The sun. (Wilmington, Del.) 1897-19??, 1901-05-09
STOCK MARKET UPSET
Northern Pacific Fluctuates In a
Remarkable Way.
1T JUMPS FROM l55 TO 100.
But In a Very Few Minutes Tumbles
us Low ms las. RalIyIng Later
On - other stocks Drop
Many Points.

New YORK, May "a corner OF
greater magnitude than Wall street has
experienced since the days of the bold
operators of n past generation startled
the entire down town district. North.
ern Pacific common. in which battle
between some of the ahlest iinanciers
in the country is proceeding. rose from
l55 to $50 and then dropped off to HI
in the first few minutes of business. 1t
later rose as high as 10. closing at 100.
Men who had been caught short of
the stock, mad with the tremendous
losses that confronted them, bid wildly
for it, seeking to get ii at any price.
In London the price had dropped ten
points before the opening here. This
was a ruse on the part OF manipuators
on this side to get stock. Ii complete
~ outwitted many of the local oper
aiors.
Nothing else was talked of i'm the
financial community except the cor
ner." Not one of the great movements
which have occurred in the past three
months has attracted n tenth Of the at
tention given the current one in North
ern Pacific Men who never look mt a
stock ticker We're mailing friends on
the street and in office buildings and
asking for the latest price on Northern
Pacific.
While the first rise was going on the
scenes around the Northern Pacific post
aud in Ill parts of the Stock Exchange
We're of n tImutuous order seen only
once in IL lifetime.
other stocks UnI0aded.
The collateral consequences of the
open war disclosed between the most
powerful financial. interests in the coun-
Try caused acute alarm among the
large interests long Of the market on
the suppOsition that the great financial
interests Of the country are working in
accord 10 secure a harmonious com
nllni:y of interests throughout the en-
tire world. The Hartman interests.
supposedly backed by the Goulds and
Standard Oil interests in bitter war
fare with the Vanderbilt lorgan-Ilill
interests. offered alarming suggestions
10 the heated imagination OF spccrla-
tors.
While shorts We're bidding any prices
for Northern Pacific. spectators. there
fore. We're unloading other stocks all
through the list. Northern Pacific pre-
ferrcd broke = points with the rest Of
the market: Canadian Pacific broke Il ].
and then rallied "a. Opening losses
in other stocks ran from 10 81. Tn
ION Pacific rose Il fraction. broke :, ana
then came back ,. measuring the hopes
Of advantage TO the stock from the
! Northern Pacific coup
Later the whole market broke with
violence again. st. Paul. Rock Island
southern Pacific ana Missouri Pacific,
which had risen from to 3 points,
made wide declines. Union Pacific
Slunprd g, st. Paul Ga, Rock Island
3at. Atchison ~. Southern Pacific 3,
Missouri Pacific d. Canadian Pacific III
aud many other stocks from | to 3
points, Burlington rchoundcd to 1913
l'ut lid not hold
Panic Conditions.
\ brief rally in the market met with
heavy selling again, and prices slumppd
| ~ such u rate during the last hour that
panic conditions developed
Holdings We're thrown over without
regard 10 price. and declines of one
| rule IN the active stockS There were
! occasional fev"rsh pausrS in the down
| ward course due 10 desperate attempts
/ 70 check the liquidation. Int their d,l-
/ ration was only momrniary.