| Show iH I I w 11 L Y p STOCK MARKETS FRENZY I AS SHOWN BY FIGURES h Nothing better Illustrates the speculative character of or the thc stock C market during the tIme last four tour than a 11 study of the activity In time the j fourteen stocks that follow The fh entire Issue of or stocks of or the Amal Amalgamated X C s Copper Company has haR changed hands nearly nearl three times so hums has the time common stock sleek Issue of or American Sugar Sur while It lacked but 1 I shares for Cor the time sale Bain of ot the time preferred stock of ut tIme the Missouri I Kansas and Texas to have hare changed ownership three times i With the exception of or three stocks stock time the shows that th thO entire I IssUe of ot shares s changed hands ut least beast once I 1 I r Total No of or ori Par Value Total No 0 f Situ ato i of ot of or Shares During Four I f r Name of or Company Com pan Capital Issued Weeks 1 lOI r F Copper i Company m i ii mL i L Atchison Topeka anti Fe Fc 1 4 I Chicago Burlington anti Quincy 10 j Milwaukee and St Paul 1 Chicago Hock Island amid Pacific 1 I ErIe I O m 1 Missouri tU 1 MISsourI lIp Kammens and Texas llIs and Texas pr pf tj I Northern Pacific f fexas S and Pacific 3 1119 G l x Pacific HH H H I b T T TT T TT Y fUth an aim order would have produced a II market of or three or four fourpoints fourpoints our points Now Noll It affects the market Hitherto such an arm order waS wad wa ally unheard of und mind none hone but hut the th Ih bold boldest est cst operators dealt In live lIe thousand share lots The fa n broker or bank banker er or who a n five thousand nd shaie shame l lilt t Was Ill considered ered to b be a u leader unions the time rank raul and tile file Now Ol wo we have hae brok brokers ers era executing orders dally Call dall for tor that amount and amid we WI never ner hoar nf mf r their thell mimes It lt WAS only the time other day I J re received an aim order over time the telephone tol from frum a customer in an nn uptown hotel hutel lo tu 0 buy shin sluices en of n It certain noun I 1 asked the time man moan did lId he lie know nn amm about time the stock He lit had mm enough enouch on our books book lost losi hut but I wanted to know kiln ther therIt r rIt It would woul be he WM Illif for him to 10 go gol into inton Inton lImb n LI so o deeply lie replied In a It matter mAUer of ot fact way war that It was Willi nil all light 11 ht and that he belIeved time Iho stock was lma worth more moore 1110 than It was WUI then sell selling II ing at nt So Ho I had to 10 execute the or order der cIel ILE OP OF KOL J or Of O course he added time the great In Increase Increase crease In transactions on our ex exchanges I e changes Is III not wholly holl dui tJUI to time the West Vest Western Vestera I era ern buying Ival Io wal traders have imae to toI pome F extent followed the time example set PIt et I by b time the Western plungers WP WI find our omit old lIt traders buying live hundred and ant a n thousand shares It res a 1 day Lift where formerly former they Ih bought one onu hundred shares und and thought they timey the were lere T by L home Mome of nr time the more conservative bankers and brokers In this city They Time attempted to chow that the time prices of o stocks vui wo then Ihn as high oa WI they had been beell In tim booms and It was IM about time lime for n a reaction The Time local professional traders tilled with the time lore of many jents yeats In Wall all street nodded their heads In approval Hut But no 11 runic or reaction came The m of ot till the West Welt was not damp dampened ened b Iy time tilt dire pie and warn warnings InKs ings of ot the local authorities In fact the opposition It appeared only In tim Increase crease creased it It Through January amid Feb February the enthusiasm Increased 1 In March the Western contingent was vas augmented Ilu by h reinforcements of other capitalists who vimo ho heard of or the time vast a t sums of or nione netted as profits by 11 their oc uc who were on tho the sc SOil scene no be he before before fore them themI KOil FOIt I OIt METHODS HU lI l SOt Sage when asked yesler older day what whal hum his hl Idea IdO of ot time the tin Un uncial situation l bum tiomi wimp Will said It I t might rum t ap sup appear year pear presumptuous for or him to discuss Wall Willi street sired affairs when so Ita many oth otti others ers vv Wern lIm n silent all nt Hut when asked a if It IrIt It worn not a public duty Iut to give gle a n word of advice at mit a 0 critical time ilko Ilk this limbs he ime said Mild III There Is la but one way a of o doing busi business ness keep close to the time of or com coin common mon lOon fans Cn and honesty We have hao all been helm trying to make men limen see time the necessity of or getting back k to ti honest homiest hon lIt values that we 10 might deal dealIn dealIn dealin In stocks with ordinary safety Values have hae not Increased said s Mr Ir Hage Properties now so high X f f 1 street at to see the time utter Impossibility the time dan to 10 do tie ln HH on u mm basis ballis Unless Is II a 11 speedy than change e and the men lien who fire are now adrift come om to their senses semen return mum to 10 sound Hound business methods dimmer I I ter Is III mu V liable I 1 consider It the duty dub dut of the time press Iress to toll tell time the th truth about time the situation that honest men mell may inn take warning be Lo before fore It Is too late The rime longer er this financial condition continues on tI the tho greater tN wilt viiI be the sac aar critics crIll In the undo end nd for pric have hn got lot gotto lotto gotto to come COllie down There mil comm be no other uther way ln They must come down When usk asked d his hlo opinion of or the th out outlook outlook outlook look Mr Ir Sage am hUI ful for tor forthe the time future I think men will sec seo I their peril and smith act et promptly and wisely I f look for a R change for the time better b before for fora a serious manic panle comes collies though time till re rp r suits suit of these high prices may be Us h the tIme thet t |
