The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1901-05-01
SPECULATIONS
In STOCKS

New York, April 19.-The wild
speculation in stocks in Wall street
exceeded all previous records today.
The sales on the Stock exchange
were 3,3lI, 100 shares, over 700, 900 in
exces. of the total of Monday. which
itself was a record day. The public
is plunging with recklessness which
absolutely appals the brokers of Wall
street.
Never in the memory of the Oldest
member of the Exchange has there
been such mania for speculation.
Several weeks ago conservative
bankers and brokers began to warn
their clients that the danger point
had been reached and that purchases
of stocks at prices which had prevail
cd was extremely hazardous but
stocks have advanced from 10 to 25
points since then. Great fortunes
have been piled pin that time. In
toxicatcd with success the spec cua.
ting public now dlsregards all warm
ings.
Millions upon millions Of dollars
are coming from the interior to be
placed in stock market transactions.
1t is wild gamble the end of which
no man can perceive. All rules of
speculation and all systems have
proved false. The rule to buy for q
rise alone has been succesSfu full.
The great bear leader, James r.
;e T,f thn nntbu-
sias tic bulls in the market, and it is
estimated that he has cleared no less
than $4,000, 900 in the past few
weeks. lie has been the active agent
in the market Of the great Morgan
| Rockefeller combine. Today his SON.
in-law, Talbot J. Taylor, was the
heaviest purchase er of stocks. His
firm took 100, 900 shares of United
States Steel alone. The Morgan
brokers bought steel stocks on every
break.
United States Steel common ad-
vanced to So, under heavy buying.
Then the great Chicago pool threw
10000 shares upon the market and
the price broke to Ssh 1t closed at
53s on a resumption of the buying.
London was one of the heaviest pur-
chases of this stock.
John w. Gates issaid to have made
4 very large sum OF money today, He
is thought to have marketed $4,000
shares of Steel common at ian average
of "a. This yielded a ten-poirt
profit which made him $500, 900.
Members OF the Waldorf crowd de-
clare that Mr.. Gates has made
1900, 900 since January !.
Union Pacific again sold up to 120
on enormous dealings, amounting TO
2l5,O shares. The Vanderbilt
brokers were heavy buyers of the
stock and Burlington interests also
took great quantity of it. The re-
port was again current that W, X.
Vanderbilt has secured a controlling
interest in the open market and that
he was in position to force Union
Pacific to accept the terms proposed
by Chicago and Northwestern.
A wee'- ago the Union Pacific
Board declined an offer of the Wander
biltS to take over the Union Pacific
property Hon guarantee of per cent
on the common stock. 1t is now
said that negotiations have been re.
opened and one report had it that
the deal had been closed.
International Power was another
stock which was bought by the Nor
gan and Keenc brokers. 1t is said to
be the company under whose charter
j. p. Morgan & Co. will form the
great locomotive works combination.
The stock jumped up from 79s to
50 today,
There are number of big pools in
the market working quietly. They
are picking up stocks every day on
reactions and marketing them on raj
lies. So great is this trading that
the bookkeepcrs in the brokers' OIL
ccs find it almost impossible TO keep
up with their " ork
THOUSANDS SENT INTO EXILE.