The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-15
GOSSIP or WALL STREET.

VI rcpfusfy unOcr the impression VAot we
stock market could be trusted to remain
stupid through the month Of March have
been rsturntns vita their Vacations cut
short. All Of them have the came excuse
for coming back. namely. the disturbInE
reports that followed tiem out OF Wall Street.
Some ware but beSinains to enjoy rheir
leave and others were in the midst OF their
pleasures when there came peremptofy
demands for their retorn. A boArd-reom
Wit observips the iu-humor In which thsss
vacstionsrs came posting home. has been
inouirins II there Is anything In tina Southern
climate TO make people bearish.
The speculative effect Of TIE bank state
mept ives awaited with q great deal OF curios-
Ity. Il was tsougst that . poor statement
would be the signal for q repetition Of the
bearish demonstration that occurred in the
last half houf Of tire previous Saturdays
session. and on the other hand. IL was q Ques-
ton how responsive stocks would be to 0
good statement. The buying. on which the
market advanced about ! per cent after
tie appearance OF the statement. was some
shat disappointing TO those Who expected
taat any increase of s,nplus reserve would
cause n small bear panic After the closing.
however. II was evident that o moro cheer
full sentiment prevailed than. perhaps. at
any previous period OF the week. Trad
ing In the last quarter OF an hour was rather
stupid.
The support that has been given to Snelt
ing shares throughout the MARKETS decline
has sttracted con siderable attention. The
position OF the company obviously has been
greatly siren stseped by the advance Of pig
lead 20 the highest price since lss? and the
advance OF about ~ cents per ounce In the
price Of silver IL IL estimated that these
advances have increased the value Of the
company's stock Of metal shout u. ono. 600.
Two years ago the American smelling and
Refining Company Was borrowing money.
To-day II II said to be loaning s2.O1o. 900 in
Wall Strset great deal OF misinforma-
ton about the company's affairs was abroad
two or three months ago. on faith Of which
a large short interest grew up In the stock.
This IL believed. however. TO have been pretty
smeitsr shsres has had the appearance OF
accumulation.
In the room yesterday the short interest
In Union Pacno was estimated at AZ much
as 10000 shares. some OF the specialists
thought that was sxasseratins the situa-
ton. but It is the general impression that
the stock IL heavily oversotd The buying
of Il during the letter part OF last week Vas
thought to be Significant.
A broker rho has somstimes represented
Important Union Pscihc tntsrests has teen
a very heavy borrower Of Southern Pacihc
for ~ versl dsys He hes taken all the steek
he could get II 10 wanted. presumably. for
voting purposes ct the forth coming meet
ing. There is supposed stlll 70 be stubborn
short Interest 10 Southern Pacific.
Harry Content. who 10 supposed to repre-
amt one Of the leading bear interests In the
market was buyer OF sfocks all around the
room lsss we~k. hsndes distributing. n vas
hn, other
hsokers Tor . fortnisht or more Content
has been the heaviest individual borrower OF
stocks In the loan crowd. HE transactions
for A while we're 80 large NJ 10 eJcfe soap
tieisn II u nov believed that perhars half
Of the short interest he represented has been
covered ACCORDING to all informatioo and
belief II was q very large interes
Francis ID carIsy. who will readily he
remembered for his manipulation Of Pam
handle. and more particularly. perhaps.
for HE literary productions on stock market
themes, has reappeared Another OF MS
0naae,sI forecasts has just come out In drcu-
lar form More than half Of u 10 devoted
to the buihns OF an obscsrs curb security
I'M Witch Mr. Carley evidently 10 Interested.
On the stock market he 10 sorptica ana OBJ
serves tina, the reason the speculative pub
lie In not dancinS 10 that cr,ppies cannot
dano
. ,,ou,,e,, ssocs vrchsass house xritss
,h., IN. rsorut laying Of Corn Products CON-
mon AAs tass yer, sood while the selling
has been prisdDAlly by usosts $40 u.eo
hoidess " ADDS thai a. uH s ".s
tho Directors gu pfoeeon os"A's '1@'
ierly dividend 81 psf "n'
.,.,,,, ..,x, borro ms demand for slo.t.
a.. rod ysss.rday ocossloned
!" 10 ,,.,... an. seaersi impression b>Sns
800 ~ nI..~llsneou. short interest," had
u. -. Thuf,day Judsins from
,,.n...slous ho,sssr. there
NJ, $50 -. a Ioi OF psefss.loasl -hori
ss,llns on 20. rsIy Tho priaapai inquiry
sss fef tnleh fsanr sss
wssasA pfesef'-a % s, - '.....
p'sts''ed sss..ss 70 's.s ~ ,as...s s.a'.s'
rsasss - 10 ,is sasa 'ss $500.
sgsiion 70 go $40" '''
fs,s ss' pee 90"
The is''hss es.ss - 49,.
-. ss.sis ~ us lss 49, -. -.
nlsisl sss s'"'es.ss }" -,
'aig a. go 800 lsh''ss s,,. "a
taash ssfissio "' "" -
'sssssa1Asiss see 1850 -,
ilsa esssAe 30 sse ess -.
lafSTSnlIllal sksf shtH @fs' hsf 49,