The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-04
GOSSIP OF WALL STREET.


The violent decline OF cotton yesterday
| greatly distressed great many traders
! who ordinarily confne their spaculations
| TO the stock market but who lately began
20 bull cotton on faith OF the bullish infor-
| nation that has been flooding Wall Street
for several weeks past The stock market
contingent in cotton was bullish to a man.
II went home Tuesday night feeling very
| confident. The bull party pretended to have
had advance information OF the Govern
ment's crop report. This information was
~inrularly precise and positive. The Gov
| ornment's experts would estim1te the crop
At as2O.OOO bales. Stock tr1dnr- long OF
cotton were dismayed therefore. when on
reaching Wall Street yesterday morning they
found that the "Washln gton Information
had been revised over night The Govern
m"nt'S report would estimate the crop at
about TO- 100000 bales II turned ont that
this revised forecast by soma accident was
very near to the truth, coming. indeed. within
less than 100 OJO bushels of the Governments
figures Theodore Price has been radical
bull on cotton. and az n recent stage OF his
campaign he picked up "a large following from
among his old stock market Acquaintance,
After breaking - points cotton rallied sharply.
Theodore Price and brokers associated with
him were said to be heavy sellers on the
break. The stock market contingent got
badly whipsawed" and feels very much
put out
Spread privileges on METROPOLITAN. put
at 1876 and call az $50. running 80 days. sold
ir New street Yesterday for ~ per cent.
Puts on Manhattan nj $50 running % days
sold for . nor cent Calls on Reading common
nj 90 running -ix and eight weeks are offered
for per cent Their" l. said to be "A fairly
good demand for "pipors," but those who
write them ask almost rrohtbitiv" prices
and no hu.ine-. can be- doing The New street
privilege market indeed has fallen upon very
hard time,
In foreign "N'hanE' 'lf'."H v'''"rlhy W"
i"H'ure OF secretary Nhh" report i'No''hk
credit currency wa n"'h discussed 'hh
principally from the ior'lfh point OF We"
II appeared 10 b" IN" general notion 'hf'
foreign han'Inc Interests we're nk.F 10
e,nres.nd TOO Lost an urravorab'c impress
sion of AR Shnv's views abroad should make
T. moro diN1c,'t 70 renew expiring accept
orcc. IN london and or the Continent. The
discussion turned mostly in this point
The behavior of IN" general market DC.
Ca>oned some surprise among professional
trad"r- lh'N W'r" p'rP"''u to N'e 'o"r.
o,o.;n, rno.d,y seemed to
wv w" W. ,,u ,r,, raia,,,.a .,ron,,b
pr'-'S' a. nun ~" .., :, W
u, -'"'N Wv ,.,t - an
"''' 80 . - -
anu ,','' w u,'' ',.' T,o roor,
'r.'t'' W ,,ta, ,,s,ti,,. io,.-as,s
'loN" : w." ''' 1.,, g., - ~, ,tis
az 'EI!"H' N"'". ~, .har,
un''. il''n .'' - ga, ~,
sue u oeH's 'He '"V'p'' W - ~.
pAt u onn''ous "'e " $3.50 c." ~ .''', a., a..
were I"t'e N"''r "sO' 49, ., w..
eNp'c', pu" mn Nv 'u ol'' w '' ''.
~ lh'''N"l- W ,''s'"' ,,t !" :,
NAV '',''' "''' ,i -
Tor Vu!nerabI" account onu ''N''lS Wv
MARKET for weak -potS' hut they were not
aggressive AZ all and II T. doubted whether
the short interest has been much extended.
There i no evd"nc" IN the loan crowd OF US
having been increased any, ana To the con-
trarr. n great deal OF stock appears TO nave
been returned this week.
IN the loan crowd last night there was a
rrottv good demand for Erie and a mol
crate inquiry for ~ Paul In all other
stocks offerings were in excess OF the de-
,card The narrowing Of Erie attracted
90 a,,.rtion II /, said that London has
been selling the stock thereby creating or"
technical short Interest WhH' 'he '"r'l''oa''s
are In transit
Tho Rr,lers stood around IN the Manhattan
crowd Yesterday taking now aud then a
,it,lo stock but apparently more intent
,,,o, tho ,rodin- Of other brokers than upon
UPON w. - , ,u U,,'v ~ = stokos and
S"''"' ''.- - 4, a., .horrI,.
stokes had been ~ heavy seller in tn" pre-
crding session ,-.sx. lnrg" sellers ve-ter-
dav were = l. Blood. Buckhout, Davis Co
and Post Elavg It was Post 4 flagc VINO
issued a bulli-h circular on the stock several
week. ago or before tHe sensational rise be-
Gan Bacon wa, a heavy buyer. The impression