Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-02-27

Quoting his publicity campaign against
the merger that he has lined up behind
him 6,Jo0 out of the GEO stockholders in
the company. The 100 stockholders or
thereabout who are in the Guggenheim
camp claim to have a majority of the
stock. but this claim is not believed to
hold water. They probably have about
S0OOOO shares out of the 2OOOOO0 shares
which compose the entire capitalization.
The time limit for the deposit Of stock
for the merger expires March = and un-
less the Guggenhems get a majority the
deal will fall through.
AS the time approaches for a decision
interest in the outcome increases, and
the result will be awaited with undis-
glised interest by an immense number of
people who have been attracted by the
most unusual spectacle of multi,
millionaireS engaging I'm hand-to-hand
battle over fifty million-dollar mine
and doing their fighting out in the open.
1t is really interesting situation. 1t
has little bearing, however. on the larger
copper merger, upon which the Morgan
and Standard Oil interests are quietly
at work and doing their best to put
through at the proper time Mr.. Phillips
seems to have very much the best of the
fight so far. and he is undoubtedly en-
joying the time of his life. On the other
hand. most of the Guggenheims and their
important allies have taken to the high
grass. They have scattered to Europe
Palm Beach and Los Angeles.
Crime in Wall Street.
The authorities of the stock exchange
have driven another victim into the
locking Coal and Iron goat pasture.
They have exiled another member of
the stock exchange and debarred him
from membership in that association of
financial saints known as the New York
Stock Exchange. The latest victim, like
unto the first one. is debarred from fell
lowship on the stock exchange for hav-
ing committed the crime of trying to
do too much business on too small CAPT
tai. This is becoming high crime on
the stock exchange, especially when an
explosion results from everyday and too
much attention is attracted TO the ex-
change by reason thereof.
Thus far none of the members openly
accused Of "welshing'' on their pool
agreements with the two failed firms has
been disciplined, and the indications are
that they will escape entirely. At the
hardest they may receive a warning not
to do 1t again. Meantime the two-dollar
brokers on the exchange who handle the
orders for the big houses are in a
quandary. Their means of livelihood is
derived mainly from the execution of
these orders, yet if they are to be no
longer protected their membership will
be jeopardized any time they fill large
orders. AS rule. most OF them have
little besides their membership, and if
their customers get into the habit Of
'welshing'' whenever transactions show
big loss the lot of the little broker will
surely be a hard one. Heretofore the
bulk of the "welshing'' on the stock ex-
change has been against the outsiders.
and it will be a new departure for the
exchange authorities to encourage the
practice as between the members them
selves.
Judge Gary, chairman Of the steel
trust, is preparing to storm New York S
400 by building one-million-dollar man
sion on 5th avenue. The social cam
paigns of the Garys have heretofore
been directed from nty-five-thousand
dollar-a-year quarters in the Waldorf
Astoria.