New-York tribune., 1901-10-19
RONDS.
THE DAYS OPERATIONS IN STOCKS.

A further sharp advance IN Northern Pacific
preferred stock was the leading influence in
shaping the course of values in yesterdays mar
ket II was assumed IN ordinary speculative
circles that the operations IN Northern Pacific
reflected a satisfactory settlement OF the rail-
way situation in the Northwest. and IL was re-
ported that plans had been perfected by which
the Northern Pacific tangle would be unravelled
10 the satisfaction OF all concerned. An impress
sion prevails that efforts are making to retire
the preferred stock with full protection 10 the
so-caned Union Pacific interests IN the prop
erty involved. IL is certainly evident that the
Hartman party viii not permit any settlement
that win give an undue advantage TO the Great
Northern Railroad, nor will the Hartman party
permit Mr. Hill 10 dominate the Northwestern
and Western railroad situation A better SEN
timent over the copper situation played a part
,n the days recovery in values Activity in
Amalgamated Copper was due chiefly 10 Boston
buying. local interests showing little disposition
20 deal in an issue of the Amalgamateds S
reputation II is stated positively that the price
of copper will not be reduced, and II is there
fore assumed that the Amalgamated people
are confident that they can handle the local
copper market at current quotations, despite
the position Of the European trade. In yester-
days Paris market copper shares exhibited an
Improving tendency. and the whole foreign posi-
ZION apparently was cOhsloeteu iess SSAAoAs IMAM
recently recorded.
Local money market rates were comparatively
easy and despite estimates OF lower cash hold
ings in to-morrows bank statement there was
no uneasiness in banking circles over the none
tary situation. On the contrary expressions
OF extreme confidence were heard in bankers
Offices The interior drain appears 10 be about
over, so far the West is concerned, and II
the demand from the South continues there will
be ample funds in the city banks to meet all
requirements. The local money market has
been ably handled this fall There were possi-
bilities in the market at time that might
have led TO trouble if the situation had not been
in the hands of masters OF finance. While cur
rent reserve above the legal limit is not large.
ST is much higher than at this time a year ago
or in the preceding year, and according TO all
indications il viii soon begin TO feel the ia
vorable influence of a return flow OF money TO
this centre. When money begins TO come back
10 New-York there ought 10 be a good sized
upward movement in stocks. Despite the bear
points that are being industriously circulated
there is every reason for confidence in the gen
eral situation and the future Of values.
Early strength in stocks was fairly well main
tanned until the close, and a rule final prices
presented net advances. Commission houses
were inactive. except in the case OF Northern
Pacific preferred which was apparently con-
sidered POod purchase. In the present condi-
tion OF affairs in the Northwestern railway
situation extreme caution should be exercised
in dealing in the securities concerned. Northern
Pacific preferred made a net gain OF points
for the day, while Great Northern preferred lost
j point. Amalgamated Copper closed lS per
cent higher. Substantial gains were made by
Brooklyn Rapid Transit. Delaware. Lackawanna
and Western, Chicago Great Western preferred
II IoKva Central Dreferred MinDeapolis and
Louis issues Pere Marquette and Wisconsin
Central preferred. Lake Shore, small deal
ings advanced 10 points Foreign exchange was
again firm, with demand sterling at 81 s6Q
S4 sea-. The statement was made yesterday
that much of the Northern Pacific stock bought
last May is held in sterling loans. There was a
good supply OF commercial bills in yesterdays
market. and bankers bought freely.