The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-23
ERIE STOCK MARKED Up
RENEWED RUsH0Rls OF RAILWAY
COMBINATIONS MADE 1T CEN
TER OF INTERE EST
DULL DAY IN, WALL STREET
Dealings in the GENERAL List Were
Largely Professional, and Price
Changes Weresf6r the Most
Part insignificant.

Closing.
Wednes Tues
can money New Ypltk fll, 2h-44 40
NEW YORK, May 22.-The stock mar
ket fell still further INTO apathy today
and was only relieved from seni-stagna-
ton by the movements in the Erie stocks.
Considering the present indifference OF
the speculative public to the market, the
volume of transactions In Erie must be
accepted as Significant. The profess ION II
traders. at a loss 10 secure even a frac-
tional profit on turn in the market
flocked to the Erie crowd as the meeting
progressed and added their speculative
operations to the other buying of the
stocks. The opinion. however, gained
force on the exchange that the move
ment marked resumption of operations
for the extension of influence and con-
troll of existing railroad systems The
buying was attributed to Wabash inter
estS, and there are Sundry circumstances
which offered some confederation State
mentS were published this morning to the
effect that controlling interest had been
secured in Lackawanna in order to af-
ford an outlet to the seaboard for the
Wabash and the, Gould Southwestern
system. This evidently represented an
effort to account for the recent strength
CT Wabash and its Southwestern affil.a-
lions in the face of the disappointment
over the non-declaring OF a dividend on
Missouri Pacific 1t has been said for
several days past that the buying of
Toledo. St. Louis & Western stocks was
for Vanderbilt account. and 1t was claim
ed today that control had passed. It is
to be considered that these roads run
over closely related territory, and the
activity in their stocks favors the pre-
sumption that the problem OF their future
relations and control is being worked
out The strength of Chicago, Indianap-
oils & Louisville, and OF the Chicago
Great Western stocks may have had a
bearing on the same problem. The
strength of the bituminous coal carving
roads was directly attributable to the
declaration of a dividend OF IL per cent
on the common stock of Hooking VAL
ley the first in 1dts history. The
folk & Western and-Chesapeake & Ohio
all moved upward in syns1athy. The
strength of the Readings was called in
sympathy with Erie IN, its character as
only one of the group TO maintain its al
vance This stock Closed at the highest
al gain of 2h. So1neiof the individual
blocks purchased rangns high as 500
shares. a feature Of the day was q sale
Of Northern PaciIic~aat III, compared
with f561a last night but the stock drop
ped back again to l60, An unpleasant
Impression was produced by q suggestion
that the authorities Of the London stock
exchange would rescind the SUSPENSION OF
rules for buying in of Northern Pacific
stock against the shorts At the last
settlement, it will 2be remembered, the
by allowing the shorts to carry over at
fixed price. But this left their con-
tracts still uncovered, and the buying IN
of shorts for the next settlement, which
occurs next week, would be the occa-
sion for renewed uneasiness. This sug-
gestion and the announcement of $500 600
exported gold had a part in the early
heaviness of the market The fact that
there were no additional gold engage
ments, contrary to expectations, may
have had some influence in the later
hardening Of prices, but the vigorous ad-
vance in Erie was the main factor A
number of minor industrial stocks were
strong on very palpable manipulation.
Des Moines & Fort Dodge was lifted 2%,
and the Wisconsin Central stocks 292A,
respectively, for the common and pre-
ferred. In the general list changes are
small and somewhat mixed.
The bond market was not very active,
but showed some strength. Total sales.
par value 81, $4,000 United States new
Is declined 4 per cent on the last call.
STOCKS.
Furnished by Charles H F. Smith &
Co., members of the New York Stock
Exchange, Pioneer Press building, VINO
have direct wires to Chicago and New
York. Closing prices are bid.