New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-10-14
BONDS.
THE DAYS OPERATIONS IN STOCKS.


Prominent insiders IN Northern Pacific have
o, sold their common stock. as recently re-
.o,ted and leading interests IN the property
are working in harmony. despite all rumors to
~ contrary. And as far as the dividend ques-
80, &c concerned II can be stated on the aU
,n,r,,v Of a leading director OF the company
.,s, according 10 present intentions, the com
I'm stock will be placed upon per cent
h,s,s IN January Certain operators IN stocks
so,b,,ess received correct infor2lo ton regard
- >o-,he-n Pacific affairs on Wednesday. for
eve speculative attacks against the stock sud
-, ceased. while important dealers began to
,nv their operations continuing yesterday ana
-. nr,oe closing at a net gain of l per cent
r.o ,-nnor,ance OF amicable relations among
49, interests connected with the Northern Pa
Ia, Great Northern and Oregon Railroad and
,,r,y,-ion Is realized IN Wall Street. II not IN
o,,er ouar;ers. and T. IS extremely fortunate
q, no holders Of railway stocks In general
,h,. the announcement: can he made with au-
.ho,tx that no internal discussions exist III
vor.hern Pacific circles. A slight difference or
or,rior arose two weeks ago. but that has been
SATISFACTORILY settled and was so announcer at
,ba meeting OF the directors few days later
Although London sold stocks In this market
Yesterday. prices for most shares ruled hlshe!.
4 SLIGHT increase In commission mousse DuylhS
was a feature and in the early dealings the
,asrs exhibited considerable nervousness over
their position The fact that there is no nght
in the Northern Pacific company leaves the pear
clement little material for vigorous WORK 'he
fear over the elections having been used 10 'S
limit and general trade developments proving
distinctly in favor OF the bulls. Now that wheat
has begun to move in response TO a legitimate
and somewhat urgent foreign deTrand there
ought 10 be little bear music in the market An
adverse decision by the supreme Court IN 'he
Joint Traffic Association case may help the ao-
yocates Of lower prices for a time but the III
euence of such a decision should not be lastlhg
The Court NAV decide against the legality OF the
association. but that will work no harm to
traffic rates. because traffic associations nave
sreadv proved powerless 10 maintain rates II
traffic associations could hold railroad companies
10 their agreements, decision deciaIlhs INV
sssocla ton Illegal would he important.
The Bank Of England raised us ulsCuu! .t 80
from 9 TO 4 per cent at the weekly l.aroa
The directors held yesterday. and as the advance
was supposed to reflect uneasiness III l-ohuoH
financial circles over European pohucs 'he IUl
eign markets were naturally depressed Inc
effect of the higher rate upon the locai inarhe'
,yas not in1porfart its chief influence being CON
fined To the international exchange market d.
a factor against further gold shlpmeh's 10 thIs
Il
rates II IS not unlikely that the Bank or Eng
lands action in raising its discount rale "aS
,nduced In part by the serious monetary out
look in Berlin and the fear Of heavy move
ment ~ gold TO this country later in the season
II may be recalled that the bank followed the
same course last spring, wnen 'he war ScdIe
caused the local banks 10 call in their foregI
balances. $500
Transactions in stocks did not reach large
to;al but prices were uniformly strong through
on, The dav The bond market rejected grow
ing investment demand. OF the railroad STOCKS
Northern Pacific common was the most con
spcuous. with dealings only ttine uh9er lne
total IN Sugar Refining The last-named STOCK
was strong at net gain Of nearly 8 per cen''
while American Tobacco, after early weakness
closed 4 per cent above Wednesday CLOSING
Great Northern preferred gained over per cent
Manhattan was also prominent strong feature