New-York tribune., 1884-03-03
RAILWAY INTERESTS.
AFTER THE LACKAwANYA "sQUEEzE."


TALK OF BROKERS AND oPERAToRs-A STATEMENT
BY RUSSELL SAGE.
The squeeze in Delaware, Lackawanna and
Western stock on Saturday made an unusually
lively Sunday at the Windsor Hotel. II was the
one topic Of cOnversation among the brokers and
spectators who crowded the lObbies of the hotel
all the day and who were more numerous
than usual in the lobbies in the evening.
The events Of Saturday, their causes and signif-
cance and the prospects Of the future of the stock
speculation affected by them were discussed from
every point Of view, but amid the plenty Of gossip
and surmise there a lamentable dearth of absO-
Lutte information. Nearly every PERSONS opinion and
knowledge appeared to be based on his speculative
position the bears having facts" and beliefs
diametIcally opposed to those of the bulls"
S.V. White, the broker who conducted the par
tial corner" Of Saturday. was not at home to re-
porters. He attended Mr Beecher's church III the
morning, but did not go in the evening. Russell
Sage, who is charged by rumOr with having sold
out on the Lackawanna pool early last week. was
asked by TRIBUNE reporter what truth there was
in the story.
There's not a word of truth in it, he replied.
'its all moonshine. / have not sold any stock
which in the pool. l not in the habit of
violating my engagements, and when | make
any dRIttultub III stoth pun
carry it ont. 1t would be dishonorable
to do otherwise. You can emphatically deny the
stories circulated respecting me, and am confident
you can do the same regarding the stories about
Mr.. Gould"
Mr.. Sage declined to say anything as to his re-
ported relations with the Lackawanna pool.
person well qualified 70 know the facts said: /" Mr..
Sage has not dollar of interest in the pool and
hasn't had. l don't keep Mr. Goulds books, but
am satisfied that he hasn't been in the pool Their
names have been used to make this affair
seem big one; to give it color
and Importance. Mr.. Gould doesn't believe
in corners, and neither does Mr.. Sage. II kills busi
ness; it's death to steady trading. l don't believe
any of the Lackawanna directors favored the
squeeze
Many brokers, nevertheless persisted in the be-
lief that Mr. Gould and Mr. Sage had been members
of the pool, and that their heavy selling was due
the break In the price of Lackawanua stock to be-
low 1870. The story goes that 1t was understood
that at 132 the pool should be at liberty to sell and
that as soon as 1872 l. had been touched Mr.. Gould
and NT. sage began to sell. IL was argued that Mr.
Sage would not have yeutured to sell the stock short
if he hadnot known where he could get il TO deliver
expecting TO receive it from the pool. The bulls
however still held 10 the theory that the pool was
intact. and that the heavy selling Of week ago
was by Charles WOerishOtfer, Henry NJ. smith and
Addison Camnock. They declared that large
amount of short sales were reneWe ed saturday by
many of the operators who had been forced 20 bOr
10 the stock az high rates that ruled or whose
contracts were covered by purchases under the rule
There was also talk that there would be a similar
calng-n of loaned stocks in Lake Shore
ST. Paul aud Union Pacific. Samuel
Barton n wpl-knOwn Vanderbilt broker. re-
ported TO have declared that he had loaned 20 1000
shares Of Lake Shore, which he intended 70 call IL
to-day. The d" bears on the OF er hand ridiculed
these threats and denied particularly that there
was any large short interest lett IN LaCkawanna.
They asserted that large amounts of long stock had
been sold 70 the pool on Saturday, and ntimated
that the end of the squeeze would not be likely
to result proftably TO the members
Regarding the reported sale of about 40,
600 shares of the stock held by
the New-York Life Insurance Company,
ii was stated that authority for the sale had been
given a week ago, and that the sale was postponed
until Saturday account of the break IN the price
last Monday and Tuesday. The relegati0n Of
Lackawanna 10 the list of inactive stocks was pre-
dicted by the bears as a consequence of the terror
inspired by Saturday tactics.
Many settlements between brokers who were
short of Lackawanna and others who were carry
ing blocks of the stock We're made Saturday ana
Yesterday and strenuous efforts have been made by
bear operators to loans of the stock from out
Of-tOwu for use to-day in making deliveries.