The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-01-30
GOULD'S GOLD!
Placed With a Clear Head and q ST.
Upper Lip,
Brings the Ex-viilard Stocks 10 the
Surface, and Lines the Pockets
OF the Man who Yesterday
was Reported Ruined.

bead bowed nearly to his breast walked
quietly down Wall street and entered the
office OF Drexel, Morgan & Co. As he
passed into the building the men stopped
and gszed intently after him, and before
five minutes had elapsed nearly every one
on Wall and Broad streets who have dol.
lars interest In the stock market had
learned that Gould was holding . confer.
enCs with Drexel, Morgan q Co., aud
there were not a few but who would have
been willing TO have paid thousands Of dol
lars TO have learned what was said
10 that conference. The whole
temper OF the street seemed to have
changed. Last week operators were
whispering that Gould was on the verge Of
bankruptcy, and that at least his purchHs.
Ing power was exhausted, and that a. 3
manipulation be was no longer to be feared.
With single stroke, Gould gave terrible
exhibition Of his power, and those who the
day before were calculating how long 1t
would be before he would fall under the
load be was carrying, were jealousy
watching his footsteps and nursing the
wounds he had inflicted. H. was a day Of
extraordinary interest. Again the Willard,
or rather ex-Vilard securities, bazed forth
tnlo prominence. As they we're the cause
of the long period Of depression they have
now been made the lever by which the en-.
tire market, II Is hoped, will be sustained.
1t is seldom that there has been witnessed
such wide fluctuations in values as was the
other day experienced by the ex.viIlard
securities. Oregon Navigation, which on
Saturday closed at S56SS and
which last week sold as low
as 1Sh, opened at ", ran
up with astonishing rapidity to ll9 and then
decinins closed at 95C09s. Northern Pa
chic preferred opened al Az, advanced to
49h, closing al 47s041h.- Oregon I'm.
provement opened at AK, advanced to 81,
and closed at A. asked. Oregon Transcon.
tinental was least affected, opening at 20K
advancing TO %, and closing at 2lkGG2lT.
AS an illustration Of the magnitude of the
advance In Oregon Navigation man who
purchased shares Of the stock at the lowest
price on saturday, 7sh, and sold 1t at the
highes, price yesterday, ll9, would have
cleared over "A 900, and this on an invest.
ment OF about $50 required by bis broker
as margins. Tue whole market was
strengthened by the extraordinary advance
In the ex-Vllards, and the closing prices
were l3< 0l3* per cent. higher than
those on Saturday. The cause Of this ad.
vance IN ~ be stated In two words-Jay
Gould. Mr.. Horace White, treasurer Of
both the Oregon Navigation and the Oregon
Transcontinental, auth orized the folio wing
as the correct statement OF the arrange.
ment. The Oregon TranscontineNal has
sold to syndicate 10, 900 shares OF Oregon
Navigation stock at 10, 20, 900 shares OF
Northern Pacific preferred at 81, and
30, 900 shares OF Northern Pacific common
at l6.
by THIS SALE TT REALIZES
y, 10000. The company also borrOws
from the same syndicate, for six months,
81, 200, 900, dep0siting as collateral 20, 900
shares Of Oregon Railway and Navigation
Company al 90. This gives the company
$3.50, 900, and relieves it OF all pressing
liabilities. -
The syndicate who h afforded this aid to
the Oregon Transcontinsntal Is composed
OF Jay Gould, Russell Sage and other
friends OF Mr.. Gould, also the firm Of
Drexel & Co., and Mr. A. j. Drexel per.
sonally The other persons reported as be-
longing 10 the pool are Frank Work and
Decker, Howell g. Co., the latter, it 10 said,
benehllng also by the arrangement, 10 that
1t secures the payment OF their loan TO the
Oregon Transcontinental, The most i'm.
portant features OF the agree mont Ia that
the members pledged themselves not 10
dispose Of their stock except by consent OF
the other members. This takes out OF the
street nearly all Of the floating stock and
makes the securities very scarce. This fact
and the additional on =, Il the Oregon
Transcontinental, In ordertO denver the
stock 1t has sold to the syndicate, called IN
the numerous loans II had made to opera.
tors on the street who have been selling
the market ''short.' This caused =
stampede among the "shorts" to get stocks
to make the delivery. The premiums for
borro wing tho stock advanced, and o. much
as 81, 900 has been paid for the loan Of 100
shares for one day. The
SCENE IN TIRE STOCK EXCHANGE
was at times very exciting, and at 2:l6 p.
M, when many brokers announced their
inability 10 make delivery Of their Dor.
rowed stock, 500 excited brokers crowded
around the chairman's desk, and. amid Q
racket that would have made "Rome
howl, " about 2, 800 shares Of Northern Pa
ci6c preferred were bought In under the
rule at prices ranging from AK to bok.
The losses, however, we're well distri'
buted and no one was reported ~ serious.
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