Evening star., 1901-11-07
Selling of Northwest Pool Stocks
Unsettled the Market.
some GOOD BUYING OF CohLERS
Considerable Demand at the Close
for Pacific Shares.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, November T.-Early trading
this morning reflected profit-taking on a
large scale in the stocks which were most
active in yesterdays market. London
traded in upward of $1,000 shares. two
thirds Of which were sales.
The delay in announcing the exact place
OF settlement in the northwest caused
liquidation in speculative accounts and had
a disturbing influence on all parts of the
market.
Later in the day rumors Of an important
conference at the Grand Central station, at
which Mr.. w. K. Vanderbilt was said to
have been present, inspired new buying in
all parts Of the railroad list. The Wander
bilt interests in the northwest must be con-
Sldered II the permanent settlement of the
Northern Pacific controversy and the elimi-
nation of the causes leading up to it are
to be the outcome of the negotiations now
nearing completion.
The Vanderbilt system, it is to be remem-
bered. has plans for closer welding to-
gether Of all it's lines. and once this is done
there viii be an alliance as strong as The
one now being arranged in the northwest.
BY determining the rights of all parties IN
interest at this time, much mischief-making
material will be kept from intruding IN
future discussions.
The coal stocks came in for an increased
share Of attention. their splendid earnings
leading to the belief that the advance in
prices would make them the leaders of the
next advance. Reading and Erie were
marked up on this prospect, but consider
able stock was encountered at the advance.
The soft coal roads, notably Chesapeake
and Ohio and Hooking Valley, showed signs
or new demand
Rumors of a proposed consolidation of
the coal companies along the line of the
former property had some influence on the
buying.
The short interest in Missouri Pacific and
AtchiSon, with the aid of confident pool
buying, forced advances in these issues.
Good earnings came in to help the advance,
and the buying from banking sources
gained in force by an extension of the in
quiry from commission houses.
Southern Pacific, Baltimore and Ohio and
the Southern railway issues reflected good
demand, under which prices improved SUBJ
Stantially.
Covering in Sugar and Copper was a fea-
ture Of the midday trading, but the sales
at the advance had every appearance of
long stock from inside sources.
The steel stocks were in better demand
than heretofore, the London demand for
the United States Steel Company's shares
being especially pronounced in view of it's
seilng IN the railway department. All of
the independent compan nies rallied under a
mixed buying demand.
While the net result of the day may
be described inconsistent and irregular, it
Is certain that sentiment has changed in
favor OF higher prices.
How long it will continue, or to what ex-
tend it may be encouraged in view of the
present condition of the banks, is problem
atical. In few instances notably in ST.
Paui and Union Pacific. there was an effort
to prevent any OVERRIDING of the purely
speculative character of the ADVANCE. The
market can take care Of itself if the banks
are strong enough to finance the new busi-
ness ness @ put there is always the fear that the
$500 ,OO0,00 in loans may operate toward
the undO1ng Of numerous plans