Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-04-09
The SPECULATIVE FEVER
Western Men Pouring Buying
Orders Into the Wall
Street Market.
Huge Blocks OF Railroad Stocks
Being Bought Up by
Chicagoans.
Immense Number OF Shares OF
St. Paul Secured for
Moore Bros.

New York, April 9.-BfoKerS acliNe IN
the trading yesterday said that fully
one-half of the business came from
Chicago Houses with Chicago wires
gave out orders for huge blocks of
Louisville & Nashville. Missouri Pacific
and st. Paul, taking fully 10000 shares
OF Louisville & Nashville alone, and at
the same time were prime movers IN
many stocks like Twin City and Du-
luth, South Shore & Atlantic These
buying orders kept pouring into the
market until the last hour, when there
was some heavy unloading that caused
material recessions. This predominance
of western interests in the market has
been apparent for some time.
The prominent figures on Broad
street or Wall street now are those of
western operators who have changed
their base for the time from Chicago to
New York, and the scope of their oper-
ations may be inferred from the fact
that one firm, making business of
carrying stocks for Chicago houses. is
now borrowing $30.000,000. This firm
is only one of half a dozen engaged in
carrying stocks for Chicago people, and
IL goes without saying that without this
business the market would fiatten out
and present hardly any feature worth
noting.
Incidental to this trading the state
ment was made yesterday that Hollis
ter s. Babcock, who We're the heavy
buyers of st. Paul last week. Monday
Borrowed $5,00O,000 on time for the pur-
pose of carrying their accumulation of
st. Paul. This was taken as a strong
indication that the, buyers of ST. Paul,
supposed to be the Moore Bros, in
tended to carry that stock for a long
period, and perhaps use it in some way
for the carrying thru of new deal
similar to the movement engineered by
them in Rock Island. The course of the
last-named stock, tho. created an i'm
preston that it was being sold, while
ST. Paul was held firm.
The Gates interest. including Jacob
Field and a number of traders, were
credited with causing the movement in
Duluth, South Shore & Atlantic. The
movement was accompanied by various
statements in regard to present and
prospective earnings, but there have
been no new developments in regard to
the property, and apparently there can
be no change in its prospects with con-
troll held as 1t is, by the Canadian Pa
cific. With the 800" stocks it is off
ferent. 1t is understood here that the
minority holders of the 800" stocks
have forced the Canadian Pacific peo-
pie to agree to a distribution of earn
ings in order to avoid legal action to
determine where the control of these
roads is really held.
couple of cliques of traders, are taking
no interest in market affairs just now.
Mr.. Keene has been back from Ken
lucky since last Friday; but has not
yet appeared on the street. The Palm
Beach colony are back in the city, in
Guiding most of the Amalgamated di.
rectors.
1t is an open secret here that thu
Amalgamated will pay dividend of y
of / per cent at their meeting next
week, but only for the purpose of keep
ing the stock on the dividend paying
list. The copper fight is still on in
earnest, no matter what reports are
current, and the Amalgamated people
will soon re-enter the copper market as
cutters of prices. All they are waiting
for now is for the Calumet & Hecla to
make a price for their product. The
has already been announced
that the Amalgamated will sell its
product without regard to price.