Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-07-16

ago Reading common sold for 81 a share
less than nothing; that is to say, that it
was quoted at So a share with S12 assess
ment tackled on. But after all, the per
formance in Reading is less remarkab BILE this
year than that of American Shelters which
went up in less than twelve months from
$40 to better than $12O. Reading was
twenty years building and getting ready
for the start. whereas Shelters made the
jump almost without any preparation, or
at least. without previous public education
as to the merits Of the property.
X
Since the first of the year foreign holdings
Of American railroad stock have been great
~ reduced. New York Central holdings
abroad have been whitfield down from SO
to per cent, Louisville and Nashville shows
drop of &c per cent in the foreign inter-
est and Illinois Central, which year ago
was really owned on the other side, records
transfer to America of at least 40 per
cent of the share capital There has also
been resale of foreign-held shares in the
steel companies for large amounts.
The market for Brooklyn Rapid Transit
has been given to Mr.. James r. Keene, &C.
cording to report current in certain ex-
ceptlonally well-informed banking offices.
Mr. keene is one of the large individual
holders of Brooklyn Rapid, CHASING in that
respect with H. II. Porter, Anthony Brady,
E. H. Hartman Norman B. Ream, E. w.
Berwind, II. c. Prick and August Belmont,
oif. tNecHe uiu HOT Always tnlnk as Well OF
the Brooklyn Rapid as he does now. Time
was when he clashed with the controlling
interests. and when Governor Flower ran
his famous deal the Wizard" fought the
market all the way up and rode ii down
from 135 to 80. He bought at the bottom
at that time. and has stubbornly hung to a
big block of the certificates from that day
to this. One of the things which makes the
big owners of the Brooklyn Rapid bullish
on the property is knowledge that a
price far above current quotations has been
offered for controlling interest. This Of
Ter. which still holds good. was for and In
behalf OF the Pennsylvania railroad. Reply
has been made to repeated overtures from
that quarter that control could only be
bought in the open market. that before a
majority of the shares could be secured
buyers would have to go way above par.
The Pennsylvania party has not despaired
OF getting control of the great Brooklyn
system, and for months and through vari-
Gus channels has been picking up stock.
Several notable Wall street campaigns have
been conducted in Brooklyn Rapid but by
common consent the Flower deal overshad-
owed all the rest. 1t was in that famous
movement that SO many newspaper men
made fortunes. Wall street reporters and
representatives of the slips were all let
In on the deal. Not a few of them devel-
oped into plungers. and instances are men,
toned where the especially nervy ones ran
up profits from $4,000 to $4,000 Some of
the lucky quilts quit In time and got away
with their profits. great majority fol-
lowed the death of Governor Flower. Near
ly all kept their accounts in his Office
where they could be close to the seat of
authority and the source of market infor-
nation on the ups and downs of the fav-
orite stock. Those were great days for the
fraternity. Wine was the tipple. Extra
dry and canvas back took the place of the
frugal beer and sandwich One fortunate
member of the guild bought himself a
yacht and amused himself chasing up and
down tho Hudson and around the bay try
ing to make much noise as j. p Nor
gan with his Corsair. When the crash
came the yacht went into the discard along
with the other journalistic assets