New-York tribune., 1890-05-30
REAPRAIp on CHICAGO GAS And SUGAR
r1,NoEs ABOUT JAMES r. KEENE's FINANCIAL
STANDING DENIED BY HIM


Wall Street Yesterday enjoyed one OF those exciting
incidents which are foreign to the progress OF
an upward speculation. vigorous "drive' was mado
30 the hear opel,tors against Chicago Gas Company
and suCar Rcnncrics stocks. IL derived additional
support from the fact that the break In these TWO
stocks furnished large part Of the comment OF the
Street on Wednesday Shortly after noon prices began
to run of rapidly through the general list, ana before
the decline was checked there had been circulated
multitude Of rumor, to the financial standing OF
r.nes r. Kccnc Those which took any definite shape
were emphatcay denied before the close OF business.
The fall in prices seemed the more startling to
traders because Of the agreement on wednesday ior
the restoration Of passenger rates by the Northwestern
railroads. as announced in The Tribune Possibly some
use may have been made by tie bears OF the dlsap-
pontmcnt which may have followed the discovery
that some Of the morning newspapers were wrong III
announcing that agreement to restore southwestern
messenger rates had also been signed The position OF
affairs is as stated 10y The Tribune, that negotiations
are undcr way looking 10 that end, with every pros
ucct Of success, and that their conclusion coud De
reached spccdily If the Missouri Pacific ordered an
advance in rates without further parey IL Is certain
that the Atchison, Topeka and santa Re and the
o,ncr limos concerned i'm the existing conflict would
uromptly follow the example of Mr.. Gould'S com
pany.
The sharp rally in stocks before the STOCK TX
change closed robbed the rumors relating - Mr
Kcene Of much of their former slsnlhcdh'c' 'hc III
the report, alleged That Mr.. Keenc had lost some OF
hi, holdings through the self protective acton of some
of his brokers, but it impossible to hnh any one
who could Worthy the story. IL was generally con
coded that a iquidation in some directions had been
enforced by the afternoon break, but tH' consensus
of opinion was that tho prOce-, h"d nen'ulrd lle
market By transferring stocks from Wcih n@nu' mo
stronger onc,. Friends Of Mr.. k"'ue assert tat even
II he ha, yielded part of h, profit, - urea on me
recent rise in the market. he sill retains po'iuou
c.uablr Of future influence There were many 'N
r.,,ons Of regret when the rumOrs were hr,t sai'h
a. Mr.. Kccnc engage, the sympathy ol thc i.hilHS
element bv his restless movements IN tIt hIhl i'u
thc sevcrc,t criticism directed against MN lhpIc7
simply that he may have ovcrestlnated MS influence
Inst before . O'Clock Tribune reporter uiIe'l'u
to the Office II Emerson a. Turner, 10 thc Johh,loli
I.uilding. at Broad L. and Exchange Ilhcr 10 my
Mr. Kc.uc knocked at the closed door. ~ WAS opened
hy MIR Kecuc himself who. In reply TO General
statement II the current rum0rs SAID; ln'rt - no.
th- faiutc,t ,cna of truth In them not thc falhst
sciutilla have not sold stJck5 10 day. but' on tlc
contrary have bought heavily f0r the best oi people
/ cannot be- expected 10 give the GetHh q" INV Du'I
res- but there /. mo- foundation whatever tr any ol
ba storlc, mat I have sold ont or been .oh ont or
had any dmculfv with my brokcfS. VIZ. h''he
,d,od that be- thought ~" DAYS reaction was most
healthy one tending to -olidIfy the market.