New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-08-08
THE BOOM IN STOCKS.
crvrRAL RISE ALL ALONG THE LINE


,.,orsr sAruRpAY BUSINESS IN MORE THAN
s,x xoN11Is-cHIEr ACTIVITY IN MANHAT-
rAx-pEN1AL OF STORIES REGARDING
NEGOTIATIONS WITH THE METRO
PoLIrAN BY Mr. SAGE
rs.-. wo. a rood deal OF excitement in the
.,ock market yesterday at the opening The
.-s, nr,ces for leading stocks were anywhere
from one to four points above the closing prices
~ Friday The chief activity and the sharpest
avance were In the stock Of the Mammalian
psnwav. The heavy trading and the jump IN
,,,s stock were based on two printed STORIES one
=, which was that there was corner III 'he
stock which had been engineered py nusseh
Sage while the other was that an oHeT hau oee"
made by William c. Whitney for the Me'ropon-
tan Street Railway Company to MT sage anu
,he Jay Gould estate for controliihg interest,"
IN the Manhattan Company, WHICH oHer "ae
,,,ol, IN he accepted The first story was un-
-. ,rbara was however, a considerable short
,,arast in the stock and it scared into COW
.,,nr az considerable cost. The second story
,yos an. old one retold Manhattan. which closed
IN 7riday at 99A, opened at lO212, ana IN less
than minute up 10 loS. Then IL SLOWLY
,eceded to 104k 1t subsequently got up 10
,O6l. at which price II closed, making the net
gain for the day comparing with Fridays CLOS
,ns) IL per cent. The transactions IN Mahnat-
tan we're % 1865 shares. The total for all STOCKS
dealt IN on the Stock Exchange was o-''ooo
.horao which was the largest business on a
Saturday since December 2l, 1870 when the
Venezuela panic was in progress. The dealings
IN St Paul were 81 430 shares. and in Western
I-ri,n % 5O5 shares These the only two
larger
,r Manhattan The sales of bonds were ST.
10000, par value.
WHAT MR.. SAGE SAYS.
Russell Sage said Of the stories about the
Manhattan company and its stock: Il have hau
no direct or indirect negotiation whatever with
Mr. Whitney or the Metropolitan Street Rail
way Company. with any one representing the
Metropolitan company, in reference to TRANSFER
Of the control Of the Manhattan company 10
the Metropolitan company There is no truth
In any report Of any recent attempt py the
Metropolitan company to secure control OF the
Manhattan stock. About a year ago, however
somebody did come to me who may have repre-
eented the Metropolitan company as stated III
the newspapers at that time but he did not say
whom he represented. and am not able 10 say
that II was his intention to make an offer for
no offers of any kind have recently been made
70 any other directors of the Manhattan COM
pany Had any such offers been made ! should
have heard of them. have been pestered by
lots of individuals coming to me and laying out
schemes for consolidation. Most of these indi-
yiduals were irresponsible persons after COM
mission. In fact man did call on me a rev
davs ago with a big combination scheme, but
had reason TO believe he had no important
backing i have no desire TO sell my Manhattan
stock as I regard the Manhattan as gooo
property and have held my stock as an IN
vestment l doubt II Miss Helen Gould coulo
he induced to part with her holdings nnder any
circumstances as she has held strictly all the
stocks left to her by her father and she believes
IN the future. At any rate. there Is no lmme-
diate prospect Of a sale of any considerable part
OF the Gould interest or of mine to the Metro
politan company. to Mr.. Whitney, or any other
person or corporation. AS for the snort interest,"
in Manhattan stock. do not know to what eH-
tent II exists I lent 1000 shares to man the
other day. l do not know what he wanted II
for He may have been long of it,
MR. GOULD NOT EXPECTED FOR MONTH
George ]. Gould is not expected to return from
Europe for a month more. The Manhattan
stock Is said to be distributed about as follows:
Gould estate 10000 shares; investors, 1ooV"'
floating stock 2j,W0; Russell Sage 2oW"' ui-
rectors, 10000: Eastman syndicate loooo; SID
ney Dillon estate and Equitable Life Assurance
Society 10000; G. p Morosini, 1000; total,
100000
Net gains yesterday in of the leading
stocks were: American Sugar l. American To-
bacco /, Burlington and Quincy lPs Cahaua
Southern 21z. Chicago and Great Western l%'
Iarkawanna ~. Illinois Central 3l2, Illinois
Steel III. Lake Shore IA, Long Island 4, Man
haitian IN Metropolitan Traction :. New-Jersey
Central pa. St Paul rs, Leather preferred l.
High prices yesterday for leading stocks com
pared with the low prices this year maze the
following showing
Advance
Low High yes this
1897. terday. year
o.oeas. Ga, 1oeiS March 20 l45A 36ls