Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-01-06

IN. Y. Sun. Dec. &.l

II Is believed all over the world tha
stock market IL safe TO deal in onl
when IL is in the hands of strong meu
Bnt the belief Is evidently an erroneou
one. at least "a far as this country
concerned. There can be no Questio
that the market is at present in yer
strong hands. but it is also beyond al
doubt that il is not safe. All the smal
holders of stocks. rs we'll as the smal
spectators. were shaken out long ago
They have disappeared from Wall stree:
and the stocks they used to hold hav'
been accumulated in banks and in tn
nandi OF big capitalists and monopo
lists. Yet all the efforts of these mel
and institutions Seem to be snabla Il
sustain prices: and. as there is a limi
to everything. there will also be limit
20 these efforts. Already several very
rich men have seen SO badly hurt thar
they seem to be giving up the struggle
The immense sales of securities like the
West Shore bonds, the Pullman Palace
Ontario and Western, and North
River Construction stocks, clearly
demonstrated last week that a mum er
Of wealthy men, having suffered by the
tumble in the Willard stocks. have had
to throw overheard big lots of other
securities. The Vor popul of Wall
street is nst always Vor Del but, tax
ing it for what it is worth, it would ap-
pear that all the stocks sacrificed last
week came out OF the boxes of very
strong men. Mr.. G. Pullman, General
Winslow and General Palmer were
prominent among those mentioned as
having given up the struggle. The
Mills party has sacrificed large amount
Of Erie stock and bonds. All these
were heavily interested in the
Willard properties. The ravages of the
last two years in the ranks of the
humble outsiders could not be stopped
there. They had to spread further and
and there would be nothing
in it if they should be found
to reach not only strong men, but
strong institutions. too. Nothing will
stop the fatal career of this liquidation,
sxcept a thorough reform of corpora
tiOn law and thorough purification of
the management of corporate institu-
lions.
But with a view to mitigate Wall
street calamities. for a time at least.
1ur railroad magnates ought perhaps to
follow the example of Mimi -Mang, the
King Of AMMAN, the Prince Philosopher
1f the Eastern World, and the grand
Father Of Tu-Duc. In his greedy struo-
gle fer power and wealth, he massacred.
tortured, and robbed thousands upon
thousands of his subjects converted by
The French Jesuits to Christianity.
they formed the most peaceful and do
,ile portion of the population of An
nam. In fact, they represented there
The lambs of Wall street. The Kings
savage extortions and prosecutions
we're followed by an outbreak of chOl-
IRA, of the plague, AMI of water fam
ne. Whole townships were depOpula-
ed, AMI the Jesuits that were still left
alive took advantage of this to
'pread among the masses the idea
hat the calamities were all the
result of the wrath of heaven for the
cruelty, and impisty Of the
sovereign. The general discomfort was
growing into revolt of the whole coun-
ry, when Mimi ManQ resolved to make
! public confession of his sins, and thus
20 appease the gods as we'll as his sub
ects. Into the composition of the pro-
issued upon that occasion, he
brew all his literary skill. which is
quite famous in AMMAN. The prOcla-
nation concludes thus: "In the face of
heaven, and in good faith, we, as the
'hief oulprit, form the resolution to
lhanRe our manner Of life; We exhort
he mandarins to follow our example,
md the common people to imi-
ate the mandarins. So shall heav-
which our sins have choked up,
md m ohol1 Aha n,-s~n han~A~n-.,
moe more flow over and fertilize the
and" A step Of this kind on the part
# the Vanderbilts, the Goulds, the Viii
ards. and minor Wall street tyrants
would be extremely appropriate. OF
'oarse nobody expects any of these gen.
lenlen to write so fine proclamation
Is the talented MIMI -Mang did, but it
voald not cost them very much to en-
.aRe for that purpose the services of a
nan like Richard Grant White, or even
Matthew Arnold. Chauncey Depew
,ould be made to superintend the legal
POINTS FREQ of charge. A proclamation
II this kind, if we'll written, and sincere
y adhered to, might possibly do a.
much good as did the eloquent confess
lion Of Miuh- -ManR.
The retirement Of Mr.. Willard was &C.
,epted with general satisfaction, but
Ipeculative circles have grown to be 30
Ikeptical that they do not expect much
rood from the change of administration.
u ia said that the two new Presidents
ire intimate friends Of Mr.. Willard. If,
the rumor ia correct that Mr..
Endicott and Mr.. Coolidge are going to
work the Oregon Tranacontinental
Company in the interest of the Bur-
ington and Quincy Company, some
advantage might be secured,
lor the Burlington and Quincy was al
rays admirably managed, and has
ample facilities for profitably using she
Northern Pacific line after it has OBJ
aimed the controlling interest in it by
means of purchase Of sufficient
AMOUNT of Oregon Transcontinental
took.