The age-herald., 1901-07-19
STOCK MARKET
 WAS UNSETTLED Speculative Judgment Was h. fluenced by Erratic GyrationS THE EFFECT OF REALIZING Belief Prevailed in the Board That the Large Capitalists Who Supported the Market Were Tightening
 Their Loads.

New York. July 18.-Speculative Judg- ment on today's stock market was unset tied and inconclusive under the influence of cratic gyrations of Union Pacific,i St. Paul and to a lesser extent, other rail- roads affected by the Northern Pacinc settlement announce late yesterday. The influence of that announcement was dom- inant at the opening of the stock mar ket, as was shown by the congested puy- ing of stocks of the railroads anected' and of the steel stocks. The simultaneous nurchases of Union Pacific at the open ing were 10000 shares at 103A to 1041s com . pared with 1O2a4 last night, and Of St. Paul 5000 shores at 1651s to 165 compared with 163% last night. United States Steel was also dealt in to the extent Of SOOO shares, varying in prices from 4O1a to 41A compared with 40ss last night. The price 9 of this stock at the opening was the highest of the day and it was under steady pressure through the mutations of the market getting down nearly point under last night and closing at a frac- tional net loss.
 The whole market felt the effect almost immediately of enormous realizing sales and the excessive declines gave rise to the conjecture that inside interests, which bought stocks yesterday. were selling out to take profits The belief prevailed on the board that the large capitalists who supported the market on Monday and Tuesday that practically all offerings or leading stocks were Tightening their load taking advantage of the effects of the Northern Pacific to reduce their hold ings. The rather palpable manipulation of the market and the circulation of vague intimations that further disclosures were coming of additional arrangements under the Northern Pacific settlement added to this impression. Rather frank admissions were forthcoming that the announcement ! of the Northern Pacific settlement was timed with view to quieting apprehen- sions and checking the uneasiness in the stock market against the earlier decision of those interested to withhold announce ment until a later period. This gave color to the belief that the policy thus adopted to rally the stock market had in view as we'll the moral effect upon the steel strike situation of an advance in the steel stocks. These conditions served to take the edge off the fact of the announce fnent that the Northern Pacific settle meDt. lHeTe WdS d pciiOu dllOi iiooe'y when the general level of prices had re- ceded well below last night, even Union Pacitic and St. Paul showing losses The weakness in Atchison, Rock Island, the ~ coa1ers and some of the Southern lines were quite pronounced. It was late in the day when Union Pacific began its final upward movement. The demand for the stock was apparently unsuitable, blocks of 1000 to 4OO0 shares succeeding each other in quick succession Every effort was apparent to bid up the price of the stock. It touched 109 before the close and St. Paul was lifted to 10SA.
 The market rallied in sympathy but did net get back to the best. Chicago and Northwestern rose six and General Elec- tric Sis. The buoyant rise in Union Pa cific revived the belief in further develop ments in the community of interest plan in the West The closing was feverish and irregular below the best.
 The railroad bond market was active and continued slightly irregular in spite of a late improvement. Total sales, pal value, $2,e7o,00o United States bonds were all unchanged on the last call.
 New York Stock Market.