The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-06-24
It's Penetrating Rays Illuminate
Many Dark and Mysteri-
Gus Places.
A Severe Commentary Upon the Peculiar
Business Methods Of Lying Mod
em MilliOnaires,
Wall Street Theology as Opposed to That
Of Deacon Morgan, the Lacka-
wanna Bull.

NEW YORK, June 23.--The Sun OF to-
day says: 'If something more was want
ed finally 10 disgust everybody with Wall
street and brighten hm away from 1t,
this something was admirably done last
week. The failure OF men reputed TO be
arch milionaires Is In itself a strong dis
turbing element. But when the very pos
sibility Of their failure is Indignantly de-
MED by the falling men them
selves within a few hours Of
their making an assignment,
the business community are placed 10 the
position Of paymaSter's heavily laden
chest carried into the camp Of cowboys
and road agents The commotion pro-
duced by the circumstance OF Commodore
Garrison's failure was OF the most alarm
ing character. When confidence in public
statements OF facts are gone, the whole
business edince of a community falls TO
pieces When 1t becomes evident that
no plain, truthful statement Of facts from
any millionaire, bank President, or rail
road President can be obtained, every
man Of sound mind locks up In his safe
any ready cash he has got and
sends to Jericho every business
except that Of which be has
absolute control himself. 1t Is the fault
OF lying millionaires, lying bank PreSi-
dents and lying railroad magnates that
denlals are now accepted as confrma-
tious. The momentary furry created in
the stock market on Saturday morning
has, it seems, also postponed the col
lapse OF two or three Important Wall
street firms. But the last hour Of busi-
ness fairly suggests the probability Of our
hearing of them to-day or tomorrow. 1t
is TO be feared that Ocean, v bite & Co.
have played their little game once too
often. Saturdays sudden collapsed in
prices, after the wild boom engineered in
LaCkaWanna AID Missouri Pacific, seems
to indicate it quite clearly Deacon
White is altogether too inexperienced in
this game. He forces ii 50 brualiy- 1t
should be played In a gentle way, as Jay
Gould plays it. Could would never have
allowed Missouri Pacific to jump as it
did on Saturday il the Deacon had not
forced his hand by the I.ackawanna deal.
A. an irreyerant bear remarks: "The
Deacon has altogether too much of the
parsons cheek about him. He talks big
aud loud now because he knows he can
not be talked back at. With the aid OF
j F. Morgan and one or two squeeDers
OF that stamp he bought up nearly all the
floating Lacka wanna stock aud has taken
itwith him 70 the pulpit. But let him fms h
his benevolent sermon and come down.
We shall then give him a piece Of our
theology"
In the last so-called Calico squeeze
Mr.. White put the same stock 50 1870
dGshers in few hours, 1t has tumblcd
since to 92d. On Saturday he DO stored
it up to lo5d. again, but before another
fortnight is over be will probably have to
sell his holdings al 75d. 1t seems posi-
lively absurd TO try to put up the price
OF any stock forcibly In the present con-
ditlon Of affairs, but to putup coal stocks
with the constantly growing depression
OF the anthracite coal trade seems to be
something more than an absurdity.
The atmosphere OF the rivers grows
more and more black with smoke of BIZ
luminous coal, and solBe ferries on the
Delaware River itself seem to have given
price is kept at extortiopal figures. The
same thing is going on throughout the
West, which has plenty OF soft coal of its
own aud reduces its demand for hard
Pennsylvania fuel every month. Apart
from that, company like the Reading
can never get out of its difficulties un-
less it mines and sells all it can, without
any regard to restrictions imposed upon it
by rival concerns. Mr.. W. II. Vanderbilt
is supposed to be deeply interested in
Reading property, and will probably be
the first to throw the combination cap
over the windmiils. He hates to lose
money more than he hates to be beaten
on the road, and he must have lost good
deal oft lately, both by the fall in price of
his investment securities and by the stock
operations Of the junior members of his
family 1t is rumored in Wall street that
he paid big Wall street bill before sail
ing for Europe, and had to pay bigger
one stu upon his return.