The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-10-19
N WALL STREET.
lave Used Money Stringency
10 Shake Out Pools.
THEY MANIPULATE BONDS
jale 10 Secretary Shaw at Discount is
Z Reeouped Many Times by conse-
duent Advances in Stocks.
lsnccInl 10 The postl

4 Quent ADVANCES IN OtOSNS.
6 special to The Post)
New York, October 1S.-A hnnnder identi-
ned with the First National bank party
made the significant statement today that
the BID banking interests have not dropped
their stocks, as commonly supposed but
that thoy have been taking advantage Of
the taght money situation to shake out the
pools and speculative element preparatory
70 another upward movement. This man
Inns been president OF a prominent railroad
apd Is In close touch with the leaders in
the wall street district.
you viii nnd a little later" he said,
ssthat there will be plenty OF money for
stock market operations aud with the strike 1
out OF the way, as l expect before long, the
way wan be clear TO put the grangers and
other Issues higher. All Of my informa-
lion leads me TO believe that the wave OF /
prosperity in this country will 80 on widen
ing II is a good thing to put check on
the pools and allow Investors TO come IN
and buy stocks when money becomes more
plentiful / understand that Secretary !
shaw stands ready to release more treasury !
funds by bond purchases. That Is GOOD
thing In Itself, but we do not really need
A. Mr. Morgan and his associates have
perfect control Of the money market ana
they viii see that II does not run away
with them There Is no fear OF the syndl-
cate operations exertlng serious enect
on the money situation. Consider for one
minute that the great block Of money called
in today--for instance. the SlftloVVVp Lohs.
Willie md Nashville purchase money paid IN
nv the. syndicate last week ana a IKE
amount this week-hnds It's way back into
the channels of trade the same uhy
II is paid In Therefore, the run,
ming up OF interest rates 10 10 or ~
per cent means nothing IL Is only q little
scare 20 make the brokers careIuL uhe
brokers needed some excuse for compelling
their customers 70 llquidute part Of their
stocks and the refusal OF the banks 10
lend them any more money on Time ior u
few weeks was excellent reason. After
all Of the hnrdships are over the coal strike
viii have proven a benefit to corporations,
OF the kind for some time to come
GATES POOL DTsBANDBD.
II Is stated on the highest authority that
the Gates pool in Colorado Fuel and Iron
disbanded yesterday and that the fight
against James c. Osgood to secure control
OF the company. which turned out so dis
astrously 70 Gates, Mitchell and Blair at
the annual meeting has been abandoned.
The few remaining shares which had not
been liqudated by the managers were dis
tributed among the members Of the pool
OF course, pretense Will still be made OF
continuing the court proceedings for the
sake OF appearance. hut the members OF
the pool have had all they want OF THIS
sort OF warfare IN which their opponent
holds the nine points OF the law nnd
mysterious influence ia the state where
the struggle IS going on.
a similar situation Is that ot the standard
on people ugainst I. Augustu8 Heinzc 10
F.r al nj la ..lt-
untion. HeluZe has been able TO hold the
fort WITH ease aud ali OF the wlles Of the
Roekefellers have NOT sufhced to mike
him bulge. A Wall street authority not
connected with OsgOOd who has been witch
Ing the Colorado Fuel light closely said
$50 far as ] am informed the Gates
people did not own anything Ike o major
lty OF the stock, but they had collected a
lot Of proxies. Through fear that some
other device might be couiuTcd MP by OS.
good 20 keep them out they concluded that
the cheapest way was to retreat and not
Sink any more millions In the controversy.
OsgOOd win probably carry the adjourned
election without any trouble unless the
United States Steel interests have Slipped
IN and bought up the boating supply, as
some alegc. ! hear that The Gntrs pool
took n considerable loss ON RS Colorado
Fuel stock. hut not so much as commonly
supposed"
That part Of the $35.OOOoO0 OF money
paid FOR the Gates holdings " Louisville
mud Nashville stock by MIR Morgan Was
largely used to pay on The current lonn,
rylng and which at one time ran up above
s5ooOn000. A part OF the loans raised
nhroad had been llduldatcd already because
" the urgency Of Englishmen 20 get bach
their money. They became disturbed 0Vel
the money situation IN this country, view
Ing with aiurm the rise Of call funds I,
20 and 30 per cent. Gates, II Is said, toll,
them noachnlantly that they could hay,
their money back any moment and he mad
good hif word Inc profits Of the Gate
much more than onsettiug the losses whCl
ARE alleged 10 have been suffered IN othe
stocks during the recent money puch Tn
melon divided after the payment Of III
Loulsvilie purchase money is nileged Z
have been over Ss,00o,o0o. The Gates peopl
began buying Louisville around l05 aud -ha
quietly accumulated large amount bcfor
the price touched 10 When eompetltiv
buying set In they had TO pay hlrh price
Tor some OF their purchases. upward OF 13
being given. Much OF this money has bee
loaned out In Wall street since Mr. Morga
distributed It. The Gates pool sull Ia
some OF the time money which WINS hoi
rowed from Chicago and other out-of.tow
institutions at low rates ana which Il ha
been abe 70 PVT out on time AT goo
whereas they have had Il out continuousl
turlng the present month at per cent
higher. Their profits from Interest rntC
lge alleged TO have been upward OF SiS0
LEAD CONSOLIDATION FAILS.
The scheme Of the Ryan. Whitney synd
bAtN W t"A49eAhAtN Tue MISSOURI lead N
ierests TO get control Of the National Lea
company and effect a union with the Anne
lean Smelling and Refining company hi
struck snag and It Is thought Il may
indefinitely postponed One reason for Il
hitch was the state Of the money marke
but other objections came up, Some fau
was found, II Is said, with the yaluati,
put upon the Ryan.whitney properties
was alleged It IS said that the unaevel6p,
oEt's were greatly overrated ana that n
merger scheme was devised largely wi
view 20 realizing on them. Repor
are current here about prominent tru
eolnnany having made loans on cerfnin lnl