davidaulloa/AmericanStories huggingface dataset:
The sun., 1901-05-11
CHICAGO SENT sso.ooo.Ooo HERE.
Brokers I'm That City strengthen Themselves
for Another siump-Gates's Holdings.

CHICAGO, May lO.-Twenty million dol
lars OF Chicago money was sent to wall
Street to-day by Chicago bankers for the
account of Chicago brokers carrying New
York stocks on margins. One and one
half millions of this started East In currency
by the fast express trains last night Inc
remaining siS5oO,OO0 was drawn from the
New York banks this morning on teic-
graphic orders and paid over TO reheve
Chicago brokers who have been called
for heavy margins by their New York
agents. In turn. Chicago investors ana
spectators have been called on for ad-
ditiona margins by their brokers. ana all
yesterday afternoon and last night ana
again this morning the brokers OFFICES
were filed with men paying over large
amounts TO meet losses or TO carry their
stocks to a lower price.
After the wreckage had cleared away
and the hundreds Of "taiers- and small
traders were disposed Of the brokers sought
to protect themselves from continuation
or repetition OF panic. and In pracucally
every local brokerage house to-day N was
ANNOUNCED that, for the most part. Chicago
spectators were prepared for any stump
that might come
Because after extreme conservatism during
the bull market excitement Chicago. bankers
and brokers were in excellent condltion
when the crisis came. and 1t was thlS lact
that enabled local banks to put S2O,WO,OO
into Wall Street to-day Pracucally aIl
of the banks contributed to make up ms
l.. l. 1sa
No loanS were taken on less than 80 per cent.
margins and the bankers insisted mat
Is per cent. of the collateral must be stan
dard dividcnd-paying railway Stocks.
While call money in New York loaned at
90 per cent. Chicago bankers made Their
loans 10 local brokers for tie most part at
8 and per cent. ,.
name to il right now that John W. Gates
wasn't broke yesterday. isn't to-day and
hasn't been in any serious danger, said
Cnl Isonc l. Ellwooi Of Dekalb, former
President of the American Steel and Wire
directory. early this afternoon IN La
Sale street hrOker's oilCe. rs for myself
and Col Lambert here, we have a profit
to-day. We were not in the market on the
wrong side. rs has been reported, but We
did get in il yesterday, and We got IN on
the right side We have a good profit to
our accounts to-day. These stories about
Mr.. Gates going broke and about o,r losses
are all hosh. To my certain knowledge
Nir. Gates had bonds and securities in
the hands of his agents IN New York yes
tcrday that could have been turned into
cash al any minute. Talk about that kind
of a man going broke in one day"
Col John Lambert. former President Of
the American Stcc land Wire Company,
and sti identified with the Morgan steel
interests, was with COT Ellwood at the time
and indorsed what he said.
The sun., 1901-05-11

OF act, while all these firms failed in the
technit al sense Of the term, because they
were sold out under the rule yesterday
morning il is more than likely that most
OF them will resume business as soon as
an adjustment of their affairs can be made.
The liabilities of all the concerns will be
small. Late in the afternoon an attach
ment for 81 1894 was issued against Charles
W.Cannon rs one Of the partners in +. y.
Hilton 4 Co The Judgment was IN favor
of the National Bank of the Republic on
claim that Hilton & Co. had overdrawn
their account. The attachment was served
on n banking house where, II was said,
Hilton 4 Co. had some securities.
The total sales on the Stock Exchange
yesterday amounted TO 1900 shares
The stock which showed the greatest gain
Of the day was Union Pacific common,
closing % points higher last night than u
did on Thursday night ST. Paul gained
~ points over Thursdays closing. Dela-
ware. Lackawanna and Western, i6l.
Delaware and Hudson, 9la; United states
Steel common. A.; United States Steel
preferred. ~; American Sugar, 10: Atcl-
ison. -, Atchison preferred, 6i5, and Bal
timorc and Ohio common IL points over
Thursday. Northern Pacific opened at
$50, reached the highest point Of the day AZ
200, did not drop below $50. and closed
at l5O. showing a loss Of a little over IL
points over the closing Of Thursday night.
To-day Wall Street will take vacation.
The Stock and Consolidated Exchanges
will close and the bankers and brokers
will try 10 straighten out their accounts.
II was announced from the rostrum Of the
Consolidated Exchange just before the
closing yesterday that II would be appre-
Ciated if members would come down to-day
and assist in Strengthening out accounts,
The sun., 1901-05-11
OBITUARY.

