The New York herald., 1874-12-22
A STOCK SENSATION.
MI. Wright, the Wabash Operator, Expelled
from tho Stock Exchange.
FAILURE OF FYsHE & coMINos.

Wall street awoKe yesterday morning In rather
feverish condition. and the early visitors fUll
OF conjectures as to the result OF the days bust.
ness. There were many who prophesed sudden
death to abssh as they confidently stated that
the stock would sell at Is before neon, giving as
reason the utter inability OF the company to pay
any dividend; and again there were others
who whispered mysteriously, "Buy q hun
dred shares OF T. W. at the market price,
1t Is q good purchase" Their advice was
genuine, as the more you asked them the more
confident they became OF the luture success OF
this western railroad. Pacific Mail was handled
with no pattes de rnouche as after lively deal
during the irst couple or hours the bears Knocked
It down over point. The Western Union clique
were also on the Qut rue for dollars and cents as
they circulated story about an alleged antago-
nism between western Union and Atlantic and
Pacific, In which the former came out victorious.
The story said that
WESTERN UNION AND ATLANTIC AND PACIFIC
had been In the habit OF dividing ONCE room at
the principal hotels and paying an equal share in
the expenses, but that recently the western
Union had undermined the interests Of the Allan
tic and racihc and were paying rental OF $1,000
per annum for the exclusive privilege in a certain
hote. up town.
The Wright scandal OF Saturday was In every
body's mouth yesterday, and, whether directly
concerned or not, all became more or less In
terested. MIR. H. R. Wright, the gentleman IN
question. was credited with direct connection
with several leading houses ior whom he was said
to have been acting and MS reckless sales OF
wabash on saturday were reported to have been
entire stock list.
THE GOVERNING COMMITTEE
OF the Stock Exchange took the ma ter In hand at
an early hour, and sum noned Mr. Wright to
he1nra
young specnlator does not appear to have been
az all lntimldated by the subpoena Of
alacrity, and favored them with history
Q his transactions that rather assonished his
OF the whole affair, and commenced by announce
ing tnat on saturday morning when he entered
the Board ne was CARRYING $500 shares OF Wabash,
count was overdrawn some $3.50 and he
held no ma gin to cover any losses that might
accrue from his stocks. On being cross examined
Mr. Wright said that some 700 shares that ne was
carrying were Wabash, and thinking himself a
''SECOND DANIELo
believed he could manipulate the shares and not
only save himself from ruin, but make fortune
besides He pictured to his stern u lges the ather,
on his exertlons and with ruin staring in the
face how apt one Is to walk in any path that gives
perate chances' was, in TACT, the motto adopted
by Mr.. Wright, and consequently he walked into
ing $500 shares OF wabash in order TO steady
the market. His purchases however, did
not appear IN to have the q desired effect
bougnt wildly. hoping to check the rapid deprecl-
alton OF the stock The result, however, was not
what what the daring aentleman antic, pateo, as the
through TOO many pancs to be affected by sucn q
transparent transaction Mr.. Wright, In extenua:
ton OF his action, said that the STOCK he held had
been originally Lought from
MYTHICAL Mr.. COHEN,
who had left the shares on his hands, saying they
should have been sold out before the margin was
The Governing Committee heard the statement
OF Mr. H. r. Wright with exemplary patience and
suited together and passed the following preamble
and
RESOLUTION:-
Whereas Is appears from Mr. Ii. r. Wrights state.
men that Saturday last he bought 100 shares OF
sn s % S Vas hcfsSy sas
heavy ISs on & as nesefors TO- na IA
PEELED from the New York Stock Exchange.
The gossip over the Wright case had hardly sub.
sided before communication came into the
Fyshe & Comlngs, OF No. 81 Wall street, to meet
their liabilities. They laid their failure to the
door OF Wright; but as on SATURDAY there had
with the latter. which had been denied by them
in written communication, their case
@ se sfdrss 1
failures current In the street, all OF winch con-
nected them more or less with the expelled
Wright had been clerks together and that the
former had an equal interest with the latter in
all the transactions he effected on Saturday. OF
given TO the stories that ny around the street on
sensational occasions.
There Is a strong impression among the solid
men OF Wall street that great deal OF the recent
activity IN the stock market is due to . ieverish
speculation, somewhat oil the Wright order, that
has been INDUCED IN OF late. They anticipate
more regular c0ndtt0n Of business since the Gov
ernlng Committee have made such marked ex-
ample OF such like action.