Evening star., 1901-06-01
Cessation of War on Northern Pacif, =
Has Good Effect.
BULLlSH TONE TO STOCKS
Steel Issues Particularly Showed
Decided Strength.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Scar.
NEW YORK, June 1.-The settlement Of
the Union Northern Pacific controversy
was the dominant influence In today's
stock market The elimination OF a factor
containing such possibilities for disaster
resulted in restoring confidence TO a des
gree almost equal to the ante-panic period
London was again a factor, buying Hber-
ally in the American department and ex-
pressing unusual satisfaction with the
restoration of harmony In American rail-
road and financial circles.
The contest for control of Northern Pa
cific. considering the prices recorded at one
time. has had fewer serious results than
anything OF the sort recorded in local finan-
cial history
splendid bull market was spoiled by the
selfish schemes Of the contending factions
and the only result obtained was to demon
strate the fact that big interests are not So
easily crushed as they were a decade or
more ago.
Recognizing the suicidal results Of the
contest the two interests have been forced
into settlement which must make for
good. The great community of ownership
plan has come to stay and the recent SET
back has served to make the plan more
popular. With money easy and earnings
up to record proportions there would seem
to be no reason Tor the carrying out of
every big market enterprise originally un-
dertaken.
In the future the best stocks alone should
be given prominence, and no repetition OF
the events of May should be permitted
Discrimination pays at all times. but the
present market demands the exercise of
that virtue to the fullest degree The
strength of the Steel stocks and all the
Morgan enterprises was one of the features
Of today's market.
This fact is significant because in spite
or the wide fluctuations recorded in this
group OF stocks, while under pressure. the
integrity or the enterprise and the wOa al1r-
ful recuperative ability displayed have
gwen them most conspicuous place I'm the
security markets. There viii be much talk
of early dividends on Steel common, and II
labor troubles are restricted such talk is
likely to be well founded
The southwestern group is coming rapid
ly to the front again and should be a con-
Spicuous feature OF the summer market
Missouri Pacific, Southern Pacific Texas
Pacific and Wabash are almost certain to
absorb attention later on.
The Vanderbilt group will 20 along con-
serFatiNely, 1t is thought, and the original
plan Tor transcontinental line will be
pushed toward early completion.
Inc declaration OF a dividend of Ia per
cent on Colorado Fuel, the first since 1898
was an encouraging development in the in
duStrlal group. Cross currents are notice
able in Sugar and the fractions but good
Judges see no occasion for concern and be-
leve that these issues VIII be as strong as
the general market.
The bank statement reports loss Of
SS5.925 in the reserve and an increase of .
% il2.SOo in loans. The banks have gained
S2iS5ooo in lawful money. and the deposits
are larger by S1l.2S1 300. This showing is
for five days and is generally regarded as
being satisfactory