Walter II Holt. deputy auditor for the
horousn n, Pichmond died M bis homo q,
por, picbmond Stn,en Island vas,cr,a,.
i, ,,,,n,,,,,,,,io A., ~, ''"S
aNsrhonn ~ E!'vu"'in,ia, Mi hoit was porn
az ll,nL' y, - ny Isc"N " cam" 10 New
1orK City IN ls"V alI iuI 'l!ne was IN the
ehlloS ~ & &tmr HnunnU!h EirN ued EhlI-
road iic Ihfi, prsdii Lhe N,HuN 81 Law;
was hdhl''eu 10 ll' paI ana LOT several
years was r"nne'''u WIN me hrm which
T. now b"Ei'H, Hi2ho anp Anrrb1Ch.
lie moVSI Io Hl1'ch l~'aHq hnnut zen lo1rs
ls92. In lSoo me- was he Democrati" nominee
~, ,, ono nf tbc ,birtoen ,yneri a',, ~, Iie
intod E ,o cxniriUc irto tba
~ city hefore ronsnidoiinn and oi
isos was oppointed deputy uuditnT bv Tn,,'ES,
trIioT ricr widow md w., .nn p,ip-
bin, - "'' ''"' '"' 'Nc
mn H.,,,.... -,
Mm,'1,n fn"C'IIi VITO o,, nf" lnnR h"cn on
The sun., 1901-05-11
VIEW STORY OF TIE CORNER.
st. Paul Launches Another Version Of the North
ern Pacinc Boom.

ST. LOUIS. MINI, May iO-A letter was
received here to-day. giving some inside
history of the struggle for the Northern
Pacific control by the Hartman crowd
on one side, and the Hill-Nlorgan syndicate
on the other. The letter is a confidential one
from one Of the parties to the struggle,
and il appears that the cupidty of North
ern Pacific stockholder in the Hill combine
was responsible for the great contest that
has been waged the past few days
Certain holders Of Northern Pacific
common. in league with Hill. were tempted
by the high price of the stock, says the
information. 10 put IL on the market un-
known 10 the syndicate managers. II
had been acquired by them when the stock
was low. and, while the holders Of this
stock had no Intention Of iniurng the
Hll-Morgan combine, they concluded that
the stock was too high. and could be bought
back at much lower price, and they could
clean up a few thousand by the transaction.
II appears that the Hartman crowd
had anticipated some such action and had
planned to pick up the stray shares of
,
in the market. This stock. which was
pledged 70 the Hill combine. was eagerly
robblcd up by the Hartman interests,
as also were all other small lots offered.
This was two weeks ago.
Finally the rumOr reached tho ears Of
the Hin people. and rs the story was re-
peatcd and grew stronger they began 10
count noses. II was then that they dis
covered that a large block of their own
stock had got into the hands OF Hartman
and his friends through the cupidty of
one Of their own party. and the order went
forth 10 their brokers to buy up the stock
al any price.
This was the beginning Of the frantic
struggle between the two great financial
combines and is probably why j. J. Hill
In an interview yesterday said: There
has been some wicked work, there have
been plots and there have been means
adopted 10 accomplish ends that could find
no Justification in any ethical code"
4 high railroad official says: Il believe
Mr. Hill had firm control Of the Northern
Pacific before this stock market excitement
began say that because Of my know ledge
of Mr. Hills prudence, foresight and ability.
Mr. Hill either now has control or he sold It
voluntarily. You may he very sure he
never lost il unwillnRly II he sold his hold
lnGs he has big lot of money 10 show for it,
In either event. you may be positive that
Mr.. Hill Is a winner"
The sun., 1901-05-11
v. p. CORNER ENJoINED.
Legal Action VIA, Have Put a Stop to Squeezing
Of the Bears.

