Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-06-03
Saturdays MARKET
MADE AN EXTRAORDINARY RE.
sPONsE TO THE RAILROAD
AGREMEENT.
To-Day's Buying ana Selling Look
ed Forward to with Great Interest.
The Produce Markets at b VAR
fous Centres Of T~rnde-The Sugar
Coffee War Resumed-General
Trade Nevvs.

NEW YORK, June 1.-The stock
market made an extraordinary re-
Spouse to-day to the Official announce
ment Of the agreement arrived at by
the conflicting interests in Northern
Pacific. Speculation seemed to leap to
the conclusion that the only impede
ment had been thereby removed to the
return to the level Of prices and the
advancing tendency which we're inter-
rupted by the devastating effects Of the
corner In Northern Pacific. There was
headlong buying of stocks all through
the list on a buoyantly rising scale.
All things were made fuel for bullish
enthusiasm, and any news which SEEM
ed to threaten values was ignored.
The market took on all the characters
tics Of the recent boom period, and
after absorbing all offerings to take
profits rose vigorously again in the
final dealings to the highest Of the day,
where 1t closed. There was no excep-
ton to the strength of the market but
some of those stocks which have been
advanced sharply of late, were kept
steady by the offerings to realize pro-
fits. This was notably true if some of
the Southwesterns and Southern rail-
roads. The early squirt was most SEN
sational In Union Pacific. the United
States steel stocks and Atchison. The
first sales of united States Steel were
or 10000 shares. The rise in Union
Pacific extended to 3A during the first
hour. There was some reaction mid
way of the session, but the grangers
became conspicuous, led by ST. Paul
with a 9% point rise. Rock Island
gained 5A, Northwestern AZ and Great
Northern preferred AS. There was
still a conspicuous absence OF healings
In Northern Pacific, not a single trans
action being recorded either for the
common or preferred. Not even a bid
and asked was recorded for the COM
non stock at the closing. The details
of the Northern Pacific agreement are
not announced and rumors were num-
erous pointing to wide reaching adj
justments all through the railroad
world as corrollaries Of the Northern
Pacific settlement. The whole North
western railroad system it was said
would come into one harmonious con-
troll and representation of the same
control would be found in the Union
Pacific system. The Union Pacific, said
the gossips, would detach the Southern
Pacific for the benefit of a Pacific out
let for the Gould Southwestern system
and content itself with the Central Pa
ciic. The operator who was regarded
as the market leader during the recent
boom was very conspicuous in the days
dealings and bought thousands of
shares OF many different stocks all
around the room. The bulls declared
that great financial powers had entrust-
ed large resources to the direction of
this operator to inaugurate a new bull
movement. The bank statement show
ed an unexpected increase in cash re-
serves, and the large loan expansion
was taken as an indication that all I'M
portant liquidation in the stock mar
ket had been completed and measures
were being taken for renewed opera
tons in the market. The gain in the
prominent stocks run from / to 3 points
or over. There was an abb
sorption OF Union Pacific convertible
bonuses as well as of stock.
q. S. reminding Is and the new As ad-
vanced u per cen over the closing
call of last week.