The evening times. [volume] (Washington, D.C.) 1895-1902, 1898-03-29


stupendous market rigging schemes in the
history Of Wall Street was pulled OF yes
terday by the Gage-BHss- Hanna Clique.
on the strength Of advanced information
Of what President Mckinley would do in
settlement of the Cuban question.
The raid upon the bears was timed to
the fraction of a second, and when the
crash came they We're caught and almost
squeezed to death. What the consequent
Ces viii be can only be suggested. There
were ominous rumors of impending fail
ures after the board closed yesterday.
Several mighty bears. it was said, had
been wiped from the face Of Wall Street.
and among these the name Of James r.
Kaene was mentioned. Mr. keenc. how
ever. stoutly denied the rUmor, and de-
clared emphatically that he was all right.
In its greed for gold, however Wall
Street has killed the goose that laid the
golden egg. Ii has precipitated a crisis,
from which there viii now be no escape.
II has aroused the righteous wrath of a
nation. War is almost sure to follow the
greedy haste Of the money grabbers.
The opinion was general in Wall Street
that many congressman who have hither-
to been on the fence would now be forced
to declare themselves for the right. by
their indignant constituents From many
sources letters and kilograms flowed yes
terday to Washington, denouncing Wall
Street and demanding an immediate re-
pudiatiOn Of its attitude and pretensions.
The English of the situation is simply
this: The Gage BIss-Hanna clique had
given out a week ago that the time
would be ripe for a bull raid when Mr..
Mckinley sent the Maine report with
his message TO Congress.
Ii is asserted. on the highest authori-
ty that on Sunday at midnight the Pres
ident left the White House with Senator
Hanna and proceeded to the residence Of
Nice-President Hobart where he had a
conference with such eminent financiers
Bliss. Gage John G. Moore Of the
firm Of Moore & Schley. Of this city. Col
Paine and Henry w. Cannon, president
of the Chase National Bank.
What was arranged at this conference
can only be conjectured. but in the light
Of yesterdays events there is only one
inference left.
The clique OF gold was pilng up its mill
ions and the shorts were falling over
each other in their haste to cover
There ensUed one Of the most tumultu-
Gus scenes ever witnessed uDOn the EX-
change. Brokers acted like mauiacs.
climbing upon each others shoulders to
buy stocks. The whole list including
ii
rush. Anything and everything was
gobbled up regardless Of price.
The excitement continued with a few
slight reactions throughout the dav BY
2 o'clock the general public. having
caught the fever, swooped down upon
the Street with buy orders The brokers
could not attend to the business offered
them. At no time was any objection
raised by excited bidders on the score
OF price.
''Buy at any price" was the universal
cry. and at the close the market was as
strong as at any time throughout the
dav
The days business showed the enor-
nous volume of S50,000 shares dealt in an
unprecedented record because it included
the entire list.
Stocks fiuctuated by points instead Of
by fractions. Since the Maine disaster
the pet point Of attack by the bears has
been Sugar. Yesterday this stock was the
pet purchase Of the clique. They put Il
up ten points I'm two hours. Manhattan.
Metropolitan and the Granger stocks went
up from 4 to points each. St Paul
bounded half a dozen points and in less
than a couple Of hours 102 coo shares had
been dealt in.
Wall Street has not seen such a panic
since the famous bull panic Of MAY, 1893.
when Sugar opened at 81, ran down to
81 and then travelled back to IS: on the
same occasion General Electric opened at
S. went down TO IS. and then up TO so.
Yesterdays panic was scarcely eoualed
by the famous bear panic of 1855, when
the bears, headed by Henry N Smith.
and making their headquarters at the Of
flee OF William Heath & Co, fought saw
agely for many months. Heath and
Smith were ruined in this raid. and Jay
Gould was caught to the tune of about
100 coo shares.
The present bull raid teens with sus-
picious features. The beginnings of the
movement were seen on Saturday, when,
despite depressing rumors the market
showed remarkable buoyancy and closed
strong. The clique of gold had passed
the word along, and the peace-at-any-
price cohorts were placing their batteries
Allie J. Wormscr, son of Isadore
Wormser, New York correspondent of the
Rothschilds. returned from a six months
trip abroad last Saturday week. and on
the following Monday bought heavily of
all the active stocks. Yesterday he offer
ed TO bet $4,000 that there would be no
war with Spain.
The brokers for Moore & Schey bought
heavily during the early hours Of trad
ing. Standard Oil was not left out in the
cold. II was a heavy buyer of Sugar
and its own shares performed amazing
acrobatics. In a few hours its certif-
Gates bounded from 339 to 372 a marvel
Gus gain of 80 points
While the unsuspecting bears We're eat
ing breakfast the favored sons o. the
Administration were fixing the London
market. which opened strong and con-
tinued TO rise on buying for New York
account
When our own board opened the mar