New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-02
EXCITEMENT on TIE STOCK EXCHANGE

Navy proprF SCARED BY THE CHOLERA. SOLD
STOCKS REcKLEsSLY AND rNIiE\soN>BiH.
At the stock Exchange the scar" over inc appear
ancs Of cholera at Quarantine led to an uhre"ohihs
manic On n mall scale. The opening was excitcd'
the noor being crowded with brokers VINO "'u
multitude IT orders to execute. The bear orr"''>
ve, vigorous in attacking values, and wherever stop
orders, were suspected determined ana III many
cas.s successful effort made 10 tnkc away tho
-, ,roro IN. selIcrs The socaed industrial
stocks suffered severely, A. some OF them are ho'
widely distributed and attempts 10 re''hse co"" O"'
he made successful by offering important cohcc's'''S'
American sugar stock xas conspicuous Tor eA"p
ment and weakness. The FIST price was III -
against ll2 at Wednesdays close. The pie" iell
10 loG . aud closed nt I07 "a. National LEAD
stock fell more than per cent. and General Electric
To-, ovc, 4 n.r cent Manhattan Elevated broke
from 1877 IL Wednesday night to IFS, closing IL
100 The general list also suffered severely SUNNI
OF the best dividend paying stocks being thrown over
rec;lessly by frightened holders. or sold foi uei
who's. margins were depleted The prominent sstocAs
clo,cd at losses ranging rom to per cent, a'h'uSh
few SOCKS were able 70 ihHe r'V'" VI '''
fractional decline.
Tho sfr.-,, market ,nt~d norVos ani unsettled, ir'
with some sub,i1encc Of the panichy feeling Afer
ths stock Exchange was closed calnl-r VIC" pre-
vailed toward which much was contributed Oy io
news that the President hod proclaimed eeh'iai
rue
been forced liquidation the part u many holders
uub HIGHT mayslns A large part Of the purchases
ras end Ia have been Of good Character. ana ~
WINS argued tina many stocks had been shifted fi'im
weak hands into those able to protect uchi ass"''
ANY probable decline. II vas also thought by some
observers that The bears had pu out large lines OF
or, contracts snd that the short Interest was sull
80 heavy that AN important brake would BE- put upon
any fresh attempt at depression The'e wers no IN
favorable rimors accompanying the decline. brokers
aid that m rnny cases the fall In prices simply wiped
ont paper profits wlthou. causing real losses MANY
% the losses also fell npon big traders or Capitalists
VIII, were able 10 bear them
Tho absence Of oascs Of the dreaded dlseaS' nv
Quarantine tended to ica.sure the Wall rect com
munIty toward the close OF the day II was also
thought tina: the prompt acton Of the lresIdeh'
would 20 far toward alaying public apprehension
Conservative men declared the day panic to nave
lo,n rIdculons. wholly nnwaranted by the echerai
condition Of the county or by thc probabilities OF
the situation n concerning tho possible Introduction
q. cholera N WI, pointed ont that In Paris. where
The disease Ind actually obtained some holi, the
uonrse was firm. although prices were generally nj
high points The fact was also commented upon that
tho London markets with cholera close ut hnn1 ana
actually In parts OF England, showed no p'u'o
II was also recalled that in 1866. when there WAS
cholera scare. the prices Of sto'ks actually advanced
lanes r. Kecnc who has been believed to be active
In the manipulation OF Inc lhhUNuhl s'o'hS' w
nounccd the break In values simply tho result OF
oowariicc at is incomprelcn-iblc,' he said, why
any one shonli sell stocks now. when 1t Is known
that sanitary science has reached such perfection
hnt even II cholera should appear the deaths resulting
from IL w0ud be- less than those from pneumonia
The members Of the Consolidated stock ana Peiro-
lcum Exchange had Il Httl" cholera scare "f tnrlr
own II wns rumored early that two eases Of cholera
had been found In Rectorstr and Intense excitement
urevnued for a time. Charles g. Wilson. president OF
he Exchangc. and also president Of the Bour1 OF
Urath. reaSsurcd the brokers by going among them
ana telling them that the reports were utterly false