New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-22
EFFECTS ON BUSINESS.
WHAT Is SAID At TIE STOCK. PRTRoLEUM. PRODUCE

WHAT Is SAID At HE STOCK PETROLEUM. PRODUCE
AND OTHER EXCHANGES.
At the Stock Exchange tho strike an old story
| Yesterday. A few rumOrs IN regard To the plans OF
| the strikers were floating about but they had nc
great inhuen0e on the course of the market, aud
business moved much as II did before the strike
was made. Some brokers complained that they
could not communicate with their country Gus
toners as freely n before, while Others declared
that they were suffering no great Inconvenience. 1t
IL probable that both opinions were influenced in
some degree by the pccunary interests of tho bro
ers.
At the Petroleum Exchanges the managers of the
Western Union telegraph offices stated that they
were getting on fairly well. In fact, their forces
were able 10 handle all the business offered. This
however was because there had been consider
able falling OH in the number of messages received.
Part of the decrease due II was thought, to the
shortage Of operators III the oil regions At the
New-York Petroleum Exchange the Office OF the
American Rapid Telegraph Company was still
closed The Western Union Office had one operator
and clerk, besides the manager. Usually two
direct wires arc worked to Oil City, exclusively
for the transmission OF quotations and the other
for commercial business. Yesterday all the WORK
was being done over one line Quotations were re-
ceived regularly. The falling OF in the Bradford bu,i
ness from tho Exchanges was heavier than that in
The Oh City business. The manager said that the
business done was equal to an ordinary duh days
work Al tho Consolidated Exchange the reduc-
tion in business was estimated by the Western
Union manager at 80 per cent
The effect OF the strike on the petroleum sprcula-
ton it ~ difficult to measure. The transactions
yesterday at the two Exchanges amounted less
than j. 800 900 barrels. and on FRIDAY to 100000
barrels although prior to the strike the market had
been in ate of continuous excitement and extraor
binary activity. The testimony of brokers uni
form that largo cessation of tho usual orders from
out-oftown places has been caused by the possibility
of delay to which messages are subjected Pur-
chases by investors have been checked on account
of the uncertainty to which tho market
is exposed by the situation. Spectators are not
disposed TO operate for fear that decided move
mentin prices might take place and rush OF orders
follow and blockade the wires In such emer-
geDcy customers might not be able TO reach their
brokers with telegraphic orders with the prOmptl-
tude necessary for successful scalplng" of
prices on fluctuations. Fear IL expressed that this
condition of affairs may be aggravated INTO extreme
duness should the strike be prolonged
TIE PRODUCE AND COTTON EXCHANGES.
At the Produce Exchange almost no business was
transacted, because of the impossibilty of sending
and receiving messages. There was no essential
change as regarded the number of teegraphers. A
prominent Official of the Exchange said: There is
no use denying that matters are in extremely
bad state here. We received no messages until III
a. M, and the two blackboards which
yesterday were twice covered with figures
bear only few scattering quotations
to-day. Members dare not transact business III con-
sequence. We have had Chicago communications
through the Postal Telegraph Company only. The
state OF affairs IL exceedingly bad. and the members
of the Exchange are expressing themselves freely
against the Western Union Company sympathy with
the photographers IL marked here so much So that
subscription for the strikers started here to-
day and many signatures were re-
ceiyed. The majority here believe that
the wages of telegraphers should
be raised, tor their work requires intelligence and
great aptness. The manager is about the only
struck"
A similar state Of things was said to exist at the
Cotton Exchange. The clerk who makes out the
daily report SAID that everything in chaos"
Thursday night reports. which should have been