The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-12
STOCKS ARE ACTIVE
EY
INTEREST CENEERS IN TRANSCON-
TINENTAL RAILWAYS, ST.
PAUL IN THE LEAD
SOME NoTABEE ADVANCES
Great Northern and Northern Pacihc
Are Flat ON Denial of Forma-
ton of Stock Owning
Company. e
Closing.

t
Friday. Thurs.
Cali money, New York. $3.50 S-SN
NEW YORK, Oct. u.-Great speculative
activity continued in the stock market
today, but it was conferred to a large ex-
tent in the transcontinental stocks, led
by st. Paul, which rose 8A points over
last night in the late dealings, and clos
ed 1 point below the best. The appear
anCe of the market suggested the days
of last spring, dear to the memory of
the professional Spectator, when the
absorption of a new railroad system or
a new transcontinental combination was
rumored each successive day and readily
accepted in the eredulous mood of the
speculative world. The activity of to-
days market was largely due to the
crop of rumors revived by yesterdays
various reports of the proposed plan for
consolidating the control of Northern Pa
cltic, Great Northern and Burlington in
one proprietary company. AS a matter
of fact, the official disclaimers this
morning of the accuracy of the published
reports and the prompt relapse in the
prices of Great Northern and Northern
Pacific had a somewhat chilling effect
on speculative sentiment. The general
accord OF the current rumors in allowing
that the stock of Northern Pacific itself
was not yet provided for in the plan
the alleged provision for the retirement of
Northern Pacific preferred, through
which the control by the Hartman in
representatives of Hartman interests
that that syndicate was not a partici-
pant IN the plan, seemed to open up
vista of renewed contention. AS the
day progressed there was a revival Of
old rumorS that Union Pacific was to
acquire st. Paul in exchange for new
bonds. In the presence of these pleasant
old associations speculative enthusiasm
seemed to take fire. The buying of ST.
Paul was quite in the old prodigaI fash
ion of outlay, and Union Pacific, South
ern Pacific and Atchison were conspicu-
Gus followers. The extreme advance in
Union Pacific was 23s and in Southern
Pacific "a. Rock Island was up 4
points at one time on light dealings.
Missouri Pacific by no means kept pace
with the other transcontinental railroads
and the Gould stocks were lag
CARDS The SOuthwas terns We're affected
by poor earnings for the first week in
October. Here and there in the railroad
list and the prominent industriaIs there
We're advances of point or over. but
the activity and strength of the market
were by no means generally well dis
tributed. The coalers and the so-called
Morgan stocks, including the United
States Steel stocks, seemed to be little
affected and moved narrowly. EXpecta-
ton of a good bank statement was gen
eral, founded more or the tone of the
money market than on actual iIIforma-
ton, and the showing will depend on
the loan item, changes in which are
necessarily obscure. Thu feeling is grow
Ing hnat present resources OF the bank
are likely to prove sufficient to meet the
requirements of the interior for cur
rency. The movement by export this
week fell off over. $4,000 from that of
last week. This feeling was an in1u-
ence in the. strength of the market.
commission houses reported little evil
dence of outside interest in the market,
and the pit buying was attributed to
large speculative interests.
The railroad bonds market was quite
active ana showed an 70 increa sing
strength The total sales, par value So
$4,000. United States IS coupons advanc-
ed a per cent on the last call.
STOCKS