The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-08-26
STIRRING UP WALL STREET
ANOTHER DAY or ACTIVITY IN THE
SALE or COAL STOCKS.
Security Holders EmptyinR their Tin Boxes
Rally nj Noon that sent Prices Up again
Some Fortunes Mado and some Lost.

Security oiders Emptying their Tin boxes
Rally at Noon that sent Prices Up again
Some Fortunes Made and some Lost.
There were heavy operations in the
stock market yesterday, and much excitement.
Early In the day panic seemed imminent.
Dealings generally within q day or two have
been based on real sales by country holders,
who were late In learning Of the break in the
coal combination. Those nearest New York
sold their shares on the next day for what they
could get. Those living further away did not
get alarmed so soon, but their stocks were here
In force yesterday. But for the heavy short in
terest in Delaware and LacKawanua the New
Jersey Central would never have rallied. There
have been two corners In New Jersey Central,
and during the last ten days borrowers have
been Obliged to pay from one-half to one per
cent. day for the use OF the stock. This natu
rally caused timidty among the bears In Della
ware and Lackawanna, and when adventurous
holders formed a little combination to prevent
the stock from going lower. those who we're
short at once took advantage Of the desire Of
their country customers to unload. They had
seen how those who had gone short OF New
Jersey Central had suffered, and so they began
to cover at once. Delaware and Lackawanna
was raised six yer cent, and its fellow sufferers
were booefted In the reac ion.
The situation in Wall street is almost unparal-
leled. since the panic Oi 1873 there has not
been such wild and indiscriminate throwing
upon lut IldIhet Ol investment securities, Wnlcn
within n short time were quoted far above par.
Yet there have been no failures ON the street.
On the contrary, the brokers have made money
steadily. As broker laughingly said, -" This
loss doesn't fall On us 1t falls on the widow and
orphan. and the old gentlemen with standing
col lars VINO walk down broadway about II
o'clock In the morning" ono OF the clerks Of
tue Safety Deposit Company's office at Broad
wav and LIBERTY street asked yesterday, u" What's
the mstter down In " all street, We have had
the biggest rush here TO DAY hat we have ever
had. Everybody Is taking his securities out,
No heI tn Vail Ina. iftaa
referred TO were undoubtedly coal stocks.
Ine stocks Of tue coal roads were very largely
held by Residents along tnelr lines as invest
ments. They attracted attention by seeming
prosperity aud large uiyidends. Inc case Is
mentioned uf the mily OF the late Mr.. Stearns
OF Elizabeth n. j., who was once Superntend-
ent of the New Jersey Central. 1t Il said that
the whole OF the estate was Invested In the
stock of the New Jersey Central, and that the
income from 1t has been $1,000 year so tnat
comparative poverty. A broker who was carrying
large quantity Of coal stocks, chiefly for resi-
dents OF New Jersey says that ms customers
lost S2uc.OOO and over In The scramble, but that
he has recovered somewhat for them since.
Rumors are on the street that the leading
men Of these coal operating companies. aud
among them John raylor Johnston Of the New
jersey Central, and Samuel Sloan Of the Della
ware aud Lackawanna have been making short
sales. One OF Yesterdays stories was that Mr..
cured by stocks, and that the loans had been
called In and the stocks thrown on the market
The older W all street men, however, placed no
confidence in these rumos.
A broker said that although the market as
very feverish yesterday, II was n hopeful sign
when II closed better than IL opened. lhe
speculators had made money, but not as much
as they had lost.