II became known yesterday that n Stock
Exchange house which transactS the busi-
ness Of ono Of the largest operators in the
Strcct--a man who has recently Joined the
ranks Of tho bulls-waS behind the Injunction
proceedings brought by one Bernard Smith
against Kuhn. Loeb & Co J, 7. Morgan
& Co. Rudolph Keppler, President Of tho
stock Exchange. and the Exchange. to re-
strain them from selling any moro Northern
Pacific stock Tho Injunction was obtained
from Justice Gildcr,lneve on Thursday
afternoon hv representatives OF the firm Of
Hoadi"y. Iputcrb.ch 4 johnson II was Mr.
I.luterbach who discovered tho legal ground
upon which tho mi unction might be- obtained
The heavy Wall Street operator above rc-
fcrred to cnilrd GA Mr Lsutorbarh on Thurs.
day. 80 II was said yesterday afternoon. and
asked him if there was not som" Legal way
by which the corner in Northern Pacific
stock could be dissolved MIR Lautcrbach
replied in substance
There i, an old legal principle that whom
a promI~cc makes an agreement 10 do some
thing Tor or with the rromi~or which some
thing the promi,cor knows il will be impos-
siblc for the promi-cc TO carry out. such
a grpcmnnt f. not binding iu law II appegrs
~ hc quite evident that II h. quito impossible
and ha- boon impo-sihl" for some DAYS. for
many pcr.onS TO get hold of Northern Pacific
stock Kuhn. Loeb n co ana ! 7 Morgan
4 Co know this Therefore. when they
now buy that stock from ANYBODY. thov
know II viii be iuposrlblc for the person 90
deliver II If you know Of somebody who
IN. hecn selling stock 10 either Of thoso houses
which can't 10 delivered. that person might
sue ont m iniunCt!o ion restraining the purchase
Of that stock within certain tim"
Upon that ground Justice Gilderslpove
was aupl ed 70 for an iniunCt ion and granted
II Having obtained tho iniuuCt on the Legal
Representatives Of those who asked for il
reported N" fact 10 representatives, Of TIE
Grn of ] i Morgan & co and Of Kuhn
Loeb & Co Just how much that legal aCt ion
had 10 do with bringing about p settlement
IN the corner will probably meyer b" known
Mr. Iautcrhaoh was asked Just how much
the Injunction had to do with the settlement.
and hr rcplCd,
Il really don't suppos" II had ANYTHING
10 do with il Those gentlemen who had
Cornrrcd tho stock simply concluded to I,t
M on their unfortunate victims ont Of the
goodnc-. Of their own hearts and for tho
cause Of philanthropy Don't think for
moment that any S'lCh little thing as Hu
Injunction would have put a stop 10 such
"A coutrivance "a was that corner IN tho stock
Of the Northern Pacific Rn l-oad"
The sun., 1901-05-11
CLEANED OUT A BUCKErl SHOP.
Man Wanted the Money He Won and Got II with
a shotgun.

PIrTsBUna, Pa, May I0-William Brad
burn. former champion heavyweight pugilist
OF Illinois and brother of the wealthy james
Bradburn of Chicago. once chief cattle
buyer for Armour 4 Co. created q stampede
to-day In Pttsburg bucket shop with a
loaded shotgun. lie had been dealing In
July corn in the East End branch Of A. B
Baxter 4 Co. bucket shop men, and yestcr-
day he closed out his trades and found him
self $500 10 the good Brndburn asked for
his money and wns told that he would have
10 get It at tho main offico downtown. He
called thore in the afternoon and was In
formed. he says. that tho firm did not
consider itself responsible for the East End
houses debts
I'm give you till tomorrow 10 settle.
said Bradburn.
This morning Brndburn called again and
approached tho desk. but was waved nsde
and told not to begin the subject again lie
walked away, bought n $50 shotgun, put In
two shells loaded with buckshot and went
back To BaNter's The room was crowded
and there was a general stampede Of Gus
toners Left alone with Baxter and his
partner. Bradburn pointed his gun and gave
them ton minutes TO count out $500 The
money was counted down and Bradburn
pocketed It just IA patrol wagon load Of
policemen brought by riot call, arrived
Bradburn gave himself up and deposited
$40 as forfeit for his appearance Tomorrow
at hearing for disorderly conduct Bax-
ter says he will not prosecute the man.
The sun., 1901-05-11
PHILADEIPHIA OVER THE SCARE.
NoFaIlures a. the Result OF the New York Panic
Losers Names Kept Secret.

