The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-11-23

GOSSIP or y iLL STREET.

\ budding bull sentiment in th, room was
! dis-ipat"d by the bank statement, on the
| appearance" of which profess iunal traders
sold stock, IN rather a lively manner The
| bank statement sharps had been unanimously
wrong in their forecasts Before the Clearing
, HOUSE figures appeared there was consid-
! erahl. selling irr profit. but the market took
| II very we'll. and tho early sellers were pre-
| pared 20 buy back their stocks in the event
! of the statements being up to expectations
/ A. u turned ont. they sold short 10 the last
| halt hour ON the theory that prices are likely
to react further at Mondays session
thing freoucntly heard in tho Street
| YESTERDAY was that the markets. sharp ad-
vance in the sessions of Thursday and Fri
| dag WAS favored ia'g " by the "B \ ~.
| money" placed temporarily NJ III" disposal
| Of operators for a rise The tear was n FREE
! quently IMPRESSED that this money might De
| found to have strings to II, the pulling OF
| which would Ice likely to cause u sharp re-
action There il no doubt that speculative
| interests attached.a great deal of importance
| to the lending of large amounts OF Pine street
| money On sixty days time. and were encour
aged 10y that to ep"cuat" tor an advance.
! bu, If this was TIA" b & q money" IL could
not very well have anything shorter than
| sixty-day string.
Tie bank statement Was especially diEap-
pointing to traders who were Influenced by
the bulli-h enthusiasm III Fridays session TO
| begin Specializing for a rise They had been
! led to expect a more favorable statement
particularly in thc item Of loans " early
as lat Thursday. for example. there was
| information ia the room that loans would
| show a shrinkaga q! something like So. oouo
The -hrinkage actually shown pls insgniil-
cant as COMPARED with that estimate. II
was seen YESTERDAY that there could not have
been any reasonable warrant Tor the san eune
! talk that had been heard about the bank state
| m.n, and in calling attention TO this "A we'll
known critic of the room crowds Nagarie-
observed that bull traders had only tn II
! Imagination to blame for their DISAPPOINTMENT
Ordinary observers expected that the
enormous and violent liuuida, ion In the
session Of Friday the week before WOULD
be reflected in yesterdays bank statement
tugrt her with whatever other hpuliauon
h ut failed t,herto to get into the "av,ra ges
One Of the best. known aut ortiz on money
In the Street says that specuAtiv" interests
have unnecessarily hewildrred themselves
over the failure Of stock market hguidd-
ton to reflect heavily in the loan accounts
of Clearing House banks Tor i've months
past, he says, the Wall street banks hdN"
c0nhncd themselves pretty closely 10 ritl
loan and have loaned very moderately
To stock market peopl" OF time. ia" 'Ig
speculative operations that oulnnnst"d early
in autumn, therefore. were financed largely
with ont -uf-toW'i and foreign lands. There
has been. according ia l. aut' nrlty. ire
mendous dscrcas. OF Wall streets ind"btod-
ness to out-oi-toNn banks and foreign cred
itors which has not appeared in the weekly
returns of the Clearing House. II j. c-ti-
mated that Wall streets foreign debt alone
has been scaled down s5o,oco,cno as result
of IL. liGuilntiln Of speculative stock lc-
count.
81, -,
IL" CONFER st".As WV 'o'''' VI si",'''
interest III u" S'ort session, oNhe 70 lhe
now turn OF matters l" the lhpot sNual'"h'
Thor. j. 81 id to have been a very large = ort
has been behaving in n suggestive manner
of late, dd vHnc cling by Jerks Tor no apparent