The Montgomery advertiser., 1902-04-12
L. & N. CANNOT
 BE CORNERED
Continued from Page one.)

(COnL1nuGQ LTOm 1d6C SAAcJ ty days to have them properly signed by the officers and made ready for delivery.
 The directors. therefore, adopted the only expedient open to them. They sotn the stock at prices around l0o, borrowed the certificates from Stock ExchanRo houses to make the deliveries, and thus technically went short of their own stock' intending to deliver the new stock to the brokers of whom they nao porro"eo the old when issued.
 John w. Gates was quick to see an opportunity for great speculative move.
 He hold out several hundred thouhand shares of Colorado Fuel and Iron and began buying Louisville ana Nashville
 against the great short interest whicn
 the directors had built up. The stock
 began to advance rapidly. On April It sold up to 1O6 l-2. On April 1t soid at l06 On April it sold to l07 1-4 On | April the high price was 1o6 3-4 on April $ it advanced to 10e 3-s. The high price on Monday last was 1Q9 1-S. It sold l up to 11O 3-S on Tuesday, and yesterday | jumped to IA 5-S. l As fast as> the stock has advanced | brokers acting for the Louisville and | Nashville Railroad have been making deliveries from the stock owned by the directors themselves. As the new stocR
 will not be ready for thirty days. they are forced to adopt this cxpedient to prevent Mr., Gates from estabhsn'ng h'' | corner.
 l On the other hand, there is grave dan' ger that control may pass out of the hands of the Belmonts If they let go toe much of their stock, so that from strategical viewpoint Mfr. Gates appears 1 to have very much the best of the situa' 1 ton.
 Wall Street has been deeply interested in the fight. but there have been no WIG scenes on the Stock Exchange incidenta to it As a matter of fact the battle hal
 been conducted with noiseless as well al
 smokeless powder. It was only yester
 day that Wall Street knew there was
 fight on. The strength of Southern Railway II due to sympathy with the upward move ment of the rival road, and this led t' sensational story that MT. Morgan
 was attempting to get control or Louis | yille and Nashville and unite the tw
 great systems. As a matter of fact, the two railroad are fighting each other bitterly, and tn new issue of s5.o 900 of stock, which l B the present corner in Louisville an Nashville was caused by the desire Q the latter road to get control of Atlants Knoxville and Northern, which, in con function with the Knoxville. La ? toilette and Jeliico road, backe -by the Louisville and Nashville. will giV !. that system an independent line betwee Cincinnati and Atlanta, Ga, consideraoi shorter than the Southern Railway ], competing line.
 q A World reporter yesterday called upo j. August Belmont and asked him II T Q would make a statement about the a s | tennt of MT Gates to corner the stoc
 and the efforts of the directors to thwai
 him. Mir Belmont replied:
 q have no time to talk about thes ], stock market rumors."
 n An effort was also made to procure e the office of Mr. Belmont and at u - office of the Louisville and Nashvil n Railroad. at No. 120 Broadway, full d' :. tails as to the sale of the new stock. A
 information was refused.