Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1901-05-22
AlistetIaneuus geading.
NORTHERN PACIFIC STOCK.
Some Distinguished Men Who Were
Caught In the Recent Crash.

Caught In the Recent Crash.
The Washington correspondent of
the Richmond Times gives an interest
ing story about the losses caused by
speculation in the stock Of the North
ern Pacific railroad, which swept away
millions of money in a few hours. He
writes as follows:
Wall street Caught" a few distin-
guished gentlemen last week. A
Southwestern senator, 1t 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 to speculate, but has 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 all classes, from United States
was good deal going on in the buck
bishops in Washington, as we'll as In
Wall street, last week.
The Western senator mentioned Is
not considered a speculator by any
means. He is regarded in the United
States senate as a Holman" Of that
body. It will be recalled that Repre-
sentative Holman, of Indiana, was
looked upon as the watchdog OF the
treasury. This Western senator Is a
member Of the appropriations commit
tee Of the upper house. He never loses
sight Of the fact that the country and
the treasury should be protected either
in committee or in debate.
It seems, therefore, rather odd that
this senator, who is so anxious to keep
down government appropriations, lost
SIS, 900 on one deal in Washington
bucketshop. It is said that, attracted
by the spectacle of rapidly increasing
prices, he had gone into the market,
dealing on margins in the office of
Washington bucketshop, and had made
an excellent deal, as he considered 1t,
Of 100000. This senator was unWise
enough to put all his profits up, prin-
cipally on Western railroad stocks
(Northern Pacific.
When the crash came, an Eastern
senator endeavored to margin" the
Southwestern senator's deal, but as the
amount was so great he was unable to
do so. There was something like $780,
600 involved. The personal loss to the
senator from the Southwest, who, as is
we'll known, only draws $4,000 a year.
made for him at one time the most ex-
travagant deal in his life. Today he
is sorry; so is the Eastern senator, who
endeavored to carry his bucket-shop
transa ction. 1t is stated in Washing
ton, it might be added, that in govern
ment departments many pools had
formed, into which each member put
from s25 to $10O for investment through
local brokers. All Of these pools have
been wiped out. A young woman In
the treasury department, who recently
inherited $4,000 through a life insur-
ance policy, put it all into the stock
market. Her profits amounted to
about $4,000 up to Tuesday evening.
The drop in the stock on Wednesday
and Thursday cleaned out all her prof
it's and her original $4,000.
James G. Blaine is a we!l-known
speculator in stocks. Within the past
year. it is believed, Mr.. Blaine has
beaten the market for something like
$3.50, ,OOO Mr.. Blaine is a conspicuous
figure during market hours at we'll
in this city. When he is not playing
the stock market business he Is usually
found in an automobile with Miss
Hitchborn, to whom he will be mar
ried June 18th. Mr.. Blaine is referred
to incidentally for the reason that he
was Caught short" on Northern Pa
cific stock on Wednesday for $125,O0O.
There were others who figured in the
Northern Pacific deal in Washington.
One of the men said to have been spec
ulating on Northern Pacific stock was
no less person than William McKin-
lev, president of the United States.
His agent is also a distinguished poll
tician and statesman. Marcus A. Han
ma, of Cleveland, Ohio, United States
senator, and the maker of presidents,
was the man who handled President
McKiney's money in this stock deal,
and not only lost it, but, it is believed,