New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-15
THE CRASH IN "WHISkE1."
HOW DOES Mr.. KEENE STAND?
4 BREAK THAT is SAID TO BE DUE TO INSIDE
TREACHERY-EFFEcT OF CONGRESS

TREACHERY-EFFEcT OF CONGRESS
AGITATION.
The speculation In the two hours devoted TO business
ut the Stock Exchange on saturdays overs allowed
yesterday by the enormous tran actions in DiStilng
and Cattle Feeding stock, and the heavy liquidation
which look place. There a break of more than
per cent in the brief session. and the transactions ran
up TO moro than 10000 shares. nearly one-third
Of the entire business done in stocks The tremendous
entpouring OF long holdings dampened the buoyant
tone with which the general market opened and even
tne IamhIany I!an friends Of Manhattan Railway stock
were compelled TO see their favoite break about per
cent. The railway list stood the shock Of the break
ID socsiled "Whiskey Trust with remarkable stability
ana VINE the confident temper OF speculation was modl
nd the net losses In the PRINCIPAL railway stocks
Ihc'bnal. Part OF the downwMd plunge in Manhat
tan was explained as due to the execution OF stop
orders met by sellers at certain ragged points in the
course Of the markets movement
Inc smash In the Distlng and Cattle Feeding
excited a variety Of runners with regard to james
. H. Keene. Mr.. Kccne has been credited universally
With having been great bull that stock for
some time He is said 10 have bought a large
amount Of the stock when it Huctuatiug around
nfy. and the bulg. into The seventies was credited
70 his ehlfu manipulation The original pool In
the STOCK, II = generally believed, included number
Democratic capitalists high I'm the council Of their
party The result Of the Presidential election last
november effected an important change in the views
OF many men Of wealth. and n decided element Of
uncertainty was introduced into the future Of numerous
neustTial enterprises. The decline in the price Of
O's'lEng ard Cattle Feeding stock In the last few
weeks has been steadily contested by Mr.. Keenc
according To the stories In the street. lie has been
steady buyer Of the stock until the last two days
believed. when the crash Of liqudaiing sales
y said to have forced him 10 stand from unders
There are conflicting opinions in Wall street as TO
tanAe In h. l..
decline IN the price OF Distllery. When Tribune
reporter asked Mr. Kccne yesterday with regard 10
Ce matter Mr.. kcenc said that he had no statement
Whatever 10 make. There are persons In Wall Street
WHO ccclare that the big operator has been on the
Tight side" OF the decline, just as he was In the
case Of the advance. There is another theory that
NJ Keenc has been betrayed 10y some OF the directors
o. the company who have been steadily selling stock
70 him. In violation of the pool agreement Mr..
keene has frequently been posted by who have
peen recognized as being among his following as
Peoic'ng high prices for the stock based upon the
statements of large earnings made to him by men
VINO should know the condition OF the company lie
Is said TO have earnestly advised his friends 10 buy
.ne stock and TO have been heavy buyer In the
iace OF selling by insiders" Mr.. Kcenc Is reported
20 have taken up the accounts Of many persons who
oepenoed upon his advice. Ills own loss must be
s'ere II the story Is true that lie has tried TO stem
'e downward plunge In the stock.
Inc excuse for the weakness in DistllDg ycstcr-
say was the announcement from Washington that an
~uer Tor an Investigation into the affairs OF the COM
Vsny would be attempted I'm the House OF Repre-
~"Auves Fear Of a Congress attack upon The com
Pany were excited. and II rumorcd that fresh
"is would be undertaken BY the United states At
eoneytScDeral under the sherman antitrust law
Inc circulation OF petition in Walst intended 20 be
pesented 10 the Governing Committee OF the Stock
Axchangc. asking that the stock of the Disabling ana
Caulc Feeding Company be stricken from tho liSt was
~ additional help TO the raiders upon the stccK
mere were many brokers who were willing 10 De
aooncc whshcy trust" as a pet Of "dcmoialzins
nan'pulaon" In their private conversation yesterday
out II could be learned that many important sig
natures had been attached TO the petition
One OF the reports In Wall-st. In the last few days
ss been to the effect that s. V. White and Mr. kcchc
nd had quarrel. Intimate friends Of both men
%sy that there has been any controversy. MI
wmie has openly decld that he bought 1000 shares
o. Disabling. and his hiends that he did this I"
seip Mr. Kecnc stay the pressure Of stock Mr. White
nus gone 10 Washington and the street gossips say
ual the purpose OF his visit Is TO try to determine
Whether slock-tobbng motives are at the bottom CT
me talk about an attack by the National Legislature
snore were dispatches from Chicago YESTERDAY ina,
afPored TO give the assurances OF insiders" that
we Disuling Company earning all the big money
vInch sud to have induced Mr.. Keene TO take pro
n'uhced "bullS position on the property.
The wHIsKEY TRUST READY TO ANSWER.