The sun. [volume] (New York [N.Y.]) 1833-1916, 1902-11-27
GOSSIP or WALL STREET.

occasi oned more contradictory information
than Is remembered to have preceded any
other financial transaction Of recent years.
Persons who ordinarily possess the important
secrets OF the stock market world. banking
interests and even men who Wall Street
hitherto has supposed were closely related
to Gould affairs. protested to the last that
they knew Of no deal. adding that II one
was on they would be likely to know Semi
Official confirmation no sooner was forth
coming from one source than 4 positive
denial was forthcoming from another.
both sources being. as a rule. equally re-
liable. Wall street was much ewildered.
There Is reason to believe that some OF the
denals were given in good faith Others
came from men who It Is impossible to believe
were unaware OF the negoti ations
The Buffers again yesterday we're the most
conspicuous figures In the Manhattan crowd.
They bought the stock up to iSS in the early
trading and Z. c. Potter then bid it up across
1877 to the highest point OF the day. Around
i5s selling orders that were supposed to have
been distributed by the Buffers began to
appear. The character OF this selling was
open to debate. some thought the source
whence il arose was too thiny disguised.
and argued from that that the bull party
was trying to cultivate a short interest II
this was the purpose It carried we'll. for room
traders sold the stock heavily. The buying
In the last half hour was considered good
The Buffers themselves took lot Of II around
/ O'Clock at 1881 and were heavy buyers
again after news Of the deal was out.
Last night for the first time since the Man.
haitian movement began there was a brisk
borrowing demand for the stock in the loan
crowd. This was supposed to reflect short
selling by professional traders In the course
~ In do hxApa ant hat
a deal WAS actually TO be announced. which
was shortly after noon. the room crowd sold
Manhattan on the theory that whatever the
arrangement was II had already been ade-
Quately discounted The only other i'm
portant feature OF the loan crowd was Union
Pacific. for which there developed a lively
demand. The short interest in this stock
is believed TO be large.
A year ago. when st. Paul was selling
around ia and l.. Il n. around 100. a
Southern banking house issued a circular
comparing the two stocks In an analytical
study OF their respective merits, and the
ii2s per cent. on its capital stock. was
worth ia. Louisville. earning 1890 per
cent. on its capital stock. ought to be worth
ies The same house has just issued another
circular on the same stocks. calling attention
to the fact. that whereas st Paul on
the date OF this circular was selling still
at ia L. Il N. had advanced to i24. The
treasury assets Of the two companies are
compared Those OF the Louisville and
Nashville company are said to amount TO
more than 50 per cent OF its capital stock
while those OF the ST Paul company amount
to less than 25 Of its capital stock On this
theme the circular e nds by relating: Two
yea r. ago one of the brightest railroad men
in the country said that the treasury assets
Of the l.. 4 n. were large enough to enA-
bic one to buy control OF the property and
to pay for the same out OF its own treasury
The contest for Colorado Fuel and Iron
proxies Ia being carried on with a great deal
| of heat on either side, number OF seller
| 30" transa ctions were recorded yesterday
on the tape at an average OF = points below
the market Just before the transfer books
we're closed similar selling was seen, but nj
more noierate price concessions. The sell
ing OF this character yesterday was thought
to be- for the ocount OF interests that bought
the stock lower down 4 few days 20 purely
for voting pur poses and by selling 1t now
| "seller 30" come out even OF better with the
market, while still retaining the actual GER
tifioates for use at the annual meeting II
was reported around the Street Yesterday
that the Master In Chsncery will consider
possession Of certificates suf'cient evidence
OF ownership and 30 permit actual stock
to be voted by whoever presents II whether
it stands transferred or not.
Hatch began the heavy selling OF Smelter
stocks and was followed ny room traders
The decline in the price OF silver was generally
assigned as the cause OF the break II Is
said however, that interests that have been
carving Smcler stocks patiently on inside
advice are be ginning TO be apprehensive
and want to sell out. The shares are not
widely stributed be ing held In large amounts
~ houses and speculative interests friendly
to the management, When Amalcamated
Copper began TO break so violently fort
night 60 Sneter common was selling around
| 80 II sold yesterday nj 20.
Al. Coonbs was a heavy seller OF Union
Pacific The 5000 shares at 99H bought by
Heming from Miller on the latter's offering
of it for speculative effect in Tuesdays session
were sold at n small profit before the close.
and Yesterday Miller covered at from 9s'.
TO %. Post A Flag sold Union Pacific in
the late trading. Brokers sometimes acting
| for Pine street interests continued TO take
| Il moderately on scale orders. Content and
Miller both were buyers around ais o'clock.
bidding It up TO seH, sagssd again before
| the close.
II IL reported that Moore party interests
| have bought more than 10000 st. Paul this
week
The selling OF United States steel shares.
| especially the preferred. rave rise yeeter.
| day to considerable comment. Commission
| houses were sellers on the decline. but pro-
fe.sional traders appeared to have something
to do with starting the movement. II wss
Jurgensen who started the common down
! from ga, He sold II consistently all day.
Sellers of tho preferred were Mcintyre 4
Marshall W r Mack j. Griesel and Lang