The daily morning journal and courier., 1901-10-24
Etnanrial
 1HE STOCK MARK E7.
In creased Activity and Broadening
 CendencY.

Increased Activity and Broadening g
 Tendency.
 New York, Oct. 23--Speculative ac-
 tivity to- day was largely confined again
 to few stocks, but the field of action
 shifted from the Vanderbilts and Chi
 cago and Northwestern into St Paul, Union Pacific and Southern Pacific. The
 aggregate dealings rose considera bly,
 over those of yesterday, and for some
 time past and as the day progressed
 the market showed q broadening ten
 tency in sympathy with the sustained
 strength of the three leaders. Chicago
 Great Western came conspicuously into
 the movement later in the day and
 achieved an extreme advance of 2M on very heavy dealings. closing at the l highest Other stocks reacted some what from the top, influenced partly by | a break of 4% in Chicago and North- western preferred St. Paul's extreme ! rise was points, Union Pacific 2%, and Southern Pacific a point Among the | stocks to come forward late in the day | were members of the soft coal group and the southwesterns with gains of 1 to IF. Sugar was also quite notably Jstrong rising 1% and International Power advanced 2h. The early weak ness of the market was quite generally overcome by the late advance. Amal- gamated Copper, which fell ? points in the opening, closed with a net loss of only 1M. There was some very large selling orders in the stock and 1t was affected by the weakness of raw copper in London. The local fractions and Peoples Gas were also prominent in the early depression. Glucose fell 2lp and the preferred under raids by the bears, and Hooking Coal was forced down 11a with a subsequent recovery. There was some continuance In the early dealings of yesterdays strength in the Vanderbilts, New York Central rising 1M, Chicago and Northwestern 6 and the preferred 3A, but the move ment was not continued after the re- action in the market There was no specific news to account for the action of the market, but it was undoubtedly based upon the assumption that the ne- gotiations now in progress will result in the settlement of the Northern Pa cific controversy with benefit to the whole trans continental railroad situa- ton. The neglect and tagging ten dency of Great Northern preferred and Northern Pacific preferred did not seem to disturb this conviction. Neither did , the apparent contradiction found in the insistence on the retirement of North- | ern Pacific preferred, and the broad in- | timation from President Hill that Great | Northern is to be consulted in the mat ter of control of the Burlington system | as well as Northern Pacific. These in- | sistencies are regarded as the vantage | ground to be shrewdly held while the | process of bargaining is still going on, as it undoubtedly is. Burlington was quoted in the closing at 190019S. The | exchange market was somewhat easier to- day, notwithstanding the advance in London discount on account of the loss of more than $2, GOO 900 additional in gold to the continent.
 The bond market was quite active | and broad and prices as rule advanc- ed Total sales par value, $4,670,000
 United States refunding 2s declined + { and the old As 1s per cent. on the last call.