Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-03-16
small capitalists who have money in that
kind of securities, are never stamped Oy
the events and commissions that AFFECT
the speculative element.

small capitalists who have money in that
kind of securities, are never stamped py
the events and commissions that anect
the speculative element
Heavy Short Interest Develops
The belief is generally entertained that
a very heavy short interest has develop
ed in the stock market. This condition
ia believed to affect definitely and per-
sonally a large number OF heavyweight
operators-men Of large means who trade
in groups or individually and whose mar
ket interests are sometimes colossal
There are men who have accounts OF %.
OOO to 10000 shares. whose names are
never mentioned and whose identity as
SPECTATORS is unsupported. except IN q
very limited way. Not few OF the iarg-
or brokerage houses get fat on the profits
of the trading of handful of customers
who do their business entirely over the
telephone, and who would regard 1t as
the betrayal. Of q sacred trust II any hlnt
were given OF their operations. mere
is more Of this going on than any one
outside of the elect of the financial
community dream of.
AS a rule, this class of traders stand
for big losses or big profits, but when
the spirit of excitement gets beyond con-
troll they. are quite as susceptible to cur
rent influence as the little player. There
is reason to believe that here Is located
the great short interest, which Is believed
to exist 1t might take quite an advance
to cover, a fact which is taken into ac-
Seount by experienced traders in trying
to form judgment as to the future.
Attitude Toward Press Changes.
It is almost laughable to observe the
lengths to which the New York Stock
Exchange is going in an effort to curry
public favor. 1t has even gone to the
extent Of fitting up expensive quarters
in the sacred stock exchange building
itself for the accommodation OF news
paper men. The management adveruses
that financial writers will be very wei
come to take advantage OF the faciities
which will be placed at their disposal.
Heretofore it has been the habit or the
exchange to set the dogs on the news
paper men, figuratively speaking: NOW
nothing is too good Tor them. Furtner.
is beginning to become reconciled TO
many Of the supposedly impossible re,
forms which are about to be perpetrated
upon the organization by the legislature
at Albany and by Congress.
Practices which were regarded by the
exchange as sacred, but which the puDilc
unhesitatingly denounced as next door
to robbery, are about to be cnangeo al
most without q murmur. 1t Is not 1mpos-
S1Dle tnaC CUSTOMERS WHO nave SoSu As-~
isAthe hands of the brokers will be pro-
tected against the misuse of their prop
erty as collateral ''in Jackpot loans
This Is something that the membership
of the exchange almost to a man agreed
could not be done. They are changing
their minds. It looks as though the abuse
of Decentralization Of checks might be
passed over, although some OF the Wild
men in Washington may conclude to hold
the stock exchange members down to the
same rules in that respect which govern
the rest of mankind.
The proceedings Of the arbitration COM
mission in the locomotive flremen wage
contest are being watched with great In
terest in Wall street. Railroad men
themselves appear to be reconciled to an
adverse finding. and to look forward to
q long period Of exaction from employees
They will try to turn this into an argu-
ment for permission to increase rates as
the only Offset.