Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1901-05-14
lE[ WAR NOT YET ENDED.
interest of Financial World Still
Conferred in Northern
Pacific Stock.
INDICATIONS Of THE LONDON MARKET.
Every Share In That City liz Held by
the Morgnns md Kuhn, Loeb ~ Co
-IntimatIon That Fight Amy Re
Transferred to Union Pacific Rait-
way stock

London, May ia special meeting
of the stock exchange committee mas
been summoned for Monday morning
in the hope of reaching a solution OF
che difficulty in which operators ana
brokers who have given calls for
Northern Pacific for the end OF May
and July find themselves. Ii developed
Saturday that every share here is held
by the N[organs and Kuhn, Loeb u
Eo., and therefore the brokers are I'M
able to secure a single share for de-
livery. The situation has depressing
effect. Owing to the closing of the
New York stock exchange Americans
were absolutely stagnant, awaiting de-
yelopments. j. Pierpont Morgan was
in London Saturday afternoon and
conference was held. 1t is hoped he
and Kuhn, Loeb & Co. will do some
thing to relieve the situation. In the
meanwhile there is considerable anx-
iety. Though the closing of the stock
Exchange here was easier, quotations
mostly showed marked advance.
Northern Pacific common was quoted
at an advance of 3oHs points, in con-
nectlon with the settlement.
The War Not Yet Over.
New York, May 13.-With both the
stock exchange and the consolidated
exchange closed Saturday and with
practically nothing doing on the
''curb," Wall street was very quiet.
Although the exchanges were not open
Cor business, all of the larger broker
age houses had their clerks at work
STRENGTHENING out the accounts of
spectators and putting their books
In order. In the rush days from Mon
day to Friday none of the usual maxi
ing out of customers statements was
done.
Many spectators went downtown
to await the bank statement and to get
The London quotations for American
Securities. At two p. m. London's
prices generally showed advances as
compared with the close at New York
Friday, the extreme rise being Is
points in Northern Pacific. Other
stocks generally We're up, but United
States Steel common was three-eighths
and the preferred one-half lower.
Illinois Central showed decline of
~.
All interest in the financial world
remains bsorbed in the great contest
for the control of Northern Pacific and
the rivalries that have been caused by
chat battle. The heavy buying in
Union Pacific Friday provoked much
comment and Saturday the street
was wondering whether the fight of
the railway giants was to be trans.
ferred. to that stock again. The higf
price for Northern Pacific in Londo1
was taken by many as indication tina
buying for control of the property was
still going on wherever the seller hat
the stock to deliver it. 1t was learned
also, that at the time Kuhn, Loeb
Co. were settling with shorts Friday
at $3.50 share they were paying the
same price over the counter to all who
offered the securities for instant de
livery.
Opinion ON Recent Combination.
New York, May 13.-An interesting
interview on the results of the recen
large railway combinations has latel.
been granted by Hon. Martin A. Knapp
chairman of the interstate commerce
commission, to the Washington cor
respondent of the Journal of Com
nerce.
"There is no evidence" he said il
reply to a question, that the railwa,
combinations recently effected, o
those said to be in contemplation, ar
in conflict with the act to regulat,
commerce. So long as the roads re
main different that is, Independent
and competing they are forbidden t
pool their traffic or revenues; bu
there is nothing in this law TO proven
their corporate unification of con
munity of ownership in their secur
ties"
Bank Teller Short in Accounts.