Wall Street Reacts to London Slump and Alabama Fever
New York reports a volatile session as gold surges to 1103 amid heavy buying while London shares plunge. Consols and American bonds slip, amid fear linked to the Washington Treaty. Pacific Mail, Western Union, Union Pacific, Ohios, Lake Shore, and New York Central lead declines. Washington hints at capping Confederate damages. proposed total exceeds direct claims by about 10 million.
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The Times Reviews Commons Debate On American Claims
The Times says the House is unanimous in repudiating indirect loss claims and notes Gladstone’s language may not persuade American demands. The Telegraph criticises American journalists and says the English Government followed the country’s unanimous sentiment, while Gladstone’s speeches are seen as indiscreet and potentially harmful.
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Steamer Colorado Sunk After Mersey Collision
The steamship Colorado, sailing from Liverpool for New York, crashed with the steamer Arabian near the Mersey. Colorado sustained severe damage and grounded off Crosby to avoid sinking, while Arabian, less damaged, rescued all but five steerage passengers presumed lost after a panic. Passengers were brought to Liverpool for transfer. PARLIAMENTARY PROCEEDINGS.
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