Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-08-14
THE EVENING STAR.
I'd Edition.
Latest TelGgrans to The Star
Latest from Wall Street.

new YORK. August IA. p. m.-There were signs
OF returning confidence in stocks at one time this
attack was made on western Union the sa STOCK
"stop orders" Missouri Pacific also broke to- to s a.
The Other active shares declined In sympathy
Toward the close Western Union rallied to TAX
and nrmer tone characterized the whole market
In the nnal sales, however. Western Union run OF
ment
THE POSTS" REVIEW OF THE SITUATION
new YORK. August 14.-The Posts financial art
Gle says: The stock market opened \ to IL lower
than the CLOSE last night for the general list OF
active stocks, the largest decline being on Wabash
Sell vas at first only moderate. but was Soon In.
creased by the heavy short selling directed against
Lackawanna. St Paul, Northern Pacific preferred.
oregon and Trans Continental, Lake Shore, Union
Pacific and New York Central. The effort was to
bring out pretty large amounts OF long stock Of the
clined, carrying the rest Of the market With them
and causing considerable amounts or other stocks
to be thrown upon the market Among these
i i;soo shares. which was probably nearly al!
about 1915 O'Clock, at Which time the decline on
Oregon and Trans Continental was ~, Burling-
ton and Quincy. 2a4; jersey Central. 25a; North
Mail, 2; St Paul. ~; western Union. Il: Lacka.
wanna, N; Illinois Central. IN; Lake Shore. 1h,
there was general and very rapid recovery by II
O'Clock. ranging from to So per cent, the latter
On oregon and Trans Continental to 6lx, and
from that time until 10 O'c Ock the market con-
tinued firm, and there was an evident recovery OF
c0nfGence,n not only as regards the day but largely
also as regards the prospect for the future OF the
general market. This was In some measure due
10 the belief that the break was artincally pro-
duced, and that without the hammering OF the
bears the market would only have continued dull
and comparatively steady. This was the general
feeling up to IL O'clock at which time the suspension
OF Geo. VIM. Bal GU Co. was announced. as sup
posed In consequence OF the decline in prices OF
stocks they We're presumed to be carrying; but
within half an hour 1t was demonstrated that they
had not been carrying many stocks. There were
only $40 shares sold out under the rule for their
account, and 1t began TO appear that their failure
was probably due as much TO the fact
that they had gone short on the market
at low prices this forenoon, and that
the rapid recovery between II 80 and II O'Clock
had caused losses which, In addition to those they
had experienced on the bull side, had caused their
failure. The announcement of the failure at first
caused decline OF q to IL In the market. from
which 1t reacted In twenty minutes i to IL, the
latter on Lake Shore. At 1890 the market was
strong at the highest prices OF the day for good
many stocks. The market was strong but feveTish.
EXCITEMENT CAUSED BY THE BALLoU FAILURE.
NEW YORK. August 1.-THE failure caused in
tense excitement. The house did large business,
and its customers were principally bank pres-
dents. MIR. BaliOu refused to make any statement
other than that the failure was caused by neglect
OF customers to respond to calls for margins One
member OF the firm says the trouble Is only tenn
porary.