New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-19
SaF CORNER CONTINUED.
n .Npr. STOCK STILL SCARCE,

A .,vpRsSED AT THE. RISING PRiCDrT
-, .rorssAY THEY HAVE THE VICTORY!
4 ...-r.rs in Oregon and Transcontnental stooA
.orttnnsd yesterday greatly TO the surpfiSe -
-, go It had been expected that aiter 'n0
-, snoks were closed on Friday sftenoois~'nofo
~ r.. M scarcity Of stock for use and that d 'no
AR control had forced tho prtoe beyond Jus sup
800 intrinsic value there would DO an iiiioue
-. AZ s,,on as the contest over. In the nrS'
minutes after the opening of business It was Per
r,v,a that this expectation was to DO d>sspp"n'u
-. nrne moved upward slowly until the Snort ln>
%.st realized tho situation and then II rose rapidly
until u touched rs, advance OF 70 per cent o'o'
ftAs closing figure the previous day. Inc rea''on
IA 20 was stu moro swift but attorward trero was
!. fresb advance 10 40. Both sides in the cenoest
els,m tho victory. Friends OF Henry VILLAIN ~
thst they absolutely owned more than one-hs u 1ie
stock. while Elijah Smith and members OF his parry
,,s,,sd that thew had wresed the control from the
present naaagement. They did not say that Iney
owned q majority OF tho shares, but they aSSereo
that ,hsIr holdings were so close TO han taey
were confident Of success when the oaiiom snouo %
counted ne the annual meeting. But ootA siues "0'e
unwilling either sell to lend STOCK saa 'is may
be regarded as tho best proof that me result S IN
doubt. It is not necessary to hold the STOCK for
particular period but under the laws OF orega3 tho
owner Of stock may vote on presentation Oh SoOoai
certificates although they do not stand In his name
In other words his ownership ahrogs'es any proxies
that NAV have been givon by the person In whose
name the stock is registered.
A WARM CONTEST FOR CONTROL.
The contest for control is close that the selling
u few thousand and possibly rev
hundred shares night change the result.
For this reason both sides appear to have como to
the conclusion that they must hold their STOCK until
the meeting which occurs on June H. The bears
gtn <
option and considerable amount of fve-dsy options
Will mature tomorrow, while the requirements will
weeks uniess . few sellers anticipated their wants
yesterday. The business In the stock was less than
COT Yet settled must be much larger.
On the other hand. opposing views can be beso
by hs 'USSTS sDS taS al v Ds0sss
people who were short and the selling must have
been By holders Certainly no fresh short interest
ali unlikely, too that many OF the sellers Of the ten
. few days longer and hastened to accept present.
losses by buying stock. Now It is hardly possible
for thirty days There win be a compromise or one
party wifi ind that IL is practically beeten and then
considerable amount of long stock will Be released
NO TALK OF A COMPROMISE.
The suggestion of compromise not enter
tAined by either tide, for neither woud admit that It
had been successful II thore should be settle-
mont and practically the whole capital stock should
remain locked up until atIer the annual meeting, the
scorner" might prove TO DO a continuing one.
The "oornsr" In the Stock Exchange naturally was
rehccted IN the Consolidated Stock and Petroleum Ex-
change where Oregon stock had been dealt in the
same principles were followed by the bigger
brokers. Prces jumped eNac6y in response TO the
various fluctuations Of the larger board and the
o. p crowd kept busy and excited through the
two hours session. Margins were called for vtsor-
susly when the rise began and 10 and 20 per cent
we're put UP by many brokers who were on the wrong
li0 of mar X
ng- Sc sheets. Most of the members of the Coz
toiidsted Exchange thOught yesterday that their
system Of eearances would work TO enable the shorts
b. turn around with less danger OF q squeeze IN
the net results OF the days transactions II any
orlppling losses have been inflicted however. they
viii not become evident until tomorrow, when LA
btes of yesterdays business viii have TO be met.
No runors OF trouble were current and the only relics
81 tho two hours excitement were found 10 the hot
and weary condition Of the brokers who had 10 scury
around ~ lively manner TO secure margins 10 meet
demands for them