The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1901-10-18
NET CHANGES
VERY SLIGHT
Prices FIuctuated Over a Con-
siderable Range But Finally
Stopped at About Where They
Started in the Morning
SUDDEN ACTIVITY IN
NORTHERN PACIFIC PED.
Demand Was Strong After Period
Amounting Almost to Stag
nation From Panic of May g.
Supply Was Observation-Disclosures
mated Copper Active

New York, Oct 17-Todays stock
market was again quite inconclusive
as an index of any consistent specula-
tive sentiment. Confusion and hesita-
ton were the only feeling involved. Al
though prices covered a considerable
range, and in some cases several times,
the net changes of any consequence will
be found very few.
The same brokers, acting to all ap-
pearance for the same interests, were
on different sides of the market at diff
ferent times of the day. This was es-
pecialIy true of the operations in the
southwestern railroad group, in which
heavy selling, seemingly for inside in
terests was followed by even heavier
buying from the same sources. The
midday weakness in this group inter
rupted a hardening tendency in the
market as it did yesterday.
The feature of the morning dealings
was the marking up of number Of
high priced investment railroad stocks.
This movement was prompted by the
sales yesterday of Lake Shore at 800,
which were confined to two transact
tions, and the alleged raising of the bid
for Chicago, Burlington and Quincy to
211, which proved on investigation to
be wholly fictitious. On this rather
slender basis there were hung various
sapiept dissertations upon the signifi-
canoe of the pressure of capital thus
revealed in the high class railroad
stocks, and the example was taken up
this morning, possibly by investors and
possibly by the ingenious professional
operators who have been seeking to
oI-e-
This movement had lost much of its
force by midday.
Much more impressive was the sud
den activity in Northern Pacific pre-
ferred after a period of practical stag
nation lasting ever since the panic of
May 8. Not only was the demand for
this stock quite strong, but the supply
was extremely liberal, many 1000 share
lots being dealt in. The Incorporation
in Iowa of a Chicago Burlington and
Quincy Railway Company, stated to be
for the purpose of acquiring the Chi
cago, Burlington and Quincy Railroad
coupled with the movement in Nor
thern Pacific preferred, called new at
tention to the recently prevalent re-
ports Of progress in the plan of settle
ment for working out the Northern Pa
cifc tangle. But the influence of this
development did not extend beyond st.
Paul, Union Pacific, Great Northern
preferred and Southern Pacific Anal
gamated Copper continued active.
Sugar was a prominent feature and
gained for the day 1 "a The covering
of outstanding shorts was an important
influence on the latter stock. The week
ly statements of the Great European
banks reflected clearly the strained
conditions which have developed in the
Paris money market, while the condi-
ton of the Imperial Bank of Germany
showed a material and unexpected i'm
provement. Otherwise, there was nc
marked change in the money of Inter
national Exchange situation.
Railroad bonds were quite firm on q
good volume of business. Total sales
par value $1,SO5.O00. U. S. IS advanced
IA and the 5s coupon declined 1-2 pei
cent on the last call.