The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-07-28

'.'. lfttH''N = lsAi'h' GIVING Nfe' fAlFuall-
% 'as,. ari .ap,tIl stock
v,a,.r 81, .am S,SSH
..., ,,,u. ,.-, spa s'.s',s'
.ro nv ,ri 10 oap4, can SSS%
90 'a.pr - oUE~l hy p-nNr
roa .r. s.stuoU,
.lI-t h,N ta' tnn .yudr,It- got alpnl
u th NJ purchases ,ruld not h+ l-iru,s
Yesterday NV that the bulk IT 49,
% itpg- have h'.'u Transferred al prrvaI,
al" the '.NI.uI OF fi, uI,-rut lHu- may
never o.. q" ,a,il,- 90 lpg,rp Nimat.lv known
bgt - f- N'.Wr iLtt 10 buught heavily
Utu Wabash ard h,siNtlv mt, Missouri
PdrI', h"'ur'' - operations ','I-.Si
U-.rinp.. with th' turn ~ the market "a
tie ,.irl' Iart 81 ih'. year and the con
-'s'u'Ut -t''1aIlT uuyr"i- .uE dISin' lInat luI.
.i unN"-trr- - - heavily INT railroad
--7.urltI''~ E'.l ,r.WflhCui'yt legal and
political IgHull'tu- were -'''tl'Si Ia ben
N.'r. a banker familiar with many IT the
circumstances --i'i Yesterday. m" InN'-;
m"ut "dS not ai all - heavy 40 IN the
o'her-
The Canadians and iugli-hm-u assu-
tts,l with pr pvar-pu lu ms enterprises
fhs bankers Who 'unk over the securities
'T representative 1T Dr. Pearson dis
clos" their name. Yesterday The doctor
'uns.li lett M New prk headquarters
~ - Broad street fur hiS summer hOm.
- Great Darlington Mass a. Spnn ~
rho arrangements With Kuhn. Iueh 4 Co
Wer" Cumplrtsi IT, hi~ MSNvan aud
south american ventures there hnV"
Ipp-ar,-l ~ ~ P"ar-nu- uH-rCIats.-
such prominent men AZ SIR William Van
III "a -
tore ~ th, Canadian Pacific. william
Mackenzie. u'.r ut the builders ~ IN"
canadian Northern. and. like Sir llham
Van Horne one ut IN" greatest railroad
constructors IN canada the Hon g \
COX ana Sir ~ VI psllatt 80 Toronto.
\ l-,sh, n 4 and many other Iana-
tiAns, io'U Gl,al and Edward Gu-l.
l-nsc Il Parl~. v NsrStriSt II At Bru--
-sls. n VI Hubbard and u VI Horne
Payne of London ami many other Ping
t-hmen
The holdings Of rh,. syndicate though
probably representing an investment
of at least SSnUo.ssi. were seemingly
aurbly protected IA the early part at the
year Stocks and bonds at a." zyndA-
cat. We're widely pledged on loans made
nv bankers ~ TINS city and London.
nat the margin on th--.. loans -..-mrti
to b" sufficiently WIDE Ia provide for any
hut abnormal and rNtraortinarN huCttIa
tons ~ the --'urity markets. Hut
prOr 10 three weeks ago 49, constant
had h@cn the decline IA the. security mar
kats that Rock Island common had gone
down 20 points and thu preferred u
points from Tia" prices early IA the wear
There were losses ~ NOR than ~ points
IA lehIEh valley, of - POINTS IN Wabash
common and ~ points IN Wabash pre-
t-rrri and 1T 10 points IN Missouri Pacific
II seems to have, l-.sn about that time
that IN" banks h-gan looking for addi-
tional collateral and that the loans t,.-
cam" insecure N any rat. the syndi-
eat" n"Ran tn cut down Its holdings
he market wac had one ON which TO
rlaoe stocks like IN" Rock Island Wabash
and Missouri Pacific is-u-s. all Of them
~took- that pay no Al vidends. and money
WaS Ur-t rat-.'d by m" sale ~ big blocks
- IN" IhCag" Rock Island and Pacific
Railroad collateral trust bonds In the |
Cpurs' 81 the liquidation 81 thes@. which |
ended about two weeks ago and which !
