The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-02-07
RI !. H J. ], 4 J 4! J. DS'
500 Line STOCK
CREATES COMMENT
NEW works. sEMIPRoFEssIoNAL
TRADERS ARE SHY.
Glass It as Blind Pool Stock" Be
cause They Do Not Know the People
Who Pull the Strings Toronto Was
Once q Heavy Holder.
Special to The Journal.

Special TO The Journal.
New York, Feb. THE spectacular
trading in 500 line common stock has
been much talked Of in Wall street
Offices. There has been no disposition
to follow it, most of the semiproefess-
pool stock because they don It know
the people who pull the strings.
One broker, who has known the stock
for many years, but has never done
much in it, says: "Many years ago
an attempt was made to make the stock
popular here. A considerable block of
it was brought here from the west and
was distributed by a pool at good prof
it's. That stock stayed around here at
ing much Of following until it was
picked up on Toronto orders about four
years ago. It all went north and stayed
there Tor year or 50. In the mean
time the spectators who bought it de-
cided every few weeks that it was time
to pay dividend. The public got tired
listening to talk Of dividends that
never came.
;n mThe \ the he, trouble began again: The III
! ronto collapse did. So the stock was
| sold. Then the dividends came along,
| and they looked pretty good. In fact,
| the people who know the property best
are trying to tell me that the stock
| is worth 125 and will certainly 90 there.
I. don It just see it. They may be all
right, l have no doubt that the pool
and its friends will make some money
ON the thing, but I am not in the pool. -
This about expresses the views Of
the street at large. The other side Of
Tribune and the Wall Street Daily
News, which consistently boom 500 line
stocks and a few other things in sea-
son and out. One Of these financial
authorities is the fldus Achates of 500
line stocks in Wall street. IT the
weather is very bad it is reported that
the 500 line has not been badly injured,
because the water is always heated be;
fore it goes into the boilers-and,
weather is open, it appears daily that
the. 500 line trains are running on time
and everything il lovely. Consequent.
ly, 500 line Is making all kinds of
money all the time; and dividends will
certainly be Increased. Invidious com,
PARSONS are drawn between 500 line
preferred and st. Paul common, in the
which it appears that, after all, the
anyway, while the 500 line is an un
common carrier.
circular on 500 line, and certain prom
inent ex-congressman, are the chronic
bulls on the stock just now. The lat
ter Is always a bull, whether he is sell
ing stocks or just getting ready to sci
them. He has made a good-sized for
tune In this stock and Canadian Pa
cifc In the past three years, and wa
prominent as the New York end Of tn,
famous Montreal pool in. the latte
| stock when it advanced from 10 t,
l35; Herrick Berg 8 Co., an old ant
Well-hked firm, are very cheerful owe
9 the prospects. They disclaim any con
nection with the speculative operation
and say they advised their customer
to get in because they had made care
full study and had become convinced O
the merits Of it. Their word is wort
good deal, and they have probabl,
attracted little public interest to tn
stock.