Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-22
TRICKED THE WHOLE STREET.
False Rumor About Burlington Gave
PlOtterD 100000.

None of the attempts to tap the wires
from the race tracks to secure early knowl-
edge of results and then swindle the pool
rooms were ever planned on such an ex-
tensive scale as the swindle that was car
ried through yesterday in New York, net
ting the plotters 100000.
The whole speculative world has been dis
cussing for weeks the quarterly dividend
which 1t was expected the directors OF the
Chicago, Burlington and Quincy road would
declare at their meeting at Boston yester-
day. The stock has been a per cent one
in quarterly payments of IA per cent.
The board of directors. with all the re-
ports and data before them, went into Sc
cret session at noon yesterday, as tele-
graphed to The Star with the reporters on
the various newspapers on the outside.
Among those waiting was c. w. Barron OF
the Boston News Bureau, which makes
specially of financial news. In a few mo-
ments after the meeting began the tele-
phone in the Boston News Bureau rang and
voice something like that of Mr.. Barron
announced that the IL per cent dividend
had been decided upon. In flash the news
was upon the special wire In waiting and
was in the financial news agencies In this
city. Another clicking of keys, and the
tickers on the exchange floors and In dozens
Of brokers' offices told the same story.
The stock had closed the night before at
13 bid. 1t was then at 731a. and with fast
and furious bidding and selling the price
rose to 74es, all in a few minutes. Then
came a halt.
The stock might have gone UP a few
points further had not the telephone boys
frantically motioned to the hustling and
excited brokers on the floor that a check
mate had been called on the game. The
boys were getting the calmer, later In
formation, which was then trickling into
the offices. The price started down, but be-
fore 1T had reached the starting point Of
1914 a round total of about 10000 shar,
had been sold, on which the tricksters were
ready to enjoy a pleasant Thanksgiving.
When the directors came from the couu-
ell room and announced that the current
business of the Burlington and Quincy road
did not warrant more than a 4 per cent
annual dividend the revised news was sent
cut. Away prices started on the decline,
and during the remainder of the day Dur
lington went down and down to a closing
5000 shares. This was the opportunity Of
the tricksters, who could buy back at 10
the stock which they had sold at "a only
an hour or less before. and thus pocket
the very handsome difference of 81 per
share between top and bottom prices.
There was indignation deep and bitter
when it was explained that the first 'pnone
message in the voice of Mr.. Barron was a
clever fiction.
Nor was the opportunity of the sharpers
confined to the one stock. The whole mar
ket, and the Changers particularly, moved
in sympathy, so the efforts of the in
siders might have covered the entire flow
with profit.
The telephone authorities are making an
investigation, with slim chances of a cap
ture, and for a time brokers will be 10th
to operate recklessly on points taken from
a mysteriously loaded tape. A cool s1OO.OO0
or more was neatly raked off by the trick
SterS.