The sun., 1901-05-05
total profit on the whole transaction


stock at J46. He has made sl27,O0o. Ac-
cording TO what should be fairly reliable
! Information. Charles W. Morse, eX-Presi-
! dent OF the American Ice Company, has
| been buying bank stock and is s5,OJOu0O
! better of than he was when ne began ms
! purchases The story goes that he bought
/ City Bank stock AT $50. and that hc also
| purcha 'ed Knckcrbocker Trust Company's
stock and stock of the Bank Of New Am
sterdam. He got the latter AT GOO and II IL
! now quoted at 400. Joseph Helmer-
! dlnger bought Colorado Fuel and Iron a
! few weeks ago, on the advice Of President
Osgood Of that company, and he sold out
on "Wednesday at profit of sj0O.wO.
| Ex-Congressman Jefferson VI Levy
! Philip j. Britt. who is sort of continuing
! counsel 10 the sucC, ssive Tammany Sheri1s;
! Jacob Field. and Oscar 'lschirky. the major
! domo ut the Waldorf are also among the
I winners. Mr. Levys friends say that h"
! has cleaned up @,00OoO, while young
! Britt is said to have made s2DuOO. Jake
! Field, who Is regarded rs one Of the biggest
/ traders in Wall Street, Is credited WIN
having won out about 5000 GEO IN tho past
! three months Oscar g,!csses he's made
| almost as much as the chief room clerk,
| These ARE Instances OF the winnings or
men who are either experienced Wall Street
| operators or who occasionally tah" Flyers
| in stocks There il another class made
|
| who have also made comfortable fortunes.
! A number Of residents Of western New
! York and western Pennsylvania must be
| included in this list
They may be properly said TO be under
the leadership Of Pennsylvania who
made n good deal of money out OF lumber
! and then went into one Of the steel com
| panies which was absorbed by the United
! States Steel Corporation. When he got
! into steel il was necessary for him 10 come
! to New York. He is pretty Seedy looking
| citizen So far as his dress is concerned, and
! the regulars in Wall street were inclined
| TO have fun with him. When they got
| better acquainted with, him they learned
! better. About two weeks ago he sat talk
| ing in brokers' Office with some friends
! One of his acquaintance said:
| Il think III buy 800 Union Pacific
! Union PacifC?" inquired the Pennsyl-
vanan Think that's good? All right.
| See that get 5000 of the same"
| Low whistles could he heard all around
! the trading room. but the order went The
! next day the man bought G,Ooo shares more
/ Of the same stock and he GOT out before the
! decline He told a friend AZ the Waldorf
: on Friday night that he cleared MP s250.vW
, In the past three weeks and he thought
/ he'd so home and attend 10 the saving Of
! somc los that he had neglected since he
! had been "fOolin away 50 much time, gosh
! darn II. down here in York" His friend
! suggested that he had better stay and try
. his luck some moro.
| Reckon not" was the answer. reckon
! not. I've done fairly well and the boys
/ down my way have been in the game with
! me and they've done pretty well. amt
| very ambitious and ] guess III rest COM
Portable with what I've got"
Men like thc'c from all over the country
| have been drift tng TO New York the past
| six months drawn here by the fact that
/ they have owned some business which some
trust wanted to absorb They have gone
| into these trusts. caught the speculative
! fever and fortunately for them, caught
! II al the right time and have landed win
! ners They and their friends have greatly
! increased the number of spectators IN
! Wall Street.
chicago adviccs received in Wall Street
| Yesterday reported the following ad-
! dtional Chicago men "a among The blg
! winners in the bull market: John Dupcc.
! 81 OO0 600, John j Mitchell. $1,000 GEO. Mar
shall Field. s2.ooo0oo. In the Union Pacific
rise il is said that Charles Head Smith
! mad" s5OO.OOO within ten days Oihor
winners include f. j Borwind, the coal
! man. and some Of his friends who are
! understood 10 have cleaned UP between
| So. .OOO. 900 and sS,OOO,OOO as the profits Of n
| pool in the stock Of the Atchison road
! The Berwind pool began buying Atchson
! common last year when it was selling
| around $50 a share On Friday morning
! tho stock sold az 800 Wall Street got
/ word Of the big accumulation Of AiChsOn
stock and reports were circulated that
! the accumulation Vaa being made In the
! interest Of tie Pennsylvania road This.
however met with positive official dcnlas
The pool. It was reported yesterday. liqui-
dated all It's holdings this week.
The money made by the commission
houses must not be overlooked Neither
must the fact be forgotten that large
amounts Of money hay" been made on
foreign options put ont in London The
saving is that they will sell an option on
anything IN London, and during the past
few months London brokers lave been
selling those things invented 10y Uncle
Russell Sage and known a. calls. These
calls have been largely on American sr-
curiticS and they hav" been grabbed up
hv traders in New York Tn" calls were
sold when tho market was normally pros
pcrouS and were held until the great rl-n
began. Then the stocks were called from
,h" gentlemen in LONDON to the enormous
profit of tie American buyers.
lno commission houses have, or course
hcon inst raklng in money All the b.,
houses have Outsld" brokers' who are known
n, the s. brokers In Speaking about the
commission business yesterday on" Of these
g. brokers said My business for March
Amounted To- $1,000. and on last Tuesday
II amounted 10 s. 500 There are 100
brokers who are m"mhers Of the Srocl,
Exchange | do not h"lcvo il would be an
cyagCoratiOn 10 say that The business Of
each one Of thcs" 100 has averaged g. 600
u month for the past Xix months II my
estimate T." correct, 233,OuuurD has teen
mad" 10y ~" stock Eychang" brokers since
election or course. not anywhere near
NIL the members ~ The Stock Exchange are
active traders 50 that this amount must
be divided up among much smaller num-
Der
a. an instance ~ the business that some
Of the commission houses, m'ful crS Of Ihr
Exchange. have been doing ! may tcl Won
hat the records Of m. clearing House for
last Friday and saturday, n week a..o.
showed hat one house alone had dunr a
business of 10000 shares of stock IN those
two DAYS
\ story was told yesterday Of a cal lhat
was made upon j. Pi"rpOnt Morgan fl.st
before he sailed for Europe just after
Nlr Morgan had opened h.- desk one morn
INC. u Young, wcl-grnomel man walked
straight into the flnanclcr'- Office rs If Lr
wor" accustomed Ia drop In every day
Maybe lr thought he'd better go in thl'
way, lest he should not gci mat HII Reach
ng the desk, b" said
Good morning Nr Morgan I'm Mr.
know m" and never heard Of me-. Maybe.
vou'll never hear OF me acau lust
dropped IN 10 tell yuu that you yc madn me-
n millionaire and I'm much OBLIGED 10 Won.
Your St'ci company bought some stock
! owned Good day, sir clad 10 have
met you.