New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-06-22
WALL-ST. HOT AND EXCITED.
A GOOD CROP OF RUMoRs FOR ONE DAY.
sOLON HUMPHREYS AND c. p. HUNTINGTON
m nE esED

sOLON HUMPHREYS AND G. p. HUNTINGTON
FALSELY SAID TO BE EMBARRASSED.
The business at the Stock Exchange was not ex-
ceptionally large yesterday, but the excitement
which attended it has seldom been equalled. The
fluctuations in prices were both rapid and wide.
The market opened weak and for most of the active
stocks materially lower There was a further
small decline in the first few minutes, hut sharp
advance in Delaware, Lackawanna and Western
and Missouri Pacific turned the current of specuIa-
ton Both stocks have been practically "cornered
for some time. and the advance was the
natural result of too free sales by bears
The price of Missouri Pacific, which
had yielded to 9Ols, advanced by small
fractions per cent but after touching 03 it rose
pei cent at time to %. The next sale was at 100,
but il was followed by one at ~, and Immediately
aftcrward by others at % and 9il2. The squeeze
in Lackawanna was only less sharp. That stock
opened at o. but after decline to 0G24, advanced
RAPIDLY to 1Oj. The two stocks were the only ones
which showed final gains, but these were suili-
cicntly marked. Missouri Pacific closed at %
against 007s. and Lackawanna at l0O7s, against ~
at the close on the preceding day. The general
market ended at a decline which rarely exceeded l
per cent.
UNFOUNDED RUMOR ABOUT SOLON HUMPHREYS.
About noon. when the force Of tho sudden adj
vance had been partly spent it was ru-
mored that Solon Humphreys senior partner
of the firm of f. d. Morgan u Co. and one of the
two receivers of the Wabash Pacific Railway, had
made an assignment for the benefit of his creditors.
This fact that Mr. Humphreys has been au Intimate
friend of Commodore Garrison's and is an indorser
with him on the paper of the Pttsburg, Cleveland
and Toledo Railroad lent faint color to the rumor.
1t was said at at the Stock Exchange that, If
the rumor was true, the suspension was direct re-
suit of Commodore Garrisons assignment. The
rumOr proved to be absolutely false, but 1t
had Its effect on the course OF prices.
John T. Terry, the business associate of Mr.. Hum
phreys and the assignee Of Comodore Garrison scout
ed the mere suggestion that his partner was enl-
barrassed. lie said in his nervOusy emphatic way:
It shame that such stories should he put In circu
atIon Mr. Humphrey is one OF the indorscrs on the
notes OF the Cleveland road but the amount whCn ne
on us small and besides that lie mas ample security lVl
his liability The whole matter Of those Endorsements is
likely be settled shortly although am not free to say
anything about the negotiations which are now in pro.
CreSs Tne rumOri Is ridiculOusy false ana wicked II
Mr. Humphreys not engaged In mercantile business
but simply speculaor the rumor would oe OF NUN @
less consequences now IT may affect the credit OF me
Of that.
Mr. Humphreys said later in the day
There not the slightest foundation for the story
have not made an assignment and when DO 50 heTG WI WIZ
he several Others who will keep me company. nave
known Comomdoro Garrison for the last twenty I'VE
Several times ON ruesdly The idea that his assignment
has any other connection with me Is simply absurd
An ATTACK on CENTRAL PACIFIC.
In the last hour of business after the rumOr about
Mr. Humphreys had been denied by every one
familiar with his affairs, sharp attack was made
on Central Pacific stock, which from 10 broke to
3jI2 The rumor-mougcrs announced at once that
c. F. Huntington was financially embarrassed (;
that he had been unable toTcspond to calls for bor
rowed money, and that If lac had not made an as
signment he VIC nd do 50 Immediately. Mr.. Hunt
1ngton said Just as he started for his home -
The first .rd of the repor Just bafor, O'Clock,
when Young rushed into thc ONCE aud inquired
anrously II nsd rallied They the first to tell me
not the smallest excuse FOR such FnOr Inc Cen
jra has some loans on all, suppose, but the uoatug
We paid all calls "a they were nde aud we shIll
contiaur do time. - say the least. The
really owes nothing IL can pay ia bS promptly ana
without distress Ia faot, the company Is IN te bet
ter condition than 10 has been lately. There is no
iH the affairs or either road 10 give rise % tne
rlmors: but then. suppose the BOYS al th9 Exchange
must their stories, aud they might have mo fa'd
well "a any one else. II doesn't do me any barm
and II It gives them anus IN mt 10 not complain
veteran broker said Of the stock movement
yesterday:
II is a singular fact that the shorts whine
whenever they discover all at once that they have
oycr-SOld the market. They talk about corners
aud "squcczrs' whenever prices go against them,
! but aS iongas they are In their favor they say
nothing about the combination, they are making.
The unors whicl were started to-day followed the
advance in prices they probably would never have
| been circulated if il had not been necessary TO
| check the advance in some way.
COMMODORE GARRISON'S ASSIGNMENT
Melville c. Day, the private counsel for Commo-