The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-03-18
GOSSIP or WALL STREET.

GOSSIP or WALL STREET.
IL was said In the room yesterday that the
sold-fashioned' houses were buying stocks
good buying. either for investment or the
long speculative pull.
Shortly after I o'clock yesterday. when
the market was very dull. some twelve OF the
younger members paraded into the room
wearing high hats trimmed gorseously with
green. While the subsequent 81. Patrick's
day festivities continued business was prac-
tically suspended and people around the
Street wondered what could be the matter
with the market. Destruction OF the hats
finally ended the diversion. The new chair
man was not 90 strict. after all.
Persons who pretend to know the terms on
which new stock will be issued are not bullisA
on Pennsyivsnia. Much OF the recent cell
ing II believed to have been Of an antci patory
character: that is. holders have been selling
short the proportion Of stock they expeo to
be allotted to them out Of the increass. Such
selling, Of course, IL against actual holdings
of long stock, and the resulting short interest
10. In the vsrnscular. technical one. There
d, In addition. q large speoulattve short in-
terest. Tho stock 10 thought to be heavily
oversold, and the only explanation traders
power 10 that the largest shorts are prepared
10 deliver long stock In Q pinch. and that being
the case, the short interest 10 not vulnerable.
Peuusyivania 10 being heavily borrowed. not
only IN the loan crowd. but privately around
the Street. II appears that conservative
houses which do not like to figure - bor-
rovers on the floor are short Of it-technioaly
abort, presumably. in the manner Just de-
scribed. Ellinewood Cunningham and
Street 4 Norton were heavy sellers yesterday.
street 4 Morton sold 1000 shares In one lot
TO winslow.
BOuvisr, Provost BroA and specialists bid
up At Psnl. The advance was thought TO
be at the xpsnse Of . considerable short In.
terest Street Norton were large buyers
around 100. wosmssr also was buyer.
I. n generally supposed that the principal
operators for Q decline have carried . great
deal of short stock this week. The misoel-
ianeous short interest does not appear to
have increased.
The speculative position Of Consolidated
Gas IL the sui OF much conjecture. There
Ia believed to be . largo short interest. and
buying for that account was thought 10 he
responsible for yesterdays advance. Many
are sc,pticsl about the recent depression
Of the stock, and draw Interesting differences
from the apparent character Of the selling.
Tho wormsers were aotivs In yesterdays
trading and seemed TO Be buying on balance.
Othsr buyers were Post 4 FlsSs. Lanshoar
being borrowed.
The decline Of oorn has ocossionsd general
sstisfaction in Wall Street Stock market
interests are pasassd because cheaper grsin
means larger exports and . moro abundant
IA pp,y Of exchange bills anon. and large
Wall Street coptinsent that has ben heavily
short Of the cereal 10 sreaty relisved. IL
n curious that when the etodk Exchange
continespt was moved 10 seek speculative
n element In other markets II took the short
side Of both Grain and cotton. II 30 been
short Of corn for two months.
western railroad men are enthusiastic over
the winter wheat prospects Tho reports
that are being received from the Granger
country describe the outlook for that crop In
hieh terms. This 10 particularly true Of re-
ports from the Southwest The Govern
ment's nrst report on winter wheat VIII he
made on April 10 II 10 awaited With great
deal OF interest by grain men. The STOCK
market community has not yet begun TO u.s.
cuss crop prospects.
some traders make II q point With them
selves these days not 20 quit the market
without taking on q little lons Southern Psd-
fc on the mere chance Of sensational devclor.
ments over night II will be understood
from this that the prevailing impression
smons traders 10 that sensational possibilities
lie chiefly on the long aide Of the stock On
the authority Of nobody In particular u vas
said Yesterday that southern Pacific would
eros. Union Pacific. The buying Of both Union
Pacific and Southern Pacific YESTERDAY nv
brokers who have represented impors"
hear interests was vartaby construed Cow
tent and Griessl were the principal buyers
was ulso Q buyer Of Southern Padho AZ IN
t<gvsis. and Talbot ., Taylor Co took Coos
In the forenoon The alignment NJ brokers
IN either STOCK has been very confusing rom
the beginning The large orders have oe>h
90 adroitiy distributed that the brokers ere
cutting them have not understood their man
Ing.
Content Sss q heavy seller Of Atohis'a
during the forenoon. in the afternoon 10
ss~n,sd Tn he buying u back from iisasrs
The stock appears 10 contain oonsidsfse"
short intsresf.
In the loan CROW q last night there ds'slef~a
% urgent demand fof PennsyissniH, but 'hs's
Sss saeasb stook 60 so around Tho" ss'
aiso sa sesiss inquiry fes Atshis"h
dsnsnd fef Southern fsrhs 500 nl"h fe'
rtUt Nes httti thteitsf tash -"
Ifsnssesions ih ethsf stooss ssis h"'ssA
I.esa,ns rates ssfs o., ana 49, os"'
A sea.insni tasasy Lfaksf Asss''' thai
seaanlens sgs saslsf thah "a 10
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