The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-10-25
MAJOR OF MARINES MURPHY.
New York Stock Market

New York, October %. Speculative
activity today was largely confined
again to a few stocks, but the field Of
Chicago and Northwestern into st.
Paul, Union Pacific and Southern Pa
cific. An overwhelming proportion Of
the days total business was in these
three stocks. The aggregate dealings
rose considerably over those of recent
times, and as the day progressed the
market showed a broadening tendency
in sympathy with the sustaining
strength of the three leaders.
Chicago Great Western came conspic-
uously into the movement later in the
day and achieved an extreme advance
of rs on very heavy dealings, closing
at the highest.
Other stock reacted somewhat from
the top, influenced partly by a break
of Az in Chicago and Northwestern pre-
ferred. st. PauIS extreme advance
was 8 points, Union Pacific 3A and
Southern Pacific a point.
Among the stocks to come forward
late in the day were members of the
soft coal group and the southwesterns,
with gains of l to IL.
Sugar was also quite notably strong,
rising IA and international Power ad-
vanced 2E. The early weakness of the
market was quite generally overcome
by the late advance.
Amalgamated Copper, which fell two
points in the morning, closed with a
net loss OF only rs. There were some
very large selling orders in the stock,
and it was affected by the weakness of
raw copper in London. The local at
fractions and Peoples Gas were also
prominent in the early depression.
Glucose fell 22 and the preferred 2, I'M
der raids by the bears, and Hooking
Coal was forced down ~, with a sub
seQuent
There was some continuance in the
early dealings of yesterdays strength
il the Vanderbilts, New York Central
rising rs, Chicago and Northwestern 3
and the preferred ga, but the move
ment was not continued after the re-
action in the market.
There was no specific news to account
for the action of the market, but 1t
was undoubtedly based upon the as
sumption hat the negotiations now in
progress will result in the settlement
of the Northern Pacific controversy
with benefit to the whole trans-coEti-
mental railroad situation. The neglect
and tagging tendency of Great North.
ern preferred and Northern Pacific did
not seem to disturb this conviction.
Neither did the apparent contra fiction
found in the insistence on the retire
ment of Northern Pacific preferred and
the broad intimation from President
Hill that G-+dt Northern is to be Con-
suited in the matter of control Of the
Burlington system a. well as Northern
Pacific. These ;nsistencies are regarded
as the vantage ground to be shrewdly
held while the process of bargaining is
still going on, as it undoubtedly is.
Burlington vas quoted in the closing at
100 to 1913.
The continued movement Of currency
to the south and the prospect Of a $40
coo. 600 payment to be made this week
On account Of the P~ocahontas Goa con-
s~olidation did not seem to disturb spec
ulative sentiment. AS between 81. 000,-
600. and 1000, 0G0 Of this payment is to
be made to foreign owners. an add
tional factor is disclosed in the recent
firmness of the exchange market That
market was somewhat easier today,
Notwithstanding the advance in Lon
don discount on account of the loss of
more than s. 1000, 900 additional in gold
to the continent.
The bond market was quite active and
broad and prices as a rule advanced.
Total sales were s4,670, 900. United
States refunding 2is declined u and the
old As 3 on the last call. The total
sales of stocks today were 791, 400
shares.