Lewiston teller. [volume] (Lewiston, North Idaho) 1878-1900, 1883-08-23
THE BREAK IN Stocks.

STOCKS IN " all Street, ~. i .. ha' '"f-'I
declined. and that the Northern Pacifc, /
O. X. & \. Co, and Oregon Transconti- |
mental, had suffered more than others
seemed to strike this western country
with much SURPRISE and as the ore
CONAN says, reports hac gained currency
in Portland, that Henry Willard had
failed, which reports the Orego"'d" Fat I
" denies, and which the public generally
are not prepared to believe, unless there
has been some sudden Withdrawal of the
German capital from the support of Mr.
Willard. OF course it cannot be expect
cd that We here in this remote locNlity,
can more than speculate upon the causes
Of this sudden decline. The telegram
attributes this decline to the movements
Of Jay Gould, and charges that he is at
tempting to Gus. Willard from the control
Of his system, including the Northern
Pacific and: the other two roads over
which he presides. A previous allega-
ton bad appeared in some Of the papers
east of the Rockies, to the effect
that the Billings party had regained the
majority of stock in the Northern Pacl-
&c, and that at the next meeting of the
board, Mr.. Willard would step down and
out, aud that either Mr.. Billings or some
one whom he might name would be in-
stalled as president, and that vicc-presi-
dent OAkes had been aware of this for
some time, and had been dilgent in re-
moving Mr.. Wizards friends from re-
sponsible. positions on the road, rrepara-
tory to the change that was brought
about, in the management Of the road,
If this be true. wherein does Jay Gould
cut anyi6gurc in this decline Of stocks.
Just at this time when the road is to be
opened through to the Pacific, when the
stocks would be expected to be advancing
instead Of receding? True it is said that
Gould unloaded some Of his stock at IS
add under. But If the German capital
lists have the confidence in the Northern
Poetic that has been claimed for them
how can or could Gould disturb that con
fdence, .and deprcciate this stock to so low
point in 30 short time? 1t may be tina,
heavy ownerslare breaking this stock down
to frighten the small men and induce them
to unload, while the larger stock holders
will gather it..all in through;their brokers
and thus gobble it, and soon send it W
to it, former standing and make BIZ
sum. IF the stock is inherently good
it ought to be good and advancing just al
this time when the road is to be opened
to through traffic, and when for veal
at least the road is liable to receive in
passenger and freight traffic more largely
than at any other time, as at the present
and for some time to come, the road viii
have no direct competition to the north
west. But from another stand point tn,
situation may with reason be considered
1t must be admitted that for month.
pastssthe stocks. Of the Northern Pacific
the Oregon Transcontinental, and Of the
0. r. Il N. Co, have been inflated fal
beyond what the business would bear
and all upon the..faith in the distant flu
ture of these roads. The o. r. 4 N
Co., have made money rapidly, and to I
great extent, the showing Of the receipt
Of this company have given coloring t.
the other companies, Much Of the CAPT
tel which Willard has employed in sx
cess Of what the o. II. l. N. Co. hal
earned, to progress his enterprises ha'
been obtained FROM his German friends
andsolely upon his representations, without
any personal inspection Of the country
through which the enterprises extend. Re
Gently some Of these have visited the the
atre Of his operations and looked upor
the situation for themselves, and they
have made their reports to others, ant
for ought we can tell they may have moi
viewed the situation in SO hopeful /,
light as Mr.. Willard himself, and una,
have in some important casr, deter
mined to unload some Of their stock, ant
that this has produced the panic. Tn
telegram says: "Heury Clews was sske,
as to the special meaning Of the drop il
Wizards stocks, and being various rumor
Of trouble with some of the holders. III
said: i think the great trouble will
the Northern Pacific and TIE Oregon
Transcontinental, is, that part Of tn
country has been growing too fast. l
means that they have 5000 miles of roa,
to . very seanty population, as ssains
6000 miles in New York State with i;
population Of 100000" We PIE
Sume this 5000 must include NOT onl,