New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-05-08
WATCH STOCK HOUSES.
THE ARBITRIGE SCHEME.
Alfred n. Goslia and the Light,
FncL nnd Po.ccr .GampuLaiion.

Tae inquiry which has been iast!-.teG hy the
governing corrGiec 90 the stock EXcharSo, in coI4-
Feg.erce % 20. disclosures "a tts Wcoieac case
lad not developed far enough yesterday for any
pr5Hc statement 10 ao made by t.e ofcials or
thc exchange The talk among tie exchange
members H. however. That more than three STOCK
Ezchanre houses are under suspicion and osserva-
t.ou. The movement for an Investigation is sup
ported by the members 90 tho exchange generally
who wat n thorough inquiry - be U.cCe and
wan. Il started a. once.
II ig argued by some that ea iuy--tiea:.on VIII
have had market eject. now thct the sliphuhd-
.nC disclosure have been almost forgotten cihefs
say that onoVvh has now come out To- MAKE me
public suspicious and that The h0racclearing must
he thorough and that lhe market Is now just n
the right place for il.
According 10 rumor yesterday prominent mem
her Of The Stock Exchange is mixed up In the deal
in Light. Fuel and Power Company. az West w
GINA stock. which came 10 light on Friday. The
bucket shops were The target Tor this movement
the maupula tors buying thet stock ma known
bucket shops. aware that their orders would be
ruckcted and figuring that big short interest
could I'm that way he created without q public
movement
II Is said that the governing committee OF the
Stock Exchange viii have difficulty I'm proving the
guilt Of members who said he in the business
Of arbitraginG between tho stock Exchange and
the Consolidated Tho way the scheme was
worked il was explained yesterday. was this. The
STOCK tACnanBe mt flncl Noulu nave MS AS4eA'A''N
running from the exchange 10 his own Office
plugged TO the outside trunk line all day. The
Consolidated member would have his private eA-
change wire fixed I'm the way Then, through
the public telephone exchange. tho Stock Exchange
would cali up Central" before exchange
hours and order connection with the Consolidated
house maintained until O'Clock IN the afternoon.
There is rule Of any exchange preventing one
orders for him a. the regular rate Of commission.
10y the scheme worked there is no permanent
According To report in wall street Alfred r;
GosLn has directed the manipulation OF Light Nel
and Power Company stock which has been IN
progress for MANY months. The heavy short inter
of Goslin The story goes recently demanded delv-
cry Of stock which he had bought but when an
discovered that little or no stock Was To be had. on
Friday when il happened that no broker Was in the
curb crowd IN the interest OF Light Fuel ana
Power. broker offereu 300 shares for sale, The
price on Thursday was said 70 have been - but
MS man could get no better n.ds rom pureha$ i
than 2i2 and 1872 men news OF me tansacll'l
reached the Offices OF the company a young man
any part Of i665o shares this bid convincing the
short interest that they were cornered. Henry J.
= 40. l39 NassaU-st where he occupies offices with
Ilppmann q Ruck. who are Goslin's attorneys Mr.
thing. and thar is that Mr. Gosliu has ahso-
Power Company Of West Virginia, which is not
the marker 1n0vc,ient Of its stock
What is there I'm the story Of the stock being
There is nothing in II. The stock is being traded
iu from day 10 day. and IL Is not impossible,
has been said. 10 obtain shares for delivery
Doesn't Gosin make MS office here"
no. lIe $ a client Of Mr. llppmaun. whose
Offices are here-although ] am not associated
with Mr. Lippmann,s 1rm-a,nd he comes IN here
occasionally No. I don't know where his Of
fee IS "
Mr. Iippmann. being asked where Gosliu's Office
was said Mr. Goslin has no office AT present
He is engaged in great deal OF litigation.
YOU know. and whenever n Is necessary for me 10
him regarding u ] send for him and he comes
here"
But about Gosn's connection with the Light.
Fuel and Power stock manipulation. Mr.. Iipp-
MANN"
Mr. GosliD has had connection whatever with
H. He Is too busy al present. TOO much
occupied with his litigation for IL 10 BE possible
that he could find time 10 engage I'm any operations
OF the
When the reporter entered the Robert Lppmann
offices. h asked the office boy. is Mr. Goslin in2'
No the boy ausWe cred