Huntsville gazette., 1884-06-28
BULLS AND BEARS.

The New York - Sun" Reviews the SituatfoH
on Wall Street in n Manner Not mt All
Complimentary TO the Operators-No
Truth In Them, But All Engaged in
l. Game of Dog Eat Dog.
NEW YORK, June q.
The San in its financial article of to-
day says: 'If something more was want
ed finally to- disgust everybody with Wall
street and brighten him away from it,
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 failing men them
selves within few, hours of
their making r'. an assignment,
the business community;are placed In the
position of q paymaster's heavily laden
chest carried into the camp of cowboys
and road agents. The "commotion pro-
dnced blythe 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 edfice of a community falls to
pieces When it becomes evident that
no plain, truthful statement offacts 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 he has
absolute control himself. 1t is the fault
of lying milionaires, lying bank Presi-
dents and lying railroad magnates that
denials are now accepted as conflrma-
tions. The momentary furry created In
the stock market on Saturday morning
has, it seems, also postponed the COLI
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, White & Co.
have played their little game once too.
often Saturdays sudden collapse in
prices, after the wild boom engineered in
Lackawanna and Missouri Pacific, seems
to Indicate .itsquite clearly: Deacon
White is altogether too inexperienced in
this game. He forces it-so brutally. 1t
should be played in. gentle way, as Jay
Gould plays it. Gould would never have
allowed Missouri Pacific to jump as 1t
did on Saturday if the Deacon had not
forced his hand by the Lackawanna deal.
As an irreverant hear remarks: "The
Deacon has altogether too much of the
parsons cheek about him. He talks big
and loud now because he knows he can
not be talked back at. With the aid of
ID p. Morgan and one or two squeezers
of that stamp he bought up nearly all the
aosttnT hackaMapna u a stock and has taken
his benevolent sermon and come down.
We shall then give him piece of our
theology"
In the last so-called "Calico" squeeze
Mr. White put the same stock to l30
dashers In few hours. 1t has tumbled
since to 92d. On Saturday he bo stored
it up to 105d again, but before another
fortnight is over he will probably have to
sell his holdings at Tod. 1t seems posi-
lively absurd to try to put up the price
Of any stock forcibly In the present con-
dition Of affairs, but to put up coal stocks
with the constantly growing depression
of the anthracite coal trade seems to be
something more than an absurdlty.
The atmosphere of the rivers grows
more and more black with smoke OF bl-
luminous coal, and some ferries tsn tho
Delaware River itself seem to have given
up the use of anthracite fuel because its
price is kept at eXtortioral figures The
same thing is going on throughout the
West, which has plenty Of soft coal Of its.
own and 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 eau, without
any regard to restrictions imposed uponit
by rival concerns. Mr.. w. III. Vanderbilt
is supposed to be deeply interested in
Reading property, and will probably be
the first to throw the combination cap
over the windmiIs. He hates to lose
money more than he hates to be beaten
on the road, and he must have lost agood
deal of it lately, both by the fall in price of
his investment.secu urities and.by'thestock
operations OF. the junior members of his
family. 1t is rumored in Wall street that
be paid big Wall street bill before sail
ing for Europe, and had &c. pay.a bigger
one still upon his return -