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Don't Like the Big "N" System. NEW YORK, Nov. 3.-The Post says: We understand the Union National bank, one of the banks which has many stock brokers for customers, has decided to go out of the national system, and several other banks have the subject under consideration. The recent action of the comptroller of the currency, respecting check certificates, is assigned as the cause of the change.
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ALL QUIET IN WALL STREET. DECIDED CHANGE FOR THE BETTER IN STOCK FOR RUSH CERTIFIED SPECULATIONCHECKS. The excitement in Wall street has subsided and many brokers expressed their satisfaction yesterday that the heavy decline in prices for the past few days had not resulted in a disastrous panic. In looking over the transactions since Monday last and noticing the fluctuations, which ranged from one to twenty-nine per cent, financial men were astonished that a panic had not resulted or that more failures had not occurred. Before the close of business on Friday it was evident that there would be a change in the market. Some of the heavy operators, who were accused of breaking down prices in order to secure stocks at low rates, were discovered purchasing very heavily on Friday afternoon. and the other brokers made up their minds that they had been satisfied and that the market would soon go up again. Their views of the situation turned out to be correct, as at the opening of business vesterday there was a marked change for the better in stock speculation and the depression of Friday seemed to have vanished altogether. Large orders to buy were received by brokers from country customers, and this had the effect of advancing prices from one to nine per cent as compared with the closing quotations of Friday. Although the entire list shared in the improvement the advance was principally in coal and telegraph stocks, in Erie, St. Paul and Sioux City, St. Louis and San Francisco and Northwest. There was a slight reaction during the atternoon, but the market closed firm. The number of recorded transactions during the day was 580,000 of which 126,000 were Eric. The heaviest decline in the principal stocks from Monday until Friday morning, when the lowest point was reached, was as follows:-Delaware and Hudson, 29 per cent: Wabash, 13 Erie, 163: Erie preferred, 171: Canada Southern, 1314: Wabash, St. Louis and Pacific, 18: St. Paul, 12% Delaware, Lackawanna and Western, 171/2; New Jersey Central. 19% Union Pacine, 19: Hannibal and St. Joseph, 1434: Hannibal and St. Joseph preferred, 1934: Kansas and Texas, 15%: Pacific Mail, 10% The Vanderbilt stocks declined very little as compared with the other securities. During the afternoon there was a great rush of messengers to the "brokers' banks" to have checks certified, and the excitement to get at the head of the line became so great at the Union National Bank that the officers had to send for the police, and it took s sergeant, roundsman and nine patrolmen to keep the crowd in order.