The sun., 1901-05-09
LITTLE LOSERS MOURNING.
HARD-LtCk STORIES FROM WALL
/ STREET BROKERS OFFICES.
Things Went the wrong Way Yesterday for
the Women Who speculate --Norng John
u. Manning Calls the Turn BROKERS Clerk
Schmidt Pays Record Price for a seat.


Schmidt Pays Record Price for seat.
The burden of the layman's tale of yester-
days happenings in Wall street was, It
might have been There we're moro persons.
male and female in the Wall Street district
yesterday who would have made million or
80 " they had only known than one could
shake q stick at
The whole trouble was that James J Hill
and II Hartman and Jacob II Schiir and
the other mI4nJtr~ who were said To have
been battling for the control of Northern
Pacific didn't take the dear public into their
confidence or course 1t wa, a great mistake
and one which they will probably avoid in the
ihture One Of the traders in a lower Broad
way ofice in speaking of his experiences
during the day, said
i read the papers this morning and saw
how Jim Hill had been waoped by the Harri-
man odtlt and ! concluded that after the
walloplns had been administered the wal
lopers would leave the stock alone II took
me some little time to be assured that Hill
really had been wallopcd ! knew Jim wears
ago when he vas running ferry line out
West He got the best of everybody around
tho,r dlEglncs and finally folks sa d he was
worth sl,0OO,oOO II took some sense TO get
s;bLot'''u) ~ IA those days. and didn't believe
could hump Jim Hi But all the papers
sald thls morning that Hll had been thumped
ana j concluded i must be so So ! came
uowntown with the idea In my head that I'd
| get foxy and sell two or three hundred shares
| OF Northern Pacific. which didn't have. and
nc onS II 9ack on the tumble Egt the darncd
sum didn't tumble The first knew IL was
| quoted as having been sold at $50
,l made up my mind mat IL would go to
b0noi bfOO pei9r" ! could wink Therefore, |
| IA ln
| came over the ticker and showed that II had
tumbled down more than dozen points
| when quotations seesaw in that way |
made up my mind to go over and ask Jim
whaI i, ne was dong ! dld so. but, Lord!
aat lniEht as, as well 9oyr ,, sta{od Nherc | Tas
| who was dressed better than Jim over dared
dress in his Me He said MIR Hin was in.
| Out was very busy
| -. -" That's. all right young man, 7 said
I've heard that lingo before I'm an old
| friend Of Mr. Hill's. and want to see him"
You might ust a. vel have argued With
| ticker az 10 have argued with that fellow
| He not only would not take any message
| 10 Hill. but he wouldn't get away from in
front Of me as long rs ! stayed IN tho once
] saw II was no use so came back and ind
now that I'm 81 $50 worse of this afternoon
| than was this morning
II person was looking for hard-nck -tor-
kind in. any ofice IN wall street that he
chanced to drop into The mcn were bad
enough. but IN the Offices whore the women
speculate, there was the real thing IN tho
way of wecplng and waing and gnashiug
of teeth Tn SrS man dropped into three
Of these Offices during the afternoon, and,
from what he overheard, the conclusion
was drawn that there wasn't a woman IN
any OF the shops that wasn't either first
cousin or lifelong friend of some of the
magnates who have held the centre of thoWall
street stage for the past few DAYS II was
quite evident that tho ladies had been mis-
led as to the ,prP2babl" course Of prices
saw Mr. ltll taking dinner at the Neither
land last night | used to know his wife
very well, said one OF the women in an oHce
IN IN iSSsr SS.t nsf BT9SdTsy N pTeacns her story
friends 4 had good mind 10 ask him
bow Northern Pacific would 90 to-day, but
S@ %oaS LEAKED RS Gap2s os sna in 'hoSsht .
| know. because | know hls wife but /
didn't say anything 70 him about It, and the
result Of It IS that I've lost $50. might Just
| Only had my wits about me .
Well, said young woman with a wealth of
bar tho, Tas gCiGaen yeserdSy afternoon.
this game, can get better Information
about the horses than can about stocks,
and I'm going TO quit Wall Street and go to
Morris Park meeting. and you u not see me
below Twsnty-third street again this sum
mer"
one pleasing story told downtown was
that Of the experience OF young John B
Manning Young Mr.. Manning succeeded
= kYChRDQN a
few years ago. and every now and then he
has let Wall Street know that he was doing
business Yesterday was one OF those occa-
,!ons Mr. Manning, tho moment he saw
that that was q particular good time TO sell
short Accordingly hc sold 200 shares at
the memorandum Of the sale on his pad the
stock dropped 10 $50 and he quickly covered
his shorts The whole transaction. took a
little less than seven minutes and In that
Nj a
took his proft so far as IA known that was
the quickest small fortune made In Wall
street since the time Of fortune making be-
gan about two wo"itS ago
Another person who had reason 70 feel
satisfied with tho way things were going
was q young man named George Palmer
Schmidt. Young Mr. Schmidt Is lust a little
past 81 Until a few months ago he was a
clerk In the employ Of the Stock Exchange
house Of Harris Fuller Tradition says
that he was, like many young men in Wall
Street. the son of poor but honest parents.
but he that as II may, he made NJ his mind
that h- could max" more money outside Of
Accordingly, hr threw up hi4 Job and began
trading on the curb Mr. Schmidt wont
tell how much hn made, but the story yrs'cr-
day was that he hai cleared M over 500 900
In about two months However that may
he he was able yesterday 10 pAv $50 OO0 for a
seat in the stock Exchange. plus SLIGO for
Initiation fee and commission II va, only
seven wears Mr. Schmilts senior, paid $40 900
for n seat on the Exchange When Mr.
schmidt was asked what he was going 70 do
now that he Is a member OF the Exchange
ho announced that he had formed oonsr srfner-
ship with Frederick Gal'iu. Jr under the
firm name Of Schmidt & Gsatin and that
tho firm would transact ID general stock
brokerage business az - Broad street
In spite Of the calamity howlars n seemed
70 bo particularly good day for Young men
ia the street Yesterday II was announced
That the Board Of Directors Of the New York
Realty Company had been chosen and That
Young Cornelius Vanderbilt would sit as a
member among the grsvbeards IN the board
senator Depcw was asked how Mr. Wander
hin happened 70 be chosen ns director in
this particular company and the reported
answer 10 the question was
Director In real rstat- company Oh,
fudge Real estate IS TOO tams thrs. davs
7 don't know anything about real estate
sf keeps me busy irving 10 keep track Of the
Itock pyrolechnics
Coler Having Gilman Personality Appraised,
Surrogate Fitzgerald Yesterday appointed
William Halpn 10 appraise the estate NJ