Evening star., 1901-10-22
Stocks Opened Weak, but Recovered
on Small Buying.
DEMAND FOR STANDARD SHARES
Northern Pacific Deal Regarded
as Element of Danger.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, October 22-Today's stock
market opened at a fractional decline. and
early trading reflected a rather discourag-
ing prospect. Commission houses did little
and some foreign selling for Berlin account
contributed to the heavy undertone. TIE
failure to arouse public interest was SEN
orally commented upon, and traders were
rather confident in predicting lower prices
as the only means Of overcoming the
apathy.
Several pools were said to be seeking a
way to Tighten their burdens. and in at
least one instance a lack Of harmony among
the parties In interest was said TO be threat
ening the entire market. For a time these
mysterious suggestions had a depressing
innuence on the general market, and any
concerted attack on prices would have been
followed by a sharp recession.
While traders hesitated to sell, a quiet
buying movement in the high-priced divi-
dend- paying shares began to assert itself
Northwestern advanced points to POS un-
der dealings which disclosed lack of any
considerable volume of stock. Big Four
New York Central, Nickel Plate and Can
ada southern became active under good
buying, and the entire surface condition of
the market changed for the better All of
the properties named are members of the
so-calleds Vanderbilt group. and this dis
covery gave color to the belief that these
eral market
A cash dividend on Lake Shore is pre-
dicted in some quarters, and such action
Is expected to increase confidence in Van
derbilt properties.
Much guessing is going on in the street
as to the plans for final settlement OF
the Northern Pacific episode In some
quarters there are grave suggestions of
danger from this source. while in others
the purely selfish instinct of seIf-preserva-
ton is relied upon to bring the factions to
an amlcable agreement. Ii would be well
Tor the market to have the matter settled
dehnitely and few more days should see
the incident officially closed. There is moth
ing now in contemplation which would indi-
cate that Northern Pacific preferred is
worth more than its present selling price.
Rumors of pending developments I'm
southern railway and certain of the coalers
were to be heard. but the demand for these
issues was in keeping with the general
absence of business.
Amalgamated Copper was dull at yester-
days decline and no really significant trad
Ing was reported in il either here or In
Boston. Rumors of an advance in Ameri-
can Sugar were numerous, but without spe-
cial result
The Industrial list as whole was irregu-
lar under professional dealings. Bankers
were a triie more optimistic as to the fu-
ture fthe loan market, and some Az per
cent fye-months money was reported.
Mixed collaterals were readily accepted and
borrowers appeared to be less anxious for
time accommodations.
The 1st OF November is not a time for
easy money rates in the money market
however, and something more than the
assurances of today is essential to public
confidence. The best judges of the market
refuse to predict the immediate outlook for
prices, but are rather firm in their con-
victions that some important transactions
later on as the outcome of negotiations
now pending.