The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-05-29
THE MARKETS.
Wall Street Review.

New York, MAY 2s--Thcre was some show OF
strength and activity today in Union Pacific and
in Lackawanna witch had considerable synl'a
thcic effect in the RAILROAD list There was
some independent strength shown by number
" minor railroads and finally there was hctein
gcncous assortment Of minor industrias s,ccN
which advanced on the influence of individuni
causes not always disclosed Tho movement III
Lackawanna. coming on top OF its previous au'
vance Of late, carried the price mp today AS high
2ii. Tho fluctuations were rapid ana wiac
and the volume Of dealings was comparatively
small. so small in fact, as TO preclude the sup.
position OF buying for control in the open mar.
kct The explanation generally agreed upon was
that negotiations were on foot to secure large
holdings at private agreement, and that the b'u'
ding up of the stock represents efforts 10 put the
prices IN 10 prohibitye figures on the part OF
the insiders, who oppose a change OF contro''
That policy successfully pursued some tinc
since in the case of Delaware and Hudson al''
that stock showed some sympathy today with the
IarkaNapna movement. The coalcrs otherwise
were rather ouictcscc. being held in check by
the weak April statement of Reading net earn m
ings. Tile strength Of the Wabash, Missouri "a
,ihC and the Southwcstcrns was related TO inc
lackawanna movement. rs the supposed efforts
to secure control of the latter arc i'll the interest,"
" that group There was some large nuylhg po,h
Of Union Pacific and southern Pacihr, accom-.
panied by r,iinors that further large holdings OF
southern Pacific had been secured and would nc
applied as collateral for the Union Paciiic con
ycrtiblc bond issue in addition TO the SECURITIES
formerly held, The strength Ot AtthlsOn, Whl'li
sold cX.dividcnd,~ was attributed TO the April
showing of net earnings. The tobacco shares
fell somewhat into the background in the latt'r
part oi the day. but they were active ana au-
,aured in the morning with persistence oi To-
cent rumors regarding the properties Inc au-
vance in the Colorado Central and Minneapolis
and st. Louis stocks was attributed To workihg
ont of project hy the Illinois Central to enter
tire ChcagoSt. Paul field. Chicago indianapolis
and Louisville and Dcs Moincs and Fort Dodge
showed comprehensive strength. There was also
strength in the American Car and Foundry
stocks, Chicago Union Traction, Brooklyn TRANSIT,
international Power. Standard Rope and Twinc,
Amagamatcd Copper. General Electric and Con
soidatrd Gas. The formal statement that the
banking houses rcprcscnting the contest Tor con-
troll of Northern Pacific had given orders to ic'
licvn any of the London shorts who were honestly
unable TO make delivery. by paying los Tor tncr
contracts attracted attention. The wording of
the announcement accepted as indicating
the continued cagcrncSs to secure actual dcIiN'
cries of the stock. The plans OF the Illinois Cen.
trail to advance further in the granger field and
a purchase of a large interest in the Ohio soft
coal field reported to he for account III the Gould
interests, were minor incidents that were thought
To have possible significance on the question
nt an agreement between the two contcnding IN
forests. The engagement of Sl,5Oo.oOO gold Tor
exports was not known until after the close.
Total sales. 6l2,0O0 shares.
Wabash dchenturcs Rs and Standard Rope IS
were strong and active. The railroad bond mar r.
kct generally was dull and irregular. Total
sales par value, S3..sO,o00.
United States rctnudng > advanced = ana new
As !. per cent. on the last call.