The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-14
SHORTS AT THE MERCY
OF OLD ANTAGONIST
Coup in Martha Washington Gives AviraS E. Snow
Control of Market For This Stock.
Bears Can Be Forced Pay Any Price He Names0d Scores to
Be Settled.

III OE IS ahead for the shorts in
3W Martha Washington. For once
they have overplayed their
band, and they are absolutely at the
mercy Of Alviras z. Snow, manager Of
The company. For years certain min
8ng stock brokers have made a foot
bah Of this Tintic stock. They have
Banded and kicked it about, boosting
t a cent or two until perhaps a le-
ultimate buyer appeared, and then
hammeTing it down with short sales.
tThcy have abused the manager as Wig
<orousl-r as if he were a horsethief
~ a piekpocket. They have thWarted
zhis plans, have kept the stock from
advancing, have attacked the merits Of
the property as well as the manage
ment, and have carried on a bitter war
flare whenever the opportunity pre-
scented itself. Most of the time they
have been in control. Now the tables
are turned. Mr.. Snow has them where
the wool Is shortest. and it is in his
power TO mulct them for almost any
amount.
If every outstanding share of stock
were delivered on contract, it is said
there would stiiI be a shortage of 100,-
600 shares. Mr.. Snow holds the stock.
He could pat the price to SO a share
. If he felt so inclined, although 1t is not
expected he viii do this. He is in a
position to break" several prominent
bear operators. In the past they have
shown no mercy TO him. He is not in
the mood to show mercy TO them.
Fun For the Public.
The stock has advanced from 21s
cents to 12% cents. yesterdays quota
ton Tomorrow it will go UP or down
as Mr.. Snow takes a notion
Meanwhile the public, which has suf-
Tered so often BY the Vaccinations on
the stock exchange, can sit back and
jess laff-" That is what many per-
sons are doing. Scant sympathy was
expressed yesterday for men who have
made profits in the past by maIignfng
Utah stock and by seeking to depress
values. This time they have put their
necks into a sling, and some of them
viii be forced to pay dearly.
1t is stated that the failure of Frank
ID. HigginbOtham yesterday was due
largely to the fact that he was short
on Martha Washington. Other brOk-
ers are known to be in a tight place
and more suspensions would surprise
nobody familiar with the facts.
The present situation is the result
wholly of a stock market coup. For
more than a week it has been known
that a syndicate formed for the pur-
pose has been gathering in the shares
of the Martha Washington company.
It is known that it has been particu-
larry active in buying up futures right
and left The game has been played
on the one hand with firm determine
ton to make the brokers who thought
they could short" the shares with i'm
puuity suffer the consequences of
their folly. On the other hand. the
brokers have been indulging in the
play with utter disregard of the con-
sequences, in the firm conviction that
the combina zion was too weak to hold
out.
Brokers Get the Worst Of IT,
The result. up to date, is that the
brokers have got decidedly the worst
OF it, and if the combination is not
reckoning also without its host, there