New-York tribune., 1900-03-21
PRICE THREE CENTS.
SHARP STICK FOR KEENE
WHITNEY INTERESTS PREPAR-
ING PUNISHMENT.
THIRD AVENUE THE WEAPON IN THE
FIGHT on THE BEAR LEADER-A
LIVELY HUSTLE FOR HIN.

est attached 70 the transfer from the point OF
view OF transportation changes ard possible
effect upon travel in this city marks an inter-
esting stage in the financial war which has been
waged in Wall Street for several months be-
tween rival interests. Il was currently reported
in Wall Street yesterday that James R. Keene
had been caught TO a certain extent IN the
sudden change Of conditions. and was not happy
the outlook. Il said that he had
gone 10 his office at o'clock in the morning
and in the course OF the day had appeared much
worried AMI harassed.
Some time ago the fact was printed that Mr.
Keene had in connection with others taken
the holdings Of Henry Hart, buying part
outright and giving him the right 10 call
for the rest at par. II is said. and Mr.
Keene has not denied il. that he personally
assumed about thirty thousand shares OF the
stock. Then Mr.. Keene according 70 report.
turned in and began 20 sell the stock sharply.
II is said that he sold il all the way down 20
30. and relied upon the stock OF AEr Hart TO
meet his obligations. AS the price went lower
and receiver appointed, the Metropolitan
company, which has always eyed the Third
Avenue lOngingly. but which in the past has
felt that the stock was selling too high. con-
ceived the purpose of getting control OF the
road When the receiver made his report. the
Metropolitan people began TO figure
WHERE GREAT SUNS COULD BE SAVED.
They saw the great depreciation in the value OF
the stock and where great sums could be
saved in operating the road in conjunction with
the Metropolitan. II. II. VreeIand president OF
the Metropolitan who had in the past advised
against any attempt at taking over the road.
after a careful study Of these figures recently
told Mr. Whitney Mr.. Ryan and others that
he thought it would be a good business venture
for the Metropolitan 70 buy the road at the
Wall Street price of the stock Mr. Whitney
said last night that the Metropolitan interests
have absolute faith and confidence in Mr.. Vree-
lands judgment and when ne gave that advice
they had Immediately started in TO act upon IL
Perhaps-but Mr.. Whitney didn't say so-their
action made all the more satisfactory be-
cause they believed that Mr.. Keene was short
of the stock
Mr. Whitney was seen al his home No 81
Ffth-ave.. last night, and he talked interesting
ly about the big transaction. After passing over
| the inception and consummation Of the trausac-
tion. with all its ramihcations. Mr. Whitney
was asked:
Whose stock did you buy?'
Il don't know" replied Mr.. Whitney. We
went into the open market and bought IL II was
purely an impersonal matter with US. We want
ed the stock. We bought it. We don't know
from whom; but. of course. we shall expect de-
| livery
Did you buy Mr.. Hart's stock" was asked
/ II don't know came the answer
| The general impression it was suggested 10
Mr.. Whitney has been that there was not
enough OF the stock loose for any one 10 buy
get control Of the road"
Possibly" answered Mr., Whitney with
twinkle in his eye, we bought some which the
persons who sold it to didn't own"
In that case9'' was suggested.
1T is an irpersonal matter" replied Mr..
Whitney. ''AH We want is what we bought"
DO you think that Mr. Keene has sold the
stock that Mr.. Hart pledged with him?"
I am sure I don't know replied Mr.. Whit
ney. That is a matter which, I said. is
lmpersonaL"
DO you think you would have been able TO
buy enough to get control unless this very large
block of Mr.. Harts stock, which Mr.. Keene
had in hand was thrown in?' was the next
question.
That said Mr. Whitney. "is something I
don't know"
Suppose" was asked, that Mr.. Keene had
sold the stock what could Mr.. Hart do?'
L should think and here the twinkle came
back in Mr. whitney's eye. that Mr.. Hart
could hold Mr. Keene 20 the agreement, II
/ there were such ore"
APPEALS TO MR.. HART.
II was learned yesterday from trustworthy
source that Mr.. Kecne had tried hard and per
sistently yesterday TO set Mr.. Hart 70 vacats
the contract regarding the call for the stock
So far as could be learned last night. he IN
successful. Financiers and others who are IA
miliar with the situation and who knew OF this
/ effort the part OF AIr. Keene 70 get the con-
tract vacated were saying last night that every
one would watch with great deal OF interest
Mr.. Keene's policy in the market to-day. II
/ would be interesting. they added. 10 see whether
/ the stock advanced and Mr.. Keene would be
/ forced 10 cover at a much higher price or
whether it would sag that he could cover
without greater loss. assuming that he is still
short II the general opinion that the con-
hdence inspired by the transfer of the property
/ TO the Metropolitan Street Railway Company
/ ard Mr.. Whitney's confident remarks about the
/ great possibilities of the road as an earning
/ power in the future would cause the stock 10 go
/ much higher to-day.
/ There. has been q great deal OF gossip or late
/ about evidence being presented 70 the Grand
/ Jury to secure the Indictment OF certain oper-
in Wall Street Some DAYS ago the presi-
I dent Of the State Trust Company gave a
+ statement IN which he referred 10 Mr. Keene as
being in q conspiracy 10 depress the securities OF
I his company.
] II was said last night by several men who are
| in a position 10 know that certain powerful III
/ gently been collecting evidence about certain
| transactions Of Mr. keeue. and that they IN
a rather ugly mood It intimated that they
/ had spent great deal OF money and also much
/ time in accommodating this material. and that II
/ not improbable that they might make use
I OF IL. Mr.. Keene was in DslmOntco's with .
party OF friends last evening but he would not
+ talk.
/ THIRD A We. TAKES Il LEAP L-P.
/ >-T,-r r.vN- ron TUE ~ or rers porNr-~0