Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1883-08-17
TELEGRAPH|C
Wall Street Continues
Feverish and Excited.
WESTERN UNION BATTERED
DOWN TO A Low NOTCH.
why the Monopoly is Being
Slaughtered.
ONE OF OUR BONANZA KINGS STEPS
INTO THE ARENA.
His Red Shirt Haunted in Favor OF
an Opposition Line.
INTERVIEWS, STATEMENTS AND
RUM0RS AID LIB.
INTERVIEWS, STATEMENTS AND
RUM0RS AID LIB.
ESPECIAL TO THE SENTINEL.

NEW YORK, Aug. nave Dceh
strong this morning and in good demand.
Since opening the prices have advanced
from u to IL above last nights closing
rates. Oregon Trans-C Continental, North
ern Pacific, Western. Union and South
western were the strongest. After 1880
there was q slight pressure and reaction.
This was followed by . fractional rally,
and still later by . decline, which left the
prices from \ to 4 below the highest OF
the morning. Western Union led in the
downward movement, falling from S74ss
to $72N.
WALL STREET, 1870 p. M.-The most in
teresting feature since moor has been the
selling OF Western Union. The stock has
declined to SIN. No new reasons have
been assigned for the break. professional
| bears are conspicuous sellers. The general
market is firm and on the advance, with
freedom from disturbing rumors.
lao P. M.-The reason given in the room
for the decline of Western Union is hat a
| prominent dealer in privileges is selling
the stocks against his puts. Another
| reason for the decline in Western Union Is
that it is rumored from Boston that a
large loan on Western Union, involving
several millions, was called in at hat city
to-day.
Mackay and the Postal Telegraph.
New YORK, Aug 16.-The resignation OF
| United States Marshal James B. Erhart as
President and Director of the Postal Tele.
graph Company was accepted at a meeting
of the Directors yesterday and John W
| Msckay, q Nevada millionaire, elected as
| Director in his stead. During the week
| the company has succeeded in disposing
of a million dollars worth Of its securi'
ties. Over $500, 900 of this amount has
been taken by Mackay. Mr.. Fenshaw was
asked last evening how Mackay came tc
invest so largely in the securities Of the
Postal Company. His attention." said
Fenshaw, "was directed to the Posta
Telegraph scheme last Fall while he was
on his way to Europe. On his return re-
Gently the matter was brought again be
fore him, and he was asked to make
thorough investigation. This he did, ani
became satisfied that it was a good invest
ment. 1t is assumed" continued Mr.
Fenshaw, in speaking of the increased
| " CuktA WnlSA bhO L Oot0A 4SAC6A6RA Ain
received, "that if Mackay goes in as Di
rector he means to back it with hi
wealth. In this case the company will b.
q very formidable competitor II
the other Geographic companies. Mac
kay has no grudge against the West
ern Union to settle. His connection
with the Postal Company does not meal
hostility to the Western Union or it
managers. 1t is merely q business ventur
on his part, although it naturally make
his interest hostile to either Of the compel
ing telegraph companies. With his abili
ties and many facilities, it will insur
benefit to the public as it will be q bio,
struck at the monopoly. The stock Of tn,
company is not listed in the Stock Elk
change, but there is between one and tw
millions OF 1t on the market. Person
interested in it believed last night that til
backing OF Mackay would send It up to-day
II is believed that the ews concerning tn
Postal Telegraph Company was one Of tn
causes Of the break In the Western Unior
The fact was not generally known, how
ever, until late in the afternoon, and thos
who had information made the best Of It.
Russell sage ON Mackay.
NEW YeRz, Aug. 49, Russell Sag
stated to-day, when asked what he though
Of the prospects Of the Postal Telesrap
Company. "This new blood won
amount to anything. I know bot
Mscksy and Roberts. Mackay has cor
slider able wealth and his name will 60
great way in that respect. For the sake {
the stockholders, I hope they will far
better than did those who were In the Cor
Virginia and California mines with hin
I and several Of my friends we're inter
ested in them with Mr.. Mackay. TIL
great trouble with us stockholders wa
that we could not see SO far into rock a
got rich. ! hope the stockholders In thi
telegraph scheme will be better able to &c
into rock than I was IN my scheme. But
eupposiDg the Postal Company takes Il
the Southern merchants and bankers, an
the American Rapid Company also form
. new system, won't that make . formids
BILE rival9 1t might prove Q rival Xix
some We have had before. All Of thes
have come to rs, however. and have BEEF
anxious to sell out, and w have accom-
modated them. So far I don't know wha
course We shall take In case new rival
spring up"
The Telegraph Troubles.
NEW York, Aug. 49,. The Western
Union officials said this morning that 8
circuits in this city were interfered witt
last night by throwing fine wires over tn
regular wires. The Superintendent sait
he had taken back seven striking operator
this forenoon. They were taken back q
the same salaries formerly paid. It i
rumored that . number Of striking opera
tors will meet to-day for the purpose o
taking concerted action in Withdrawing
from the Brotherhood, in order that the
might honorably apply for positions ct tn
office Of the company.