n.u further unssttl,.d the security mar
kstS the bonds declined about Is points |
n Inch T. an Extraordinary loss for "a bond !
and % - SHOWN that "A block Of 81 JO1.US I
OF them wa- taken over ~ private trans |
fer After tins TRANSACTION most of th. |
partie- Interested felt themselves secur. /
IA the rect ~ th 'ir holdings
tor ~"aron that has not b''-n explain .
and NAV hdN- been nothing NOR. than ,
b" a"'r"0 ~ tanks N strengthening Z
"s-sar'"- ~ "allI1E loafs on non dividend !
mon last V""s rdouht.-ilv IT. mem
n~rs could nav" rutr-hailcd resources 3
: !'fi,t-r' o. 'u"''i N" call. for neither /
br P.u-'u nor any 81 hls associates
= ""ns''i"r''i 80 -" -arIouSly crippled
'Ur t'" -Nrdirat. - = whole was IN
'lilnE - r"-p"ud ~ 80 least did not I
..srnu!
The saIGcl ,.ls ~..~n m IN. STOCK market
~ NouiaV and thursday particularly ON
1u"-dar Blocks ~ Rock island pre-
'err'd and Missouri ia"lfi" dumuad INTO
'hs market -'n' these stocks fumhluc
down ten ~ NOR" point. .ach Blo,Hz
~ I.ah Eh valley suddenly pT.rai for
-sie r Philadelphia d"fuura s.-i thar
market aud further 'F"rirCS ~ various
Eiocks 10. Vhrrh Tho -vndIra'n vas inter
e@ied throw ~" N"N Work. market INTO
he most dssJ"rA'D ooufii-ipr " a YEAR
~ n'auN 'uuh.-'St markers ~ ne. low
poin's IN Ius-iay -VuIloH'" stock- com
"a rod a. follows With m" hugh prire= 81
10 year Ro,N lslaud common. ~. a.
compared VIII 81. Rock Island pr.
'errad rrlrst.s,i 81 o. Wabash common
-, Ir-taaI ~ -, Wabash ura'arr~i
- instead - ~. Missouri ra-rHr ~
Iu-tssf ~ "a.
Anorh-r -.-lu.l ~ IN. TRANSACTION Sa-
seen "a no. market YESTERDAY ~h.n IN.
An'Ir. market r"npundei no aliug.'h..r
he most vigorous rtllv uf 'h.. wear a. a
-as,il' 81 tho settlement e IN. dIffirIlfv
Md the removal of N" ,lo4d 1T 'Iguiratipn .
= hiCh 10 : '"FI over 49, IN" market .
\'ust of m" -vtIduat" -t""xs. togeth her
WITH all ID" .'h"r- shot sharply upward
- result ~ Tho. iur' 4uHt.. SGT larn.u'
= an unfortunate and very lk"ly un-
'r~ce1eT ~ situation Aviar"ntlN Lon
Tor hSi N" meas hr-i foi LONDON bought
,t1Dk- very h-a Nv "a thus market Sh.ri
.~snIlugly every On" her" was m rush
u cell them IN Tuesday aud London
toughi even NOR" h.'aNIiN m III" early J
= sdiug Yesterday It, purchases tor
h" tSp dav- W"r" estimated a. NOR"
han iinUsI -nar"- London hank .rI
90" iuf"re-iei IA the set l"rn"nt and
Jruipn investors may hay. got th. all
am" Information through them
Ia" sNudicat" winch has taNru over
10 holdings comprises ~ addition to
= Vhu. ID''b \ 60 strong and repre- /
london banking bo,i-..- |
NhTpad A. yell a. here. m" securities
ave b.-..r tas"u INTO stronger hands
hen held them previously Their" H. IrDt
b" slightest i.u-- IhIlIty 81 th,.ir being
.f"r'-i Iluu th" war-"t Tn" trans
.nt. pu - 49, incident "ntIr'.lv po-.-I a.
~ - m" stock market ~ runr-rn,4i
~ r..-ul' - IA" rrd'Si' Kuhn. Loeb
L.