Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1901-05-10

Louisville and AtchlSOn ranged from
~ to 5 points and it seemed for time
as il orders were being given to sell
without regard to prices. This wild
ness was uninterrupted until about
10: AZ, when 1t seemed that for the
moment, at least, there was a dispo-
$sition to steady. The steamships Ma
jestic and servia, which Just arrived
from Europe; had III their mails large
blocks sof Northern Pacific common
for the account OF arbitrage houses,
which were delivered to them in the
early mail The stocks were made
ready for instant delivery on the ex-
change. but apparently they were not
{ q drop in the bucket, for the frantic
demand for the stock was not affected.
f Trying to Patch upsa Truce.
All interest centered on reports that
conferences were being held to patch
up truce preliminary to permanent
basis Of agreement between the rival
interests In Union Pacific and North
ern Pacific. 1t was generally ac-
cepted by the street that the Burling-
ton deal would go through, but that
it; would be arranged on some basis
satisfactory to the Kuhn-Loeb-Harr
man people. Indeed, it was said that
the Hartman syndicate was in a. po-
sition to dictate terms, but it did not
wish to proceed arbitrarily in the mat
ter. II was denied by Kuhn, Loeb &
Co., and their associates in the deal,
that they had had any desire to
Squeeze the shorts, all of their buy
ing having been done simply to Sc
cure Northern Pacific stock for voting
purposes and not a speculative man
euver. w. +ss-'.~- = .,.s. .'-5.
The most prominent figures in the
financial world were vitality interested
in the outcome of the unprecedented
situation disclosed by the Hartman
! people for control of the Northern
Pacific and throngs crowded the Of
fees of J. P. Morgan & Co., Kuhn,
Loeb & Co., the First National and
the National City banks, eagerly await.
Ing news. There were many confer.
ences Of various financial leaders
throughout the morning.
/ It was learned from an authorita.
/ tive source that up to II o'clock nc
compromise had been agreed upon
| but that the situation was more hope
full than it had been. : r.. -,
Meteoric Advance in N. p.
Trade in Northern Pacific became
SO wild and excited toward II O'Clock
that prices changed rapidly rs and 81
! o a Ia at
recorded and almost Immediately one
came out on the tape at 700, and a mo
ment later sale was recorded al
1000. 49, ~,r..:-
! Shortly after II o'clock all support
seemed withdrawn from the stock
market and prices began falling many
| points between sales. Union Pacific
went down rapidly and shares were
sold at As. The same moment 1000
! shares of Missouri Pacific were sold
at 81. Peoples Gas of Chicago, Brook
| 1yn Rapid Transit, Amalgamated Cop
per, the Atchisons and St. Paul tell
| off and sensational declines, the like
Of which had not been seen on the
street for many years.
| NJ ouA 0oAd oo"I1 W L1ts lAASS0u1l
Pacific to SO, Erie to 20, United States
Steel preferred to SO, Atchison prefer.
red to IS, Southern Pacific to 45
| Western Union to 81, and then almost
Immediately Amalgamated Copper
fell to 96, Erie to 81, Atchison com.
mon to 81, Union Pacific to sc, Rock
Island to 14S, Missouri Pacific to 8s
and Louisville and Nashville to 99
Then the tape recorded the sale OF
! 1900 shares of Union Pacific at 80
! In rapid succession came sales OF
| Union Pacific at 81, then rally to IS,
! Pennsylvania sold at 1s9, New York
Central 143, Peoples Gas 103 IL, Atch-
ison 65, Erie rs IL, Baltimore and
Ohio preferred 26 1-2. United States
Steel 30, Missouri Pacific 73, Anal.
gamated Copper 81, Manhattan IS,
Southern Pacific 49,, Atchison pgefer.
red 72, Louisville 90, Brooklyn Rapid
Transit u, Rock Island 14l, Steel pre-
t ferred 85, Baltimore and Ohio 96 s-4
and PEOPLES Gas 10l.
f.r. .-nE-- =