Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-08-21

DAMAGE 10 CorroS-rHg GRAIN CROPS n r
GALVESTON. TEX. August 2i.-Special dispatches
points throughout the state show that, except IN
few localities, further rains could be productive
Q, no nom marked q oensnt 70 the cotton crop In
extensive drought which has been the most
important factor in the injury 10 the crops. has
general thing It was too late 20 DO much good. It
Is plalL that there viii be a considerable decrease
have been in the fun senss pf the wor
a Dav OF Fluctuations In Wapl Street
rHs pEcLlNE IN DENVER AND LOUISVILLE aSn
NASHVILLE, AND THE FAILURE OF scnorr a
KNIGHT.
NEW YORK. August 2l.-The Posrs financial ar.
ticle says: The stock market during the fore
noon was very much unsettled. ructuating ana
generally lower. The important fluctuations aud
declines, however, were mainly IN three stocks,
Denver, Louisville Nashville and oregon &
Trans-ContinentaL The market opened = 10 :.
lower than at the close yesterday, the latter on
Wabash common, Manitoba, Jersey Central and
i've minutes SSnvcr declined ed 5 I per 'neis- cent.
Louisville and Nashville Ia. oregon and Trans
cent From this extreme decline there was re-
action OF ga on Denver, 2k on Oregon and Trans-
Continental,lA In Louisville and Nashville and
Central Pacific, on Northern Pacific preferred
Texas and Pacific and Wabash common. About
IL 2o'clock there was another downward turn OF IL
TO on other stocks. A few stocks were excep-
uonaily hrm, and showed advances
wien tne general market was Declining.
VIZ: Lackawanns, which advanced z, and Vest
ern lnion y. On the whole the trading up 20 1890
shows an Irregular decline OF y 10 y, with n on
Louisville and Nashville, per cent on Memphis
ana charleston and G., e., g. and l., and In on
Colorado Coal The failure or MessrS Schott a.
Knight Was announced on the board about II
O'Clock. Their business has been mainly ON tele-
graph between here and Philadelphia where the
majority OF their customers are presumed
10 be. Their liabilities are estimated at
100000 or $4,000, against which they have, OF
course, a large proportion OF available assets The
continued raidlng OF the stock market, as again
illustrated by the depression In prices this morn
Ing, has method In Its Madness" Every stock
that is either weakly held or is unmatched by ygi-
any other way In a vulnerable position is attacked
with selling or1ers, ana if any signs OF weak.
ness. or even OF surprise, can be developed it
Is hammered until the depression In prices
begins To bring out long stock. Whether
there Is any special purpose behind the raid
p 'ndent line Is not worth much; IL Is valuable 10
the Burlington and Quincy as an extension OF it's
lines to a connection with the Central Pacific. The
control OF the Denver would also be valuable 90
mon Pacific In order to prevent its competition.
But IL Is not likely that either OF these corpora
lions would try TO buy the control until the price
OF the stock had first been depressed 10 the lowest
possible point. Money was freely offered In the
forenoon at aud ~ per cent The
market for sterling was rominally un-
changed. The railroad bond market
was duh during tha forenoon. The few sales m lde
were at generally lower prices Denver and Rio
Grande Western rrsts sold AT G5 and Ca. Fort
Tennessee Incomes AT 30. West Shore aud Bun 10
SIS sold at "A, '3, y. There WAS no business IN
state bonds. Government bonds were |, higher
Tor the AS and ANS.