Weekly commercial herald. (Vicksburg, Miss.) 1884-18??, 1885-08-07
G H MEN IN STOCKS.
The Story Of Vanderbilt and Cam
mack's Deal Together.

Inc understanding In wall sCreeG is
that Addison Cammack, the bear lead
er, was long Of the market and made
about 100000 in the last upward turn
in stocks. The remarkable thing about
1t all is that the money was made al
most entirely in the Vanderbilts,
which "old Cam" as Mr.. Cammack is
called, was short Of during last winter
and spring.
1t Is now regarded as certain that
there has been an alliance between him
and William H. Vanderbilt for months
back. Mr.. Vanderbilt, however, has
denied all along that he has been oper-
ating with Mr.. Cammack. The con-
vlction that they have been is general
in the street.
A well-informed operator said that
his understanding Of the deal was that
they tried the short side last spring,
and Mr.. Vanderbilt, in order to help
stocks on their downward course, dis
couraged any settlement. with the
West Shore and frowned upon the
proposition to sell the South Peansyl-
vania and Beach Creek railroads to the
Pennsylvania. They labored in vain
in the street, but New York Central
would not descend the scale. They
would throw heavy blocks of stock on
the market, but the object of their at
tack would only sink a little under the
pressure and at once rebound. Lake
Shore was kept up by symathy with
the New York Central. 1t was plain
that the support was in New York
Central. II did not take long for the
interested ones to come to the conclu-
sion that the support came from the
J. Pierpont Morgan and the English
interests, who held it up to protect
their large holdings.
Batied on the short side, the big
operators turned to the long side and
began to buy. They bought quietly
for a long time until they had secured
a good line. Four weeks ago, when
they had got enough stock, they set
their brokers bowling for the stock,
and the Vanderbilts began to climb.
The higher they went the more general
the buying became, and the first thing
the two big men knew, a stampede to
the bull ranks was in progress.
To make sure that there should be no
failure of the movement on the long
side, Mr.. Vanderbilt turned about and
gave his personal assurance of a desire
to make terms with both the Pennsyl-
vania and West Shore roads. The in
formation that he favored a settlement
was quietly let out Just after the
brokers received their orders to begin
booming operations.
While Mr.. Vanderbilt was in Europe.
in May, Mr.. Gould endeavored to set
tie up the trunk-line fight and bring
about a restoration of rates, The
comfort that be received from the
Vanderbilt roads was of the cold kind.
The inference that he was left to draw
was that Mr.. Vanderbilt was going to
fight it out on his line if it took two
summers. 1t is said that while run
ming up his own stocks MI. Gould
embraced the opportunity to go short
of the Vanderbilts with the ultimate
idea of smashing things and realizing
on his shorts. 1t is likewise said that
he settled privately on his Vanderbilt
shorts last week.
Cammack used to live at the Wind
sor hotel. When he came back from
Washington in the spring he took up
residence at the Langham, across
the street from Vanderbilt's house,
Under the Langham lisa brokers' office,
where MI. Vanderbilt spent a good
deal Of time when in town. For some
time past both Mr.. Vanderbilt and Mr..
have been in Saratoga.
Mr.. Vanderbilt's losses on the bull
side during the heavy decline that set
in in 1881 have been computed as high
as 100000. The last rise is estimated
to have made him all of So, 500, 900 bet.
ter off than before it began, counting
both his actual profit and the increased
of old holdings. There is not so
much in Mr.. Vanderbilt's gain to excite
interest as in Mr.. Cammack's.
MI. Cammack has always been
regarded as an u~nregenerate bear.
Although he has been a great bear he
has known when to "run." That is. if
be saw that the market was going
him be would cover his shorts
at a loss and get out. He goes on his
Judgment, and starting in with nothing
be has rolled up a fortune of 81, 100000
on that alone. The belief in the street
Is that Mr.. Vanderbilt has for
the past few months relied
more on Mr.. Cammack's Judgment
than his own, and been guided almost
entirely by the latter. In the fall of
at the time of the panic of
1878 Mr.. Cammack made 81, 100000.
and the last great decline, beginning in
1881, showed a profit of 100000 for
Mr.. Cammack's almost unvary-
ing success caused Mr.. Vanderbilt to
lean on him, it is supposed. MI. Van
1erbilt operated with Mr.. Gould until
The latter landed him twice at a fear.
full cost. Mr.. Gould went 10 Mr..
Vanderbilt to interest him the third
but the latter had acquired wis
ION from experience and could not be
again.
Condition of Gen. Grants Body.