The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-07-26
GOSSIP or WALL STREET.

shipments Of securities principally by
express, from all parts OF tho country TO Wall
Street are said to be tho heaviest ever known
NO previous movement Of similar propot-
lions Is recalled by those who know about
such things. II would be impossible to es-
innate In definite terms the amounts ill.,
rolved In the present movement. The return
OF securities in so large volume Is signin-
cant OF general liquidation. All thut are
now arriving. however. represent liquidation
which is already of the past.
The floating supply Of the so-callet, stand
ard railroad stocks appears TO have been d.
minishing They are hard to borrow brokers
say. not In the loan GRO wd especially where
the big short interest IL seldom reflected
but around the Street. The private borrow
ing demand for stocks is very active. Com
mission houses are canvassed almost hourly
by borrowers. and partly owing to this ex-
traordinary demand and partly because
commission houses in general are carrying
fewer stocks than usual, the supply at or
binary sources seems in danger OF being
exhausted. The existing short interest is
believed to be very large. In the loan de-
partment yesterday there was a good de-
mand for nearly all active railroad stocks.
especially ~. Paul. which is thought to be
heavily oversold, There was also an active
inquiry for Sugar Brokers said yesterday
that there seemed to be something unusual
about the transactions In the loan crowd,
although they were unable 10 explain pre-
cisely what 1t was. One said the demand
would he more urgent on Monday morning
than II was yesterday.
a, ipcidspt il,urinat,va NJ stack Exchange
t.mDer in nanIckv times was recalled las
weat tn brokera by the announcements of
two failures in Quick succession. the rumors
oil more 10 follow anu 'he sehsrai s'a'e Oh
m'no resulting Mtne WORST OF 'ne H'Iro"ole
se'erai smai nt'lures were ahnouhceu one
pectinn others more serious IL had been
persistently rumored that very prominent
banking house Blank & Co, to avoid using
the name was in trouble The market was
already demoralized when the chairman OF
the Stock Exchange summoned the mem
bers with his gavel and. holding n sheet OF
paper before him, began; Il have here n COM
lnunlcatlon from Blank 4 Co.." without
waiting to hear any more the brokers rushed
frantically to their telephones and reported
that Blank a. Co. had failed. In five minutes
the news had been telegraphed to every
stock market point in the country. hut
Blank 4 Co, had not failed, and never did
The communication had reference to q oues-
ton about some stock transactions.
-
trader Yesterday, this is a heartless game
we're at. I noticed on Friday that tho
brokers who had been getting business for
years from the two firms that failed cheered
az loudly az the others when the suspensions
were announced IL didn't strike me IA
calling for cheers, but everybody cheered.
and the market was put up 2 per cent There
Is very little sympathy here for the loser
III s curious OILY ae ah 7pis'a ,,r V'a| h'"h
temperature IN hahsas gives wall street
chiis
There ~ large wall street oontlhseht
pulling corn Nearly an oil fhe western
wire houses are eHcoura3lh9 speculation on
the long size OF corn anu wh''e "oihs tnut
they cannot cohs'steh'i! Dun StochS' espe-
cially those OF the granger raiiroaus' hhrris,
Gates Go. ifsist tha' there can haruly De
three quarters or corn crop III the Ihleh
states this year, ana that may ne nearer
80 than Is per cent Inc attituoe OF mat
mouse toward the SHOCK h'anKtt ~ rh'nrr
bsArish. There 10 morning, IL says. az
the moment to induce one TO BUY standard
securities. except the prices. Inc bond
market is neglected and spectators have
suffered such losses ana investors grown so
tinnid that there is really no buying power
In the market.
,,. and corr.h v.r. OH. rr;r,i,,l
sellers OF Rubber Goods. De witt and jacob
Field bought. Field was also buyer OF
North American on the break, Hartman
4 Co. sold 1t. The abrupt decline OF more
than ~ points in North American. only
point Of which was recovered. attracted
great deal OF attention 1t was supposed
that the stock was being closed out of loan.
Several other specialttes broke violently on
comparatively small transactions. notably
Evansville and rerre Haute. Minneapolis and
81. Louis and Des Moines ana Fort Dodge.