The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-08-20

thai he had gone to the National Reserve
Bank with Mr. RE" and that 'hs people
Their. had declared that every check
would 10 certified this morning Mr.
Rphnsou admitted ht'la reluctantly
that ~ an ALTERNATIVE" Ch"Cks might be-
Thought to HIM. hut n" insisted that there
was no n.,.e,,si ~ for such n course. ~ the
tank would NOT rrtu-''
II L. Ia" custom ~ brokers WHOSE
NON" to- formidable resources demand
tl,t tho checks they r'.ceive sach day
10. tunnel mt the equivalent u cash
~ ,,.rtIt,dtInu. to send their boys q
'I" hauA ON which m" check IL drawn
90 thu purI,us" They don't get the
,.-r b-vtuS" they h"-It1t" q burden
il,Ur brvr with IN" actual Stul
In the rDrridur- putEid" Strn"ham =
ofic'- were men wkr st'"d idly dipping
t.,Ir fingers ACROSS their rh"aN"N NJ
,n,-rk- On" sand he had enough o. make
!u g. ltu and another had about a quarter
81 t.at amount som" one els" had about
s. r-s, N" curious pJrt NJ II was that
IN. numbers uf these cheeks vari'-f hv
tW, hundred Whether the hits = pIp"r
which WEI" stirring M ali thus rumpur
rau crn-,Cg'lvrlv as Ear ~ that Was one
81 IN" things that interested students
e. this phenomenon 30 curb hiarC"
M cours" a great many ch'ck- would
have q b'' i-~i!si - max" ny "nNthi'F
like the total rumDr'si. fnr the purchar"
Iri,.' Of even q laTg" hlO"k 81 Curt ~ Cas-
would not u" great
frnm Stunchafn'- Offices tn" anxious
ou,~ huCtuit,si hack t. SCh"it"i~ IN"
large man had withdrawn from IN" door
for the waiting chorus without hai de-
ple,.i and those who p"-ter'st f1r adj
mitttnC. were fewer. few enough, IN
fact for the Sp'srial Policeman
The word cam" out that S'hcft"l
and RE" wer" preparing statement
Just now their one. b,.st ii'si il Elv Central
The paU.r IT which la'" - the tsiltor,
the NirIng Financial N'Ts. has he''n
expecting something hiR IN thIS stock
for long time it, i--V" II la-t week
has leading article headst -tlv central
Within 4 bow Iluur- IL hug Discovery
And in IA" up-nrng paragraph II story
datai from tlv, August Il. 'ion"raI
Manager l.'-o GluCkuer II quotsSi ~ saw
ing We should get IN" contIuuation
Of the hig ore body Il the steam shovel
DIT - the Nevada Consolidated IN I'll"
cruss cat Of tn" Eureka workings At any
moment Tn. Ii,., was gained yeSter-
dav that this excitement about IN" checks
was attributed by tn" firm q mean tnst
a lot of yvuplr wer" enNInuS 81 AL tins
imminent prosperity and wore trying
q beat down IN" stock by dumping u
on the curb and getting the hous" ~ bad
nv their demonstration That thought
seemed e. b." contained m the stItrnent
by Rice and Scheft"ls Herr u -
Tha statement that the ofi,"- NJ this
COMPANY Ner" crowded today hv brokers
trNtug 20 make deliveries ~ stock and
collie, ting MONEY therefor - without fuun-
dAtIcu no la,t In the usual course of bust
n.s- there wore -',uritI-- To tho extent
al many thousands OF dollars delivered
and ,h-,k- Ir paN'u~rt ISSUED therefor
\ ,uuue Of -fo,N brokers vhH htN" been
operating tor decline ~ % Croup Of stock.
To- wh.,h ~ are Interested circulated a
rumor 20 me effect that Nc were slow IN
taking up the securities ~ a result there
su-tIst a rush 'n 'rrtii" al. outstanding
checks Ouc 90 the BANKS with whom
w. are doing business and on whom 'hrse
,hsrk- are traNu certified .u'N Ju. which
was thirty minutes after the customary
hour Ih.n they -'opp.si They could
have -topp..d according TO custom thirty
minutes earlier had they Olshed
Thinking there might ps-- bly, be
mistake 10 our account with this bank Ne
called Vn ne. vice. president nc I O'clock
and Ne gave ~ a statement. -EUN NJ that
there Na- both q ash ,r-di' and . credit
on outstanding Collections amounting 10
thoIs iuts o. dollars ~ "N,">- of al out
siari,n. ,ac.t- " took vl'h g- - rep
ressutAi'vs %! noted brokerage firm
ami after hearing whtt the Nl'~-pTr-Id-nt
bad 20 -aN ana after eNtm.n'ng oar h'-
counts the 'rm m question Immediately
offered 90 cash any 'hr,A anybody had
with oar nam" attached 20 D.
10 slN" :,r idea 80 ms uneAsine--
Il j. only Necessary TO stat" that ihcr" -
very hrge short interest IN one 81 'h"
l--uc- nI'L which We are Identified amt
this issue represents property regarding
which the officials announced On saturday
that ~ was uu The ~" Of opening up a great
ore body Uhi'h would quadruple - yalu"
when ms happens Oh the property the
stock No. question will multiply IN Va! Ne
s. oop 6sp 81 ~ o,o So and ~" shorts would
ne,s--trllv -uNcT great ius-
We have teen ~ uu-Iu'-- 10 chicago
since lnnc and IN New YORK. -,n'" jauuar' .
1919 car a,'lNi'f-- on ia" stree hay" ap-
par-ut.y i.seu OF such 'uu-"gu"",r that
men ere compelled 20 20 ~ cN'r"m"- 20
accomplish their -ortd purp.-s'-