PHTLApELpHrA. May lo.-Opcrators on
the Stock Exchange to-day realized that
they had been more frightened than hurt
and confidence was restored early when
reports of failures were found to be untrue
sellers Of yesterday became buyers, on
dcavoring 10 get back their own before
possible jump Of prices, The buying
wa, not only heavy, but general Every
stock was purchased Heavy dealings
were recorded in Reading, $4,000 Of the
common being dealt in in the first fifteen
minutes. The stock. which closed M 1873
ye-terlay, opened at ~. going quickly 10
igi First preferred opened at 3Gl2. point
higher than the close, and 200 shares
changed hands in a few minutes,
During the day there was only one sale Of
Northern Pacific recorded. Local stocks
opened strong and varied little all day
Brokers admitted that many customers
hai lost. and lost heavily, but no failures
were recorded. and the names Of sufferers
were kept quiet.
4 despatch from Reading stated that
Daniel Shcpp, one Of the firm Of the Globe
Bible Publishing House. had made .4OO, 900
by selling Northern Pacific. but Mr., Shepp
refused TO affirm or deny the story.
The sun., 1901-05-11
PREACHERS INVESTORS EOSE MONEY.
Clergyman Says lie Lost All In Speculation
Had Received 100000.

WArKrGAN H., May 10 Tho Rev, S. A.
Harris, who was pastor Of the Milburn Con-
grrgntionnl Church for some years up to
December last, when he was suspended for
six months, has not resumed his duties at that
church. Some tmc ago. It Is said. Harris
promoted an organization known "a tho
Harris Proviicnt Savings Fund Company
and hiS representations concerning interest
e. ba realized bv people investing money for
him 10 sprCulHt" with were 30 ro-eatc that he
received ~ Hll over 500 OnO from farmer and
toWu~p"ople. IL l. sad that to some Of
these dcpoSitprs Harris gave HS security
promissory notes, and 20 others bonds on the
town Of Gilman. which are said 10 be- pructi-
Cully worthless His church took tho matter
up whom complaints began to come IN about
his failure ~ max" HCCpunting and after
trial h" was suspended for six months, going
20 Dwight, H.
llarrl~'~ suspension wus over on Aprll 25
and he returned and addressed meeting ~
villagers and church people asserting that
hc had been unfortunate la his speCulntipna
and had taken money with the understanding
TINT n n was lost tn" Investors were not 10
hold hun responsible The sums that name
into his hands ARE said 10 have ranged from
70 cents 20 $1,000 Some of the depo.Itors
say that before going to NIilhurn Harris was
a lawyer and spcculator in Chicago.
The sun., 1901-05-11
the morning had s40O. 900 and in the early
afternoon was without "a penny. One son
a nj

the morning had sl0O. 200 and in the early
afternoon was without penny. Ono son
and one grandson survive.
Mrs Mary T. Thompson died at the homo
Of her daughter, Mrs Thomas Eagles at ll3
ROsevillc avenue. Newark, yesterday morn
oi twenty whltc-Clld girls who welcomed
Lafayette upon his second visit TO America,
In the old war-~Carred town Of Sprin gfed
\, \ which he revisited on his way 10 Nor
ristown Her husband, who was an IRON
founder died thirty years ago Two daugh-
ter- survive her
Corncia Sc0val wife Of James Matack
Scovel of Philadelphia was buried Yesterday
In that city. She was n friend OF Frances +.
Willard and a leader in the W G I. L. cause
Twenty-Five year ugo she married Congress-
man NOOrhN1d ~ Pittshurg, who was as4o-
ciatcd with Jay Cooke in building the Northern
Pacific Railroad and i'm developing the North
west He settled s2io,OOO on her few
years after his death she married Col Scovel
BENJAMIN J. Brown. the wcl-known hat
manufactures, who retired from business
Of cancer a. his home, 1855 Halsey street
BTpoklyn, In his sixty-nfth year He was
CouncCfcd in succession with the hat firms of
! ID Birl 4 Go and DiCkerson 4 Brown 10
leaves "A widow, two sons and two daughters
Capt W II Smith OF Halifax. y. &, tho
orllcer Of the Canadian Government who
conducted the inquiry into the loss Of the
French steamer La Bourgogne. died yester-
day while seated at breakfast For several
Partisan and before that he was an ofIlcer
In the Royal Navy
Ex-Judge John II noalt died near Clover
dale. Cal. on Thursday, aged % He as
nntiVe oI Ohio. but lived for some time
IN New York. before going 10 California.
The sun., 1901-05-11
LONDON PRICES AND COMMENT.
More Conn dencc Therc-Boom Justified TIL
wild Advances Began.

