The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-11
TEMPERED BY LOSS
IS WALL STREET
Nervous Traders Waiting for the
Return Of the Big
Men.

Special to The Journal .} x
New York, March l0.-The story
widely exploited that 81. II. Rogers has
skilfully 1ured Heinze into trap by
subsequently breaking the market and
forcing private settlement with the
Butte copper man at, 95 for 100000
shares, is not believed in well formed
circles. One Of the largest houses In
the street purchased several Thousand
shares Of Amalgamated for friend of
Heinze's at around III, being told that
direction Of Heinze. The stock was
subsequently sold on, the rise to 1lS. 1t
hardly seems reasonable to suppose that
Heinze would tell friend to sell out
and at the same time hold on to his
own stock. His past record has GER
tainly not been of a kind to credit the
story that he had been overreached by
ii. III. Rogers at this late hour.
In the recent iquidating movement
! IN the stock market some large specu-
lattve lines were uncovered, causing de-
chnes in number of prominent spe-
cialties, notably the Hin and Guggen-
! holm groups. Public utilities felt de-
eaed Fss't1PPg b the
/ to get on the nerves of Wall street.
/ While undoubtedly, the bear party has
shown itself aggressively inclined,
some of the heavy trading was plainly
produced by forced realizing, sugges-
tive Of unloading ON the part Of FRIGHT
+ ened speoulators oppressed with the
/ call money rate with sympathetic firm
! ness In time money, was not viewed
with equanimity by market plungers
!, still carrying large lines Of stock in
J the hope Of ultimately seeing renewal
; Of the bull movement. Altho the mar
/ ket has recovered partly, on covering
! by the short interest, there is still no
I and bull cliques. r. -
Commlssion-house@ business has been
4 practically a negligible factor since the
! forced exit Of the public at the culmi-
nation Of the January boom, and there
is little Indication Of any early change
in this respect. There is limit to the
capabihty of millionaire plungers in
llevel-this limit being found in the
money situation. with many leaders
1 away on, their vacations, the situation
lis rendered the more difficult Appar-
entlysa large number Of those recently
| operating on the bull side reversed their
positions, the openly expressed views
notWithstand With SO much agi-
tatlon against corporations, railroads
and otherwise, rejecting the pervading
spirit Of unrest, 1t is hardly to be won,
dered att that even those Temperament
tally optimistic are at present talking
conservatism. This leaves the stock
have no decided preferences either to-
ward the bear or bull side.
The great movement Of the Hill
stocks was not made by smaIl-margin
operators, but by very large interests.
Therefore, it is behind the scenes that
events are taking place which deter
mine the great fluctuations, and as the,
general public cannot follow the inside
deyeiopments, these stocks are likely
TO be left alone by the prudent opera
tors on moderate margins,
Without giving full credence to some
ct the sensational e stories Of the week
It may be said that the conduct Of the
speculation has been suggestive Of some
lack Of harmony detrimental to q CON
ddential SPECULATION. But if friction
has existed its possibility Of damage
has certainly been lessened by such de-
chnea as those of 16 points in ST. Paul
wars Of Wall street are conducted when
outside circumstance are conducive to
thesssuccess Of reprisals in the stock
market. In present circumstances
there must be q limit to speculative
contests IN the face Of the ma nifcent
AAo0 s0<1A4lAuSo VILLA ID 3ktouGlluS 6Il0
northwestern stocks that have been
specially prominent, in common with
the entire transportation system Of the
country.
~ cannot believe that we are in for
any prolonged. bear. campaign re-
marked a member of q prominent Wall
street house the other day. GAS mat
ter of fact, the liquidation has been
largely In q few specialties which were
advanced beyond reason. Now that the
people have caught the selling mania,
the decline may continue, since the
swing of the pendulum is usually fur
ther than conditions warrant, At the
same time It should not be forgotten
that when the big fellows return they
have ammunition at hand for another
upward movement; Thus, dividends
could be inaugurated in Southern Pa.
eifc, with possibly an increase in a
Stanley schroff