The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-30
now rHE sENI TSHs SPECULATE.
seven or Eight Senators Who Habit
ualIy Indulge in stocks.

w. e. Curtis in the Chicago Record.
There is comparatively little specula-
ton in Washington these days. There was
a squirt in sugar certificates when the tar
ift bill was reported to the Senate, but il
lasted only day or two, and very few
people took advantage of it. The reports
that have gone out from here concerning
speculation in sugar certificates by sena-
tors are very much exaggerated. The
number of shares bought and sold this
year Is Insignificant compared with the
deals when the tariff bill was under con
sderation in 1891 Then everybody was
plunging. The rich senators and men,
Ders of the house We're buying and selling
docks of 5,0O0 and 10000
shares. Their wives and many
other society women were max
ing pools and giving orders over the tele-
phone to brokers in f street. One woman
was said TO have cleared $4,000, and a ste
nographer who writes letters for law
firm in this city cleared enough TO buy a
comfortable house.
The committee clerks and even the pages
in the Senate got the fever and were hang
ing around the bucket shops, where even
80 cents could be placed at a margin for
a single share. This year there was no
such excitement although If there should
no IL RiOlOlStQ ueDdle over the sugar
schedule in the Senate and trust certii-
Gates should fuctuate in value. the ex-
perience of three years ago may be re-
peated.
There are seven or eight senator's who
habitually indulge in stocks. There were
more in the last Senate than in this. Two
or three of them are very heavy traders.
Mr.. Brice and Mr.. Cameron always have
a large margin on deposit at their brokers,
and place orders nearly eVerI day. SEN
ator Smith of New Jersey is also a regu-
lar trader. Mr.. Ell<ins deals in industrials.
Jones of Nevada, Murphy of New York.
Quay of Pennsylvania, Sewau of New Jer-
sey, Wetmore of Rhode Island, Wolcott
of Colorado and several others take a shv
at the market now and then; but l can
not find that any of these gentlemen took
advantage of the action of the finance
committee regarding the schedule.
great ado has been made over the
fact that an eccentric individual, who ac-
cidentally made some money by speculat-
ing in government bonds two or three
years ago, opened an Office here lust be-
fore the sugar schedule was reported, and
closed 1t just after The inference is
drawn that he came here for the purpose
OF acting as confidential agent for spec
| ulating senators, and knew IN advance
what the sugar schedule would be. The
facts are that this person endeaVored 10
lOLOllGlY gained
year ago to do a brokerage business.
| He rented an Office fitted 1t up hand.
| somely, leased a private wire to New
| York, advertised In a sensational way IN
| the newspapers, made himself as conspic-
uous as possible about the hotels and the
capitol, wrote letters that contained mys-
! teriouS hints as to exclusive knowledge
and facilities for operating. and PLAYED
| every possible game to make friends and
| advertise himself. But I am told that he
| did not succeed in getting a single client,
! and at the end of the month he paid his
rent, sold his furniture. and gave up his
office, and went back to wherever he came
from.
Congressman who speculate do not do
business through such agents. They are
| very sly. They employ brokers in whom
| they have confidence, and these brokers
call on them to receive orders, or tell them
over telephone, or by notes sent by mes
! sengers, and when hue and cry is raised
! they withdraw entirely from the market
| There are two or three brokers in this
| town who maintain offices ana private
wires TO New York without showing evil
| dence of doing any business. You seldom
| see anybody In their places, but they en-
| ploy two or three messengers, with BIZ
| cycles, who are constantly coming and
| going, and II any one would take the
| trouble to follow them they would probably
lead him to the residence Of a public man.
There Is young lady in charge of a tel
] ephone booth in the Office of the sergeant
alarms Of the Senate who could tell some
| interesting stories II she were summoned
| before an investigating committee and
! compelled to testify. Her booth is visited
| by certain senators at regular intervals
She calls up some brokers' office, passes
the receiver over to the senator, and then
retires and shuts him in with his own af-
| fairs.