Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1901-05-10
TO-DAY'S TELEGRApHIC NEWS

Easier Money and steadier Market.
New York, May 10-The big corner
10 the Northern Pacific fight is broken.
Kuhn, Loeb & Go. representing the
Hartman interests, will settle with ell
their shorts at $50. Many Wall street
men are bitter against the rival money
powers, who, In their ambitious
schemes to control the railroads of the
west, brought panic to the market and
ruin for thousands OF spectators.
Bankers who took advantage of the
situation to charge rulnous rates of In.
terest on loans came In for o share OF
the genera: Condemnation. AS high as
80 per cent was charged by some OF
these so.called "bloodsuckers'. Both
of the conflicting interests claim con.
troll OF the Northern Pacific road.
New York, May 10.-It Is officially
announced that the shorts 10 Northern
Pacific will be allowed to settle at $3.50
O share; that the loans made yesterday
amounting in the aggregate to $25, O0O,-
600, will not be called today, and that
| the rate OF interest will be marked
down materially below yesterdays rul.
ing rate.
David Lamar, broker, secured an
Injunction prohibiting Hartman, Hill,
Kuhn, Loeb & Co., ]. p. Morgan & Co.,
and the stock exchange from buying
shares OF Northern Pacific stock. The
action is without precedent In Wall
street. The Injunction proceedings, 1t
WAS announced later, were dropped,
Lamar and the interests being satisfied
that all shorts would be permitted to
settle at $50.
As the morning progressed, the feel
log OF confidence increased. There were,
| of course, some material reactions from
the early advances, but this was not at
ell unnatural. Dealings In Northern
Pacific was extremely light. At 1l:15
q email sale OF 100 cash was recorded.
Easier money today was big factor
10 settling the market to steadier gait.
1t is officially announced that all
clearing sheets have gone through per-
| fectly, and that ell checks have been
honored. This means that ell brokers
passed safely through the crash of yes
terdsy and that there will be no fall
ures.
New York, May 10.-With the res
toration of confidence period of dull
ness set In. There have been compare.
lively few transactions on change, and
not much speculation. Brokers, as q
rule, are busy 10 readjusting their
stock accounts. Soon after noon 1t was
stated that all the shorts 10 Northern
Pacific had completed their settlement.
Two hundred 10 cash was paid about
this time for small block of Northern
Pacific. II was said in the crowd that
the stock Ia wanted and bought at
every possible opportunity by the
rivals in the hope of securing or clinch-
ing control. All talk of weak houses
has died out. Chicago houses have
been especially prompt in sending large
amounts of securities as additional mar
GIGS. Money on call at noon was
loaned at 6 per cent. Some business
was done early at 20 but this has gradu-
ally been shaded to the legal rate.
Jackson Bros. at / Wall street, mem.
bers OF the Consolidated Exchange, an.
nounced their inability to meet obliga-
tons and assigned. A. F. Hilton & Co.
another Consolidated Exchange firm,
announced it's suspension this morning.
In the early afternoon the stocks
showed renewed strength. The list
generally showed rapid and substantial
advances. At 1:30 p. m. values In many
instances were the best of the day. The
boom In Union Pacific was feature,
The total sales OF stocks at noon today
were $50. 900 shares.
New York, Msy 10.-The end OF the
fight for control OF Northern Pacific is
not in sight. 1. can be stated with au.
thority that the rival interests are 10 a
deadlock from which q change can
hardly be expected before the arrival OF
J. P. Morgan from Europe. 1t is I'M
derstood that Mr.. Morgan will hurry
his departure to the United States.
The agreement Of last night was wholly
10 the nature OF q truce. Both sides
still maintain this afternoon they have
control.
New York, May 10.-The market at
2:15 p. m. was active and irregular.
The total sale of stocks up 10 3 o'clock
were l ,542, 200 shares.