The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-05-16
STOCK MARKET hit
Washington HARD
Southwestern Senator Lost
$4,000 in One Day.
PETTIGREW'S BIG LUCK
TOOK JIM Hills TIP AID
CLEANED UP $4,000

N1ENLAeA III G4RDA@-ALN-F
Washington, May 12.-WaI1 street
caught a distinguished gentleman last
week. a southwestern senator. it is
stated, lost $4,000 in a day. If his name
was mentioned it would create a good
deal Of gossip in the southwest. He is
not a man able 10 speculate, but had
been given certain tips by his friends
in the senate, and an unexpected drop
in Northern Pacific stock left him with
out a cent. The fever OF speculation
attacked az classes, from United States
senators to messenger boys. There was
a good deal doing in h bucket-shOps
in Washington as well as in Wall street.
last week.
The senator mentioned is not consid-
erred a speculator by any means He IS
regarded IN the United States Senate.
'as the Holman of that body. 1t viii
be recalled that Representative HoI-
man Of Indiana was looked upon as
the watch dog of the treasury IhtS
senator is a IN of the apDrOpria-'
tions committee of h upper He.
never loses sight of the fact that the.
country and the treasury should be pro
tected either in committee Or in de-
bate.
1t seems, II s~refore. rather odd that this
senator who is so nXiOu to keep down.
government appropriations, lost $4,000.
on one deal in a Washington bucket
shop. Tt is said that, attracted by n
spectacle of rapidly increasing prices,
he had rome into the market, dealing on
margins in the office of a local bucket
shop and had made an excellent deal,
as he considered it, of 500 600. Thistsen-.
ator was Unwise enough to put all mis-
profits Up, principally on western ran
road stocks (Northern Paciflc)-
When. the crash came an eastern SEN
atOr endeavored to margin" the south.
western senator's deal, but as the
mount was so great he was 10
do so. There was somethlns K 49,
GEO involved. The personal loss TO che
senator from IA southwest who, as IS
well known, only draws $4,000 a year.
made. for him, at one time n most
e-Ntravagant deal in his life. Today he
is sorry; so is the eastern senator Who
transaction.
1t is stated in washington, it might
be added, thar In -governrnent depart
ments many pools had formed INTO
which each member put from SO to
500 for investment through local brok-
ers. All of these pools have Been wiped
out. A q woman in the treasury
department who recently inherited 30
600 through a life insurance Pohcy' Put
it an into the stock market. her prohkS
amounted to about $4,000 up TO Tues
day evening. The drop in stocks on
Wednesday and Thursday cleaned out
all her profits and her original $1,000.
James G.. Blaine is a wei known
Speculation in stocks. Within the past
year, it is believed, Mr.. Blaine has
beaten the market for something up
wards Of 100000. Mr.. Blaine is a con-
s~picUOus figure during market hours at
a wei known stock jObbing house on
+ street, Ia this city. When he is not
playing the stock market business, he
is usually found in an automobile wlth
Miss BttchbOrn, to whom he will be
married June II. Mr.. Blaine is referred
TO incidenrallX for the reason that ne
was caught short on Northern Pacific
stock on Wednesday for Si25,000- There
were others who figured i'm the North
ern Pacific deal in washington.
Not long g former senator Fetti-
grew Of south Dakota, who IS now en-
pIoyed as an attorney by James j.
Hill, the railroad magnate, made in
Wall street, 50. II lis believed upwards
of SEQ. 600 in two days Mr. PetugreW.
81 WIlI be recalled, prides himself upon
the fact that he is an antitrust man,
an auti-mOnQpolisJi and, While ia the
senate, frequently declared thac the
people of the country were being robbed
continuslly by Wal street brokers
IN view of the act that Mr.. Pettigrew
ledt The senate without pis own consents,
ne dabbled in stocks suggested by Nfs
Hill. and made a quarter OF a mlll0n
doll&rs within a very brief period. Mr.
Hill, the man who tipped Mr. Petu-
grew. dabbled a little bit himself juat
PREVIOUS 40 HAADllh44l6 NJ AE~I5 ~
that there was N ia investing IN
the NOrtheTH Pacific railr0ad-
Now, as 70 Mr. Hill today, with the
exception of J. Pierpont Morgan, ne mas
made more mOney in speculation than
any other ma in the world. 1T is Well
Known in. the west. & not in the east,
chat he cleaned up $4,000.oO0 within 2
week in Wall street. The Yanderbilts,
the Goulds and Or. DepeW lost TINS
amount. This is History in New york.
and wen known among hnanelers al
over the United States.
j. S. VAN ANTWERP.