The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-06-02

arrived at by the conflicting interests IN
Northern Pacific. Speculation seemed 10
leap to the conclusion that the only i'm.
pediment had been thereby removed to the
return to the level Of prices and the adj.
vanciug tendency was interrupted by the
devastating effects OF the corner In North
ern Pacific. There was hcadong buying
of stocks all through the list on a buoyantly
rising scale,
ali things were made fuel FOR hunlsh en-.
thuaasm and any ness which seemed to
threaten values was ignored. The market
took on all the characteristics Of the recent
boon" period and afte, absorbing an Of.
ferlngs 10 take profits rose again In the
fnal dealings 10 the highest of the day
where It closed. There vas NO exception
to the strength 81 he market but some
Of those stocks 0hIc5 have been advanced
Sharply of Iao we're ser s'eady by the
offerings 10 realize pIo6's, Thls was nola
bly trac OF some of tnc southwestcrus and
Southern railways
The eory rurt vaa most sensational DO
Union paHnc aud gro J-nitod STATES Steel
storks mud Atehisou. Tine 6fst -Elrs ~
United States Su,sl were 5000 shares. The
rise iu linton Fa1ng eXtcudcd 70 aal )uriug
the ar-t hour fbrlc Nas some rtn.fiou
midway Of iHc session, nlt the lrpne't
became conspicuous bed hy So pNNl Wb
q ,la- point usc Rock lsnud g1lnei
There was sin "a conspicuous absence u'
dealings IN Northern raciar mot n single
transaction hejnE recorded inr ,itbrr 'h
common or preferred Not even r.d Was
asked or recorded Tor me common stocS aI
the c.osc
The details Of tho Northcr1 racidc agree
nent are NOT Announced and rumors We're
npmerous pai0 'ne tn wide reaching adjust
nlcuts OH thgoush tae rnilroad world. Tho
waale Northwestern railway system. It was
sail would come into one harmonious eou-
trol aud representation Of tho same cou.
troll would be found In the Union Patlnc
system. The Union racinc said the gos-
sips. would de,aoh the Southern Pacific
Tor the benefit Of Pacific outlet for the
Gould Southwestern system and couteni
itself with the Central Pacific.
ne operator WHO WIS ffAhTntu RS ih'
market leader during the recent boom Wa'
very conspicuous IN the DAYS dealings am
i,nught thousands ut shares oi many 0ii
feTent stocks an around tho room Ch'
huN- lciared that great Hnanriui poW"r
have entrusted HEge yosoW ces 10 the di
rcriioh uf this operator to iuaugulotr
new huN maypneHr The bank stnicmeu
FNn"Cd HU unexpected increase To- cash rt
fefves aud fhr large loan expansion wi'
jakeN u- au Indication taHi an impurtnH'
liquidation 100 lho 7'oca bad been complete,
and measures We're hciug takcu far renewed
operations lu the market The E1iu- t
the prominent stn. @7 ram front t1
p0inis or 0Fcr. There was Uu cuurW1n.
absorption OF urlon Pacific cou,crup',
bonds as we'll as oi the stock
The stock market has SHOWN moro anl
nation aud m"te consistent strength this
week than ay any lime siurc tho y"mm"
non % May q Professional operators SUI
form large proportion Of fhr dealings aud
There have been many movements, eSpr
cialiy iu she industrial list. that can oniy
hc explained on the score ot manipulation
hy pools Bnt beyond thoso there has been
a palpahe. cucct prodGccd by q numhei
ierPretcd 80 favorahle by stocks traders in
tho general situation
There was a feeling in the street that tn
project 81 an adjustment " ,hc Nnrlhon'
s'acihr dispute and avoidance Of futur.
hostlities as an outgrowih was coninu ~
settlement Tho conviction pf this was
strong, before the official announcement
rival ~ Mr. Morgan IN i.oudon from hts
vacation fostcred II as his decision lpln
tire matter was essential In any event s.
did tho fact thgt conferences were going
90 w this city between parties Interested
The upward movement ia Union Pacific ANA
Southern Pacibc Us accepted as corrohorp
tive evidence.
The offer Of the two bankInE houses
which represent the contcnding Interests
u allow the London shorts Ia settle fur
the nxed price az l5S where they are
liz o. Il. 20. la ls.ft,. ,g ,
lieYed somewhat the feprs OF further stock
market disturbances growing ont OF the
dlfhculrcs ~ the shorts, but the wording
OF me oner makes u clear that there was
no relaxation Of the c,oscne,s with which
the rivals were cNacting ah possible dc.
lyerles of actual certificates ~ the stock
IN the market The fact is considered SIG
niucaut that the exchanges Tor the SlOO
WOtNH ISSUE OF Union Pacific convertible
Ponds. given IN the application ~ The
stock exchange 10 list those bonds, did
not show nny Northern Pacific stock The
Inference WAS hat the stock was thus dc
siRnedly left free 10 be disposed Of In nne
settlement OF the dispute IN the North.
western railway territory The clause in
the mortgage. however, makes n clear thar
the proceeds of the bond issue NAV lac an,
Piled 20 teinlhursing the expense OF m
Northern PACING purchases IN the Interest
OF the company.
IN the meantime, the project which Is
called N Wall street THE Greater ATS
tlnrness Of outline and Admittedly in
cmles desire and a purpose Ia Securp
control ef q trunk line outlet for the
Gould Rockefeller Southwestern system to
the Atlantic. Both the Erie and nelawarc
and l,aekawanpa seem on the market ana
y Is thought their stocks are aiMed al ~
this project. The advance IN this gronp
~ stocks under the huylng. supposedly
fer This purpose, has had a stimulating
effect on other stocks There has been
large buying of Atchison and revival OF
the rumor that this WAS for account of
Pennssiyanla Ia retaliation for the Gouid
project The disanpruyai of this prolect
ahr the great trunk lines prOprietors is
taken Tor granted The interests thus
brought into counct would be partly idcn
Teal With those involved IN the Northern
Pariac dispute.
Suggestions 81 friction along the same
Hines are found 10 the rumors OF Illinois
Centrni's plans for entering the Chlearo'
81. Paul granger neid through the Mluae
apniis and ST Louis ana the Iowa Central
and the report that q large purchase OF
Ohio bifuminouE coal lands Ia supposed "a
be for Gonld account, Apparently the
speculative traders have retained n thor
Ola Interpretation Of these developments
as indicating the extension ~ "eommunity
Of Interest," rather than The later inter.
pretatinn induced hg the Northern Pacific
Incident Of harmful rivalry heiweeu the
il Is 70 Be said that the stocks walca