The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-05-08
!, Buoyant at the Opening to Disorderly
Alarm Verging on Decentralization.
MARKET HINGED ON NORTHERN pAcIFIcs
Ind for This Stock Said to Be the Result of a
Desperate Effort to Regain Control on the
Part of the Insiders

ork MAY THE stock market
all the gradatlons of sentiment,
ovant Mt the opening to disorder
worrying on decentralization In the
art Of the day. The market
Imost entirely on Northern Pa
be extraordinary demand for that
ntlnued and 1t almost duplicated
rs rise. advancing an extreme
bnared with % yesterday. In the
ealings the strength retained a
rs sympathetic effort but 1t steadi-
hat Influence. The reason of the
tlng depressing influence on the
the market was shrouded In as
,sterv. as the whole movement has
~ the day drew toward the close
beran to gain currency that the
for this stock for the last two
the result of II desperate effort
n control on the part of the in
4 The superstition Is that the recent
secure control of Union Pacific
retaliatory movement on the part
8rful capitalists, who control Union
4 TO embarrnss the Northern Pacific
4 with an enforced contest to main
Rir control. The success of the
Isl be admitted IL such Il struggle
4 the cause of the buying IN North
Ijic. The brokers employed in the
<service are some confederation for
i 81 So tssh u.
with buying 20O,OU shares yester-
1 q buyer of tens of thousands of
Noday and was at the same time
out the stock for the benefit of
10 an amount estimated at 1000
Tres, thus striving to allay the
bf the short interest and thus dis
BIZ the hypothesis that tie buying
snf was designed for squeeze
1.-The shorts. The appearances rather
show that the short interest was
1.-The Insiders. The prescriptions
blight follow from the fact OF such
kle between great groups of CAPT
bad chilling effect on tho whole
Hon. For one thing, ii pointed to
Fof ylndictiveness between interests
pave been supposed to be working
H.. Instead Of progress IN II com
Of Interest it would point to Il
of gigantic rivalry with resultant
u competition. exceeding anything
|way Of railway wars in existence.
pa indicate also that the leading
A interest. which has been con
4 figure In all the recent great
i plans. had been outgencraicd.
fyere fears also that the collapse
fw the volatile rise In Northern
would unfavorably affect the whole
market. The rumors regarding
n Pacific did not begin to take this
etil latcNih the day. Reports that
Qerred stock was TO have the option
Pange vita the common stock, and
|away with Its prior claims. sent
fIk facihc preferred M over IL
canadian Pacific continued its !
4 on tue theory that its prospective !
IS strength. Union Pacific was run
|5o& In an attempt on the part of |
pas to rally 1t to figures common.
with Northern Pacific. These |
the really notable fea.
Strength IN the market after the |
pWge. which was quite general |
Is due to the thrush Of buying or |
pm ghe now widely extended specu-
'nbl,c The opening gains ran from !
points pretty generally and from |
points In, Sugar ana Union Pacific. |
M uirodus made upon those prices 1
Izlng and the impairment of the
power discouraged the continu-
4 speculation for the rise. Tho |
" lor money and the demands BY |
ler larger margins also had re-
naihuehce on speculation. The |
selling was enhanced nv the dis
'm Ii of timld holders who are |
/, ,"ilnng 10 let go on a rise. The |
\ iast was severe, reaching So In
n Iisseihc;; SO IN st. Paul; s in
sacinc; "a in Rock Island. ; in |
BE and Ohio, and between . and |
:" sne large, majority Of the ac- |
me United States Steel stocks
|e'on under pressure throughout, |
current gossip attributed this |
p poI to a shifting on holdings from
IN STOCKS into railways. Prices |
|aenve the. lowest as bears took |
|dI Sts Ply the closing undertone con
weak.
' a. ala market was quite active. Total |