The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-02

Cali money, New York. esta-O Shz-6
NEW work. MAY Union Pacific
again furnished the sensation OF the
stock market today, ana the moNeIns st
of that stock and stocks Correlated WIN
II in the speculation dominated thS mar,
yet nra ctically all day. The STOCK showed
a good gain at the opening, ana was
firmly maintained all through the period
of sharp reaction %nen t down nrIces
AFTER the opening This reaction mad pc
come very general, When Union racine
began to advance by sucn strldes, ano
on such a succession or puylng orders
as was a surprise in even tnt, current
market. The advance was pretty STEADY
by fractions up to. E3, put from that
point the advance became. WHO, jumping
q point between sales sometimes; and
falling back as abruptly, but without re-
taxation in the character ,o1 the DuylEs
till the price touched ~ IRON tnat
point the stock fell back. by feverisn
fluctuations to 123, and thea vtbiated
wildly, as though the traders were at
tempting to find a level representing some
Undisclosed offer for the stock The Vio-
lent relapse in Union Pacific. came about
the same time as the ammo uncement Of
>the dividend action on AtchlsoI AS
there have been very .oeiiion -;
would be per cent, instead Of l12 per
cent, there were some disappointed tiad-
ers who sold the stock freely on the
announcement, causing relapse or
points The market looked at this time
as though it would lose all the advantage
derived from the squirt IN Union PACING,
and large part Of the feeoVerles which
had reached from l to 8 points from the
early low level were lost again. The gen
araI movement Of prices was so cratic
as to throw the speculation into confu-
sion and operators refrained from TAX
ing action, leading to practically the first
period of anything approaching dizziness
for the week. In the course of the after
noon, however, Union Pacific renewed
fC I'D q nlnRlt OrdQFIU a
we'll sustained manner than in the morn
ing, and very notable buying of North
ern Pacific supplementedDthts movement.
The great speculative noEGn ent there
upon resumed full swing, tho participants
showing undinlinished Industry IN seek
ing out new points of strength and bring
ing about a gene al csCmrtion Of
strength. Union Pacife's aate advance 4
carried 1t up to 49, an seSIreme rise Of
10 points. and New York ,Ceptral touched
1885,, gain of 81. Northwest gained "a
on the day. These adVanSeasl were appar-
emily sympathetic and gaye color to the
superstition that the Vandeibilts had Sc
cured control Of Union PAelffe. This sup
position was commonlyI accented this
morning, but the violent movements In
Union Pacific gave rise to,Su' mise OF q
renewed contest for the control of the
property. There is an appearance Of I'M
certainty even among the insiders as
to where the, actual control lies, but
that bold contest in the cpor market
Tor the control has been going on is now
an accepted fact, following upon the ac-
complishment Of the Burlington deal It
mates the speculative public quite ready
10 jump at any suggestion Of a consolida-
tion or Whatever magnitude. The condi-
lions prectpitated by the Burlington deal,
especially when followed by the Union
Pacihc operation. give very logical
OASIS for the snpposititn that rival rail-
i' systems are In a measure in an
unprotected position glnless nthey follow
With similar eonsoflatiDnsy The Penn
syIVanla dividend was also a disappoine-
ment to the more bullisn class OF specu-
latorS, as they had predicted With great
commence that it Would be supplemented
by an extra dividend, but cthe effect on
me stock was very slight, as IL anne after
the market fE, had fairly turned upward
again The additional engagements of
%,E0,e00 In gold for tomorrow's French
steamer came as q SURPRISE and tho
carer announcement was a large. factor
IN the chilling influence on the opening
STOCK market following as il did YES.
terday afternoons advance to G per cent
IN IN me cal money rate. The rate ran
from belated borrowers TODAY b,It tbo
speculative contfr gent were rot DISTURB cd
Inc disbursements Of government inter
ct, aha or corporation earnings incident
70 the first Of the month. are looked m
10 Feep the present needs Of the moneV
1earket supplied. There were neriods of
StirgLgtn today among the coalers. esre-
SLY SLY the Headings: railways in the
SSoutRera region, the Wabash &c Mexican
Geht.aI Baltimore &, OhiqpTIIinofs Cen
f Teat naE Western stern. Union. United states
Valley, International PeS,er' 'G54 enera1i
t,lf non ana ID number Of iainor stocks,
plained by anything else than the grn-
S bnsjns sEeef tbohy c9ndehce The days
low yesterdays level was sriU Of eb-
steel st6 PJFopq 3bdGE The bited States
tive moved very narrowiFE excenf{ F fo,
'n re-, crop after the cpening.1~
INC, me large business IN bonds TODAY wac
largely accounted for by. 2be extra %Ss
W nio3 F 9gsilRsss and price fluctuations in
with the stock Otherwise the ~ M 10y 10y
M sa1ss m ode ACTIVE end strong Total
the last call - PSi Ue'it On
sroa, L60
STOCK QUOTATIONS.
~ furnished by Charles II. E Smith e.
EScsb Members E;o Of the New York STOCK
nave nave direct wires to Chicago and Nv tU
YORK. Closing prices are bi6 ~'e"