The daily morning journal and courier., 1901-10-18
Financial
THE STOCK MARK ISI.
and Hesitation Revealed.

| Confusion and Hesitation Revealed. l New York, Oct. 17.-To-day's stock
 market was again quite inconclusive as
 an index of any consistent speculative sentiment Confusion and hesitation
 were the only feeling revealed AL though prices covered considerable
 range, and in some eases several times, l the net changes of any consequence
 will be found very few. The same l brokers acting to all appearance for | the same interests were on different sides of the market at different times
 of tn day. This was especially true of l the operations in the southwestern rail- road group, in which heavy selling, l seemingly for inside interests, was fol- lowed by even heavier buying from the
 same sources. The midday weakness in | this group interrupted hardening ten dency in the market, as it did yester- | day The feature of the morning deal | ings was the marking up of number | of high priced investment railroad stocks This movement was prompted by the sales yesterday of Lake Shore at | 300 which were confined to two trans
 actions, and the alleged rising of the bid for Chicago Burlington and Quincy to 211, which proved on investigation to
 be wholly fictitious. On this rather slender basis there were hung various
 sapient dissertations upon the signif-
 canoe of the pressure of capital thus re- vealed in the high class railroad stocks
 and the example was taken up this
 morning possibly by investors and pos
 slbly by the ingenious professional op-
 orators who have been seeking to
 awaken speculative interest in stocks.
 This moevment had lost much of it's force by midday Much more impress
 sive was the sudden activity in North ern Pacific preferred, after period of practical stagnation lasting ever since
 the panicjof May 9, Not only was the
 demand for this stock quite strong, but the supply was extremely liberal, many 1000 share lots being dealt in and the days transactions reaching a consid- erable total. Among the prominent sellers were brokers often employed by the capitalists whose jealously guarded control of the company is known to be maintained by holdings of the preferred stock The incorpora ton in Iowa of Chicago, Burlington and Quincy Rail- road company, stated to be for the pur- pose of acquiring the Chicago Burling- ton and Quincy railroad, coupled with this movement in Northern Pacific pre- ferred, caused new attention to the re- gently prevalent reports of progress in the plan of settlement for working out the Northern Pacific tangle. But the influence of this development did not extend beyond St. Paul, Union Pacific, Great Northern preferred, and South ern Pacific. Amalgamated Copper con- tinued active, but the belief grows that | this stock is influenced at present by a speculative duel between two profes- l sional operators, rather than by actual conditions of it's finances and the | trade. The stock was firm to strong, | and shows net gain of 1H. Sugar was | another prominent feature and gained | for the day 1%. The covering of the 1 outstanding shorts was an important | influence on the latter stock. The | weekly exhibits of the great European banks reflected clarly the strained con ditions which have developed in the Paris money market while the condi- tion of the imperial German bank showed a material and unexpected inn Otherwise there was no marked change in the money or inter- exchange situation =a
 Railroad bonds were quite firm on a good volume of business Total sales par value $1,S05, 000
 United States 3s advanced A and the 5s coupon declined 1a per cent. on the ast call.
 closing Prices.
 Following are the closing prices reported y Prince X Whltely. Bankers aud Brokers, ,2 Broadway. New fork. and l5 Center st, New Haven. Bid. Asked.
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