Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-10-06
BEAR|SH CAMPAIGN
Anglers TRADERS
Wall Street Surteited With
Rumors of Failures and
distress" Talk.
BY CHARLES w. STORM.

Special Dispatch to The Star.
| NEW YORK, October 6.-Renewed
liquidation and additional professional
short selling in small volume broke the
| general stock market toward the close
of the market Saturday. The quickness
with which prices faded away was a
source of much encouragement to the
bull contingent which had been hoping
| that the recovery would continue fur
Their. Important professional traders,
| however, continue to maintain policy
of waiting for definite signs of the
trend before making new commitments.
The nam:s of one big plunger and of
one larger trader. who goes long as well
as short on stocks, according to his
analyses of the merits or dement's of
specific issues. we're mentioned as put
ting out additional short lines of stock
Saturday. Both these men have had
noteworthy success on the short side
the last three weeks.
Indignation Against Bears.
1t is daily becoming more apparent
that wave of Indignation Is growing
in Wall street against short selling and
bearish propaganda. Professional bears
are becoming more disliked daily, and
in some instances they have been
known to be booed when coming into
crowd Offering stocks for sale.
Heads of corporations. the dividends
of whose stocks have been the subject
of much unfavorable talk as to their
safety, are also becoming very much
incensed and are calling people to task
who circulate such reports, It Is also
known that the Stock Exchange au-
thoities are carefully scrutinizing mes
sages sent out over wires by their mem
bers relative to rumors concerning stocks
writer also knows of instances where
certain operators whose names nave
been mentioned as bears, are cunning
for those circulating their names as
short sellers.
EMPLOYEES of brokerage houses have
been cautioned against making unau-
thentic bearish statements on stocks ano
in at least one instance an employe oil
a certain house mas been reprimandeo.
The wisdom of stopping short selling
is the subject of much discussion In
| the Street and rumors have been cur
| rent that efforts might be undertaken
| to pass legislation to stop 1t.
Indignation against bearish propagan-
| da hiss reached such a point in Wall
| Street that it would not be surprising
but what some culprit is publicly repri-
manded.
WoOlworth Being Bought.
Interests identified with the Wool
worth company are declared to nave
been largely responsible for the buying
which has been appearing in that issue
the last week and resulted IN the sharp
advance in the price of the stock. Pur-
chases are based on knowledge of the
favorable showing of earnings being
made by the company owing to the re-
duced cost of merchandise and reduced
operating expenses.
Much talk is. being heard in Wall
Street with regard to the abolition OF
prohibition. AS Wall Street always
endeavors to onvert advance informa-
| ton into money a certain group OF
| operators have been canvaSsing the
market for brewery company stocks in
| anticipation of big advance in those
| shares as soon as more definite signs
! of the abolition of prohibition become
! evident. Rumors were current in the
street late last week that President
Hoover would about two weeks before
election come out openly against
prohibition.
| Professional bear traders have been
watching those stocks which are
| sponsored by some of the houses which
are supposed to be in financial diff
| ficulties with view to attacking them.
! Copyright. 1880. by the North American
/ Newspaper Alliance
| Low fares are causing many taxi driv-
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