The sun. [volume] (New York [N.Y.]) 1833-1916, 1900-03-22
SOM MY ron 1HE SHORT.


Things started Up.
When Will street sui' up shop on Tues
day there was , short interest In Third A'enu"
stock OF somewhere in the neighborhooi OF
80. 900 shares. and as THE Sun said yesterday
morning. the shorts felt a little bit more COM
Portable than they had been feeling since Mon
d,y afternoon. when the Metropolitan folks
completed their purchase Of Third Avenue
stock and were In q position TO squeeze the HE
out OF them. Many Of these shorts felt really
that the limit had boon reached and thattheyd
lust sit back when the market opened again
and rake in the shekels rs the stock sagRei
back 10 what they were pleased to think is
norm Al value. aboat 40. Al any rate. they fig
ured IN 10y hal sold enough other things that
we're sure to go down. to pull them out On
Third Avenue. even II that did fool them ngain.
This feeling OF comfort lasted with the shorts
until late In the evening and some OF them
made merry at the Waldorf Astoria and tho
other hotels. In the meantime they had their
sta,isticIans figuring again 10 ind out where
Third Ayann" stock was held and where they
could get hold Of 1t. These statisticjans had
ciphered out a visible supply of 10000 shares
OF the stock that might be rurchasahle on
Monday. They had some additional informa.
ton 20 work on. IL was this: That wnen the
stock books OF the Third Avenue road were
closed preparatory TO paving the dividend that
WAS not paid there were the names OF ZOO
shareholders on them whose average hold
ing was thirty shares: and that In addi-
ton to those unattainable and scattered
holdings, most OF them of years stand
inv, there were over nifty lots OF
stock held by administrator and guardians
who under wills and deeds must hold it. These
ffty blocks aggregated l 800 shares. The sta
t~isticianS figured thus: Held by Metropolitan
Street Railway. 49, 900 shares at least held by
the syndicate composed OF j. 5. Bache Il Co.
James R. Keene and others. 32,OO shares OF
Hart stock held by executors and guardians.
1900 shares: held by 300 shareholders In
ANAL lots. $4,000 shares: held by Henry Hart.
5000 shares. Total, l57.O0o shares unRetat-
able. Total stock issue, 10000 shares. Total
purchasable shares. 1900.
Now a. one short said. wouldn't that jar
your" II Jared tho shorts, IL knocked out
their comfort. II started them again "sweatin'
blood" After the statistician got through
ciphering the shorts did some ciphering them.
selves. They ciphered that as the visible
supply n stock on the exchange Tuesday
was in the neighborhood OF 10000 shares
som in the statisticians' list must have
let some stock go. They knew that the Metro
DOUrNl nam 7 , lldl lHf fNFCulpIN uHu hudI-
dams couldn't and that the 500 small share
holders. most OF them at least. wouldn't, Then
they concluded that some Of the pool stock
must nave got out Of the POOL and mat thcy
Some more facts came GUY about the pool.
The loan 10 Henry Hart by the pool managers
was made at q per cent, interest with . per e
stock, but held it on a margin % % per cent.
TO be kept good. They were bound TO return
When the stock went below IS the pool had to
put up more margin. When II got down to ~
the pool had 70 put up Z /. per cent. more mar.
made So per cent. 1t also came out that one
banking house at least that had been carrying
some OF the pool stock on margin had soldi OUT.
As misery loves mpan these shorts uptown
felt a little better after they had done their
share OF the ciphering. and they wondered
how much o, ths 100 p3ol sharss naI pssn
Henry Hart came around and demanded his
stock. That question was unanswered.
Indeed 10 was unanswered last night when
aga in the shorts. transformed now from bears
to lam 6s. made their way uptown at the close
The bears had their tails up when they
reached Wall street In the morning, Not even
the prospect OF getting out of Third Avenue, but
over the pocketful OF other short. interests
that they held in things that were sure go.
ing down; They crowaed around the Third
tn,Ssly s as on . h TTs"f iss g m8rnin Vas W bssun a
Third Avenue had closed at lOlh, It opened
at 102 and went Ia 1U2i,. The gray head OF
He was buying. CT, Carry, his l25 pounds
topped BY curry hair. hurled himself into the
mob Tor HOLSTER 4 Babcock and h9wled
Toler. the golf expert Of Toler 4 Halsey,
drove himself into the crowd, as hard as
he ever drove a e2lf ball an II "a seem a ;ew
iT MID" i62 TO ai 10Y to Iito3 S 'bacs again to i9ssnd
. ihsS to IL and nd III i2S without Inc iS a break r@as' and n%t here re.
to use another golf term. II vas bunkered for
awhile, while, ThIr.l Avenue was going up.
the mob swirled and hooted and howled, Now
and then there''l shoot out Of the crowd q rum
pied groaner. He had cove red. This shooting up
from lO2 to ~ was done on total sales OF less
than 5000 shares, so IL will be- seen Just how
little stock there was 10 be had. Gradually the
shorts around Third Avenue cleared out and
started IN 70 realize on the sure things; but
Surely, the shorts werr, up against it and the
tails Of the brave went Gown and they began to
realize that they wrr" Just plain iamSs In bear
The Brooklyn Rapid Transit post collected
the second crowd. pushing. hauling and shout
ing. Henry 2uckerman lrapei into it. shout
ing 1000 shares for sale, and tho mob cen-
tired around him They tipped his hat over
his. nose, grabbed him ty the collar. lostled
1000, J. $ Halle. long and slim: o, Halle y
s%tiegiitz. and big ", II R2lston o, Rolst2n s
Po!hemus OF strong. Sturg : & 60, who looks
like a college student, his lace bare Of hair.
climbed in with orders To ny. william i,
Nivin. of W. X. Hough'hlin ing 4 Co. was in the
thick OF that. too, an undersized bear hurting
wads Of paper into his pompadOur hair. while
Kiss Wormser advised him to get a stepladder.
The Wormsers. kisa and Louis. were in the
Metropolitan Street Railway crowd buving and
selling Metropolitan witt impartiality.. There
were twenty crowds there in the morning ana
the shorts. or bears. hum ped themselves from
crowd to crowd. only to find that the corner IN
Third Avenue had started the ball upward and
III, h = N cha ne "a on IA limos Nn MN mar
was active the longer gov their faces. But
ginger wasn't out of all ot them. vii.
lam b. Oliver. Jr.. was the centre OF
Ave or six crowds. but. the shiny, hat
As stated before, Third Avenue was in n bunker
at ll2. When IL got out II went 4 Tn, but II
was ike cold mola-~ns IN its running. II got
back by eighth to lT'. tn'n 20 lOS and then TO
1O7. when IL stuck again. But ne transactions
were all OF them small. and whlletthe strings on
the stock had been loos"nai and there was n
little more to be hal. theyswcre tghtened every
now and then and there was still n good pre-
MUM Offered for the loan uf stock to tide over
another twenty four hours.
Metropolitan. were holding their crowds,
things were nNng for more boosts thai would
make the shorts feel like lambs. \ Moore u
Schley broker stalked into the Union Pacific
crowd and bought 800 shares OF that. That
started the ball there. 4 tall, p%iraticaI looking
He was Frank W, Savln Of F. W Savin 4 Co.
He wanted 1000 Union Pacific. He rOared
Everybody else roated ami shook fists.
The 1000 were bought in IA minute samuel
Campbell. short and stout. Owed through the
centre. his pea Jacket lying open, ana he got u
lot Of II. A minute later the autumn head Of
Edwin G. Bruins Of Brown. Bruins 4 Co. showed
above the shouting mob and he praurei mp