Rensselaer Republican, Volume 25, Number 37, Rensselaer, Jasper County, 11 May 1893 — BLACK FRIDAY. [ARTICLE]

BLACK FRIDAY.

Wall Street l’anlc —.l Bay of Great Excitement s C d I s l ~ . - -V ■-* * Jl* apd excitement on the New York Storik Exchange. The failures of S. V. White, Eeiria A Kimball and ,W. L, Patton. & Ho. were announced. Large amounts ofaeocks worr sold out f6r the account of these houses and the avalanche of offerings created a more panicky conditionA>f affairs than has been evinced since the time Of the Baring panic. According to those who passed through the Black Friday troubles and all the financial upheavals since then, there never has been a time when stock exchange houses were so completely demoralized. London became a heavy buyer of dividend securities, and late in the day funds became decidedly easier. ■ Conservative financiers believe that the worst is over. Drexel, Morgan & Co. and. the Vanderbilts are credited with using their influence to avert disaster, and it, wgs through their efforts fbat the market rallied.