New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-25
Oyster Bay Core. Long Island. June 10, 1851.
UyFOUNDED DISrRUST IN VAIL STREET
NO REASON FOR DIsQUIETING RUMoRs-NR. VAN
DERBILT's OFFER.

NO REASON FOR DISQUIETING RUMoRs-NR VAN
DERBLTs OFFER.
Wall Street has been flooded for two days
with wild rumors which have not been confirmed
The feversh condition Of the stock market has been
shown 10y the readiness with which all suggestions ~
disaster have been received truths. The financial III
tegrity of some Of the most prominent firms and persons
in Wall street has been attacked without When
the have become pointed they have denied
prompty but the dangerous rImOrs have been those
which could not be contradcted, simply because they
were vague and inpersona The stock market
has felt the power Of these anonymous stories
stocks declined materially Monday. As soon ths
fears of brokers and spectators had been somewhat al
ayed they were seen to be without any substantial
foundatiop-tho mere hgments OF dream.
The stock market yesterday was not unusually activs,
but In the early dealings IL was somewhat unsettled.
Gradually prices improved, and in the hour OF bus
mess they advanced with great confidence. The
pected failure old and respected house had no per-
cephbe effect the market because st greater disas-
tfrs had been predicted Matthew Morgaa's sons have
e"' a,boug Pgent"'y s IN the Stock
i is understood, by large losses IN stocks and bonds
There were securities TO be sold for 1t
the Stock Exchange. however and the announcement Of
the failure caused NO excitement. The course OF tho
prices recorded al the close Just before H. fack
awaBna was not the most active stock but II showed the
Io6 and closed only q below ia highest point The
IN tn As IN other stocks were frequent and
close an advance OF AS per cent western
Union telegraph continued to lead tao
from OH TO 52s closing strong az the highest price
The granger stocks recovered nearly the whole OF their
losses on the previous day. Northwestern rising per
eeut to SO aud ST. paul nearly much TO 62S. New
York Central recovered 10 gals eosiag az 9s and Lake
Shore 10 "a a, closing at "a The Improvement was
universal AID 1t ranged from fraction TO oVer4 per
cent
Among the many rumors recently circulated was
tnat william H. Vanderbilt was large seller Of stoess
p paS fsr' . tos d'Sss Monday lbs
Tho following extracts made from correspondence be-
tween Cyrus W. Field and Mr. Vanderbilt Mr.. Field
wrote To BIT Vanderbilt os june % thus "a prominent
bear broker is reporting that arc acting with the bears
aud nave been selling large amount III your stecks since
your return from Europe. This have deued and have
your arrival here" Mr. Vanderbilt replied: Your note
received glad you sent H. as II gives opp0r-
nnity TO deny any rlimors concerning me. 1 viii give
81 900 for each share OF stock OF kind with which
am connected director. that have sold within tho
last six weeks think ess safely say ak months, but
you have II above just as viii stand by IL. Tsess lies
and cannot believe Mr. said go notwithstanding
Mr. - says 80. There uust be mistake somewhere
You nave my answer 10 H. no natter whence the source
Jay GOul1 was asked about some OF the many runoIs
which had been circulated. lie replied calmly; my
holdings have been well concentrated have only COED
dividend-paying stocks aud those I purpose to hon
earning Its dividend steadily and 30 long as ~ ooss s
am satisfied Ia keep the stock AM pertesiy SUI
western Union IL earning Der dlNioebh nsarse ia
people convinced ot these facts, boi poS"u .e
stockholders steadily Increasing III hni..t D
of little consequence what The price OF STOCK NAY 10
when the holders are sure tsst Tue p'vpiv ;. ',
ea1,tuS and anu content 10 keep tho stocks Money
Abundant on good aiyidendpaying securities Was
bu, hal no uss for IT, and obliged 10 refuse IT, am
inclined 10 think thai shall ps importing gold s9On
for money England very cheap add VIA seek Invest
meRt IA good securities hsra'