Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-10-16

Especial Dispatch to the Baltimore American. |
New YORK, October l6-12:50 a. m.-For
little while after the opening of business this
morning, the stock market was feVerish and
unsettled, and prices continued to decline, lndl-
eating that "Bluc Tuesday might be eclipsed
by Indigo Wednesday.
The advance this afternoon was l to %,
ing, more remarkable fluctuations than usually
occur in one day. 1t is generally believed that
Vanderbilt largely Influenced the advance by
getting into his possession several million dol
lars to protect his stocks. Many persons be-
lieve the story that Vanderbilt to. day drew
dividends on over forty million dollars Of Hud
son River and New York Central and that he
has arranged to sell Sl0,OO0000 Of Central to
German bankers, intending to use the money
for bull campaign. 1t is not improbable either
that be has commenced to pay the loan made
by the Union Comany to the Lake Shore Rail
road, which will enable the company to 60 on,
because he has found that non-payment OF loan
has seriously hurt Lake Shores credit Van
derbilt can always be trusted to do what his
direct pecuniary interests demand. 1t is asser-
ted that he will enter the market at once with
the determination to carry up his stocks--NeW
York Central, Lake Shore and Western Union
and that he has all his plans matured to put
them at the prices prevalent before the panic.
It is reported that the release Of iniunctlons
restraining the creditors Of George B. GriDnell
& Co. and George Bird Grinnell & Co. from
selling stock held as collateral will put upon the
market from eighty to one hundred thousand
shares The feeling tonight, though much better
than last nights still unsettled, and widespread
distrust continues. On the whole, however, there
is good reason to believe the worst is past.
Well informed operators think that the process
of forced liquidation by large holders is nearly
over, and that most of the stock that has been
tied up by the Griunell injunction is held by
those able to wait for better prices before reali
zing.
The outside investors are improving their
chances to buy stocks. The vastly increased
business of all leading East and West lines is
having part of its Legitimate effect Oh intending
purchasers, 10 ordinary times the mere fact
of ten per cent. increase of receipts, showo IN
twenty-five different railways last month, would
be felt at once in the stock market, and would
advance values at least FIVE or six per cent.
Eight or ten leading dry goods firms say they
feel strong, and able to weather the storm. The
firms that are weak will be helped through by
the banks, who are determined to furnish re-
sources to merchants npreference to brokers'
The present system of transactlng business
by the banks enables the Clearing House Com
mittee to know just what each bank is do
ing, and one bank yesterday that had been
carrying large load Of stocks, was forced to
throw them overheard, which contributed very
materially to yesterdays panic. Collections
from the West continue to Improve, and will be
an increasing source OF strength to the mer-
chants.
PROPERTY SALEs.-The following property
was sold at public sale on Monday: 6l2 acres
of the Ellzey farm. to VIM. Beverley, at $50
per acre. 50 acres, in the suit of Otley VS..
Humphrey, sold for $50 10 per acre. S. H.
Garrett purchaser The house and lot in the
case of Watson VS.. Watson, 81, l00-J. T.
Watson, purchaser. The Birkitt Hotel iD
Hillsborough, Sl,000-Lydia Underwood, pur-
chaser. In the case of Smith VS.. Everhart,
Al acres of land at sl35O,-W. B. Moore,
purchaser; aud 81 acres at So 10 per acre.
Nathaniel Prince, purchaser Lacy VS.. Swart
store house 10 Aide at 500, and GO acres of
land at Sl27 per acre,-Mrs. A. f. Palmer,
purchaser.
IRISH CATHOLIC AssoClATIoN.-The dele
gates of the Irish Catholic Benevolent Associa-
ton were welcomed by the St. Louis delegates at
ST. Patrick's Hall in St. Louis yestesday, after
which the different societies formed in line aud
paraded the streets. They were reviewed by
Mayor Brown and the sity officials After the
parade the convention assembled at st. Pat
rrick's Hall, Hon. Dennis Dryer IN the chair.
Mayor Brown was introduced and made vel
rocnnnHod