New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-20
EFFEUTS UN ITIU EnOf'''-'
ADVANCE IN THE PRICES OF sToCKs-PErHoLHV"
SPECULATION CHECKED


ADVANCE IN THE PRICES OF sroCKs-fsi'"I"O
SPECULATION CHECKED.
Tho feors of speculators made the sWch
,narlset nusuay active during the morning. noui'.
and they were realized by the pnblc anhouhoo"0.'
of the strike. There was apparently an iDS''n'
nauSe AZ if the market drawing n long, nos
breath. aud Immediately after ward the pr'oe' =.
stocks began to improve. Western Union was nv
tho most active stock on the list 1T rapidly leu IN
the first two hours TO 77st but II steadily rose
the afternoon to 1883 which was "'
openjna price. The extraordinary oeeh"o9
i'm Canadian Pacific and oregon i"'ns-
continen tai stocks were not attrouteu 10 'no
era nh troubles. The upward movement IN western
Union was followed however oy tne "no'0 ,"
let and the buIk of the early losses was nearly re-
covered at the close. - ~.
Tho teleoraph operators 10 the Long Room iets
THAR tables when the signal for the strike was
givsn with the exceptlon Of those OF the BANKERS
and Merchants com oany. This was the only lido
omen during the afternoon, although Two or to'o0
operators were at work in the western onio"
Office In Broadst. There was no interruption l" '.
work of the Gold. and Stock telegraph
COMPANY in disseminating the prices OF STOCKS u"
the "tckersn This company is under tne oon'ro.
of the Western Union. which ownes majority VI
its stock but the nine operators on the hoor Oh inc
Stock Exchange remained 1a"u'"i
THAR emnlovers 1t was reported IN wan
Street that the Western Union othcers bao oruoieu
these men to report at tho general otnces after the
close of business at the Stock Exchange ana that
the onerators would refuse to obey the orders.
There was no founda ion for the report, 1t is under
stood although those who chose 10 WORK
oftar bours were free to do So
One of the nine mon was transferre'
temporarily to the Mining and National Petroleum
Exchange which had been left short handed by the
strike. -
The following letter addressed to the president
of the Stock Exchange by Joel b. ErhardS presidents
of the Postal Telegraph Company was read from
the rostrum early In the. day
In the event OF strike of telegraph operators tne
Postal Telegraph Company will forward any MESSAGES
to Cnicago your Board its members may deem urgent
such perfect order will he 10 short time ana tne
company will not agree to deliver with tne nor
Will 1t be responsible for errors put tue hno 10 ~ ~
service Of tho Exchange. as far as IL goes
President Eckert said late in the afternoon that
the company had done considerable business for
the members of the Exchange in accordance with
this letter. The liue, however, was not ready Tor
business and if the strike should be ended in day
or two he should withdraw the privilege. The mes
sapes sent over the line transmitted by the
company's peculiar system or by Morse INSTRUMENTS
according to circumstances.
The effect of the strike was severely felt at the
Petroleum Exchanges. At the Consolidated board
all the photographers, about eight in number had
left At the New-York Board the regular force IN
the Western Union and the American Rapid ofhces
was reduced from nine to two. The operators VINO
receive the quotations from OIL City. although they
are paid by the Exchange. were men,
bers of the Brotherhood. and on the
general signal they quit their work. Teegraphic
NTH WA
interrupted Occasionally dispatch would come
through giving the quotation Of petroleum certif-
Gates in Oil City Bradford. But the brokers. who
add to the usual activity OF business by operating
for the changes of the day found their occupation
gone in the absence of regular quotations from the
oil fields The out-of town orders of the commission
houses were cut off and the trading in this city.
after an active morning. was reduced to shadow
of the usual DAYS dealings. The brokers faced the
situation as good naturally possible, but there
was bitter complaint among, them at the damage
caused by the suspension OF business.
The STRIKE" said y. Mehlen, prominent petro-
leum operator, is regard generally with regret
1t is thought to be shame that the telegraphers
should 20 out and cause practical suspension OF
business. AS to their demands, the sentiment IS
mixed. Many persons. however think that the
Western Union we'll afford to pay the higher
wages asked. There's so much water in tbs com
panvs stock, and 1t has paid such handsome divi-
dends, that many members think the company In
| excusabIe in not granting the ADVANCE.
L.. H. Smith, president of the New-Iork Ex-
change SAID that the strike had caused great
interruption OF business he did not think It's
effects woLd be serious. however. and the business
that was now DELAYED would come IN later when
the strike had ended.
Business at the Coffee Exchange was slightly
affected by the strike. The Cold and Stock Tele
graph Company furnished the usual city quotations
and the dispatches which the Exchange is accus-
toned to send o. Baltimore were forwar ted by the
Merchants and BankerS Telegraph Company. The
serenity OF the Maritime Exchange was not much
disturbed, the marine wire was working. AT the
Cotton Exchange little business was doing AS 1t
was impossible to get reports on the new crop or
to receive out-of-town orders There was no panic.
but the superintendent said that II the strike con
tnued the results would be disastrous.
At the Produce Exchange the market
dropped z cent bpohel when the strike
soon after and the market closed firm but dull The
Gold and Stock Company furnished the Chicago and
ST. Louis quotations to the Exchang..
The operator at the Ship News Uttice struck, but
Captain Lewis borrowed General Hancock's
operator for the afternoon. and the operators
the Sandy Hook line and at FIRE Island did not
strike ship news through all right. Great I'M
easIness felt at Castle Garden on account OF the
strike of rhe operators there superintendent jack
| son said that It would cause much annoyance and
loss if the were not able communicate
with their friends by telegraph.
THE RAILROADS NOT AFFECTED.
OPERATORS AT WORK AS UsUAL-No FEARS OF A
STRIKE.
No apprehension is felt by railroad men Of strike
of the operators on the telegraph lines connected
with the roads. While most OF these lines are leased
from the Western Union Company, the operators in
all but q few cases empc NJ directly by the rail-
road companies. At stations who're the commercial
business is too small TO warrar tie telegraph COM
panes in establishing separaoe oiL3s the BUS mess
is done by the railroad operate H. Is not believed
that the railroad operators who are c,emoers of the
Brotherhood will at least for the prsSent be called
upon to respond to the strike except in 50 far to
refuse to do commercial business for the telegraph
companies. No interruption of the regular movement
of trains is therefore expected.