The Savannah morning news., 1904-01-17

New York, Jan. 16.-The cheapness
If money both on time and on call in
Wall street since the first Of the year
has greatly stimulated manipulation
nj lefty order, largely by inside in
forests themselves. There are times
when no regular means for making d
little money is despised in the finan-
cial community here. Prominent
banking houses that would have
sc6rned a year or so ago to be identi-
fed with anything of less magnitude
than a $4,000, 900 promotion are now
glad enough to turn a thousand shares
of stock in a profit of 2 points in the
market thereby placing themselves on
level with the floor trading element.
Not one but dozen of the biggest
banking houses in the street have
been operating in the market on
scalping basis. Manipulation of this
character is prolific with rumors
which are in effect to-day and forgot
ten tomorrow. A banking house,
whose reputation is world wide and
which perhaps, it will be unnecessary
TO call by name, has been trading in
and out of Steel preferred for weeks
and weeks, buying the stock on the
declines and selling it on the adj
vances Traders see such buying,
think it is good and follow and are
landed with the stocks. Again they
see selling that emanates from high
sources and follow that, only to get
short of stocks at the lower prices
They, of course, buy them back on
the advances of 1 or 2 per cent. and
stand the loss. Add to manipulation
of the character above described the
daily swapping of stocks between
traders and you have about all there
is to the present stock market. There
is no outside public to speak of and
all the commission brokers in the
street are complaining of the poor
state of business. 1t is the opinion
Of some of the best observers that we
shall have merely a trading market
for some time to come. The year is
full of uncertainties and unsettling
factors. There is the Northern Sc
CuritieS decision to come within the
next three weeks and that will hardly
be out of the way before the crop out
look will begin to figure in specula-
tive calculations. National politics
will become a factor at about the time
the critical crop period arrives. Be
sides these incidents there is the still
question whether the
picking up of business during the last
two weeks is merely a rally in bear
or the beginning of a gen
uine bull movement. The crops this
wear will be of greater financial inn
portance than they were last year.
The depression so far has been%con-
fined largely to the East, the West
and South, thanks to an abundant
agricultural outturn last year and the
high prices prevailing for the pro-
ducts of the soil, being more prosper
GUS than ever before known. Poor
crops this coming season will very
probably result in a rapid spread of
the depression in the West.
The passing of ]. c.. Osgood from
the control of the Colorado Fuel and
Iron Company has been followed by
singular series of tragedies and
mystery which the people of Colorado
are seeking in vain to unravel. Soon
after the property passed into the
hands of the Rockefellers and Goulds,
]. l.. Jerome, one of Osgood's close
friends and business associates, began
suit against him for the recovery of
a large sum of money, charging also
bad Gaith on the part of Osgood. The
papers in the case were suppressed at
the time and a great deal of curiosity
was felt as to the details of the
charges brought by the complainant
against Osgood. In this connection it
may be stated that ]. c. Osgood, A.
c. Cass, J. A. Kebler and ]. L. Je-
rome formed a group who have been
conspicuous for many years in the in
dustrial development of Colorado
They were a close corporation. Keb-
Ter became president of the, Colorado
Fuel and Iron Company and Jerome
was treasurer of the corporation. Os-
good, being chairman of the board of
directors and virtual dictator. 1t was
charged by Jerome, Case and Kebler
that Osgood threw them down in the
final act and Kebler and Case were
TO furnish the testimony on behalf of
Jerome against their former partner
OsgOod. About five months ago Cass
died, Kebler went the same way two
or three months later, and about six
weeks ago Jerome went to his death
under circumstances which gave rise
% more than a supicion OF suicide.
The family denied the suicide story,
out when the dead man was found he
neld a sponge saturated with chloro-
form pressed against his nostrils with
rigid fingers. From Osgood's offices
came the remark that it was good
thlng Jerome had killed himself, as he
hhad brought trouble on himself by
ms suit against the former head of
me Colorado Fuel and Iron Company.
since the death of the three men, Je-
rome, Case and Kebler, the papers in
we Jerome case against Osgood have
sxiysteriously disappeared from the
mes and as the defendant is keeping
ms mouth tightly shut in regard to
'ne matter, it seems likely that the