Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-09

but Sir Richard Sutton declined to take
the advantage.
On September u the Puritan and Genes
ia made another attempt to saii n race,
but the wind died out soon after the start
the Puritan having the lead. and the con-
test was declared mo race" on September
10, after waiting four hours for n breeze
to spring up. the race was again called
off. Finally. on September H. race was
sailed over the New York Yacht Club
course and the Puritan won. Two days
later the Puritan outsailed the Genesta
over the ocean course and the cup remain
ed here.
Volunteer and Thistle.
The next time the wind and weather
caused n postponement was in 1887, when
thu Volunteer met the challenger Thistle
The first race on September -, was sail
ed under favorable conditions. the Nolun-
teer winning. The next race was scheduled
for September 20 but the yachts did not
even start. because of calm and fog.
The following day the Volunteer won. In
1873 the Nigilant and Valkyrie furnished
two tlukes The first contest, set for Oc-
toher J, was declared mo race" II
declared OF when the Nalkyrie, which
leading. ten miles from the finish line.
The yachts had started TO race fifteen miles
TO wtndward and return. The two follow
ing races resulted in victories for the Vigil
liant. In the fourth attempt. October
II, the yachts sailed about IN the dark
until 10 pm, when the time expired. It
not unit! October IA that the deciding
race WAS sailed Visilant winning When
the Earl Of Dunraven brought over his
Naikyrie III, in 1895, there was Another
fuke. the third race being sail over
for the Defender. The challenger after
crossing the line, turned back her owner
refusing to sail because no guarantee of
non-interference by the excursion fleet was
given.
stock Room investigation.
Stories of recent improper manipulation
of the call money market are being inves-
tigated by stock exchange governors. with
view Of preferring formal charges
against offending members of the exchange.
If sufficient evidence can be obtained. IL
Is the contention of the governors that,
although transactions in money on the ex-
change are not recognized officially, It Is
the duty of the management to see that
every agreement made on the floor is made
in good faith, to the end that the integrity
OF the exchange may be preserved. Wall
street gossip has been concerned for sew
eral days, since the forty per cent call rate
obtained, with the story that the high fig
ures We're the result of manipulation and
were Intended to effect speculative seati-
ment and cause the liquidation of stocks.
1t is this gossip that has spurred the gov
errors OF the stock exchange to action.
They intend sitting the matter and fasten-
ing the blame, If there is any. on the Of
tending money brokers and traders who
We're concerned in bidding up the rate Of
hcers and governors persistently refuse 20
anlrm or deny that they are investigating
From a trustworthy source however 1t
was learned that an inquiry has been start
ed, and that If any basis for the current
gossip can be discovered certain members
OF the exchange will be brought before the
governing committee specific charges
Among members of the exchange opinion Is
divided as to whether any punishment can
De meted out, even If it is proven that the
money rate was manipulated. They point
out that transactions in the money crowd
nave never heretofore received the official
attention OF the exchange, and that the
exchange takes no cognizance of the rates
mace IN the money market on the floor
others, however, take the position that 1t
Is ehe province OF the governors to see that
all contracts made within the walls of the
sNchanSe are legitimate and in good faith
me lenders and some of the borrowers of
call money at the high rates recently pre-
vailing declare that the figures then oh
tanning We're strictly legitimate ana result
ca from demand that was in excess of
the supply of funds. The consensus of
wall street opinion, however. is Of he OPP
posite sort.