New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-03-29
BAD SQUEEZE ON CURB.
standard Oil Of Kentucky Jumps
$50 Points in Few Minutes.
minors OF CORNER DENIED
rrormous Rise in Shares At
tributed to Expectation of
Melon Cutting Soon.

.,rsational rise IN the stock Of the
-.,rd oil Company Of Kentucky, which
'..d s350 a share In a few minutes OF
.,rg on the curb yesterday, caused more
".r,.rsnt on the outside market than has
IN seen there in months.
r-ss rumored that there was corner
,so stock and that number OF brokers
had been short Of the market had been
ID 10 cover al losses ranging from 800
"a roirts on each share. One broker,
W sold twenty shares on Wednesday for
,rspt in the South at $40 a share. had
=. received the stock for delivery UP TO
-. close Of the market yesterday and was
-,.-ly worried out OF his wits for fear 1t
.,,rld not arrive In time for delivery TO the
..-,bsser ir the time specified in the CON
,-,r IN that case he would have to go
,,,o the market and purchase the stock,
end At Yesterdays quotations he stood TO
,,ss anywhere from 200 TO Nl,2o0 on the
,-srsaction. This was not a short sale, as
=. client for whose account the stock was
sors actually had the twenty shares in his
cossessior. and, provided they arrive in
,i-,o the broker VIII not lose anything on
the deal
While the action Of the stock made it ap-
rear that 2 squeeze Of some kind was GO
INK on. s, Was denied in well informed curb
circles that amy one had negotiated cor
ntr. or that there was a short interest in
tat stock sufficient 10 warrant such an al
vance .u price.
The Violent rise in the stock was attrib-
ued IN these quarters 10 the expectation
that Tho company would shortly cut juicy
melon for rs stockholders in the shape OF
stock dividend OF 40 per cent The capital
stock Of the company, II was said, was 10
he increased from 100000 to 10000. tho
increase 20 he distributed among the stock
holders As a bonus. and dividends Of at
Isss, q, per cent year were 10 be paid on
the increased capital The last available
statement Of earnings Of the company IS
that of la'| when the net profits we're 81
Sl5a
Whatever tas reason. there was 4 Wild
Ush n buy o.. stock and tho result was
that the price advanced by leaps and
hounds on small number Of transac ttons
From $50 2 share AZ the opening the stock
Jumped ON the u,Nt sale. which was OF
ore share, ~ tro Then camo sales Of
san' shares ~ T'o. two at $50 ono IT
e. four ~ 500 and two al tlG1o From
thai rzgrs the stock dropped back 10 800
share. which 0as the closing price. a let
gain - 800 share on the days transac-
ton which totslled only Hftv shares
Two months ago the stock was selling at
81" share I'm common with other for
rer Standard on subsidiaries however. It
has been advancing steadily and MONDAY
rn'r r'mors first began 10 circulate that
di-'riou'jcn ~ some kind was in pros
pei for the stockholders. il sold up 70 $3.50
share and reached $40 Wednesday
The stocks ot t7o other former subsidia-
:is- Of ths Standard OH Company Of New
j'~se" th4 Atlantic Refining Company and
tho South Fsun-rlYaua oil Company. also
advanced sharply Yesterday ou reports
that thew were preparing 80 increase their
'70''sI end mako a stock distribution 70
their shareholders and pay Eat dividends on
tho increased capital South Pennsylvania
stock vent Ip SIS share. while Atlantic
Refining advanced 50 share These
gains passed almost unnotiCed. however, IN
he excitement over the startling rise iu
Standard OU "f kauturkv stock
IN the case ~ the Atlantic Refining Com.
lsnv 20 vas ,ald that its capital stock
would no increased from tho present S.
ro"a - S'5 "ooo an. the increase 70 he dis
'0s.t'd a a. 80 per cent stool, dividend
AMONG 'he srookhoder, The company is
s'i7 80 Boo earning over n, PER cent on its
present capital and could easily pay n rar
cent. 4" RS believed. on capital 81 [15 nl'."o1