Savannah morning news. [volume] (Savannah) 1868-1887, 1885-01-21
SHAKY MILLIONAIRES.
wall Street Operators on the Verge of
Distraction.

Wall street Operators on the Verge of
Distraction,
There was a short seance of stock
brokers in Il well-knOwn office in Broad
street yesterday afternoon, says the New
York Morning Journal of Sunday. A
sprinkling of bankers was noticed, and
the gathering took the shape of an i'm
prOmptu meeting to exchange views on
the situation of the street, and to arrive
at some conclusion as to the immediate
future.
Tue wrecking of the firm of John J.
Cisco & Son, the direct result Of the
TumOr-mnngers, was bitterly alluded To-.
1t was not so much the failure of the
CiscOs or the amount involved by their
downfall, but the fact that this old house,
with never stain upon its escutcheOn,
should be forced to the wall by persons
interested in little pet schemes, the per-
petratOrs of which, even if their names
were known, would be forgotten in dav,
whereas the reputation won by the CiscOs
for sound and conservative banking prin-
ciples will endure for many decades to
come.
A startling statement was made by one
of the group, and caused quite a sensa-
ton. No names were mentioned, except
one, and that cannot be divulged at this
time. The report was, which can be sub
stantIated by a visit to the Registrars
Office. that he for several weeks past has
been daily transferring his real estate out
OF his hands. 1t was even intimated that
for slight considerations he had parted
with much of his personal property, in
the shape of stocks, bonds and other Sc
curities.
''Why did the gentleman do ths?"
''Oh," replied the broker, ''these fail
ures and the prevalence of a spirit of
mischief in the street; the cir
culating of vicious reports
about every and anybody has
caused him much uneasiness. He is
twenty times millionaire, but he does
not feel safe, and has transferred his
property, | suppose, in order to feel Sc
cure. Another point: the gentleman is
not in particularly pleasant OdOr at the
moment, has many suits pending, the
result of which, if decided against him,
would compel him to draw mis- cheeks tor
very heavy sums"
1t was also learned that Uncle Russell
Sage was bObbing up and down on the
anxious seat and hardly appeared to
know whether he was afOOt or horseback.
Last May he was very flush with his
puts" and calls" and was mulcted to
the tune of s., 100000. He retired to his
country seat to recuperate and returned
to the street in October. Since then he
has traded very moderately, his former
losses hanging like the sword of DamO-
cles over him, and when on Thursday
afternoon he learned of CiscO's failure he
acted as one clean daft, cancelled every
contract made. destroyed others and told
the ''boys" to whistle for their claims.
IL Mr.. Sage had not adopted this arbi-
tarv course the losses incident TO the
severe declines would have winged
him for something in the neighOOrhOOd of
81 zoo, 600.
Mr.. Coils p. Huntington, king of the
Texas system, has been reported in trouble
dozen times, but he stands the fire adj
mirably and predicts when the mOngers
come to their senses they will find that
they have injured themselves more than
him.
Mr. IsidOre WOrmser was of the Opin-
ion that the storm had blown over, and
felt assured that with mills and manu-
factories all over the country starting up
the financial horizon was fast clearing;
and while he did not expect any "bOOm,"
he certainly anticipated a gradual, per-
haDs slow, but sure recovery from the
recent depression and disaster.
Mr. Henry Clews is the champion COM
fOrter of the street to those who hope and
pray for higher prices. Mr.. Clews stated
yesterday that he believed the wedding
out process had been completed and was
quite positive that the market would
slowly right itself.
A gentleman who recently sued the
elevated roads, on the contrary, thought
that one or two more big suspensions
were not far distant.