The age-herald., 1901-07-18
SEVERAL STOCKS
 RECOVER LOSSES On Report of Early Settlement ofNorthern Pacific SquabbIe DIRECTORS TO BE NAMED Weakness in Coal Lines Caused By the Strike Was Wiped Out By Dec
 larations of Dividends.
 Bonds Active.

New York July 17.-Ear1y knowledge of the terms of MT. Morgans letter nom- mating the members of the Northern Pa- cifc board of directors to fill the vacan- cies to be created was undoubtedly the cause of the emphatic recovery in prices of stocks today The first intimation of the news came to the street through the open buying of round amounts of various stocks by brokers generally understood to act for both the Morgan and Hartman interests. The fact of this buying was evidence of the satisfaction felt by both ls parties to the Northern Pacific contest over the terms of settlement provided for by Mir. Morgan's action, aside from the strong assurance felt from the personali- ty of the new members of the board that a fair and satisfactory adjustment would be secured. The additional recommenda- ton for the immediate reconstruction of the board rather than to await the regular meeting in October was additional cause for relief of the speculative mind. The conviction that an early settlement of the Northern Pacific controversy was at hand which permeated the market all the morning was crystallized by the rather spectacular device of a sale of 200 shares of Northern Pacific common stock on the board. The price was 11S the mute re- cord on the tape coming smoothly from the ticker with the quotation jumping in with the routine transaction of the mar ket was eloquent of the most disastrous peril that ever unsettled values in Wall street The last of the struggling trans actions in the stock which followed the Ia for oh in ha au flain the corner in the panic of May was made on June when the stock sold at 150 which was the settlement price of fered the shorts. Since that time the street has disappeared from the market and there has not been even nominal quotation for it. The reappearance of the stock on the tape was immediately followed by violent bound in prices. There were occasional pauses in the movement, but no notable recessions in prices. New buying orders came into the market in successive installments for enormous blocks.
 The stocks of all the railroads affect ed were naturally the leaders in the movement. but the strength spread to other parts of the market and all other considerations were ignored. A rumor that the steel strike would be settled ! within forty-eight hours entirely failed of corroboration, but the recovery in the
 
 ton. The news of the day pointed to additional recruits for the striking en- ployes of the anthracite companies, but the early weakness in the coalers was wiped out and the stocks made buoyant advances over the last night level ex- tending, in the case of the Erie first pre- fSferred SIS. The declaration of the first dividend in this stock of 11a per cent pre- S sumably for the half yearly period was a a source of help to the advance, although N there had been talk that the stock would be placed on a per cent basis from the out set. The extreme rise over last night in St. Paul reached 9al, Union Pacific, 91, Southern Pacific, AZ, and Atchison 4%. Rock Island rose 8 points in sympathy. There were many other advances in the railroad list and among them New York fractions of 2 to AZ, the southern, south western, trunk lines, coalers and less inn portant groups all being represented. Among the industrlals and specialties, United States Steel got 23s over last night. sugar, 4ss, General Electric and Colorado Fuel g. Northern American 3%, Western Union and Amalgamated Cop per 2h each. The strength of the corn market today ceased to influence the stock market. Sub-treasury operations included an additional large amount to the money market. New York exchange at Chicago fell rather significantly and abruptly from 25 cents premium to 10 discount as a result of the easier money s, conditions in New York. Stocks closed strong and active near the top.
 Bonds were active and strong. Total sales par value, 8, 100, 600. United States refunding 2s and the old As and new 4s advanced A per cent on the last call.
 New York Stock Market.