The Montgomery advertiser., 1902-04-15
GATES PARTY IN CONTROL
Not Believed It Will Be Merg-
 cd With Southern.
Same Difficulties Now Confronting Great Northern and Northern
 Pacific Merger Would De En- eountsrsd- Developments.

stock market in the final hour today pre- scented scene that bordered on demor- aIization. It was caused by what virtual ly amounted to corner in Louisville and Nashville. Throughout the day one sem sational advance in this stock followed another, until at o'clock this stock was uuoted at IF l-2. From that point there was a sharp bulge., which sent the price scurryins up to 1Ss. the high price on the movement.
 It was reported from the floor of the Stock Exchange that the buying ap- pesred to be for the account of those in siders in the company who are reputed to have sold the stock short
 While the rise was in progress in Louis- vile, sensational fluctuations were made elsewhere. and just before the close 1t seemed as If the general market were about to sustain a violent break.
 Stock Loaned at 3 Per Cent.
 Notwithstanding the technical condi- tons governing Louisville, the stock was loaned after closing of the exchange at per cent which Is a normal figure. and does not indicate any pronounced scarcity of the stock.
 Throushout the day rumors were rife regarding the Louisville mystery, which those responsible therefor refused to clear up with a definite explanation. It was said during the day on no particular authority that the Gates party had con trol of great many contracts rcpresent- ~F nA nal would demand settlement in the open market. ass ..@ ss
 Today's rise piled up some enormous losses for those who are short of Louis vile and the end is not in sight.
 Morgan as Mediator. Among the stories circulated late this evening was one to the effect that Mir. Gates had offered to allow J. P. Morgan X Co.,, to adjust the differences which apparently exist between his party and August Belmont & Co. Before the up- ward movement began today report was circulated in the street that the Gates crowd controlled more than S0o.0oo shares of the stock. but that a considera- ble part of this consists of contracts to deliver, which it may take time to full 6li. Rumors of a corner again became current, but it was evident that the street had overcome it's nervousness. and it was not taken seriously. President Keppler's assurance still had its effect. Relative to these new rumors of cor uer. John W. Gates was asked if such a thing was possible. He said:
 s~Aa
 NO. there is nothing in that. No one want a corner, and I am assured by Harris, Gates & O., that there will not be any corner. I incline to their belief myself I cannot discuss the Louisville and Nashville situation in any way. l have no statement to make concerning it, and shall make none. As far as the general market is concerned. believe it will go higher. and I have received cable dispatches from London which say that peace may be concluded with the Boers during the week."
 Neither August Belmont nor Judge w. H. Moore would discuss it, either. Many still hold to the belief, despite more or less technical denials. that the Moore
 
 vile situation. Many things point to that as being the solution of the mystery and until positive announcement to the contrary is made. many conservative Wall Street brokers refuse to believe anything else.
 Not for the Southern. There are many reasons advanced why the purchase of the road should not have been made for the purpose of consolidat- ing 1t with the Southern Railway, not the least of which is the fact that such combination would raise exactly the same question. which is now before the court in the case of the Northern Securities Company. the merging or consolidation of parallel and competing lines
 For the time being, at least. no accu- rate estimate of the situation as far as Louisville and Nashville is concerned. can be obtained, but it is well to bear fin mind that the element of proba bility enters into the theory that the Moore Rros,, the First National Bank and John ". Gates know more about 1t than per hans any one else, except those who may have been taken into their confidence, to further the plans necessary to carry out n scheme which is kept a secret