The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-11-07
SETTLEMENT
NOW IN SIGHT
w. K. Vanderbilt Final Arbitra-
tor of the Northern Pacific
Controversy, Arrives in New
York from Europe
BOOM IN RAILROAD
STOCKS FOLLOW
But the Remainder of the Mar
ket Moved SIuggishIy and lr-
regular All Day, Some Special
ties Being Unusually Weak at
the Opening

New York, Nov 6.-Today's stock
market was dominated by the authori-
tative admissions from various quar-
tiers that the basis had been agreed up
on for the settlement of the Northern
Pacific controversy. The arrival from
Europe today of w. K. Vanderbilt, the
final arbitrator in the controversy
therefore took on great Importance to
the speculative mind and helped to
incite the large speculative buying
which was notable amongst all the
transccntinental railways.
The dealings in Union Pacific and
St Paul were on a scale to recall the
days Of the stock market boom in the
spring of the year and the resulting
rise in St Paul reached I rs and in
Union Pacific IL. The Union Pacific
bonds were absorbed at the same time
On an enormous scale. In Southern Pa
cifc the rise reached Ia, Great
Northern preferred l IA Atchison 3-S
and in Northwest 8 rs Northern Pa
cific preferred fluctuated narrowly, thus
suggesting that its present place is near
to it's valuation under the plan.
The SOuthwesterns and some of the
southern stocks afforded another CEN
tire Ct activity and strength, based on
the series of extraordinary returns of
gross earnings for the fourth week in
October. The southern railway stocks
We're also aided by the decision of the
Cincinnati election in favor of extend
ing the lease of the Cincinnati South
ern. In this groups There was gains
in Nashville and ST. Louis of IL; st.
Louis and San Francisco 8 Ia; South
ern Railway preferred 2 rs; Missouri
Pacific 3-S; St Louis Southwestern
preferred and the Denver and Rio
Grande stocks Texas and Pacific,
Louisville and Nashville and Southern
Railway from l is to ga.
The increases in railway earnings for
the fourth week in October over those
for the corresponding period of last year
for Missouri Pacific reached p per
cent; Louisville and Nashville Il per
cent and Missouri, Kansas and Texas.
70 per cent. There were other roads
with almost equally striking gains, but
they did not share in the advance. In
fact outside the stocks mentioned and
few other obscure stocks the move
ment of the market was sluggish and
irregular with no striking show Of gen.
eral strength until just at the close
A number Of specialties were notably
weak, early in the day including Sugar
Amalgamated Copper and Peoples Gas,
American Ice and Metropolitan Street
Railway but except in Sugar and Anal
gamated Copper there were strong re-
coveries. In Pittsburg, c. c. and St
Louis preferred, Wells Fargo, Pacific
Coast, Chicago and Eastern. Buffalo
Rochester and Pittsburg and Rutland
preferred there were gains Of to s
points
The additional gold engagements for
export had but a mOmentary effect on
the market and the money situation
fell into background completely as
market factor.
The large dealings in bonds centred
in the Union Pacific and other convert
ible issues and speculative bonds To-
tai sales par value S6.370,OO0. Z. s.
bonds were all unchanged on the last
call.