The Birmingham age-herald., 1920-04-13
WHAT THE COURTS WILL Do


 It seen's t1 tc the impression of the veterans fra; 1T the Stutz motor case is taken into court then it will be
 held by tee juage that the transaction was Tn the fn?T of contract. The sellers of tic stock contracted to de- 'ivtr the stock and in law they can he comrellel to stand by the terms of he contract But what the effect when settlements are at last made; , fer there must be some settlement wl.h Allan Fyar. who is understood to corteel substantially all the Stutz stocks upon the active market of the stock eInains t. be seen. If the prece- dents arc my indication of what the 1 eSSect may he then there will come. 1 a time of lcsuSttion, doubt perhaps 1 ndifference awards this stock. That !, has almost a.ways been. the case ex- ccptiHg q, the tma of the Northern Paciic c0frer lsut that corner was
 engineered not fer the sake of squeez- 1 ing anybody. tut tc secure control of ] the railroad situation as it was rep ! resented by MT. II II and Mir. Morgan l oa the one Land, and Mir. Harrison on 1 the other
 JAY GOULD'S LESSON
 1 Jay Gould learned one lesson and | learned it well after he had succeeded In ccrnering the stock of the Chicago Northwestern Railroad Company. Mir l Gould's strategy was brilliant. He was the master of the situation in I little while. and he was in position l to compel all who had sold the stock snort tc come to his terms in order to | Ee released from the contract The tsansaction brought to Mir. Gould | q good deal of money, but there has | always been suspicion that he after wards lost a considerable part of these gains because the aftermath of the, Northwestern corner was somewhat disastrous to the owners of the stock. l IT. fact the public would not touch it | for long time. The stock became | almost maribund. And it was some years before it was again quickened l Into activity.
 l Probably it was on account of this ! experience that Mr. Gould refused to l take advantage of an opportunity he 1 had iu 1884 for securing a perfect corner in the Missouri Pacific stock. He, with Russell Sage, Sydney Dillon and Washington E. Connor controlled practically all of the Missouri Pacific stock. Ii was learned that 149 brok- CTS and banking houses were short | of this stock. So Mir. Gould's associ- ates said to him that he had oppor- tun:ty to bring every one of these l ID short sellers to any terms he chose because it was in his power to corner 1 Missouri Pacific stock. But i'm reply l he sad that he would not permit any 1 corner to be established. He had had l enough corners. In the long run he believed they were harmful to the I stock. Probably he had his Chicago Northwestern experience in mind. l Therefore. there was no corner in Mis- isour Pacific and reasonable terms of settlement were made with all who l had sold the stock short
 WHEN HETTY GREEN SQUEEZED
 There was a time when Hetty Green | took special interest in the Reading | stock. With her almost abundant cash l resources and her unsurpassed credit, she was able to enter upon any deal {, in which she thou profit might I be secured. One of her favorite deals 1 of this kind was in the handling of a l Reading stock. She did not go as far as to make perfect corner, but she cd 20 far enough to squeeze the deal- GIT and to- make them pay at the rate Of 10 per cent for the privilege of Borrowing the stock over nigEt so they could make settlement the next day She did this upon several occasions until at last when it was evident that a squeeze in Reading was in IT ogress. it, was commonly remarked Tn the exchange 'Hetty Green is put lung on another squeeze" She made a good deal of money by these transac- ttsops, and so far as is known, she has ll.eyer lost any through her dealings IT Reading. perhaps because she never