The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1902-11-14
WILD SCENES
ON CHANGE
Powers Of Financial World Clash in
Great Excitement = Gates and
.koores Lost Heavily.
NORTHWESTERN WAS STORM Center

New York. Nov. IL. = Two very
dangerous spots in the market have
been healed. Large holdings by
Moore brothers of Northwestern,
which have been reduced by $4,000
shares, purchased by w. X. Wander
bilt at 2o4. The entire amount OF
stock was turned over to ]. P. Nor
gan's banking house yesterday and
paid for.
The effect on the market was elec-
trical. Northwestern shot up to 22f
in fifteen minutes and other stocks
generally rallied in sympathy.
All Wall street realized that some
of the most powerful influences in
"the street we're combined in a war
fare upon what is known as the "wes-
torn contingent" headed by John w.
Gates. Report had it that up to last
night Gates had lost $4,000. 900. Dur
ing the trading many wild scenes
were enacted. Pandemonium broke
out time and again and transactions
were made in 1000 share lots almost
in exclusion of smaller trades.
In the announcement that the
Moore brothers had been compelled
TO throw overheard their holdings in
Chicago &c Northwestern, the street
found the key to the three days OF
fierce raiding from which the market
has suffered. That John d. Rookie
feiler and his allies had succeeded in
disposing. at least to their present
satisfaction. of the ambitious western
ers. was cited as proved by the sub
secucnt rapid advances througho, t
the list.
The Moore brothers. with their
Rock Island scheme. to put 100000
900 In their own pockets and with
their future ambition to secure con-
troll of the Northwestern. must be
headed off," was the cry of John D.
Rockefeller. E. H. Hartman, ,tha
Goulds and their millionaire allies
These westeren disturbers, including
John w. Gates. must be suppressed.
In this resolution to punish. the
westerners was seen the explanation
Of the assaults that have been direct
ed by the Standard Oil and Amalga-
mated Copper interests. Their pri-
mary aim was to dislodge William
Fl. and James Hobart Moore from
their advanced position in Northwes-
tern, hurl them back into their Rock
Island intrenchments and there pen
them In positions where their possl-
bilities of becoming q great financial
power would no longer trouble :,
1reams of the eastemers. How much
money the Moore brothers and John
w. Gates have lost in the recent strug
yle is a matter that permits wide
range of guessing. That MIR. Gates'
osses have added up to $4,000 900
ias been confidently estimated, but
here are others close to the magnate
Who winked an eye and declared he
lad been out of the margined stocks
or a fortnight that what he had loft
we're paid for and that his "losses"
we're simply on paper
The first fifteen minutes on wall
treet has never been equaled thr
or concentrated excitement. Tho
lang Of the gong announcing the op-
ming was an invitation to pandemon-
um to take possession of the floor.
The invitation was accepted. Three
OF the brokers seemed to
ave unlimited selling orders, AMI.
heir clamor as they tried to dispose
4 stocks was fierce.
"Sell 5000 was the common offer
nd the trader who tried to deal In
ess than 1000 share lots had hard
ime attracting attention.