The times., 1901-06-10
STOCK MARKET COMMENT
The Street Looking for a Dull
Sum ner Market
Declining Prices Likely. But No
Crash Unless Something Jnfore-
seen Occurs ''HarmonH" in the
West-AtchisOn and Pennsylvania.

seen Occurs 'HarmonNr in the
West-AtchisOn and Pennsylvania.
NEW YORK. June 9.-The--period of
dulness has set in which always comes
with the summer season in Wall Street
There is no Indication at present how
ever. that there viii be any very serious
decline in stock prices. The outlook Is
apparently for a dragging professional
market, with the tendency in prices down
ward. Ali this. unless something uneN-
pected develops in The business situa-
ticn If another disagreement between
the big interests develops, Of if the crop
situation does not continue bright. there
may be "a bad slump before the autumn
recovery begins. Wau Street is not look
ing either for poor crops or for further
disagreement in the West.
The unfortunate chickering's over this
Western railway harmony plan have
been brought to-an end, and good feeling
appears now TO be thoroughly established.
The entrance OF Mir. Steele, of j. z. Nor
gan < Co. into the directorate of the
Atchison, Topeka and Santa Re Railroad,
following the selection of Mr.. Morgan as
the arbitrator of the Northern PayiTiC-
I-nioR~- Pacific controversy. is generally
viewed in the railroad world as complete
evidence of the restoration Of the har-
uony which preceded the unfortunate
Northern Pacific corner There is lit
tie doubt that the Northern Pacific board
is TO be reurganiZed with view to max
ing the present conditions permanent
There are rUmorS that some OF the mis-
chief-makers who brought about the
manic OF May are TO be severely dlScl-
plined, and a well-detined rumor has II
that the disciplinary measures viii be
extended by Mr.. Morgan, with the appro-
val of John u. Rockefeller, to directors
y no have occupied a very important posi-
tiOn in Wall Street affairs. Il is said that
some great surprises are in store for the
public.
There is now little doubt that William
X. Vanderbilt. who is recognized as one
of the most astute railroad men in the
country, is to become director in the
road and that his influence Will be eXer-
cised toward the establishment in the
ns-Mississippi territory Of the com
rlunity OF interests along the plans which
have been followed by the Eastern trunk
lines.
The Pennsylvania coterie has been
asked to put d director into the AtchiSon
board to represent the rather extensive
holdings Of the stock OF the company IN
the names OF Pennsylvania people Ihey
have declined. This apparently must
end the stories of Pennsylvania control
of the Atchison for a time at least There
is a growing belief that the Pennsylvania
wishes to restrict its operations TO the
territory east Of the Mississippi.
II is apparent that President Loree, of
the Baltimore and Ohio Railroad, in
tends to introduce Pennsylvania methods
into the management of the road, if he
does not actually intend TO operate the
line in very close harmony with the
Pennsylvania He has not only installed
his own general manager as general
manager Of the Baltimore and Ohio sys-
TEN, but he has brought with him from
the lines west Of Pittsburg four assistant
general managers 1t now seems prob
able that 4 number of subordinate OF
ficiaIs of the Baltimore and Ohio Rail
road will be superseded by Pennsylvania
officials 1t is to be hoped that Mr.
Lorev will not carry his weeding-out
process TO the extent Of removing any
of the very efficient officials OF the sys-
TEN. The Baltimore and Ohio Railroad
for the last three years has been one of
the best-managed roads in the country:
The train service now equals that OF
either the Pennsylvania or the New
York Central The courtesy and pollte-
ness of the employees of the road are
marked and indeed the trainmen Of the
other big trunk lines in the East might
learn some valuable lessons from the
ethics which prevail among all classes OF
the Baltimore and Ohio officials.
Transactions on the New York Stock
Exchange during the week just ended ag-
gregated 6g5l15. shares. OF this amount
40g47l4 shares represent the dealings IN
twelve stocks. leaving 2,956,443 shares as