New-York tribune., 1908-02-21
WHITE BEHIND THRONE E
ANOTHER BIG BOND COUP.
postage Stamp Bidder" Back of
Boston Concern.
TBy Telegraph to The Tribune. ]

Boston, Feb 20--Abrahan White, the postage
stamp bidder, is the man behind the throne who
profited by the Baldwin brothers coup, whereby
they got approximately 100000 of the recent
issue of New York City bonds at average
cost of 104 making net profit at present esti-
mated at S126, 900.
White came over to Boston to-day and took
part in meeting of the stockholders Of the
Massachusetts Loan and Guaranty Company,
which certified the S16S000 certified check of
Charles "A. Baldwin and W. A Baldwin and S.
L. Tingley and A. E. Reid. in whose name the
allotment was made. Incidentally, White was
elected president of the company.
White is iubilant at his latest coup. 1t makes
the sixth of the kind that he has pulled off since
the day twelve years ago, when telegraph
| operator he took advantage of a message he
heard going the wires and by the invest
! naent of A cents in postage got allotment OF
| 81 500 600 United States bonds that netted him
| S2OO.O 900
| II had to play dead secret Mr.. White said
| tonight. explaining the way the coup had been
| pulled off Last year I bid for New York
| bonds and sent in a certified check for SS0OOoo
Those fellows have barred me from everything.
| and just because I didn't happen to have the
| cash when the check came in they threw out
my bid.
! so this time played safe. 1 bought up this
| little company over here and had the Baldwin
Brothers and Tingley & Reid do the bidding for
| me. We kept it mighty quiet and everything
went through with flying colors- At the very
finish we did have a narrow escape, though.
| The bids were opened on Friday evening, and
| as I knew there would be a thousand bidders or
/ more. I figured we would have until Monday
| night or Tuesday TO make good on the certified
check. Saturday night at midnight l got tip
! that Metz would ask for the cash early Monday
! ba1t do rail-
| bullion brokers of New York helped me out, and
| between US We managed TO buy up enough Boston
| exchange Sunday 10 fix it up. My secretary
| went over to Boston the same train that car
| ried the check and when the check came in on
| Monday morning at 9 O'Clock he beat them to
| the office ~ five minutes with the cash.
Abraham White was in Boston Yesterday but at
| his office No. - Broadway. his secretary con-
/ frmed the report that he had used the Massachu-
setts concern for getting large block or the new
| bonds The capital stock Of this concern has been
increased from $4,000 to $2500o0, and A Z. Reid
/ and Stephen L. Tingley who were White direct
| representatives in making the bids have gone into
| the board with him. Charles A. Baldwin remains
! as treasurer OF the company and Mr. Whites pri-
! vate secretary becomes its secretary
Whites exploits bidder at bond sales are
pretty familiar to the public His greatest stroke
was the securing in 1896 Of the allotment Of gov
/ ernrnent bonds, which he promptly disposed OF al
heavy prOnt Last september LS dItAaCCSO SO+Iio
attention by his bid for the entire s4o.0o0,o0O of
/ bonds then offered by the city fo7 subscription
| This bid. the figures Of which were high enough 10
| insure to him awarding of large part Of the
issue was thrown out because Of objections to the
| securities company upon which the accompanying
| check was drawn. Whites secretary said yester-
| day afternoon;
That was deal they gave Mr.. White last
| Septenlber, "A very deal This stroke goes
| good way toward making up for It Mr. White
L
| took over TO Boston cash and Boston exchange TO
| the amount of 5000, and when at o'clock on
Monday morning the National ShawmUt Bank
| vice-president presented the drafts for payment
! he got his money. Has Mr.. White disposed Of all
of the bonds vet? Well. il you to mention II,
| Mr. White hasn't sold dollars worth, and on
! the other hand, has bought more bonds since the
| award was made.