Special Gable Despatch 10 THE SUN.
LONDON. May lO.--The market for Ameri-
cans on the Stock Exchange opened more
confident this morning and prices we're above
parity all round II is believed here that the
difficulties hnvs been surmounted and that
therewill be less trouble than at first expected,
The market trading was on freer scale
this morning.
The newspapers here, not fully under
standing the position in Wall Street did not
generally comment yesterday on the slump.
In their review Of the situation to-day they
admit that tho growing prosperity and de-
velopment In the United States justified the
boom until the advances became wild. They
believe that the panic will not be an unmixe ed
evil 1t will tend 70 check repetition.
Tho Telegraph says: We cannot shut our
eyes to the blow given 10 the confidence of
investors in the durability Of railway con-
solidntions in the United States. and despite
the undoubted growing prosperity OF the
country the prudent will prefer to wait and
see how public opinion there regards the
latest action OF tho magnotes before EN-
barking their resources in more speculative
securities"
The sun., 1901-05-11
BOSTON'S MARKET ACTIVE.
The Local Market Has Been Concerned Chiefly
In Copper and the slump Didn't Hurt II.

BosroS, May 10 Boston had an active
market to-day. The buying showed con-
fdence. stocks had good support and
there was enough public or commission
buying 10 show that however badly numer-
ous customers may have been hurt In the
New York slump the home market special
ties are in good shape. Rallies were brisk
in most Of the coppers, and buying Of steel
Amalgamatcd and AtChison was active.
The fact that the local market did not
suffer as severely in Thursdays reaction
as did the leading New York specialties
was matter to-day of general comment
and couEratulatiOn on State street.
II Indicated clearly that the local traders
have really been more conservative than
thcv have had credit for Local interest
in the copper shares than In any other
group Of securities These stocks. al
though they have scored an excellent ad-
vance. have not 10y any means been lifted
i'm the phenomenal manner that the bulk
of the New York railroad speCialtlcS have
been raised The result has been that
when the storm came Boston traders were
well able 10 withstand II. losses here
have been, therefore, relatively small
The copper shares situation il in Pc
culiary excellent condition, and with the
prospect good for an early Consummatlon
Of the consolidation plans now on hand
il Is bound more than ever, In the opinion
Of those we'll informed, to attract the at
tcntiOn of strong investors and speCu-
IatDrS
The sun., 1901-05-11
GRAIN MARKET JS WEAK.
Operators sold to Cover Themselves in Stock
transactions Phillips Keeps Corn Up.

CHICAGO. May Weakness ruled in
all tho grain pits to-day as the result of gen
cra selling Of long" property by local spec
ulator, These men In some cases being
Cramped for margins on their stock dcals.
found II necc ssary to llludatr their holdings
Of grain The fear of further excitement
in Wall street prompted others 70 sell who
we're not directly Interested in stocks. Cudahy
was said to he a heavy seller Of wheat corn
and oats
july corn suffered moro than anything els"
on the floor. the price ~ one tmc showing
decline of cent under general selling by
commission houses Phillips supported the
market on the break and succeeded IN bring
ing about a partial recovery later n IN"
session Tho trade IN May corn Wa without
incident July corn ranged from i5. cents
at the opening of TO a., toi4'. cents, closing
at a., to ~ cents May closed weak at 5ls.
cents Wheat recovered from itS decline
the July closing at ~. TO ~. cents.
The sun., 1901-05-11
BiLTINORE ByCKET SHOPS OPEN.
Calm succeeds the wall Street storm--North.
ern PaCinc out Of the Market.

