The age-herald., 1901-05-29
SEE-SAW SESSION IN THE STOCK LIST Son. Show of Strength in the
 Union Pacific Again THE FLUCTUATIONS SMALL Formal Announcement Was Made That the Banking Houses In Control
 of Northern Pacific Would
 Go Easy On Shorts.
THE FLUCTUATIONS SMALL

New York, May 2S.-There was some show of strength and activity today in Union Pacific and in Lackawanna, which had considerable sympathetic effect on the railroad list. There was some inde- pendent strength shown by number of minor railroads. and finally there was Heterogeneous assortment of minor indus trial stocks which advanced on the in- f1uence of industrial causes not always disclosed. There was besides natural re- covery from declines of yesterday under the sec-saw operations, of the profess sional group of small fish who continued largely in control of the market. This movement in Lackawanna, coming on top of it's previous advance of late, car ried the price up today as high as 2A The fluctuations were rapid and wide and the volume of dealings was compara- lively small. so small in fact, as to pre- clude the supposition of buying for con- trol in the open market. The expfana- tion generally agreed upon was that nego- tiations were on foot to secure large hold ings at private agreement and with bid- ding up of the stock represents efforts to put the prices up to prohibitive figures on the part of insiders who oppose change of control. That policy was sue cessfully pursued some time since in the case of Delaware and Hudson and that. stock showed some sympathy today with the Lackawanna movement. The coal CTS otherwise were rather quiet; the mar ket being held in check by the weak April statement of Readings net earn .4. zf 1A Nn hn ah Missouri Pacific and the Southwesterns generally was related to the Lackawanna movement as the supposed efforts to con- trol of the latter are In the interest of that group.
 There was some large buying both of Union Pacific and of Southern Pacific accompanied by rumors that further large holdings of Southern Pacific had been se- cured and would be applied as collateral for the Union Pacific convertible bond issue in addition to securities formerly held. The strength of Atchison, which sold ex-dividend was attributed to the April showing of net earnings. Tobacco stocks fell somewhat into the back ground on the latter part of today but they were active and continued to advance in the morning with a persistence of recent rumors regarding the properties. Tho advance in the Iowa Central and Minne- apolis and St. Louis stocks was attributed to working out of a project by the Ill., inos Central to enter the Chicago-St. Paul field. Chicago. Indianapolis and Louisville and Des Moines and Fort Dodge showed conspicuous strength and there was also strength in the American Car and Foundry stocks, Chicago Union Trac- tion, Brooklyn Transit, International Paper, General Electric and Consolidated Gas. The formal announcement that banking houses representing the contest for control of Northern Pacific had given orders to relieve any of the London shorts who are honestly unable to make delivery by paying for the present figures, tided over many there.
 The engagement of $155,O0O gold for ex- port was not known until after the close. The railroad bond market generally was dull and irregular. Total sales par value $3, ,7S0 900, United States refunding 2's ad- vanced 4 and new As 1s per cent on the last call.
 Money on Call.
 New York, May 2S.-Money on call