OCR Text |
Show COMSTOCK POOL HAS REACHED DISSOLUTION The famous Comstock pool, mfidc up of leading New York and San Fra-i- i Cisco bankers, which has held several million shores of the Comstock securities! se-curities! has been dissolved. The pool was formed eighteen months ago an 1 took over stocks which had bqeu accumulated ac-cumulated by Bernard M. Baruch of New York, at a tlmo following the ! San Francisco, earthquake. ThoPo who J follow the course ol tric.-e seouriHe know thn shortly after the San Fra- Cisco catastrophe all of the f,oinfllO",t , shares crumbled, as th immediate ii- J cee t fer funds for '"$ a ho -yr-z' ' ' ' SI caught in the stricken city required v $ the sale of cery available aasot. This I Tj'B being the case, shares onj'oylng a pub- $ He market were thrown, over at a 'JH sacriflco, "fl At this juncture negotiations were H oponed with a number of Now York i iH financiers to take steps to protect this . IH market, and Mr. Baruch Js understood I B to have como forward In this matter -LLiHl and to have accumulated a long lino mmIHJ ot stocks, not a8 a profitable venture, HB but simply to help those In trouble. HBHJ Later thoso who had askod him for HBHJ assistance decided to extend the work- BHJ lng operations of this pool, and de- H elded to form a syndicate of which H $500,000 was to ho subscribed for bv H those invited to loin. M At this juncture Mr. Baruch dccld- H cd he did not care to follow In tho H matter any longer, and tamed over his holdings to this new syndicate, H which was made up of representatives. H of the Lowisohn interests, Ladenburg. Thalman & Co. of New York, and H prominent Boston stock exchange , In rough figures the entire Invest- jH ment of this syndicate was close to $400,000. On receipt or the first news H of the formation ot the pool tho secur- H Itles in San Francisco bounded "P- H ward with a tremendous jump, and before long the syndicate is undcr-i stood to have had profits ot over H $150,000. Goldflold Tribune. H |