The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1901-10-12
EASTERN MARKETS.
Ne1U York Stock Market.

NEW. YORK Oct u-Great speculative &C
tivity continued in the stock market to-day,
but il was ceutered to large extent in trans
continental stocks, led by St Paul. which rose
81 points over last night in the late dealings,
and closed ! point below the best The ap-
pearance Of the market suggested the days Of
last spring dear to the memory Of the pro-
1essiOnal Speculation, when the absorption Of
new railroad system or a new transcontlnental
combination was rumored each successive day
and readily accepted in the credulous mood of
the speculative world The activity of to-day'S
market was largely due 10 the crop Of rumors
revived by yesterdays various reports Of the
proposed plan for consolidating the control Of
Northern Pacific. Great Northern and Burling-
ton in one proprietary company AS a matter
Of fact the Official disclaimers this morning
Of the accuracy Of the published reports and
the prompt relapse in the prices Of Great
Northern preferred and Northern Pacific pre-
1eTred had a somewhat chilling effect on the
speculative sentiment The general accord of
the current rumors in allowing that the stock
OF northern racine itself was not yet provided
for IN the plan, the alleged provision for the
TetlreInent OF Northern Pacific preferred,
throuSh which the control by the Hartman
Interests is exerted and the assertion by rep
resentatives Of Hartman interests that that
syndicate was not q participant in the plan
ions As the day progressed there was a re
Vival Of old rUmors that Union Pacific was tn
acquire St Paul in exchange for new bonds
In the presence q these pleasant old associa-
tons speculative eafhIl.issn9 seemed - 80
nre The buying OF St Paul was quite IN the
old prOdigsl fashion OF outlay and Union Pa
clfc, Southern Pacific and Atchison were con-
spicuous followers The extreme advance in
Union Pacific was "a and in Southern Pacific
~ Rock Island was up four points at one
means kept pace with the other transconti-
mental railroads and the Could stocks as a
whole were laggaros- The Southwesterns were
affected by poor earnings for the first zveelx IN
October Here and there in the railroad Bsf
s1o the prominent inoustrials there were adj
Tsnces q a point OF over bat the activity and
strength Of the market were by no means ger
erel or well distributed The coalers and fha
so-caleo Morgan stocks including the Tinted
states Steel stocks seemed to be little affact-
GO and moved narrowly Expectation OF a eood
bank statement was general founded mora on
the tone Of the money market than on act,.j
Information. and the showing viii depend ~,
the loan item changes IN which are nece~sarfI[
obscure The feeling is growing that rreee1f
resources Of the banks are likely to move emf
hcient 10 meet the further requirements ~ A.
interior for currency. The movement nv ~
press this week fell of over So 600 600 from tbe+
Of last week This feeling was an influence On
the strength Of the market CyornTni11so-1
houses reported little evidence Of an inc-aao.
20 the outside interest in the market and Tire
principal buying was attributed TO large snec-
ulative interests. PS
The, railroad bond market was quite active
and showed increasing strength Total
sales. par value, $3.50, 600.
United States IS coupon advanced Y ner
cent on the last call. -