The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-11-08
Sew York stock Market

New York, November 6.-Today's
| stock market was dominated by the
authoritative admission from va
rious quarters hat the basi had been
agreed upon for the settlement Of the
| Northern Pacific controversy, although
the reports of an early official an
| nouncement were deprecated, as it was
said the details remain yet to be ar
ranged.
The arrival from Europe today OF w.
K. Vanderbilt, who was named by MI.
Morgan as the arbitrator Oh
! any differences upon which the concn-
| iation board of directors might not be
able to come TO an agreement, helped
to incite the large speculative buying,
which was notable among all the trans
continental railways.
The dealings in Union Pacific and
St. Paul were on a scale to recall the
days of the stock market boom in the
spring of this year, and the resulting
rise in ST. Paul reached AS and in
Union Pacific AZ. The Union Pacific
convertible bonds were absorbed at the
same time on an enormous scale. In
Southern Pacific the rise reached IA,
Great Northern preferred IA, AtchiSon
23s and in Northwestern 3B. North
err Pacific preferred f1uctuated mar
rowly. thus suggesting that it's present
price is near to it's valuation under the
plan.
The southwesterns n some Of the
southern stocks afforded another CEN
ire of activity and strength, based on
the series of extraordinarily favorable
returns of gross earnings for the fourth
week in October. The Southern rail-
way stocks were also aided by the vote
of Cincinnati in favor Of extending the
lease of the Cincinnati Southern.
In three groups there were gains-in
Nashville, Chattanooga and st. Louis
of 80, st. Louis and San Francisco 3A,
Southern railway preferred rs; Mis-
souri, Pacific 2S; st. Louis Southwest
ern preferred 2 and the Denve and Rio
Grande stocks, Texas and Pacific,
Louisville and Nashville, and Southern
railway from rs to IA. The increase
in railway earnings for the fourth week
in October over those for the CORE
spending period of last year for Mis-
souri, Pacific reached % per cent, ST.
Louis and San Francisco % per cent.
Louisville and Nashville IA per cent.
and Missouri, Kansas and Texas II
per cent. There were other roads with
almost equally striking gains, but they
did not share in the advance. In fact
outside the stocks mentioned and a
few rather obscure stocks, the move
ment of the market was sluggish and
irregular, with no striking show Of
general strength until just at the last.
A NUMBER or SpeclaltleS were notably
weak early in the day, including Sugar,
Amalgamated Copper, Peoples Gas,
American Ice n Metropolitan Street
Railway, but except in Sugar and
Amaigamated Copper there were strong
~recOveries. In Pittsburg, Cincinnati
Chicago n st. louis preferred, Wells
Fargo, Pacific Coast, ST. Lawrence and
Adirondack, Chicago and Eastern Illi-
nois, Buffalo, Rochester and Pittsburg,
and Rutland preferred there were gains
of 2 to 6 points.
The additional gold engagements for
export had but a momentary effect on
the market, and the monetary situa-
alton fell into the back ground COM |
pletely as a factor.
The large dealings in bonds conferred |
In the Union PACIFIC and other convert
ible bond issues and speculative bonds. |
Total sales a value were Sc, $40, 900. |
United States bonds were all unchanged
on the last cal. The total sales of
sotcks were ], 026, 600 shares.