The sun. [volume] (New York [N.Y.]) 1833-1916, 1904-10-30
GOSSIP or WALL STREET.

was maze IN yesterdays two hours OF trad
ing, Predictions were freely ventured after
the close OF the market that, barring some
such unforeseen thing IA the war scare last
week, there would be an opening on Monday
well worth witnessing The heads of COM
mission houses began yesterday to prepare
Tor IT, engaging the services OF two-dollar
brokers In advance and making other ar
ransements for handling a big volume OF
outside business. demonstration on Sat
urday 10 expected to advertise the market
fayorably over Sunday and cause an accumu-
iation OF buying orders for the opening on
Monday, but the outside response yesterday
was immediate. brokers reporting a sharp
Increase OF miscellaneous buying In the last
hour on the advance. In the last few min
utes OF trading the market became con-
geeted with orders, and Mt the closing the
ticker was more than Ave minutes behind
transactions For a short session II was
about as strenuous al affair as has ever
been seen on the Stock Exchange. Many
OF the late orders could not be executed.
Some protested that the pace set yester-
day was little too furious and that II could
hardly be sustained on Monday without a
greater volume Of outside buying than has
been seen in the market for two years. There
10 no reasonable limit to enthusia sm OF the
bull element.
Large lines Of speculative stocks hastily
thrown over on Tuesday and Wednesday
Of last week on the wdt scare were recovered
later. The Gates crowd 10 said to have
bought back lot OF stocks. A line Of Union
Faciro sold out below 10 was repurchase6
at higher prices. and 1t was q matter OF CON-
graduation yesterday among those inter ested
In this particular speculation that they
had been able to get the stock back on any
terms. This Is but one instance of hundreds.
One OF the most prominent Pittsburg
houses, 80 called. In Wall Street has begun
70 take moro sanguine view of the steel
trade outlook. Sentiment has rapidly re-
covered from the disagr eeable surprise con-
tanned in the last quarterly report, and there
Is q disposition to look forward rather than
backward. The apparently good character
OF the buying Of the Steel stocks on the break
that followed the appearance of this report
has been much commented upon. Steel
preferred will sell ex dividend ;. per cent
next week.
The largest orders executed In Rock Island
yesterday were said to have been distributed
from original sources. This stock was the
leader OF the market In point of activity,
having a volume Of more than 125, 900 shares
In two hours trading. at n net advance OF
X per cent. to a higher price than the high
est reached on the last previous bulge. When
the Moore crowd Is bulling thing there can
be no doubt of what II is doing. Its methods
arc direct and call for immediate results.
Assurances were given during the week
that as soon as the market recovered Rock
Island common would be started up again.
The prediction 10 that 1t will sell at 90 on this
movement.
Because highly speculative operations
conducted on a large scale are not always to be
a t,ktD NOD bnt t,,, anI
observers. from transactions Of a more i'm
portant character. a great deal Of comment
that IL intended to be serious either becomes
ridiculous or ia wasted In market like this"
said broker last week who is in position
to see the inside Of many things. I'VE are
apt to forget that there are hundreds of men
here who. individually and in groups swing
1000 or 2o.ooo or even $1,000 shares OF stock.
Just as you or ! would trade in 100 and 200
share lots-that Is. merely for profits Of or 8
per cent. Four or five such men. we will :
say. are at luncheon. They all operate
through one large house. possibly a specula-
two house and possibly one that has not that
reputation. They are talking about the
market, Of course. and one OF them says that
he particularly likes certain stock for reasons
which he gives. or probably it Is only an In
pulse with him. He is known to be shrewd
trader. and when he says that he IL going to
buy some for himself another of the party
sa M. sp,,v mn for mo Thon thu +bora m
,u ~ no ~ = mo onch AVID nooI ia rnr,,od
Thay 90 hacL to the ofnce WHARF the. nj,
800 80 ,iy. ths ordars Thoro 10 n stir in
~ stoor ,rh.n ~ ordors onr. IN ord
hroLors rsnort that this ia Good bu,iog nv
~. =. 49,, .ad h,,,,,nn -. ,h,. 80 Co.
ena. t ~ a.. .,,,,;u ~. 800, 49, that s,ah ,rS
.,oh house. snsnected ~ having srnIiation.
with certain prominent interests. are heavy
buyers presumably On oloers from th,s
source or thht. &c NopUuy VINO l'Sh ,,
seen " can reai'"e III" hea''lS some men WIN
operate on impulse, OF mere huhch that
they get from the tape' or UP IRON some
where. ! sho'lia say unat piopaoiy iour-
ffths OF miscellaneous specuiatlon Is con,
Quoted without rr'tiea1 reference 10 actual
values or cohoitiohs
-, ,.,
Inc peop,e arc mo- h"n,.. up WIN M s.oo ,.
II .ho .oe. .,'s,,.n oor,no.iso pn'
W were no. u.i ,,.i.h thesa tSa. " ,Dtna
uitohs no" " XVI, smosS NAV ,on, ~
al the ne,sn, VI Wv, ,nrrnho,a.t,, -. ,;
wouia tG,hisn aounu .sia 'T ,n. ,h s e.
oenoo ihere 70 nu.. IN W.. W., e ..ne.
eho.e,nehs u ,nnan,,,, ,has .ho &C..
OF eisewne a,,ina senon,atiq,s ro,.i',ot
syhptohs rSn u,hI;o.a r,art,o;n,t,o,
"eIo mann 49, tai.,, - S.n,,",t,.n
UP 70 'he po'us .aS s.n.irn .a,,Iatia ",
Il