The sun., 1912-06-12
GOSSIP OF WALL STREET.

The majority Of the traders who are
supplying most of the business in stocks
just now Thought Yesterday that most OF
ne news was bearish II was bad that the
h.'eu States supreme Court adjourned
Wuhout passing on the anthracite case
'he mon Pacific merger suit and the Min
hesota rate case. for tie railroads concerned
IN these important cases could not feel
hluch like expansion until their legal status
was accurately defined |, was bad that the
money trust investigation seemed to be
.nrhihs INTO an inuuisition designed 10 east
oiamc upon the strongest financial ins,i-
tu'Ions on the American continent. for
banhcrs might not he disposed TO encourage
loans on stock Exchange collateral until
.he ihunisition was over and big brokerage
houses ana ing operators might not care
7" run tho chance of exposure of their bor.
rowlngs from banks in the course of a buIl.
i>h campaign. The Government crop 70.
bort. IL was added. was not as good "a ex-
nected. and II was predicted that the wheat
crop would be below the low yield of last
year Inc newspapers teemed with labor
troubles in this country. England and
france. The resumption of testimony
IN the suit against the steel Corporation
was disconcertny to many people often
interested IN stocks. and the proposed Con-
ana other combinations are not likely to
inspire many others with bul,ish enthusiasm
All of the bullish arguments we're forro,,cn
for the time and the selling by professional
traders was enthusiastic during the rreater
part of the session
--
obsessed by bearsh arguments "a Wall
street was. from several persons the sug-
restion was heard that the Morse banks.
al n,,.t- a.. ,
have failed long before they did but for
assistance from other institutions in the
Clearing House. II was wondered IL some
member of the Pujo committee would not
by tho CI.nr;nc unn., u, s,.,;,, III
to,,.ripy ins,i,u,i,ns ~. l,n,, 49, !, az "
" - '
AZ on many previous DAYS oflate. brokers
had very little business from London In
London the market continues depressed
because of the collapse Of crazy speculation
III Marconi and other shares and the London
SPECTATORS and financial critics appear
to be very much discruntled because they
Ia maninu,a,ion ~ ,h. g., y,'.t. ii
make, rho ! ord, r., n .,'
issue did tho nov, h.s, ,hi,,o, !, 49,, 49,.
troub,es ~ no I ,n,,, S,.t. rl
on moor suffering Irni,nd ,bu,d.r;r,, a..
f,,lous "rho co,i,,,o ar ,ho Na.,i
share. from ,beir di,,v h,ichts Iii ,,'''.'
a gloom over the industrial market which
VIII not be hnnlly dispeled until after tho
special settlement IN the American MarConi
sHhre-, 'rea' surprise Is iel' az the extent
u" "h.'h sooer. STEADY fngllsh brokers
"i'o"eu themselves I" ne u'liiHed nv
pluheers. 10 Sr"at extent irish. IN this
cHair lhey houRht thousands or shares
ior cienl> III pubiin ana CORK probably
some Oh thoSe clients ,old out az the top
London brokers have To hand over al
though compelled TO bear the losses OF tho
defaul,ers
Inc speclai settlement IN the American
Marc"n' shares 10 whlch me London Tunes
reiers Is no" scheonieu Tor June 20. The
i"'' 'nat spetlai settlement wa, necessary
seems I" empht,i@" the predlcGinent of
London J"bbers ana brokers. for time
the Amcrican MGfc"hi shares were active
on me New nork curb. hut most OF the
business was for ioreign account, New
10TH sPecuiatoTs "s rui" ignored then.
Tho nredjc, i'm .b. ,ba R,,,L 81 ,tt.r,,,,,,,..
di.rou,,, r,,. wanna I, ,a,i,,,od -, - 80
o,,,, Y,. r,,lc,I,,, a,,, ,,,.,,'.,,i<,,,.i ..t -
beca,a cnny..,ced ,h', ,b,. ,,,,,-,.rI,. o,,
..,,i-,rr,aI .,,,Ion,.,. T., ,arn,n,,. t;t
yro. drogd.t ,,r .,,,r, ,ir,, uin ,,,,, ,,,
,yi,bnu, nrv di.,u,honce rb,,,yar
ot"l'hS'andlrr N" failure Of the nIted
, states SVpr"lH" Court 10 dccid" tho authra-
cit" 'ase, Jersey Central. which Is one OF th"
dividend OF pcr cent and an extra q ~ .dond
of = per cent the same as six months
and year ago " IN the case of ,he ot her
extra declarat .ouS, tho extra dividend i
1