The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-12-07
GOSSIP or VAIL STREET.

GOSSIP or " ALL SIHEEI.
In the loan crowd Yesterday there was
some little demand for Sugar. NchiSon.
Baltimore and Ohio and Union Pacific. but
offerings were abundant Tn" general Dor
rowing inquiry for stocks was insignificant,
showing that there had been no material in
crease Of the profes ,ional short interest
one interest is still borrowing 5000 Union
Pacific that was sold short around II?
At intervals Yesterday trading came TO
dead -tand~'ill. and the room crowd de-
veoped n humor for devitry. group OF
traders gathered 10y accident around the De-
troit southern post Nothing had been doing
in Detroit southern for long time Some
body made an curavegant bid for about
twice the entire capital stock OF the road and
somebody plsa sold II to him The crowd
fell at once into the fun Of the thing, and IN
the next ten minutes control of Detroit South
ern changed hands several times The COM
mon stock was bid up from ~ to 81 ana the
preferred from II 10 81 Carlisle. Morgan.
Barr Stichel and knoblauch were the heaviest
buyer II was agreed at length that StieDel
owned the Detroit southern and Knoblauch
brought in "A six hat with which to crown
him The hat diverted attention from the
stock. and while II was being demolished
there was n great fall In Detroit southern
securities both the common and preferred
stocks declining To their normal levels None
OF this. OF course. went out on the tickers
Room traders do not stand long upon
their speculations these days Most OF them
make Il a point TO quit the market fiat each
day Some were short of Reading a few
hundred shares. aud their covering yester-
day caused t'e appearance OF strength In
that stock From IS II advanced to So. and
then 10 So. on two trades OF only 100 shares
each This was remarked rs showing no"
apparently limited is the floating speculative
supply of that stock
81 Paul closed in London :. Of per cent
above New York parity. but il was sold down
n this market in much the same manner as
IL was sold ia Fridays session Chap
man 60 sold about i5oo shares Van
Antwerp Of that Arm oG,r'd loo shares from
va. to i72i, before finding a buyer Other
prominent sellers OF st Paul were 81 >"ll.
wasserman. Manning and Dominick Domi-
nick Traders continued to view the selling
Of this stock with some msgiving. IL was
considered one OF the worst features Of the
short session
CD wadswor,h BID per cent Yesterday
for sioo.oo money for week. Non" was
offered Ordinarily a bid like that would
not attract attention. bat 1t did YESTERDAY
because traders generally were apprehcnsive
about money for the corning week
Commenting upon the unimportance Of
London's speculative transactions In ~AmcIt-
cans an English member Of the Wall Street
community related the following incident
In London recently h" was talking market
with prominent English broker who nor
I O ed casually that 81 Paul ought to do
better because a very large short interest
existed in stock t." Wall Street man IN
olirsd as to the extent of the short interest
no I brnkpr 81 under
stand IT amounts TO as mo as 1900 shares
In Wall Street n short interest Of , 500 shares
would hardly be deemed worth talking about
Two Stock Exchange houses have issued
circulars on Eris -hulsh circulars. Of course:
nobody ever issues bearlsh circular In
one OF them there appears the following
"A large banking firm has been aCCumula-
ting the Erie issues for the last five months.
having already owned q large quantity.
which looks as II this firm desired 10 acquire
the entire o lpital stock Both circulars pre-
sent abundant statistics in support OF the
conclusion that the Erie issues are tn"
cheapest cheap stocks in the railroad list
The first preferred is urg - as a reliable divi-
dend mayer and ia" common a. an attractive
specuat o.
The feeling prevalent in the room IL that
| OF Indifference Most traders are prepared
to see a very narrow market for the remainder
Of the year The alarmi't IL much around.
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