Show S WilD SCENES SES ON CURB 1 e eStar Star Con COIl Was Vas Hammered Down Downto to Eighty Cents SHAR SHARES SHAKES S DROPPED 4 t A A GENUINE PROFESSIONAL PAN PANIC PANIe 9 IC Ie WAS WA THE TE RESULT I 1 i i At no time since the formation of a J I mining exchange in this city were su h wild and panicky scenes witnessed on brokers row as those indulged In by bythe j I the talent between 1 and 5 yes yesterday 1 I afternoon after and timid pedestrians were otten orten impelled to precipitately seek the opposite side 1 I of the street to escape what evidently I I appeared to them to be an incipient I riot The battle battie waged was one of or orI words and deeds I involving money and andi 1 i while thile no sore gore ore was the excite I j i ment would have been none the th greater great r i had encounters been of or regular re lar I I 1 occurrence I IA A concerted and elaborately planned I movement to bear and break the mar ket in tar Consolidated shaves was responsible Lot foi it all ail and when It is known that more than shares were sold told at prices rapidly tailing falling irom I 93 cents at the onslaught down to 80 cents c a t share shareS before the movement was checked the cause of ot the wild disorder i becomes at once apparent Less than a month ago the stock was selling under 50 cents a share but re j cent disclosures in the mine hud had grad i i I raised the price until on the of September exchange sales had reach j ed and street sales on the same i I day were made at as high as in I Then ar ax unorganized bear movement i was inaugurated and notwithstanding withstanding nol i the opening of rich gold ore bodies on i the level a strike which proved the continuity of ot the ore chute from above the tho down to that point and the shipment of many cars of ot ore which ran from E 1000 20 to o a car the price sQueezed down till it fluctuated close cloe around the 1 mark At yesterday mornings call some shares changed chanced chan ed hands at figures all above Sl 1 l and it closed firm at t and Directly after arter the noon hour nour prominent broKer step ped out on the street and offered 1000 shares at 18 08 cents It was snapped up quicker than lightning and several other transfers were v ere made matle a tew l W minutes at nt the same figure It was not long till a further decline occurred first one broker and then another shoeing in with stock which was offered a lit liv tIe tle below what his predecessor On the scene had been willing to limber up av a and the friends of the tao th security were soon at their wits ends to know what to do So next Their backers were not wanting how however however I ever and anci ane each successive sive blocK was i picked up and withdrawn in the belief that the raid could not last long The I climax was finally reached when a j block of shares was wits offered at SO cents and from that time on the price I was as gradually built bull up until it leached reach leach reached ed cd 87 cents The fight light was rather desultory from then till the street clear cleared cleared ed for and prices closed around II 85 cents All sorts of charges were made and different opinions as to the cause of the raid wore Wre expressed but on one point all friends of ot the stock were agreed and that was that the condition of the mine was not responsible for flar it In some quarters it was claimed that certain brokers large I holdings had determined to chew up their competitors by making low offers and having the stock immediately I snapped up by their comrades thus frightening the small holder into sell I ing lag But whatever the scheme it was I I undoubtedly hatched batched and conducted by j II III I professions 3 and the crisis is believed I to have hn ve been ased I Manager Packard held aloof from the scramble but when asked for I I tion tit n unhesitatingly tingly declared that the 11 mine never looked so well He had a S check in his pocket for approximately i received 11 yesterday morning for forI i j I the last shipment of three cars of ore and he announced that seven cars more i would be in today toiny that would sell for flar I much higher figures than the last He said taid the mine is all right and the like stock Block will surely climb back to where it itS I S belongs |