" EBALTIMoRE, May 10. In local fnancia
circles the calm following yesterdays
storm in Now York was in evidence to-
day. \ number Of Baltimore spectators
who had nerve enough TO 20 into the ex-
cited New York market yesterday when
prices s,umpod were figuring on their
winnings on account Of to-day's general
advance in prices. AZ the offices handling
New York stocks margins were required
TODAY ranging from ~ 10 30 per cent,
Northern Pacific however, was generally
excepted. and no orders were taken on
thl, stock Ia" bucket shops, which stopped
business c1'lrriy Yesterday when the battle
royal Wl- on in Wall Street, resumed opera
tiOuS to-day. The Baltimore stock market
wa, without any marked feature to-day
except the lrmn"SS In ScahOard Air Line
Halfway securities. These issues owing
10 their wide distribution are more likely
10 reflect New York excitement than any
other on the local market. The common
stock, which closed at - yesterday, sold
upto %, to-day with only ,ntall offerings.
II j. the impression In financial circles
that the floating supply Of this stock is
linutpl
The sun., 1901-05-11
ONE FAILURE ~ BosToy.
Northern Pscinc Squeeze sent Morris A. Peters
u Rrokrr, to the wall.

BosToN, May iOThc only failure so Tar
reported " the result Of the corner in North
western Pacific yesterday is that of Morris
A. Peters, member of the Boston STOCK
Exchange. Mr. Peters has offices al 40
State street and this afternoon M O'Clock
he made an assignment to Lionel Norman
an attorney. Mr. Peters was out OF town
this afternoon and for that reason could
not be seen Mr. Norman did not yen
what the liabilities would amount 10, bul
ne had this to say:
The assignment il made largely 10 pro.
tect the customers in the Office. One OF
the men trading through this Office was
short large amount OF Northern Y enc
and he refused to put up additional margins
practically repudiating the TRANSACTION,
The house was compelled to buy IN the
amount of the stock at $3.50 share yesler-
day in order to make the delivery, Inc
action in assigning was against threatened
The sun., 1901-05-11
No LOSSES IN san FRANCISCO.
Spec uiators Had Taken the lip 10 Get on'
Failed 10 Get In Again at the Bottom.

SAN Francisco, Cal, May l0-San FRAN
cisco operators lost very little by the Wall
Street panic yesterday but they failed
also, 10 clean up handsome profits, because
laey could not buy when the drop came ,9ane
banked up here, but before they could
reach New York by wire stocks had re-
covered and scared away above the limit
they had put A few got in Yesterday ana
made handsome profits, but the total was
not large
There were no losses. as all local specu-
ators had closed out their holdings FOR
several days warnings have come from
New York Of impending panic and brokers
refused 20 carry customers. thus saving
them from heavy losses,
1t is estimated that l25 local spectators
cleaned up S., OO0, 600 by recent advances In
New York.
The sun., 1901-05-11
STUDIO BJILDIyG PLANNED.
To Tie Erected at siSty-seventh Street and
Central Park West.

A new studio building 10 cost approximately
$3.50 900. Is to be erected at Sixty-seventh
street and Central Park West Land for the
purpose has already been purchased and Stgr
gi- Smonson. the architects, are completing q
plans for the building. Afeatureoftheb build
ing viii be n two-story living apartment az
the rear If each studio. This is 10 be accom-
pli~hed by means Of a mel2anine floor mid
way between moor and ceiling Of the studio
room. Level with tho studio floor will be a
kitchen. dining room and library. The bed
rooms will be on the mcl2auine NOOr. Back
Of the studio quarters will be two and three
room bachelor suites.
Henry W Ranger, Louis Paul Dessar.
Robert V. V. Sewell. Childe Nissan. jules
Turcas and other artists are backing the
enterprise.