Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-02-18
NEW YORK.
Wall Street at Its Old Tricks.
A Huge Hoax Involving ThOui-
sands,

- AuSO AAOcaA IhfOAhAhS LhOu-
sands,
The Bears Beginning 90 Work ON the
J3dIis.
New YORK, Feb. IA great fraiid
was perpetrated on the Stock Exchange to-
day; the greatest in the history of the liz
stitution. After the seesIld call, an indi-
.yidual handed to one of the pages Of the
Board letter addressed to Moses II.
Wheelock, Vice President, which the page
delivered to the gentleman named and he
read the same to the Board, which was as
follows:
WESTERN UNION TELEGRAPH Con-
PANY, NEW Yokk, Feb. II, 1S74.-Moses
III. WheelOck, ESD, Vice President, New
I Tork Stock Exchange: As required by the
rules Of the New York Stock Exchange,
you are hereby informed that the directors
OF this company after mature dellberation
and acting as they believe in accordance
with the ultimate best interests of the COM
pany, have decided to increase the capital
stock of this company from S4l,O13,4lO to
S5O,O00,0O0. The proceeds of sale of the
additional stock, together with the pro-
ceeds of sale of 81, ,295, ,235 Of stock lately in
the possession of the company will be ex-
pended in repairs and improvement Of the
present lines and the extension Of the lines
Of the company to nearly all the poStofhces
in the United States, and for the establish
ment of line to California and Mexico.
The directors beg to state that while the
establishment of new lines may delay for
little the expected dividends 60 stockholders
they express a confident hope that by thus
taking possession of the whole field the
ultimate status of the stock will be in no
way touched, and that reasonable dividends
can be paid at no distant day. Your truly,
WILLIAM ORToS, President.
Hardly had the reading of this letter been
finished when one Of the pages OF the board
was handed
Another Letter,
addressed to the President, which was
read by that gentleman as follows:
TOLEDO, WABASH AND WEsrEHN RAIL
wAY.-New York, Feb. II, 1S74.-Vice-
President Of New York Stock Exchange:
In accordance with the rules of the New
York Stock Exchange, you are hereby noti-
fed that at the expiration of thirty days
this company will issue 100000 shares Of
additional capital stock, increasing the
common stock of the company from S15,-
100000 to S2J,000,000. The proceeds of
such additional shares will be used for the
purchase Of new rolling stock and engines
and for repairs of the present rolling stock,
for constructing new bridges, for building
an additional double track, for the purchase
of steel rails, for obtaining improved termi-
nal facilities and for other similar purposes
Of the company. Very respectfully,
Id. Cox.
The reading Of. these letters caused
Great Excitement
on exchange, and Immediately there was a
general stampede to sell stocks, especially
Western Union and Wabash. Amid the gen.
eral confusion some members of the Board
had the good sense to examine the letters,
and being familiar with the signatures of
Messrs. orion and Cox, pronounced the
same forgeries. The officers of the ex-
change Immediately sent the letters to the
officers of the Western Union Telegraph
Company and the Wabash Railroad. The
Wabash letter was returned with the fol-
lowing note at the foot:
"The above is not genuine. Mr.. Cox is
in Toledo. There has been no meeting.
Neither is this Mr.. COX's signature.
7. W. BRIGGS, Transfer Clerk.
Mr.. Orion sent the following reply:
NelC York, FEB. 17.-H. G.. Chaplain,
Esq, President Of the New York Stock
Exchange: / have Just learned that an an
nOuncement has been made in the Stock
Exchange that the directors of the West
ern Union have recently voted to increase
the capital stock to Sj0.000,000. This an
nOuncement has no foundation in fact.
No meeting Of directors has been held for
several months, nor has the matter
of an increase of the capital stock of
the company been subject of consideration
al any meeting of the executive committee.
Respectfully WM. ORION, Pres't.
Detectives are already on the track of
the perpetratOr Of these fOrgeries. 1t is ex-
pected that a handsome reward Will be Of
fered for the detection of the fOTgers.
The Vice President was Blamed
by some of the members for reading the
letters without first consulting the Presi
dent of the Exchange, and it is stated that
this matter is under discussion in the Gov
erning Committee. Every effort viii be
made to ferret out this audacious swindle
ON the Stock Exchange.
The Commercial SAYS: "The most suSpi-
ciOus feature of the nefariOus transaction,
is Mr.. Wheelock assuming to act as Vice
President, and reading the forged cOmmu-
nicatiOnS from the Western Union and
Wabash Offices, when he is nothing more
than Chairman of the Floor Committee.
WheelCck is an old member Of the Stock
Exchange, and has sustained a reputable
character up to this time. 1t behOOyes the
board TO enquire into his dealings in these
stocks recently, as well as to find out who
have been late buyers and sellers for them
selves and for other parties. Tie sales of
Western Union stock after the forged let
ters were read amounted TO $1,000 shares,
and of Wabash 10000 shares.
That SNOWFALL Affair.
johnson who after shooting man Sun
day night in HOboken was severely beaten
BY the crowd, died last night of his inju-
rieS.
The Brewery of Death.
The Superintendent of buildings left for
Philadelphia last evening to examine into
the case Of the brewery which recently fell
there, and cost so many lives. There are
several large buildings in this city erected
on a similar plan.