Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1883-08-17
ENClTIiuENT IN WALL STREET.


Failure OF George WIN. Isaiiou n Go.
VA. ,.. +, ,..-, w., 10,
Nh" i"""' h"s' "a "o",s' VIM 10"
Ion ~ Co., bankers and brokers oil New
y ork and Boston. SUSPENDED to-day. Their
,iobi,,,cs ara estimated n, from $500 600 ic
80 onn m, 49,.
9'oo'ooo' Inc failure ca"se" great eAc,'e-
mcnt here anti at Boston. The Evening
Post saws the excitement in Wall street
,.,. r-u, A.. r.,,... No. 49,, ,oo,
""i'n '"no"'" NV ''h"'' mas "'' D'''
cqlallcu Tor years. many lmiu nrohers
who saw the wild rush from Broad street
,o,,ord Wal, s,,oo, h.,iov.d ,ho wore, ,ro.
c.''' '"'
uic'cu yesic'"ay ny ''ic oo"is 10 " nu"'
collapse of the market was about to happen.
The rumor that house rated among the
millions was about to fail was believed to
refer to some house which had been Trying to
sustain the market and had found itself I'M
failure would have been most disastrous
The feature OF the market in the last hour
was the decline OF western lnlon. inns
was puzzle TO the street, as the STOCK mad
been pretty well sustained all day. II was
understood that lhc support OF inc
Western Union heretofore has been
Jay Gou.d, and the sudden and large de-
cline caused great deal OF comment. Inc
net result OF the days business however was
an advance over the closing prices OF last
night for a great majority OF the stocks.
Most operators are inclined to the Delicf that
the market has touched bottom, at least 1oi
the present, though it is apparent that it isl
now more subject 10 manipulation IMAM al
any previous timc lor year. ana lhough
therc Is nothlng In thc general state OF Dusi-
ness to cause very important further decline
some violent fluctuations are iiNely 70 De caus-
cd yet by artiiielal means. fredk. H. lalcott
saiu nc looked upon to-uay business
rs naiklh9 inc ueSlhnins Oh leVerish
PERIOD, during winch STOCKS might Sink low
er Than ut present followed by strong
upward movement lasting an winter. There
was no reason IN inc world Why pane
should be feared the business Of The country
being in excellent condition and the outlook
Tor large exports oil gram being unparalleled;
Brayton Ives ana not nelleVe the laliurc OF
BalIou Co., would alltcl prices unless IL
was to send them up, 1t Is SAD that some
brokers VINO have been calling upon Gus
toners Tor margins win great energy VIII
have much difficulty in producing the stocks
they are supposed TO be carrying, II called
upon 10 10 So.
a conservative banker SAID we are sK.t- |
lng on very thlh ICE. IL We SOP We are III |
uangcf 0! brelhlng thronIb. H. Is my OPT
mon mat The trouble is not ended yet, ana
that II VIII require prudence 10 AVOID serious
financial troubles. While Ball0us failure
may not at present ailect the market, 1t Will
iaicr on:
Inc commercial says "lhat other houses |
IMAM lalions are III difficulty There Is not the |
least DOUBT. Two are certainly sad TO be on
inc ragged edge, Both have been heavy
bears and Their suspension, ii it comes, Will
not make much mischief All theI
banks are iuliy, protected, having
strengthened themselves the past week. a
Comnerclai reporter called ON several promi- |
ncnt brokers ms afternoon TO ascertain the
eject Oh inc ballou failure on the general |
market They all agreed that the trouble |
VIII be very slightly felt outside the firm it. |
sell:
nusual ACTIVITY Ill the market and the
calling III "i loans bl banks hardened thtl
money market, but alter the wants OF brok- |
ers were supplied money was offered ut
ana per cent, AS compared with last
hlshts closing prices stocks are TO l. per
cent hlgher, Central l'acl'lc, Northwest, 81. |
naui Louisville ana Nashville, Missouri
iaclhc, Kansas and Texas, New \ DIRK Cen |
iral, oregon lrahScontincntal, Pacific and
m"nnsn oon',' ,i oeii'G prominent III 'he M
a., NM, ir, NC"s ",',ii'Syon dau Gun
y yo ~ ~ 49,, ''I "os''in nlun
p,i oVn, W. i'c si'.s oi s'oens
go ahnna ~ 'nI Initial iist a.i'oun'eu W o.o'
- "'Nn.' VIM VI" ho' ie"'e ,uc