New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1871-06-23
TIE WARS OF TIE BULLS AND BEARS

TIE ROCK ISLAND COLLAPSE-W0oDWARD DE-
NOUNCED, AND FORMAL INVESTIGATION
THREATENED-THE STOCK MARKET YEsTER-
DAY.
In one part of the field in Wall-st., yester-
day. there in progress active readustment OF the
lines OF the opposing forces shattered by the exraord
nary encounter OF Wednesday, while in another battle
threatening be only less disastrous in its results than
that over Rock Island waged in Lake Shore stock
The day busy and the prospects too omn US to
permit many to attend the great yacht race The genera
drift Of comments upon the Rock Island affair was
violently denuneatory Of the principals concerned III
IT, Woodward was alleged TO have deliberately
"pundered" the street Of from s5OOOOO to sOOoooo'
and in doing so TO have remorsely broken down the
dozen smaller firms dependent upon him. lie
was pronounced coincidence man" OF the first magnl-
tude The basis OF these allegations Is the OLD story
that while employing set Of brokers to run up 'he
stock TO prices which when speyers was bidding 100
for gold on "Black Friday" intended to be
paid other brokers rapidly selling for the clique to
bona Gde buyers making il actually game Of heads
win tails You lose" The "pOOl" paid out nothing; but
received large sums in possession Of which the members
Of il failed"
An incident of the affair was developed yesterday
which to illustrate very fully the tactics OF the
pool :" broker had borrowed 800 shares Of Rock
Island stock from one of Woodwards men, and on Tues
dav afternoon was peremptOriy required to deposit
large amount of money 10 meet the fictitious rise IN pce
caused by the pool he sold the stock at early hour
on Wednesday, and then demanded the return Of the
amount put up as "margin," but was told, I'VE
have failed" He brought suit. and yesterday
a shers officer went to the safe-depost vaults under
the Stock Exchange building to seize the contents Of the
box owned by the "faed" broker; but the box was
found to be empty The victim then attached the bank
account OF the slippery broker, cOngTstulang himself,
meanwhile that he first in the field, and had still
fair prospect OF recovering the amount OF which ne
claimed TO have been robbed Many similar cases are
presumed 10 have occurred growing out Of tine poors
system OF buying on credit and exactng cash on sales
Though such talk has never heretofore amounted 10
anything it appears to be quite seriously proposed
to make thorough investigation Of the late corner
and hold TO strict account those found to nave Deeh
concerned in the swinde. Woodward is said 10 nave
failed" under similar circumstances four times during
the last five or six wears One SAYS If the money mar
ket had happened tight this time, the crash would
have swept half wal-st 1t must be nade aconable to
play games Of this Sort and the Board OF Brokers must
sift this affair TO the bottom" Another says, lts
all the fault Of the Secretary Of the Treasury whether
he knows it OF not he Is always playing into the hands
OF these reckless and INSCRIPTIONS men, When, last
Winter money needed by the community through
out the country he boarding 100000; but now
when don't need it, he has thrown out until there
Is only 100000 in the Treasury, and every facility Is
afforded for such transactions this in Rock Island"
Another stin: But he makes money so easy
that people must find the new bonds the
best investment" To this 1t was replied: "But
he makes gold up by this corner and now you will
See presently these will make another fracas in the
gold market that will shake the street than ever"
While during the ull that prevailed in some quarters,
this vein Of moralzng INDUCED in, there was in
others constant hustle account Of the fluctuations in
Lake Shore. Early in the day this stock began to de-
cline and seemed likely to make another wreck but the
Vanderbilt party rallied to its support and the disaster
was avered.
There were apprehcnsiOns in Chicago among
the friends Of John Tracy President Of the Chicago,
Rock Island and Pacific Railroad and the Chicago and
Western, that he among the unfortunates in
Wednesdays operations in the New-York Stock Ex-
change; but The Chicago Journal yesterday afternoon
said he was on the winning side.