The New York herald., 1876-10-17

about quarter 10 eleven, when II made known b
formation from Tie Associated Press Association, ana
subsequently had corroborated by The cstcfn Union
Teieeraph Company owing TO fact that the state
ment OF the Cornnodorc's death fron such sup
posed reliable credence Was given TO the rumoI
by many brokers for about fifteen minutes, wnen
contradictory statement was published The cuect on
stocks was somewhat depressing although the iuctua
in those with which Commodore Wander
bill connected not at ni extra
Ordinary. New York Central opened ut l0sis
and on the receipt OF the obituary intelligence
dropped 10 1907 1905. only 900 shares were SOLD
az these figures, however when the reiutaIion came
and tho reaction began Immediately TO take place.
Tue variation IA Lake shore was but ana 3 per cent
we're sold at 55sa. From that tune u advanced quiA
steadily, and closed at 5Iss.
Pacific Mail tell from 25 10 24ss Western Union IRON
II TO s0tS and Delaware, Lackawanna and western
from ~ to 7l's. The rcst Of the market was YER:
slightly affected during tho short space in which th
report given credit Subsequently, however. III
market recovered It's tone and closed very strong
From this IL can that the effect Of the news
tho Cornmodore's demise slight in It's force an
also that such event has been discounted on ~
street, which II certainly has Tor months.
The origin OF the bogus telegram was the subject
much bitter comment and several causes ior hendin
II were gwen by various brokers with whom hERAL
reporter convcrsed. One gentleman said that II
thought put out merely as "ieeler TO test th
effect that such an event would have on stocks
Another uggested that somebody who was short q
New York Central Lake Shore had adopted tht
plan make decline IN tho prices. while thir'
opinion was that somebody wanted TO make tho prico.
fan aud then 20 ia and buy at the low ngure
The Governing Committee OF tho Stock Exchange
until their regular weekly meeting tomorrow
A HERALD reporter called upon Mr.. Freeman. OF the
bits brokers' ana he made following statcment:-
'The FIRST | heard OF the report was a. ABOUT
quarter past ten this forenoon, when at once contra
Iic,cd IL. then tee sraphed 10 tho Commodore, who
replied, shortly after twelve O'Clock, as oilows-i
am alive and doing well better than have been 10
many months Long before received this despatch,
however the report denied officially the street
II Commodore Vanderbilt should die DO not think is
ne
The rules OF the stock Exchange which refer to the
dissemination OF false news are as folows:-
Chapter 4lo. Laws Of 1874 page $50, May IL 1874
4 Every WHO shall snow,nsly circulate
vancing the OF the public funds o. the United
Country or sosenmsn, or the socas bonds or vdsncs
Dot. Of Q, or As ssss rs ps
guilty Of amisdeneanor and snail DO punished upon con-
onmsns period not exceeding three years
s s wno ns
with intent to advance or dspreciAe the
t. s q o. on Sr
Sdsnes o deb. sy apy
market price of scld silver coin ?, bullion e
bs aajaasea guilty Of in the third
prison for term not exceeding hvo years
A TALK sfMoSToN AND PRESIDENT oRroh.
visit 10 the eighth story Of me Western Union ree
the Associated Press at work in his private office
After minutes delay the HknALD. reporter was
OF what Mr. Simonton knew regarding the bogu
telegram, the latter sated:-"lhe despatch arrived
whie was busly engaged talking over some im'
portant business with gentleman and IL was trans
mtted and contrudictcd before at liberty 10 IN.
quirc into the matter. The despatch had every ap.
pearance Of being genuine and coming AS It did from
The Rev. Dr. Deems It's contents were never dstrusted
KEroRTxR.-Dd you furnish the news TO the Gold
ana Stock tapeY
Mr. sIMoSrox-No, l do not think did as it was
branch Of that did not come under the CONTRACT
| REroarnR-wcil, how do you think that they
| Obtained tie information
Mr.. siMoyToS-I cannot tell you, but II probably
1 came through some private source We gong 10
have the matter thoroughly investigated, aud hope 10
| lind the source from which u cmanated.
RgPoRTRR-Iiow long time elapsed before the ro-
Mr. sMoSroS-I believe about twenty minutes
do fancy the scnders OF the despatch succeeded
their object US the stocks were not much DISTURBED
| by tue news
Press, and, walking down the third hoor, paid
| visit TO
| PRESIDENT oRroN.
The latter gentleman stated that he had given orders
to have The matter investigated and ho thought they
would not have much difficulty in getting at the bottom
,-ofiI
boy yetY 80,
probably got hold OF HIM II useless. how
ever, to waste much on the matter, as when We
do find the orglnators 0 the despatch We Will not
| be aue 10 punish them.
REpogTER-How IS that, Mr.. Orton?
Mr. ORTox-Because there Is law to punish .
man sending bogus despatch. 1t Is not forgery
a criminal nature, and If We do catch them we can
| do nothing with them.
! REroarKR-Dd you send tho over the gold and
\ stock tapey
| Mr. oRroy-It went first Kiernan's financial
tape and aIcrward IL appeared ON the gold aud stock
tape 1t contradcted about fifteen minutes after
| 1t appeared.
REroRTEn-Is there way to prevent such do
spatches coming over tho wires2
Mr.. 0Rroy-WelI, IL Is pretty haru thing to stop
but have given orders 10 that Office at the Now York
Hotel dispatches reporting the death OF
Commodore Vanderbilt without first notifying the
Central Office.
Mr.. DO Forest down at the door OF the Wander
b1It mansion punctualiy ten O'Clock last evening,
ana stated that the Commodore had passed very
comfortable day, and that hc ut that time sitting
up IN the front room converspg with members of ms
family. During tho evening tho afternoon paper
which published an account OF his death and an obu
nry notice read to him. He evidently IN the
best Of spirits and remarked pleasantly tnat II was
very lew men who had the privilege OF reading then
own obituary notices. Al eleven o'clock the reports
were equally rcassuring.