Savannah morning news. [volume] (Savannah) 1868-1887, 1886-07-12
THE wALL STREET MARKET.
A Curious story in Connection with
The Rise in Western Union.

A Curious Story in Connection with
the Rise in Western Union.
NEW YORK, July 10.-Wlth the excep.
tIon of the unexpected advance in the
price Of Western Union and wheat, there
was nothing of interest to record from
Wall street. The week is still half holI.
day one, and most OF the wealthlest ope4
ratOrs remain out of town. Saratoga and
Newport are too far for mature and coms
fortably fixed gentlemen to run to New
York after two days vacation. Besides
they have their brokers' branch offices,
with private wires, and can speculate as
easily as they do in New York. Win
Long Branch the case is different.
Although there, too, are branch
offices and private wires in plenty,
the resort is quite near to the city, and its
patrons are principally members of the
German and Hebrew Wall street firms
who 90 a great deal of arbitrage business
and whose European transactions com.
pei them to be Mt their city offices, every
| delay in the delivery Of cables or letters
being liable to cost some money. But
men who really love country life and not
watering place shows 90, about the
| Fourth OF July, tor a two or three weeks
| holiday in the mountains or TO some sea'
side fishing club, Of which there is o
| large number on the Long Island aud the
Massachusetts coasts. These men don't
want to hear Of Wall street or, for that
matter, even of New York while they are
away. Even the consciousness thai
most of the sharp Wall street tricks are
performed about this time does not
scare them, tor they usually close all
their speculative interests before they
leave town. Last year it was the Van
derbilt-DreXel-Morgan syndicate who got
up the Fourth OF July racket. This yeaI
IL is the spectators in Western Union
and wheat who come to the front. The
short interest in both was very large, and,
therefore, a squeeze was very easily en-.
gineered. 1t took for moment the as.
pect OF a regular "boom" on Saturday
last, but Tuesdays aud Wednesdays
heavy fall In Western Union showed the
artificial nature of the advance OF that
security, at all events. The position Of
wheat is as yet not clear, but the weather
OF the next few days viii clear IL up.
One OF the curious stories set atiOat to
explain the sudden rise OF Western Union
last Saturday was that there was a great
telegraphic cOnclaVe in session In London.
The members were said to be George
Gould 'BObV Garrett, 'Jim" Bennett
and Cyrus Field. Everyone ought to know
that il couldn't be 30. but as usual it did
succeed in roping some fools in. 1t was
in vain that il was pointed out that the
magnetic influence which drew young
Gould to London was an attractive mem-
Der Of the Daly company-much more at
tractiVe than any magnetic electric lnstru-
ment. II was also known that Garrett
could not have possibly reached the other
side yet, and that Mackey would not trust
Bennett with anything. Lots OF people
believed the story all the same.
Several Englishmen arrived during the
week in New York. and they all seem
convinced that Mr.. Gladstone is no longer
in his right senses. 1t seems that his
eccentricities have become more marked
than ever. A lady writing to friend in
this city last week says: 81 was shop
ping al IS { a fashionable milliner'sl
the other day when a lady entered, and
accosting the young man who was serv-
ing her, asked to speak to him for a few
minutes. "Who was thatW / asked,
when he returned. "Fhat, ma'am, was
Mrs. Gladstone. Mr.. Gladstone was here
yesterday and ordered forty bonnets for
forty little girls. We did not send them
yet, and Mrs. Gladstone called to say that
on no account should we let Mr.. Glad.
stone have anything he ordered"
A funny INSTANCE Of Anglomania Oc-
Cured ut the Rockaway steeplechases on
Independence day. An old white-haired
man stood nearly opposite the grand
stand and between two races shouted,
"Three cheers for Parnell I" Just as he
did 80 a fire cracker went of between his
legs and stopped his elOquence. He be-
gan again, however, and Immediately two
stalwart policemen collared him and
hurried him of the track loudly vOciterat-
ing against "such an outrage"
RtGOLO