The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-04-19

NEw YoRK, April ia break of thirty.
three points in the stock of the Louisville
and Nashville Railroad Company to-day
made q sensation in Wall street. Nobody
seemed to know why the movement was
started. There seemed to beno substan.
tial reason for It, and none came out
publicly until after the close of business,
and then 1t was not Of sufficient import
ance to justify the great fall-being the
attachment of some Of the roads property,
as explained below, on a suit involving
less than s25O,OOO, in which the Nash
vile and Chattanooga road is equally
concerned. The stock OF the latter was af-
fected 8 per cent only.
Things were ripe for raid on Louisville
and Nashville, however. The threatened
completion Of the Chicago, st. Louis and
New Orleans railroad had bothered hold
ers OF Louisville stock some days. Then,
1t had been whispered around that when
the first reports Of yellow fever in the
South were received the stock would de-
cline.
Atthe opening Of the market, therefore,
to-day 1t was given out that yellow fever
had been discovered in New Orleans, and
that the Chicago. st. Louis and New Or
leans Road were TO shorten their line SO
as to compete directly with the Louisville
and Nashville. This started the down
ward movement 1t was well under way,
when Charles Woerishotfer and Ad Com.
mack, heavy operators, rushed into the
Exchange with pack OF their friends at
their heels, and began 10 sell the stock
right and left at any figure offered. They
had made the discovery that most OF the
stock in the Board was held In small lots
by operators who had small margins un-
der It. The stock, under this new excite
ment, began to bob down two and three
points at clip.
Then came the final stroke OF the day in
the shape OF rumor that the City Of
Louisville and several counties in Tennes-
see, that unitedly hold S3.00O,000 OF the
50 600, 900 capital stock, had thrown 1t on
the market. There was no stemming the
downward movement after that, and It
went down until ll5 was reached. Then
Messrs. Woerishoffer, Commack and the
rest who had gone short OF It at 1856 COW
cred their shorts and pocketed 20 per cent
profit. Alter that the stock recovered half
Of the loss Of the day, closing at 1870.
LOUISVILLE, RY.n April ls.-The ru-
mors and stories circulated in New York
on Saturday to depress Louisville and
Nashville stock, are pronounced here as
false. No cases OF yellow fever have oc-
Cured at either Memphis or New Orleans,
both cities being remarkably healthy.
The projected combinations and building
OF new roads to checkmate recent move
ments OF the Louisville and Nashville
Company, are purely sensational.
The statement that the city Of Louis.
vile would sell her stock Is entirely with
out foundation, the Legislature having
defeated the bill authorizing the sale.
The attachment OF the funds Of the Louis
Vile aud Nashville Company and the
Nashville and Chattanooga Railway, at
the financial agency OF the company in
New York, Saturday, is believed to be q
part OF a conspiracy to depress the price
OF stock.
It is not believed that any claim for
damages can be sustained, even at the
end OF many years Of tedious litigation
which the parties bringing suit will now
undoubtedly encounter. The business
on the L. { n Railroad continues unex'
ampled in It's history, and while the busi-
ness on the Eastern lines has materially
declined, that on the L. & n, is steadi'
ly maintained.