The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-11

.
nr -ur >Ew roRN W WAREHOUSE AND SECURITY
.,vl.,<y-A MILLION ISvolvEp-- SUGAR MEH-
CHANTS EMBARRASSED BY RAILROAD SrEcuLA-
.In>S.
,rr,s, the New Nark Times, September W
Tnn WalI-strcet public. who live uptown
.. rf.E and downtown during the day.
,N,aurri their quarters earlier than usual
Yesterday. nearly every one having any in
,,-,.,, in the stock mlrkct hcin:, on hand be-
l.,,, ~ u'clack 4. NJ, the time Of opening
-ir >,nrN Exchange. The prominent opc-
~..taI, who usually visit Long Branch on
sunday. and rr,urn by the Monday morning
}a,t ~ the city. came back by the sunday
afternoon boat. and spent the evening ut the
Fr1A-Aycuur Hotel. anNiouSiy canNa>SinE
,N~ situation. The fall in gold, ana the ru-
,a.r> rr.Nr,liuc the prccariou> condition oil
ut',y houses in consequence OF the decline.
uc-I the incentives t. this activity on the
r.t of Wali->trcct men. the majority OF
,,.om also thought that in the unsettled
con iition o: III" street many fine chances OF
maxim. ;unury would hc afforded.
There Wa u general rush on the part OF
th, brokers 80 enter The Stock Exchange III
f3,. hour II opening. and Tor Il few minutes
:ar ulMa,t confusion prevailed. In the Gold
rnrla vMrh opens nj the same hour. there
.,,1t ,.,f-n. rapidly from the closing quota
,,u> rt saturday. the ciirct WAS imm"di-
.,t.H4 observed in the stock Board. Stocks
..u.,t...slrti with the tall in gold and in the
ty,r.,r. a sudden ami sharp dcclin" was
n,t,.j. Even tuc Vanderbilt stocks could
u,t -'"ai un under the general onslaught.
arI N,.}v York E"utrIl. Lake Shore, and
Western Union fill oil rapidly in price. The
r:i.u,r Wa started TINT money would he
,..i.tr,.-l 10 one quarter OF one per cent. per
4ay. and this story, OF course, had lis lnllu-
tu'r.
Within a few minutes, and while >pccula-
,;o,! ,,.t> al il lri.h and ii seemed uncrr-
min whether tNc bulls or the bears would
have the best rt the conflict. the news was
.nr,.I about that several Of the largest >u-
~ firms in Wall street were in trouble.
TMr>c ru;nor> were found to he true TO a GER
tAi" extent. and aided the bears i'll their
schemes 10 break the market. Besides these
ru!urr~ smother one was started that the
Mississippi. kansas and Texas Railroad Com
lrny wa> in some way mixed up in the gen.
raj rtl;r. Prices. under the influence Of all
these REPORTS. i,il 50 low that the bear clique
were enabled 10 buy in Il long line Of stocks
~ i very handsome reduction from the pre-
,a:Iln. figures OF saturday. Then a better
feeling seemed 10 prevail in the street, and,
with irw exceptions. there was general and
rapid alyaucs. in the entire list OF stocks.
The gold speculation seemed 10 lie nearly all
ON one side. and HAT was downward tor the
cutir" day tie plit.. finally closing at ll2t-
onr p,r cent lower than the closing quota
tiou- Of Saturday.
Tilf SUGAR IMPORTERS.
TIE rn.nor> which prevailed in the early
tart o.. lir day regarding the failure at GER
tain >u-ur importers and brokers became
NOR. &, finite toward noon. when il WAS said
that one Of the iriE$ Was that of Sheppard
Candy < Co.. No. o. Wall street, and that
flh"y had rut ALREADY failed they could not
hold un long Tie oil her firm mentioned lis
in 4. uh,c was that ut Francis SkIddy X Co..
~ I"l Wal. street. Tie concern las had
;Sr Yrnu.4'iun in Wall street Of being one OF
t. strongest. aud Standing at thc head OF
t.,->Ug&r trace" Mr.. Francis Skiddy ranks
o. "a millionaire, aud was reported to
A.. VERY careful and reliable in business
Transactions. ~ nearly rs couId he as
c,rtainrd from inquiries among the houses
in the street. where his paper has
trrU dl.r"I!i:rd, hc llr>t bean to get III
tcclhir several months a"o when there was
ii ,,a,rp ;igrry in the sugar market. 1t *
sad hat he bought largely at high prices.
ANT That IL" tall which cu>tlcd while he had
q h.,ly stock uu hand tcudrd 10 cr.irnp him
laryrHdiy tr Sheppard Candy WAS also
u9 t', SAM sid. ui tie speculation and Slli-
l,g,.,i corrc~rUia:m.Iv. The real reason for
ca.jr bUyiu@ >url Il I!rgc stock OF sugar was
IL The hope of creating Il " coricrE similar
Z, those projcc,cd in socks. only in differ
,r uarciilI. rui> design having failed,
"ij,rtm.y were u"; coHplctcly broken they
Mere. yfui ~ considerable Inconvenience to
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