New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-03
WALL-ST. DELUGED WITH RUMOR&
STOCKS WEAK AND EXCITED.

NO FAILURES MISUNDERSTANDING OF THE PIdN-
ClrAL STORIES CIRCULATED.
Wall Street was enveoped in thick atmos-
mosphere of rumors Yesterday Most OF them were OF
character to unsce confidence and even cause aarh'
Whispers II the financial embarrassment oil stocK houses
were made in about the same breathwh suggestions that
large company was In trouble Inc day pisSeu'
however, without the announcement OF any ls'ures'
The stock market was active, excited most OF the tme
and sharp decline in prices was recorded 10 nsures
even below those scored the last half hour on THURSDAY
Tho late weakness then had prepared brokers anu
operators for weak speculation yesterday. Prices iei
FOR most OF the list TO 2 per cent below the nnAi
quotations on Thursday. The greatest depression
oppressed the stocks that popularity associated win
Mr. Coud's name. Western Union Telegraph dechheo
to J9a against $751; the highest prico on THURSDAY
Missouri Pacific fell TO 79a against so as the highest hs
ures on Thursday. Union Pacific ala not STOP un'i "
touched 577 loss OF 0as per cent from inc pest po "
Tbursday Central Pacific went to AGA against oo2' 0
t,o price on the day before The only exception 10 tne
General movement in the Northern Pacific aud alieo
stocks which not only did yield to the weakness Dnt
closed Ut important advances. The msrAeV cIoSoo ~
onces better than the lowest and with the temper OF
traders somewhat improved
The question overyones tongue was; "hat Is Ino
m.ttorf What caused the breskr No answer was
found In tho stories circulated for BUSINESS hours
ended without the confirmation OF them among
the theories discussed the one most generally accepted
was that an active selling movement had oeeh sartcu
on the part OF the largo operators when IL was
discovered that long stocks were UNEXPECTEDLY
coming upon market late on Thursday kumor
traced this supply, far Union Pacific Is concerned
TO the large Boston holders. 1t said that SID
ney Dillon had been financially embarrassed by the
decline in Union Pacific to the lowest point at Wh'cn
has sold since the consolidation with the Kansas laonc
Railroad In addition TO these stories the news OF inc
strike OF Union Pacific employees exered an unraVoIaoo
effect on general operators. Mr. Dillon was seen ny d
TRIBUNE reporter last evening and asked regarding the
| street reports
"The street need not worry about me so long as 90
| not worry about myself" Mr. Dillon replied " 1ou
haven't heard of who ia in trouble on my account
There is no truth in these stories. am able TO lock all
of INV stocks up strong box, and In TACT most OF le
are locked up. am selling Union Pacific and II IA
| not time that the large Boston holders are am not
so ~ for myself at the decline in the stock, but am
sorry for Others The 'bears have attacked the STOCK
ON its recent statement OF eaning7 but the company Is
n right and the stock will sell at 100 again"
| With respect 10 the reported stike MI Dillon
that advces were received at p M yes
erday They wore the effect that only the men in the
.bos at deterrent places along the line OF the road had
struck and that trains were running rcEua[ IA spt
az the recent red ctOn IN earnings the mon racine men
were better paid than those cast OF the Missouri river
Friends OF the Central Pacific DENIED that 'he1 vas any
reason FOR the decline that stock and acrbed IL 10
sympathy with Union Paclfc's decline. o-. $500.
The name OF the Mercantile trust company wa
banded about by the G as te one VI
trouble General Louis Fltzserad, tle eteSGen 99 9
las, evening" There is not the slightest foundation Tor
these stories in any way The only trouble the company
has is the difficulty in employing It's money prohtably II
| coul1 not possibly be involved because we
| make loans only on stock Exchange collateiais
with 90 per cent margin We embark IN no new enter
prises and we are back of any any set OF men
To cover every possible point" General Fitzgerald added
with a smile, "yOu may say that there has Oeen no
| defaloation or iTregularty OF any kind" ,
The interest in James t. Kecne's affairs has ABOUT oed
out in the Street Mr. Keene was at his once eseroay
and sent out notices asking that the h"lers :"
| his privileges present them for REGISTRATION ann
adusfnent He necessary 10 ascertain
how he stood and he expected make satisfactory set
Element Many OF his privileges were reported 10 nm
The put" and call" brokers do not expect better
settlement return them OF the cost price oil
| the paper.