National Republican., 1883-08-14
THE MARKETS.
A Genuine Panic All Along the Line in the
Wall Street Exchange.
Gould Said TO He Making a Great Raid ON
the Willard Properties
Special Dispatch.

special Di6Ddtch.
NEW YORK, Aug 13.-Stocks opened at
from to 2per cent. below Saturdays closing
which in itself further raised the spirits Of
the bears, and shook the confidence of those
who had hoped for reaction last week.
Multiplied orders to sell soon knocked all
prices down 1 per cent. and by noon the
scramble TO get in selling orders was some
thing tremendous.
The cutting of about fifty Western Union
wires last night interferred materially with
the transmission of orders from out of town
correspondents and customers.
By o'clock the entire list had gone stead
lily off two or three points. Oregon Transcon-
tinental, as on last week, seemed to be the
principal point of attack, opening at 66l, and
under the influence of numberless orders 4,
sell and manifold stop orders to let "'em go F"
soon found but few purchasers at GAR, and
finally sold at 60.
Under strong sustaining orders Western
Union did not feel the intense hammering
which characterized the rest of the list gener-
ally, opening at 75l, closing at 76t.
Central Pacific, Union Pacific Erie, St.
Paul and Kansas, and Texas oil shared like
fates and sold off at tho closing about 2 and
~ per cent. Predictions for the future in
dictate nothing definite as to what turn the
market will take or how near the turning
point is at hand. Money continues cheap and
plentiful at 8 to 6 per cent, and little feel
ing of confidence on the street would, in view
of the immense short interest shove stocks up
8 or per cent. quite as quickly as they have
been beaten down.
Commission houses report increased orders
despite the howl Of the room traders. The
fact is, the outside public for the first time in
many weeks have been largely drawn into
the short side. Should prices continue TO
fall the attention of tho conservative buyers
NftlI kA Had o.. aNI
dividend stocks are selling very much below
their actual value.
BIZ associated Press
NEW YORK, Aug. 13.-Much surprise and
some CONSERVATION exist among the bulls of
the stock market concerning a steady declina-
tion of the market which has been going on
for the past week. About two weeks ago the
stock market fell with a thump, but before
the day passed it had recovered ITSELF and all
fear was dispelled. The average effect of the
depression at that time on all holders of
stock was nearly 40 per cent. Well known
brokers and bankers averred that there was
really no cause for the fuctuation, as affairs
throughout the country were steady
and money was plentiful. This Sec
ond furry is therefore deemed rs
inexplicable as the first. kilograms have
been received from Europe asking the reason
for the depression. One we'll known banker
cabled back:"Ask us something easy" Messrs.
Drexel Morgan & Co., said this morning
"We can give no other reason for the heavy
market except that there are more sellers
than buyers" II. S. F. Stanton, a stock
broker, said that the trouble can be traced di-
rectly to Jay Gould, who is endeavoring to
obtain control of the Willard stocks, consist
ing of the Oregon Transcontinental and
Northern Pacific railways and the Oregon
Steam and Navigation company. These
stocks are said to represent interests valued
at $780, 1000. The Vanderbilt stock has
maintained its position.
The Northern Pacific preferred and the
New York Central and st. Paul stock have
not been raided so as to affect their positions
The Northwestern, Lake Shore, Union Pa.
cific, and u few others have been run into
caused, it is said, by orders from the London
market. At the offices of Fisk & Hatch it wa,
said that the low prices may have attracted
orders from London. During the past week
Western Union has fallen about six points
Northern Pacific has fallen about ten points
and in fact q shrinksge is noticeable in all
real dividend paying stocks. l...5a. .t
STOCKS.
The following are tho opening highest
lowest, and closing prices of the principal
stocks for the day, as corrected by special wire
reports received by Bateman & Co., bankers
No. 1411 + street northwest: