Evening star., 1901-06-14
FINANCE AND TRADE
Strong Bullish Tone to Stocks at the
Opening.
BULGE In UNION PACIFIC
Some Realizing When the Price
Reached Highest Level.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, June 14.-Prices advanced
this morning under concerted buying by
syndicate interests and slightly better
commission house inquiry. London sent
over a higher range Of prices and foreign
houses were moderate buyers of the Pacific
stocks.
Union Pacific was feature of the early
demand, selling up over 115 under big buy
ing. Around the price quoted realizing
sales set in upon large scale and the buy
ing limits were reduced in the effort to ex-
haust the selling. The individual amounts
purchased indicated very clearly that some
thing more than a traders move was in
progress.
The persistent buying of st. Paul at
tracted attention during the morning and
the price was advanced beyond 176 under a
sudden. scattered demand. Union Pacific
is almost certain to acquire sufficient in
terest in st. Paul to give it a permanent
outlet to Chicago.
The evidence of another important al
| lance stimulated the whole market and In
creased the volume Of the trading. The
willingness of Union Pacific interests to
proceed with the plan was taken to indi-
cate thoroughly harmonious situation in
the northwest and disposed Of the last
element Of mistrust as to the sincerity Of
Erie issues were again in good demand
and advanced easily under assurances that
they were to be made more conspicuous
than heretofore. Missouri Pacific advanced
to a new high level and the Denver issues
remained strong under the prospects for
an advantageous exchange into the former
shares.
The Texas Pacific merger is likely to be
delayed and the latest rumor has 1t that
the property will not go to Missouri Pa
cific at all. at least not upon stock basis.
Louisville and Nashville was strong un-
der good inside demand. and the street
Is becoming confident that the present
earnings of something over IL per cent on
| the stock will insure ar increased dividend
disbursement in some form.
The industrial shares as a class were
given splendid support, and some of them
advanced substantially under the mixed
buying which followed a manipulative ad-
vance. Colorado Fuel was marked up to
12s. as compared with 118, the closing price
of yesterday.
AS an incident to the advance a rumor
was circulated to the effect that the com
pany was to be absorbed by United States
Steel on the basis of 1co shares Of common
and 100 shares Of preferred stock for 100
Colorado Fuel. In view Of the fact that
the prediction Of 100 was made for the
quite likely that this interesting merger
has been invented merely because Of it's
the adaptabtlity to the original plan.
Tennessee Coal and Iron. Republic Steel
auo Ill tio Stoei hHo iTon SnareS OUTSIDE OF
| the trust were strong under a good specu-
| lative demand. The Traction stocks were
| steady. but no effort was made to force
them to the front.
Tomorrows bank statement is something
OF mystery, tre nnuch as advance esti-
| mates indicate . small net gain to the
| banks. This showing may be reversed by
| radical changes in the loan account Just as
was the case last week.
If the large increase In loans made last
| week gives way to a reduction tomorrow
| the showing should be favorable, but some
| Increase seems certain because of the
preparations for financing corporate deals,
The engagement of $500. 900 gold for ex-
| pert caused some realizing during the final
hour, but the decline was only natural In
| View Of the days advance.