Evening star., 1901-11-04
Union Pacific Stock Makes New
High Record Today.
GOOD BUYING OF NORTH PACIFIC
Balance of the List Was incIi,eo
to Ouifness.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. November T. - Opening
prices this morning reflected considerable
difference of opinion as to the wisdom OF
following the advance recorded at the
close of business on Saturday. Profit TAX
ing and renewed selling by London brought
about a reaction of 1 per cent I'm the
active issues and gave the general market
an appearance of heaviness.
The engagement Of 81 500 600 gold for ex-
port tomorrow was announced early in the
day and had disquieting influence upon
the room. Traders were looking for some
Incentive to lower prices and renewed their
selling upon the announcement OF the gold
engagement. About this time Peoples Gas
! was made to sell down to par. and rumors
Of decreased dividends resulting from the
franchise tax decision were heard in all
parts of the room.
This weakness had q depressing influence
In other parts of the list and there was no
increase in the buying demand. 1t soon be-
| came noticeable that little long stock was
coming out on the decline and that only
the trading element was active. This posi-
tfon not being entirely safe, stocks were re-
bought by the room and the early losses
regained.
The crowd in Union Pacific was the fea-
ture of the day and much information as to
the plans of inside interests was TO be had
The buying improved in this stock as the
day progressed, but some round amounts
were encountered around log. After the
noon hour this stock had been well alb
scrbed and new high level was made for
this movement. In explanation OF the good
volume Of business accorded the stock il
was said that the regulations In the North
ern Pacific matter had already made salts
Factory terms for the Union Pacific
II was said also that the final negotiations
might be concluded over tomorrow's cleo
ton holiday and be officially announces in
W Wednesdays papers. This latter prospect
Is not wholly sanctioned by the facts In
the case, but the announcement is not Tar
away.
ST. Paul was allowed to drag between 1sg
and 40 for the greater part OF the day and
there was less stress laid upon the sale
OF the Smith holdings as the new position
TO be given the property in the settlement
OF the northwestern traffic situation.
Good buying of Atchison and Southern
Railway was credited to interests closely
related to Pennsylvania, both issues re-
spending easily to the demand.
Sugar and Copper reflected a mixed Spec
ulative condition. being strong and weak
py turns THESE properties are being
watched by traders for some evidence OF a
change in the market policy of the inside
faction. There is little fear of ANYTHING
fundamentally wrong with trade condi-
tions. -
Some plan of far-reachfng Importance I.
thought to be in progress under cover of the
surface explanations. However this NAV
De both stocks have periods of weakness in
which the selling seems to be good. Money
to carry over the holiday tomorrow was
iirm, but bankers persist in the statement
that no cause for alarm exists. The gov
ernment bond purchases are expected TO
Keep the interest rate down in spite Of
all adverse influences