The sun., 1901-05-05
WONIN WALLSTREET GAME.
TALES THAT ARE TOLD OF NEw-HADE
MILLIONAIRES.
one Man Drops In Casually to Say Mach
Obliged" TO j. r. Morsan-A $4,000 win
ming In 70 Minutes on u. P.-Jefferson NJ.
Lsvy Said to Have Picked Up "a 900 900.

Levy Said to Have Picked Up 81. 900, 900.
When the bankers and brokers were
ready to go home yesterday for their day
and q halls holiday the general feeling
seemed to be that II was u mighty good
thing for everybody that check had come
to tho speculation. One Of the bank Presi-
dents was quoted as saying that the level
OF prices the past week had been altogether
too high and not such as TO warrant con-
servative loans on the securities traded in.
This man said that there would probably
be no combination on the part Of tho banks
to restrict loans, but there would continue
to be a very decided discrimination on tho
part OF bankers between intrinsic and in
fated values. He said that the situation
and enable them to do trading TO much
larger extent than they could afford. He
said that the banks would undertake TO
bring the weak traders to their senses by
a sitter money rate and greater scrutiny
as to securities offered for collateral. An
other banker made the following interest
ing statement regarding the unprecedented
rise In the stocks Of banks and trust COM
panies lie said:
only the other day three or four blocks
OF stock of a very large financial institution
IN this town were refused as collateral all
around the Street. | would not take them.
and, what is much moro 10 the point. the
Presidents Of the very banks whose stock
was offered refused 10 lend on them. Tho
reason was very simple. The prices Mt
which the stocks werc quoted were alto
gether too high and out of all proportion
TO their actual worth"
With the close Of the greatest week Of
stock speculation ever known in the history
of tho world, great many persons are
balancing accounts. taking invent Orcs
and trying to determine just how much
they have won and how much they have
lost In the time Of a bull market, and
especially in the time Of n market such as
has prevailed the past week. II Is natural
TO expect the widest reports as to the for
tunes which people have made. The past
few days the papers have been filed with
the winnings of everybody, from the cook 4
scullion to the trust magnate. II is true
that fortunes. large and small. have been
made, and II Is equally true that most OF
the stories regarding the fortunes have
been exaggerated
The inclination on the part Of the public
seems TO be 10 regard this fortune making
as having been compasSed in about six
days. As matter Of fact, the period of
making has covered. generally speaking,
about five years, and more particularly
n1nnfhS
which have accumulated by speculation
and the wealth that has been hrilt up In
tIado must trace their aCtuai pu,ut. Of be-
ginning to tho first election Of Mckinley.
Men who were little known outside their
own communities before tho election "
Mckinley have an international reputa-
ton as millionaire consolidatorS and com
Diners For instance, few persons outside
the confines of Chicago had ever heard Of
John ". Gates or the Moore brothers half
a dozen or SO years ago. Gates to-day IL
known on both sides Of the Atlantic as a
gambler in anything in which he believes
he can get a fair run for his money.
Poker or baCCarat or the horses are quito
as popular with him as steel or any other
stocks Nobody knows how much Gates
is worth, except himself. and it is doubtful
II he knows. Estimates aS 20 how much
he has raked OF in the past six months
would be largely gucsswOrk, but some OF
his friends can make fairly good CIesSes
II is known that he lost, and ii is presumed
that all the old American Steel and Wire
crowd lost with him. big bunch Of money
on the ABSORPTION by the United States
Steel Corporation of The properties Of the
American Steel and Wire c ompauy
When terms that were supposed to be
final for the taking over Of the smaller
by the larger company had been made
Gates and his friends knew that they could
make a lot Of money by huying American