New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1901-05-15
THE WAR NOT YET ENDED.
Interest of Financial World Still
Centered in Northern
Pacific Stock.
INDICATIONS OF THE LONDON MARKET.
Every share in That City Is Held by
the Morgans and Kuhn, Loeb & Co.
elimination That Fight May Be
Transferred to Union Pacific Rail-
way Stock.

London, May ia special meeting
Of the stock exchange committee has
been summoned for Monday morning
in the hope Of reaching solution of
the difficulty in which operators and
brokers who have given calls for
Northern Pacific for the end of May
and July find themselves. It developed
Saturday that every share here is held
by the Morgans and Kuhn, Loeb &
Co., and therefore the brokers are I'M
able to secure single share for de-
livery. The situation has depressing
effect. Owing to the closing of the
New York stock exchange Americans
were absolutely stagnant, awaiting de-
velopments. j. Pierpont Morgan was
in London Saturday afternoon and
conference was held. 1t is hoped he
and Kuhn, Loeb q Co. will do some
thing to relieve the situation. In the
meanwhile there is considerable anx-
iety. Though the closing of the stock
exchange here was easier, quotations
mostly showed a marked advance.
Northern Pacific common was quoted
at an advance of 3Oh points, in CON
nection with the settlement.
The War Not Yet Over.
New York, May 10. With both the
stock exchange and the consolidated
exchange closed Saturday and with
practically nothing doing on the
curb Wall street was very quiet.
Although the exchanges were not open
for business, all of the larger broker
age houses had their clerks at work
Strengthening out the accounts Of
spectators and putting their books
in order. In the rush days from Mon
day to Friday none of the usual max
ing out of customers statements was
done.
Many spectators went downtown
to await the bank statement and to get
the London quotations for American
securities. At two p. m. London's
prices generally showed advances as
compared with the close at New York
Friday, the extreme rise being 10
points in Northern Pacific. Other
stocks generally were up, but United
States Steel common was three-eighths
and the preferred one-half lower.
III.
All interest in the financial world
remains absorbed in the great contest
for the control of Northern Pacific and
the rivalries that have been caused by
that battle. The heavy buying in
Union Pacific Friday provoked much
comment and Saturday the street
was wondering whether the fight of
the railway giants was to be trans
ferred to that stock again. The high
price for Northern Pacific in London
was taken by many as Indication that
buying for control of the property was
still going on wherever the seller had
the stock to deliver it. It was learned,
also, that at the time Kuhn, Loeb &
Co. were settling with shorts Friday
at $3.50 a share they were paying the
same price over the counter to all who
offered the securities for instant de-
livery.
Opinion on Recent Combination.
New York, May 13.-An interesting
5lACSISieW Oh Inc results OF Inc recent
large railway combinations has lately
been granted by Hon. Martin A. Knapp,
chairman of the interstate commerce
commission, to the Washington cor
respondent of the Journal of Com
merce.
There is no evidence he said in
reply to question, that the railway
combinations recently effected, or
those said to be in contemplation, are
in conflict with the act to regulate
commerce. So long as the roads re-
main different that is, independent
and competing they are forbidden to
pool their traffic or revenues; but
there is nothing in this law to prevent
their corporate unifcation of com
munity of ownership in their securi-
ties
Bank Teller Short in Accounts.
Washington, May 13.-Controller of
the (11rrpnnv no ca H..