The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-07-19
THE MARKETS.
Wall Street Review.

New York. July ls.- Speculative judgment on
today's stock market was unsettled and IN CON
elusive under the influence OF the cratic gyfa.
tions Of the Union Pacific. St. Paul and TO a
lesser extent other railroads Immediately al
fected by the Northern Pacific settlement an
nounced late yesterday The influence S o.,d o, ,ss
buying OF the stocks OF the railroads affected
and OF tho steel stocks The simultaneous pur..
chases Of tsrion Pacific AZ the opening were on
ten thousand shares at 1924 to loth, compared
with l02A last night, and Of st. Paul eight
thousand shares at 1855 to los, compared with
lG3A last nisht. United states Steel was also
dealt in to the extent OF 5000 shares, varying in
prices from i0la to ilh. compared with to% last
night The price Of this stock at the opening
was the highest of the day, and II was under
steady pressure through the mutations OF the
market getting down nearly point under last
night, and closing at a fractional net loss. The
whole market felt the effect almost Immediately
Of enormous realizing sales and the successive
declines suggested the conjecture that inside in.
torests which bought stocks yesterday were
selling out to take profits. The belief prevailed
in the board that the large capitalists who sup.
ported the market on Monday and Tuesday by
buying practically all offerings ot the leading
stocks were tightening their load. taking ad-
vantage OF the effect OF me Northern Pac,hc
agreement to reduce their holdings, The rather
palpahle manipulation Of the market and the
circulation of vague intimations that further dis
closures were coming Of additional arrangements
under the Northern Pacific settlement added to
this impression. Rather frank admissions were
forthcoming that the announcement OF the North
Pacific settlement was timed with view 10
quoting apprehensions and checking the uneasi.
ness in the stock market against the earlier de-
Cison of those interested 20 withhold the an.
nouncemcnt until a later period This gave color
to the belief that the policy thus adopted to
rally the stock market had in view well the
moral effect upon the strike of steel workers
Of an advance of the steel stocks These con-
sidcIationS served 10 take the edge of the an.
nounccment Of the Northern Pacific settlement
was late in the day when Union Pacific began
| its final upward movement. The demand for
the stock was apparently Unsuitable, blocks Of one
thousand to four thousand shares succeeding each
| other in quick succession Every effort was 50
apparent to bid mp the price o the stock. II
touched 100 before the Cusc and st. Paul was
| lifted 10 lGSL. and southern Pacific TO So The
market rallied in sympathy hut did not generally
| get back TO the hest. Chicago and Northwestern
| rose =, and General Electric Si5. The huoyant
rise in Union Pacific revived the belief in fur.
| thcr developments in tho community ~ interest
plan in the west The closing foversh and
| irregular below the best Total sales today,
1027, 200 shares.
| Tho railroad bond market was active and
] continued slightly irregular in spite Of late
| improvement Total sales, par value, s., go 600
| L.. ). bonds were all unchanged on the last call.
| The following quotations are furnished TIT
| Tribune by VI. 8. jordan & Co., rooms 7O5.7nS
Nears building, Scranton, Pa. Telephone 5Oo3: