The age-herald., 1901-10-23
STOCK MARKET IS
 IN WAITING MOOD Northern Pacific Settlement Still
 Dominant Question AC CTIWTY LATE IN THE DAY large Lending of Money on Call by Banks Connected With Stand ard oil Company Indicates
 Favor to an Advance.

New York, October 22.-Waiting on the Northern Pacific settlement best de- scribes the condition of todays stock market as the conviction Is general that the final steps in the settlement must await the presence in this city of J. F. Morgan, and as that gentleman was re- ported still in the Northwest on his re- turn across the continent, the outlook for immediate activity In the stock market was not promising.
 Whether any significance attaches to the fact that out of the Northwest came the influence which moved the stock mar ket to strength and activity late in the day, can only be surmised. There was no clearly defined explanation of the movement, but 1t grew and spread from the Chicago and Northwestern stocks and embraced the principal railroads in the Northwest and the Vanderbilts all the way to the seaboard. Northwest itself rose an extreme six points, and the pre- ferred ten; Chicago, St. Paul, Minneap- oils and Omaha ten, the preferred thir- teen; Chicago, Milwaukee and St. Paul three, and the preferred four and half. Considerable sympathetic effect was pro- duced at the last hour, resulting in ad-
 
 the Pacifics grangers and high priced specialties. New York Central and the so-called Junior Vanderbilts advanced to IF. An impression has gone abroad that the development pending in the Wander bilt system Is to take the form of a melon cutting for the benefit of Lake Shore. The recent increase in the valuation of the subsidiary stocks held In It's treasury provides material for large extra dis bursement which would operate indirect ly to the benefit of New York Central The pamphlet report of the Great North ern. Railway. notwithstanding the large decrease in net earrings reported as re- suit of last years spring wheat short age, continued so fiattering an account of the general conditions in those regions and the large movements of immigrants thithers that 1t was an important infiu- ence in the rise of all the Northwestern railroads.
 Great Northern preferred itself fell IF at first, owing to the showing of net earnings, but recovered with the late movement In the group. There was con tinued speculation In Amalgamated Cop per, the stock receding early on the de- cline in raw copper in London, and the further spread in the price of futures be- low that for spot, indicating the expecta- ton of coming fall in prices. Amalga- mated copper, however, recovered with the late buying movement in the market. Large lending Of money on call, coming from the banks affiliated with the Stand ard oil party, was interrupted by the spectators as an indication that the re- cent attitude of opposition to a specula- tive advance by that party had been mod flied. The banks received payments for an additional half million of gold at Pa cifc coast points, and there were reports that the movements of currency to the south was declining, although $2i5,000 was deposited at the sub-treasury for transfer to New Orleans. From money standpoint the further violent rise in foreign exchange was not reassuring. There seems to be something like rush of cotton this week to export points, but this has not had the slightest influence in checking the advance In exchange which would quickly reach the gold ex- The expected movement of gold from London to Paris also set in today, and there were large additional shipments to Berlin, marking the continued money disturbances at those centers A triangu- lar process of remittance from New 3 York to Paris for the repayment of loans contracted in the Northern Pacific trouble are said to be an influence in the move ment of gold from London to Paris. The market closed somewhat irregular. Rail- road bonds were irregular. Total sales, par value, $2.745,O00. United States old As declined M per cent on the last call.
 Now York Stock Market.