Evening star., 1901-10-23
Good Buying in the Northwestern
Group Today.
ST. PAUL WAS 4 FEATURE
Return of j. p. Morgan Infuses
Life in the Market.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star
NEW YORK. October 2s-An aggressive
buying demand In which Morgan and Stand
ard OH brokers were prominent forced some
substantial advances in today's stock mar
ket What seemed to be rather positive
evidence OF a settlement of the northwest
ern situation appeared on the tape In the
nature Of a strong inside demand for the
securities concerned. The buying of Union
Pacific by brokers usually acting for the
Morgan ONCE came as a surprise to the
street and led to numerous ingenious theo-
ries as to the motive of the transaction.
BY buying into the property, which alone
can interfere with the plans for the financ-
ing Of Northern Pacihc. the Morgan fac
ton are either defying the Hartman party
or cementing a business friendship. The
more desirable view is the latter. and there
were some corroborative incidents In other
parts OF the list.
The buying of St Paul was conducted
upon a most liberal SCALE the price advanc-
ing well over 170 before the demand slack
ened.
At this price the advance was equal 20
3 per cent from the final price OF yesterday.
Here again Morgan brokers were active.
and the size of the individual purchases
showed conclusively that something out of
the routine was in progress. The buying
Of st. Paul was thwarted in the spring. but
that property deal or no deal viii sell
around the best record OF Burlington n
inside plans are not at fault.
Recent developments point very clearly
to the fact that the banking interests are
preparing for greater activity and have set
about unwinding the tangles occasioned by
the inexperienced handling OF the commun-
ity-of-ownership plan. The room believes
that Chicago and Great Western is TO be
taken in at some stage of the present
movement. and there is consequently a
large professional long account in that
property.
The Vanderbilt shares held well through
out the day, and rather confident predic-
tions were made Of the probable early an
nouncement of a plan to refinance New
York Central through the help of the So
called junior issues. The return of w. K
Vanderbilt and OF Mr.. Morgan about the
same time is fruitful topic for gossip and
conjecture, which the street will make the
most of.
A feature of great significance was .he
free lending of money by the City Bank
and all the Standard OIL connections in TIE
street. The willingness to assist specula-
ton was generally construed to reflect a
knowledge of such a change in conditions
as would warrant a more confident lending
of money.
All things considered, the market today
may be taken to reflect a decided change
in the surface condition Of speculation.
The public is not in the market, but the
banking interests are, for what purpose Is
not clear. Should some statement OF the
incentive be made which would appeal to
the public the present lack of interest
would give way to brief period of buoy
ancy.
There are many things to be done before
the final achievements of prosperity are re-
corded and few of them may come sooner
than expected.
There was good buying in Erie, Pennsyl-
vania, Norfolk and Western. Baltimore and
Ohio and all the coal stocks. fractions were
strong and the industrials dull and steady.
The bond market showed an excellent in
Quiry.