Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1911-09-30
MARKET CLIQUE
MAKES BIG GAIN
INSIDE INFORMATION ENABLES
LEADERS TO SELL MARKET
SHORT WITH PROFIT.
WHIPSAW LITTLE MEN
Henry Frick is Reported to Have
Cleaned up 100000 in Recent
Slump; Gates Estate One Of
the Gamers.

days at least $40, 100000 out of total
shrinkaga in stool. values Of $25O, GOO, :
600 have been coined for relatively
! small number of lien in the wall
4 street district, en- ire market reason
4 that the financial leaders do not know
/, what will he done by the federal gov
eminent to the United States Steel
1 corporations. Prior to The bear raids OF
/ the last three or four days millions
I upon millions have been made since
January by the same coterie of trad
ing interests.
! The tin;.rcial district now KNOWS
/ that good part Of these enormous
| winnings has gone into the pockets OF
| less than score of big operators. IL
| IS certain that the S72.392 real stock
| holders in the big corporations We're
not the profit takers and that men VINO
| sold short what they cid not possess
really reaped the harvest at the ex-
pense Of the real owners OF tne o STOCKS
Believe Friek Made $1o,00o,ooo.
| Henry O. Frick has been credited
with realizing s1O,u00,00O profit in the
| DEAL
| AS a curious feature Of the situation.
John W. Gates, although dead, figured
| in the recent market developments. H3
| left to his estate $4,000 shares of Steer
stock. sold short Of tie market at So
| just one eighth of point under the
high mark Of the year. which was
made Feb. s. The estates profit on this
transaction have already reached
nearly 100000.
Spectators and captains of indus
try, bankers and even some gentlemen
of standing in washington are repor.
ed big winners In the 1911 downward
dip in stock prices.
In 1908 J. Pierpont Morgan held the
bag when the big slump occurred; in
1907 the Standard Oil crowd and the
late Henry II. Rogers and Edward 81.
Hartman We're caught mapping, but
this year from all accounts, 1t is the
dear public which is principally long
on the stocks Of the railroads and lead
ing industrials.
Small Investors Real Owners.
That che great corporations are
owned, not by the captains Of industry.
but by tho 1O0-share investors-the
owners Of $4,000 worth OF stock each
Is shown by these figures, compiled
late in July by a prominent Wall street
authority:
shares share
capitalization. outstanding. holders
1sO1-s5.55s ,275,31s bc,254,sss 22e.4so
1906 7,3S23,147,307 s6,630,251 394.S42
1911 s,9a7,347,426 110.426,197 s72,392
Official Wall street has seen the big
slump coming for more than year.
The decisions Of the United States SUI
preme court in the Standard Oil and
Stanley committee Investigating the !
Steel corporation adjourned weeks |
ago. Many of the important insiders |
were aware Of the gathering storm and |
aided in concealing the truth by is
suing tho most optimistic interviews.
Bio Mon All Go "short."
It follows that some very handsome |
Noe $oI
G.. Prick, the f1nancier is said to have |
cleaned ap anywhere from $10,000,O09 |
to $4,000, 900 since the first of the year.
William Rockefeller. brother of the oil |
king, is credited with having made g
like sum ir association with Mr.. Friclk, |
while Nj. Rockefeller's two promising |
sons, William G. and Percy, are said to
have made over $5,000.000 each trading |
on the short side of the market.
Edwin Hawley. the little Harri- |
man." has been raiding his own stocks
on the profits made from short sales
against the leading market tumblers,
while a newcomer in Wall street. !
Adolph ]. Lichtstern, Chicago wheat
Spectator, is credited with having |
made between S5,00o.c00 and 100000 |
since the slump set in.
United States Senator Takes Winnings |
The winnings Of Daniel G.. Reid the |
tin plate magnate and inveterate bear, |
are not nearly as great as was at first
believed. for the reason Mr.. Reid re-
manned IN Paris too long. That he has
been on top Of the market for seven
figures is toyously admitted by his
friends and Mr.. Reid Is still on the
war path. A certain United States
senator is known to have sold 10000 |
sha res of Steel common at TO- and it |
was covered only yesterday.
A group of shrewd gentlemen head |
ed by william E. Corey, the former |
president Of the Steel corporation, and |
including r. c. Converse. the banker |
and Ambrose Mcneil. the nickel king, |
is reported to have profited from So
100000 TO s10,O00,000 by the decline in
stocks. |
Gates Saw Slump Coming.
Others who are reported to have won |
well In the falling market are Otto !
Kahn. the banker; Eugene Scales. the
cotton plunger: Joe Gaitens of Atlanta,
Ca; Bernard Baruch. the broker; Geo.
w. Perkins, the former partner Of J.
Pierpont Morgan; George Blumenthal,
associated with Lazard Freres: George
F. Baker, the Morgan banker: James
Stillman. the Rockefeller banker and
a score of others.
Even the late John w. Gates saw the
slump coming for he died leaving his