The Washington times., 1901-10-24
ST. PAUL SHOWS STRENGTH
Trading Concentrated in This
Stock aud Union Pacific.

The Entire Market Governed by the
Northern Pacific Situation The
Advances in the Leading stocks
Extend Finally TO other Quarters.
NEW YORK. Oct 2S-Today's stock
market was plainly, and, it might be said,
exclusively governed by the more cor
rect views regarding the general state of
affairs grouped under the head Of the
Northern Pacific situation The stocks
directly and more or less indirectly con-
cerned with that situation were in all re-
spects the leaders Of the market. Cool
headed observers of the situation have
all along been Of the opinion that not
wthstandins the apparent difficulties in
the way Of an amicable settlement Of the
Northern Pacific problem, solution of
the question would eventually be reached,
and upon amicable lines
1t was said today and with apparent
authority. that the points at issue be-
tween the various parties in interest
would be settled by arbitration and that
the decision of the referees would be
handed down by the close Of the week.
The stock market accepted, at any rate,
statements 10 this effect as authentic
and in consequence very heavy buying
orders appeared in Union Pacific and
St. Paul. and the strength OF these stocks
extended gradually to the remainder of
the market.
1t was a matter of some comment that
Northern Pacific was lethargic in the face
of the spirited advances which took place
in Union Pacific and St. Paul. The trad
ing was, however. so concentrated in the
two stocks in question that the remainder
of the market suffered somewhat in at
tention in consequence The very heavy
trading and the strength in st. Paul were
based on the belief that the property
would occupy prominent position in any
adjustment of the railway situation in
the Northwest, and it seemed to be the
common opinion that much closer rela-
tions were apt to be established between
the Union Pacific and st. Paul com
panies. The ideas in this respect, how
ever continued very indefinite. anI it
might be noted that Chicago and North
western common and preferred were
again exceedingly strong II is difficult
to believe that any change in the relations
which have so long existed between
Union Pacific and the Northwestern prop
critics would be involved in any adjust
ment of the railway situation IN the west,
no matter what might be its scope.
The market opened strong, but subse-
uueutly reCedeG moderately upon the de-
velppment OF pronounced WeakltsS III
Amslgamated Copper. The influence of
the latter stock WAS comparatively tran
silent however, and subsequently, prices
advanced under the lead Of The stocks al
ready cited. Sun as noted, the move
ments in the railway list, apart from 81.
Paul and Union Pacific were not very eN-
tonsive Other notably strong features
were the Minneapolis and St Louis
shares. New York Contra and the other
Vanderbilt issues. and Southern Railway.
The London market was generally heavy,
but American shares she oHcd COMPARE
tive strength, and foTeiel houses re-
versed their recent attitude toward this
market, although their purchases were of
nothing more than nominal proportions.
There were few movements OF inter, st
outside tire railways and the already
Eoted decline in AInalgamated Copper.
The fluctuations in the traction stocks,
and in the industrials. limited and |
Insignificant, and nothing of interest re
suited from the trading in The specialtics.
Pressed Steol Car was firm in advance Of
the dividends on those issues. Money mar
ket and foreign exchange conditions We're
not essentially altered. but this weeks
heavy shipments of currency to New Or
lears. resulting from the freer movement
of the cottoa crop, would appear to fore
shadow some change in both directions.