The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-10-24
The VanderbiIts, Chicago & North
western and Later St. Paul,
Union and Southern Pacific
Bore the Brunt of Trading
EARLY WEAKNESS WAS
GENERALLY OVERCOME
Even AmaIgamated Copper Which
Fell Two Points in the Opening
Closed With a Net Loss of But
Attraction Over a Point For the
Day

New York, Oct. Speculative ac-
tivity today was largely confined again
to few stocks, but the field of action
shifted from the Vanderbilts and Chic
ago & Northwestern into st. Paul,
Union Pacific and Southern Pacific.
The aggregate dealings rose consider
ably over those of yesterday and for
some time past and as the day prog
ressed the market showed a broadening
tendency in sympathy with the sus-
tanned strength of the three leaders.
Chicago & Great Western came con-
spicuously into the movement later in
the day and achieved an extreme adj
vance of rs, on very heavy dealings,
closing at the highest. Other stocks re-
acted somewhat from the top, in
creased partly by a break of Az in
Chicago & Northwestern preferred. st.
PauIs extreme rise was points,
Union Pacific's 81 and Southern Paci-
tc's. a point. Among the stocks to
come forward late in the day were
members of the soft coal group, and
the Southwesterns with gains of 1 to
IL. Sugar was also quite notably
strong rising IA, and International
Power advanced 21a.
The early weakness of the market
was quite generally overcome by the
late advances. Amalgamated Copper,
which fell points in the opening,
closed with a net loss of only rs.
There was some very large selling or
ders in the stock and it was affected
by the weakness of raw copper in Lon
don. The local fractions and Peoples
Gas were also prominent in the early
depression. Glucose fell 21a and the
preferred 2 under raids by the bears,
and Hooking Coal was forced down
IL. There was some continuance in the
early dealings of yesterdays strength
in the Vanderbilts, New York Central
rising rs, Chicago & Northwestern 8
and the preferred 81, but the move
ment was not continued after the re-
action in the market.
There was no specific news to ac-
count for the action of the market but
it was undoubtedly based upon the as
sumption that the negotiations now in
progress will result in the settlement
of the Northern Pacific controversy
with benefit to the whole Northwest
ern system. The neglect and tagging
tendency of Great Northern preferred
and Northern Pacific preferred did not
seem to disturb this conviction.
Neither did the apparent contraction
Neither did the apparent contradiction
found in the insistence on the retire
ment of Northern Pacific preferred and
the broad intimation from President
Hill that Great Northern is TO be con-
suited in the matter of control of the
burlington system, as well as Northern
Pacific.
These insistencies are regarded as
the vantage grounds to be shrewdly
held while the process of bargaining
is still going on, as it undoubtedly is.
Burlington was quoted in the closing
at 190619S. The exchange market was
somewhat easier today, notwithstand-
ing the advance in London discount on
account of the loss of more than ST.
100000 additional in gold to the CONT
nent.
The bond market was quite active
and broad and prices as a rule adj
vanced. Total sales par value S4,670, 600
United States refunding IS declined Y
and the old As Is per cent on the last
call.