as well as his at
tempts to support, the stock The re-
ceivership of the oompany will in a
measure relieve him as well as his as-
sociate, Mr. Wall, of pressure from the
Cordage obligations, thus strengthen-
ing their condition.
In reference to the decline in Gen-
eral Electrio stated that a special dis-
patch had been reoeived f rom Pres-
ident Coffin which said: “That Gen-
eral Electric had no pressing liabilities,
no oall loans outstanding, and had re-
cently paid 82,000,000 of obligations.
He does not find collections slow and
the company’s factories are as crowded
as ever to keep up with orders.”
The decline in Manhattan was at first
attributed to the reported failure of
negotiations with the rapid transit
commissioners for proposed exten-
sions. The oompany, it is said, would
absolutely refuse to comply with the
conditions imposed by the commis-
sioners. When, however, the failure
of White was announced the cause of
the deoline was apparent. He wan
heavily long on stock
At 1 o’olock the battle had been on
three hoars and many of those in the
early engagements had gone outside
to the setiers’ camps for food. They
heard how London and other centres
were lying back in comparative safety
and absorbing the frnlts of their sac
rifioes. The|result was a change for
the better in the stock market and a
steadier tone characterized the next
dealings. 3 he foreign baying was felt
Albuquerque, May 5-Last night
three men charged with mnrder were
taken from the county jail at Los
Lunas, county seat of Valencia oounty,
twenty miles south of here and hanged
to a cottonwood tree near the jail. The
parties were all natives, Antonio Mar-
tinez, Antonio J. Barela, alias Garcia,
and Victoriano Aragon. The parties
engaged in the lynching were all na-
tiveb and secured the prisoners by pre-
tending to the jailor that they were
constables with prisoners for commit-
ment. The lynching was the oulmlna-
tion of a series of unpunished orioles
involving rape and murder. No oiue
to the lynchers.
Suicide of an Unhappy Girl.
Chicago, May 5.—Olive Plows, aged
19, and sister, Mercedes, aged 15,
daughters of tbe prominent confec-
tioner, Edward Plows, registered at the
Leland Hotel, several days ago, under
assumed names, yesterday at-
tempted snioide by morphine. The
younger will recover, but Olive died
this morning. Their reason for the
act was that their home life was un-
happy.
R. Hoe A Co. Win a Salt.
Chicago, May 5,—In an opinion filed
in the United States oirouit oourt by
Judge Woods, in the oase of Robert E.
Hoe against the Goss Printing Press
oompany of Chioago, the rights of com
piainant in oertsin patterns covering
folding mechanism in printing presses
were sustained and respondents held
to have been guilty of infringement.
A deeree was entered accordingly.
Th® Great Cycle Race.
Chicago. May 5.—The Boston toOhi-
bioyole relay race ended this morning,
when Bliss and Van Sioklen reached
here at 8:45 with a message from Gov-
ernor Rassell of Massachusetts. The
Journey was completed in a little less
than 122 hoars, or nearly 22 hours be-
hind the schedule time. The delay
was due to bad roads.
Still In Jail.
London, May 5 —Sir Francis Jeune,
President of the Court of Probate, de-
dined to interfere in the Dowager
Daouesu of Sutherland, imprisoned in
Holloway jail, charged with oontempt
it court, having destroyed a document
she was permitted to examine by order
of the court.
The Fatal Flame*.
Vienna, May 5-The town of Kowat,
Poland, eighty miles south of Warsaw,
was visited by a destructive conflagra-
tion. Tbe fire spread rapidly, consum-
ing 116 honses, including an infirmary
and asylum. No less than eighty per-
sons perished.
An luaurauce Company Fall*.
San Francisco, May 5 -The State In-
vestment and Insurance Company were
attaohed by creditors today on claims
amounting to 8100,000. Assets of the
oompany are about 860,000. Expensive
compvition aud hazardous risks are
the oause.
[Continued on Seoond Pag*.]
Dangerous Reservoir.
Lima, Ohio, May 5—The Laramie re-
oervoir, covering about 6,000 aoree of
ground, located at the intersection of
Shelby and Mercer oonnties threatens
to burst its banks. Tbe Laramie re-
servoir is a feeder of tbe Miami and
2tie canal.
Presidential Appointments.
Washington, May 5.—The president
has made the following appointments:
Richard Dalton of St Louis to be sur-
veyor of the port of St. Louis; Harry
H. Kaln of Mississippi to be oolleotor
of the port of Vicksburg, Mississippi.
Another Australian Hank Failure.
Melbourne. May 5.—The Colonial
Bank of Australia, situated at Alexan-
dria, in tbe oolouy of Victoria, sus-
pended as a oonweqnenoe of a general
feeling of apprehension in regard to
Australian banks.
Murder and Nulotne.
New York. May 5—Mrs. Fanny Kora,
of 101 West 68th street this afternoon
gave poison to her two young children,
Edwin, 12 years old, and Florence, 6,
then shot them and then shot herself.
All were taken to Roosevelt hospital.
Jackson Park Again.
Chicago, May 5 —Taokson Park will
be opened Sunday just as it has beea
for the past aix months. There will be
no formal action taken and there will
be do offloial announcement made, but
the gates will be opened.
.
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El Paso International Daily Times (El Paso, Tex.), Vol. 13, No. 108, Ed. 1 Saturday, May 6, 1893, newspaper, May 6, 1893; El Paso, Texas. (https://texashistory.unt.edu/ark:/67531/metapth540810/m1/1/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Abilene Library Consortium.