The Evening critic. [volume] (Washington, D.C.) 1881-1885, 1882-07-19
CONGRESSIONAL INFLUENCE
On the New York stock Marietta
Circumstance Connected with the
Northern Pacific Job.

There can DO no doubt that there arc
members OF Congress who havo moro than
common interest in the way stocks go. There
is porceptible to n not very acute vision
movement now on foot between New York
stock brokers and holders OF Northern Pacific
to unload their interests, on account OF pro-
spective legislation TO be enacted by Congress,
and there are, as has boon intimatod, reasons
fer believing that members OF Congress have
interests In the arrangement.
It is generally conceded among the Repro.
sentatives that the lands granted the Northern
Pacific Will BIO declared forfeited by this or
lands will cause the bottom to completely fall
out OF Northern Pacific stock, as the
Real value of the Stock
is based on the immense domain OF choice
lands which have been granted by the Govern.
ment. With these facts staring tho holders OF
this stock in the face, II can DO readily seen
that they would at once adopt a scheme to
boom tho stock for the purpose OF unloading
and escaping the crash.
THE ChITic is in possession OF printed pri.
vato letters Issued by nrm o. New York
which they call the attention OF their CUSTOM
ers to Northern Pacific stock advising It's pur-
chase for various reasons, chief among which
arc the
Predictions Made by Rufus Hatch
that Northern Pacific Will rlso above other
high.prlced stocks and remain there's and the
TACT that tho Northern Pacific, having n land
grant equal to an empire In size, and which Ia
growing rapidly In value, must push up Its
stock and hold II there, giving the Northern
Pacific q far brighter outlook year hence
than any other road, &c. The letters ospo.
cially advise purchasers TO hold the stock, and
state, incidentally, that they (thc brokors) do
not mako tho Recommendation to purchase
this stock in aid OF any clique. 1t Is stated on
| good authority that more recent moves by
these brokers are In the same direction, and
purchasers OF this stock arc again advised,
and pointing TO tho recent fovorlsh rise OF
| few points MS an indication that 1t is
wise Investment.
There arc several reasons for concluding that
this 10 n movement from those holding North
| orn Pacific TO unload, and that either the
| brokers or holders of stock arc
Acting in Concert with Certain
Members OF Congress.
| Tho first letter bears ddte worry near that on
| which the majority Of the House Committee on
Judiciary agreed to adopt Mr.. Townshends
| report declaring n forfeiture of Northern Pa
| cifc lands. II Rufus Hatch authorized tho
| brokers TO credit him with tho prediction that
| Northern Pacific VIII rise, he, being n bull In
this stock, had n purpose In creating the i'm.
| preston sought by quoting him, and that pur-
| pose can only be that a bull movement Will
| Congressional secret may unload at n profit,
| then get "short" and go down with tho tide
when the forfeiture is declared, thus
ScOOpinE in the Chips
| In both movements. The connection OF Rufus
| Hatch with this especial instance Is not In
cllned TO inspire confidence In those on tho
bull side, Notwithstanding tho last feverish
| squirt has given them point or two.
The appearance OF these advisory letters on
tho heels OF tho conclusion of the Judiciary
Committee TO declare n forfeiture, and the fact
that It is unusual 10 call attention to land
grants, arc indications which arouse. sus.
grants be declared forfeited, but also that
Congressional acts directly influence the stock
market long time In advance.
The circumstances arc very suspicious, at