Year: 1871

The excitement Of to-day ut the Stock Tx
change has not been eqaled since the collapse of the
famous God Pool in September lsG9 Wall-st perl
odically passes through panic in some direction and
recurrence always looked forward TO with apprehen
sion To those familiar with the interior working OF ar
fairs the stock Exchange, the present one has not
been une xpeced and felt that the wild and reek


less speculators were standing a mine which might OK
plode at any me1ent, and spread disastos
through their ranks. To tie pernicious systea
OF CLIQUE speculation which has or late Deen
in vogue in Wall.st. may be traced tho dis
asters widespread ruin OF to-day, and persistence
in that form Of operations must eventually drive the out


siders entirely from the street This Is orciby Illus
trated In tie late career OF the Rock Island movement


which strong combination has for a long time been
manipulating The recent advance to 1903 was due to the
heavy purchases Of the leader Of this gigantic move
ment who had hitherto conducted tho speculation with
eonsummate ability and slS forcing several prominent
bears their contracts at very high quotations
AS we understand IT, the corner would have been con-
pete had the prime been able to provide place
the immense purchases Of yesterday, which, with the
amount already controlled by him, footed up the enor
nous sum something Ike hro hundred and FORTY thousand
shares, representing, at par, valuation OF
ahont S2iOOOOQO the capital stock OF the road being
no 900 shares SlOO0o II will he thus that The
price could have been sdvrrced TO any figure This fail


TO arrange for yesterdays purchases OF the pool


brokers the result OF misunderstanding In regard
10 the negotiation OF Some important Ohnr ouu thc
etock Therefore forced to be sold out under the
rule" aud the price rapidly ratified down through the
intermediate figures from 1901 to no. before the decline
was checked embarrassing host Of minor operations,
the difficulty of determining the stability and soundhess
OF the various broker firms entaug Losses upon ull In


in the stock either side Of the account The
days transactions in this stock will aggregate about
10000 shares, which is within u fraction Of tho
entire capital stock OF the Company. II tie re-
suit Of this movement shall be 10 check the
tendency TO reckless SPECULATION, good will have
been attained though the lesson Is While the
maindcr OF the list has presented no appearances Of
which natural under the crcumstances though for


time during the middle OF the day the market became
comparatively quiet and steady. This continued until


after the adjournment Of the Second Board, when
other severe break recorded the Esrth- Western
shares and Western Union Telegraph bearing the brupt
Of the attack, aud selling down some or per cent
Lake Shore went of about per cent, and Central l.
I'm the afternoon the general market assumed
much frmer tone, and the day closed on generally i'm
proved sentiment though at this hour is Of inn
possible TO furnish accurate list VI the broker firms
crippled by today's engagement although imperfect
list "a appended. There hut limited movement D
the list Of miscellaneous shares, though the coal stocks
pressed at lower prices. but making improve
meEt at the close. The following table shows the
highest aud lowest prices OF active stocks made to-day