The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-11-08
TRADE LIVELY
and BROAD
Dealings in Stocks Yesterday
Were Not Confined to so Few
Lines as They Were on Wed
neSday and Were Larger
MANY SOUGHT TO
REALIZE ON HOLDINGS
Fall in Northern Pacific Preferred
Raised Question as to Report
ed Settlement Though ConviC-
ton Remained Strong That Ii
Had Taken Place

New York, Nov. 7-Today's stock
market was much broader and more
diversified than that of yesterday. and
dealings were not so congested in a few
of the leaders. The aggregate dealings
rose well above yesterday to near the
million and a quarter shares mark.
There was enormous realizing in the
stocks which led the advance yester-
day, especially in Union Pacific and st.
Paul, which ruled below yesterday $
closing level practically all day, falling
at one time rs for St. Paul and rs for
Union Pacific.
The heaviness of Northern Pacific
preferred, which fell rs on compare
lively light transactions, taken in con-
nection with the reaction in the two
stocks named, it would be supposed
might give rise to some doubt as to the
Northern Pacific settlement, the more
So as no authorized statement of the
terms of the settlement, or even of its
actual existence, can be had from any
source. But the conviction remains
Strong in speculative circles that the
agreement is in fact perfected, although
nothing but vague limitations can be
had from insiders on the subject. The
confederation offered by the tape Is
considered conclusive, and also that
Union Pacific and St Paul are to ben
eft substantially by the management.
The selling Of these stocks, therefore,
was accepted as due to mere realizing
of speculative profits, while the market
continued to advance with vigor at
other points.
The forcing to cover of the bear in
terest in some Of the specialties recent
ly under pressure was an important in
fluence in the advance, conspicuously
so in Amalgamated Copper, Sugar and
Peoples Gas. Among the Trans Con-
tinental stocks, the Atchisons were the
only ones to continue the advance with
any great show of energy The common
rose at one time 23s, and Southern Pa
cific got IL over yesterday, but lost 1t
all on the reaction. A rise of 31a in
New York Central was a feature of the
market, and lifted with it a number Of
the Junior Vanderbilts. Lately current
rumors of a pending concentration Of
the system, and increased distribution
Of profits were revived in connection
with the movement.
The coal carrying roads were in no
table demand, and show gains of l to
2 points. The United States Steel stocks
developed strength at gains of a point
for the common and rs for the pre-
IefreQ on the glowing accounts of the
activity in the trade coming from trade
authorities. The rise was met with very
heavy realizing, and the movement be-
came very general before the close. The
advances were curtailed in all points
and entirely wiped out in a few cases.
The payments by the sub treasury in
redemption Of bonds and for the de-
post Of Australian and Klondike gold
at Pacific Coast Points are so far off
setting the drain on other accounts
that the money question is kept in
allegiance. The very substantial recup-
Grafton for the week disclosed by the
Bank Of France, also served to relieve
apprehension over money affairs, as
Paris has been the real centre of at
traction working toward depletion Of
gold supplies a other points. The mar
ket closed easy under the influence Of
realizing
The railroad bond market was very
active, but the reaction in Union Pacif-
ic convertible bonds made an otherwise
strong market irregular. Total sales.
par value. $6,Sl0,00O United Sta*es
bonds were all unchanged on the last
call