The times. (Owosso, Mich.) 1882-1897, 1883-11-02
NEW YORK LETTER.


defeat and evidently feels very sore
over it. / met several other Repub-
lcan leaders from Ohio and they
are very sore on Sherman. Said one of
them: at is just such men as John
Sherman that cost us the state. They
took no interest in the campaign,
they contributed nothing to the
legitimate expenses of the contest
and let things drift. But it is good
lesson to us and will teach us the
necessity of minding our business"
"The Democrats of this state"
said member of the Republican
State Committee of New York, "are
making the same mistake which we
made in Ohio. They have the fight
won before it is begun. Now we
will have a hard race of it this fall,
and l confess the chances are de-
cidedly against our carrying the
state. But | say this, and the returns
after election will substantiate it, we
will run the Democrats so close that
they will scarcely have enough
ground left to stand on for the Presi-
dental campaign"
SIS the President taking any &C
tive interest in the campaign in this
stated" "He is, like a good Repub-
lican, doing everything to help his
party along, but he has too great
sense of the dignity of his position
to enter the arena. Mark my words.
Next year President Arthur will be
one of the strongest men for the
Presidential candidacy. His many
good qualities are becoming daily
more and more apparent, he makes
no enemies, and he is in every sense
of the word fitted to be awarded with
renewal ofpublic confidence"
Such scenes as characterize the
Stock Exchang last Saturday after
noon, will not be forgotten for many
a day, and during this week MANY
firms and many individuals will no
doubt be compelled to close out.
The bears have been holding high
revel since July last, and danced on
the proatrate bulls in manner to
make their bones crack Night after
night their leaders would meet at
the Windsor Hotel, and there IN
secret conclave determine what Sc
cur:ty next to assail. Nearly the
whole list has been gone through
with, and one after the other has
been hammered down. The Wander
bits one day undertook to maintain
Lake Shore, they succeeded for one
day, but the next day a united as.
sault was made upon it and it
dropped six points. "The power
and daring of these fellows" said an
old operator to me, sis simply won
derful. Why if the devil were to
come mp with his pitchiork to sup.
port q stock they would all jump on
the pointa of the fork and dull them
in less than DO time" That under
these circumstances an enormous
amount of money was lost by many
and won by very few is evident.
There is a story current that
man, who after having made a for
tune in the street retired, came back
again about two weeks ago, and !
leaving check for million and |
quarter, ordered his broker to buy a
certain security which he thought
was praportionately low, and which |
in his opinion could not be screwed |
down further. At the end of ten |
days he ordered his broker to close |
out, and all that he received back |
ont of his million and quarter was |
$4,000. Another party had q weak
ness for "Oregon Trans" He start
ed with Ss5o,ooo. Last Friday he |
borrowed $4,000 to make good his
balances. The money had all gone
10 put fat in the bears.
For the last few weeks the Willard |
roads and Northern Pacific in par
ticular had been the special object
of the hostility of the bears. Every
thing went well until last Saturday. /
when Mr.. Willard and his party ex.
ecuted coup d. etat by which they
forced the price Of Northern Pacific
up II points and. compelled the
bears to disgorge. The scenes that
arose are simply Undesirable. Men
rushed about like beheaded chickens
trying 10 save themselves, The
sight reminded me of black Friday.
1t is of course useless for me to give
you detailed description, for the
telegraph has done that before my
letter will reach you.
1t is now believed that the back
bone of the bears has been broken
and that prices will advance. There
is one especially bad feature of the
bear regime, which it is well to point
out. 1t has revived the bucket shops
and clerks down town have been