AtDTDA: What Chicago Hears

[robinlandseadel at comcast.net]

>From the New York Times, July 29, 1897

Bull Pools at Work

   C. K. G. Billings, who returned from New York to-day 
after a week or more of close contact with the guiding 
spirits of Wall Street, expresses himself very confidently
as to the future of the market, Chicago gas, of course, 
being his favorite. In his opinion, based on what he 
hearde in and around headquarters, the stock will 
shortly sell at 125, and even at that price will demand 
more attention from the purely investing public than it 
did when below 90.

   G. M. Pynchon, of Raymond, Pynchon & Co., also 
returned from the East to-day and his views, from the 
position of a broker, were singularly confirmatory of 
those of the probable president of the reorganized gas 
company.

   According to Mr. Pynchon, the Flower element 
dominates the market now. Bears on the Street are few
and far between, except in Rock Island & Sugar. Even 
in these stocks a majority of the short interest consists 
of room traders who have been caught in the recent 
bulge, or else people, building on a precedent, have 
made up their minds that a reaction after such a 
continuous advance was inevitable. Otherwise the 
Street is practically unanimous in looking forward to 
still higher prices.-Chicago Evening Post

http://tinyurl.com/yp858a