Daily new dominion. [volume] (Morgantown, W. Va.) 1897-1906, 1901-05-11

still stoutly claimed by the Union
Pacific party. Undoubtedly there
were very many speculative losers of
great resources in the collapa Of
Thursday who retained their nerve
and determination and who sat about
to recoup themselves by new specula-
ton in the market Other buyers
were those who had gotten out early
In Thursdays slump and who still
saw a profit in getting back at the
prices ruling Friday. The bargain
hunters were also on hand in some
force. and there were many cash
transactions. both in bonds and
stocks, representing their purchases
This outcome of affairs vas pretty
well assured when the news was
learned Friday morning Of The settle
ment effected VITA the shorts in
Northern Pacific on the basis eff $3.50
per share. This removed the over
shadowing fear from the market and
the quotations for Northern Pacific
on the tape at 1850 still further al
layed the apprehension The stock
sold at 200 for cash afterwards but
the progress Of the settlement with
the shorts at the Offices of the con
fiicting interestsl Northern Pacific
prevented any further disturbance on
that ground. The measures taken
by the banks which placed heavy
loans on the market Thursday and
their decision not TO call the loans
Friday completed the tranqailizing
influences.
Restraining Order by Judge.
The issuance of a conditional re-
straining order by a member of the
supreme court of the state. Ringing
on the reaching of an agreement be-
tween the waring Northern Pacific
factions. was a novelty, but it served
the purpose. 1t furnished the leaders
of the wrangling elements an excuse
they were very glad to have to get
together and patch up a truce.
The market closed strong at the
top with a feeling of relief over Sat
urdays holiday. The gain extended
in Union Pacific to %, st. Paul and
Lackawanna 171a, Consolidated Gas
Is. Burlington and Amalgamated Cop
per 12@. international Power 11h,
Baltimore and Ohio IL, st. Louis
Southwestern preferred 10H, Sugar
Delaware and Hudson and General
Electric 10, and representatives of
practically all the important groups
from to 10.
Bonds. which were weaker Thurs
day. showed some wide recoyeries,
but others were weak. Total sales,
par value. S5,930000.
u. S. new As declined u per cent
on the last call.
So far as actual control of the
Northern Pacific is concerned, the i'm
preston was gaining ground last
night that it will be the party with
the most money that will acquire it.
Many Of the daily papers and some
of the financial papers Friday ex
pressed the belief that control of the
Northern Pacific was still vested in
the Morgan-Hill party. On the other
hand. one of the leading daily papers
of the city and some of the financial
organs of the street still express the
opinion that the Hartman party is
in control. One thing seemed set
tied last night, and that was that
Kuhn, Loeb q Co. did net yet admit
defeat. Late in lie day Mr. Otto H
Kuhn of the firm, did not hesitate to
say: I'VE believe we have control"
J. J. Hill. on the other hand, how
ever, was quite as decisive in reiter-
ating his previous statements that
the control has not changed
AS a matter of fact, it is said there
seems to be no reason for doubling
that both interests have control SO
far as stock in their possession, plus
contracts for delivery, are concerned
But which interest will eventually be
able to vote a control in the form of
actual certificates remains to be seen,
and will, it was believed last night
not be definitely known until the an
nual meeting in the fall