Evening star., 1901-11-14
Stocks We're Weak as a Result of
Northwestern Deal.
HEAVY REALIZING BY THE LONGS
Prospect Of Oearer Money Also
Had Depressing Effect.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK. November l4.-The an
nouncement OF the settlement Of the North
ern Pacific controversy was followed this
morning by very general profit taA.ng
Traders sold liberaly and several pools
were free sellers to take profits. London
opened higher, but the selling orders from
that side helped 10 increase the heaviness
on this. An advance In sterling exchange
and the prospects for further god ship
ments on Saturday had a depressing infu-
ence in all parts OF the list
Some of this gold was intended to have
gone out yesterday, but was forced TO wait
for a later steamer.
The details relative 10 the Northern Pa
cinc settlement are extremely meager and
the street Is at loss TO discover anything
ia the setuement making for positive bet
terment Negatively the market has been
given the assurance that friction such
as Was precipitated the 9th of May alsss-
ter, will arise in the future.
In order to arrive at this amicahle settle
ment new company capitalized at s4Uo,-
Vo,Vb has been created and new securities
OF volume only second to those the Unit
ed states Steel Corporation are TO be Gre
ated- In the long run this company NAV
serve TO release much money that has been
tied up In order to protect certain holdings
of stocks In companies over which there
nave been dissensions. but for the imme-
supplies no hope.
Other consultations and numerous other
enterprises must wait now while this mat
ter is being worked out. The real trouble
With the financial situation IN lack OF
money. Nothing done by the warning in
terests has tended in the slightest degree
to supply this deficiency.
Morgan brokers were lending money
rather literally during the day, and leading
bankers said that in spite of surface indi-
cations there need be no alarm over the
money rate in some quarters. Purchases
were advised while this uncertainty lasted
since every one would buy when the sky
becomes clearer and at higher prices.
In spite of these assurances commission
houses were inclined TO urge a Tightening
OF speculative burdens and showed very lit
tie desire to execute buying orders in ac-
counts already committed to the long side
of the market.
Union Pacific and Southern Pacific were
sola by prominent room trader for the
purpose OF shaking out a weak bull account
st. Paul was sold down by the pool efforts
to get out before the fact that the lack OF
mention of this property in the new settle
ment should be adversely construed. At
Gibson was freely sold also. and pool sales
were conspicuous IN spite OF an attempt TO
disguise this fact.
An attack on Western Union forced a de-
cline of per cent before support was at
tracted. At the same time all the Gould
shares were under pressure and rumors of
a general shifting of loans were heard An
eHort was said to be In progress to avert
an unfayorable bank statement. and the
loans shifted were upon the stocks which
were heaviest in the market.
The Western Union movement was based
upon the possible loss of pool room services
under the new municipal government. and
the fear of friction between the Goulds
and Pennsylvania railroad interests over
the entering OF Wabash into Pittsburg.