Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-05-10


To- 1860 ana b. & O. 10 49, To fudge
by the tape the frantic desire 10 sell
seemed ended and the belief gained
ground that the worst OF the trouble
was a thing Of the past
BONDS were moderately active and
irregular yesterday. weakest bonds
showing sharp recoyeries.
About l2:5j p. m. the strength
throughout the general list became very
pronounced and prices advanced an
around rapidly Erie sold at &c. Amal-
gamaied Copper at ll5k, and Union Pa
ciiic at lOj, the latter stock showing the
rise Of 10 points az compared with the
last sale yesterdNy Atchlson com
mon recovered TO 72A, Manhattan
shared in the rally and reached rs.
southern Pacific touched ASA, and
American Tobacco sold at III.
\ CONFERENCE.
There was a conference at the Gallatin
National bank today between Presi-
dent F D. Nppan Of that Institution
and j. Edward Simmons Of the Fourth
National At the close of the confer
ence Mr.. Simmons said the money
market would be protected The con-
ference between Messrs. Tappin and
simmons was equivalent to a meeting
Of the clearing house committee for
MessrS. Nash Of the Corn Exchange
bank and Williams Of the Chemical Ma
ti0nal bank are both In Europe.
Yesterdays tremendous business on
the stock exchange was reflected In to-
days exchange of hank checks which
aggregated SJ9S j3I 40. and which broke
the record OF 1852 200 made on
Tuesday last The balances were $685.
SlS,ll6, the second largest on record
and comparing with the record Of SEA-
llOSJS on March 9th.
MARKET BECOMES BUoYANT.
After 1880 the market became very
buoyant and under the leadership OF
sensational rise In Union Pacific to
III, % points above last nights close,
and 36 points above yesterdays low
point the entire list made rapid prog
ress toward higher prices Continental
Tobacco sold at a. a rise Of 8 points
over last night, Texas and Pacific went
10 ii& ana 81. Paul TO 1874 Union
Pacific fell back To los. Western Union
was firm around 90
The rally IN prices continued 20 the
close and final prices were generally the
best OF the day.
ORDER TO SHOW CAUSE.
Judge Gildersleeye said today that
the order TO show cause IN the Nor, n
ern Pacific case was issued BY him at
his house last night on the application
Of counsel for Bernard Smith.
The plaintiff. Smith, claimed TO have
sold 200 shares OF Northern Pacific
short 20 a broker. He alleged that
the broker was acting for parties who
held all the stock at the time, and
that the party 10 whom he sold the
stock knew II was klpossble for the
plaintiff 10 carry out his contract to
deliver IT, Under these circumstances.
Smith asked that the person to whom
he sold the 200 shares Of stock be en-
Joined from enforcing his claim for Its
delivery.
The usual bond was to be given by
the plaintiff TO indemnify the defend
ants from loss should the injuncIAn
not be continued was not filed and no
steps 10 serve the preliminary lnjunc-
tiCn on the defendants We're taken.
WAITING FOR MORGAN.
AWall street agency made this state
ment this afternoon:
1T is authorltatlvely stated that the
principal matters in dispute regarding
the affairs and policy OF the Northern
Pacific Railway company are az a Tead-
lock from which a change Is hardly
to be expected before the arrival here
Of j. =. Morgan. The agreement OF last
night appears TO have been prompted
wholly TO relieve the actual short in
tiurtrfftfnQf1ts Ina la
nered. From an authoritative source
claims Of control have been heard In ia
vor Of both sides. Parties who fire.
quently speak on matters concerninh
j. r. Morgan & Co. insist with yehem-
ence that the control Of the road lies
absolutely with them
BOSTON STOCK BROKER ASSIGNS.
Boston. May lO-Morris A. Peters,
stock broker has assigned.
STOCK BROKERS ASSIGN.
New York, May 1O.-Elbert Thomas
Jackson and Samuel G. Jackson, do
ing business as stock brokers. today as
signed for the benefit Of their creditors.
Jackson Brothers were members Of
the Consolidated exchange. The prm-
airy cause was said 20 be the failure OF
their customers In the city and ont OF
town 10 meet calls for extra margins.
The liabilities are under 100000.
r.. z. Hilton q Co., Consolidated
exchange firm, suspended business to-
day. Mr. Hilton said the house had
not failed but had suspended business
to find out where Il stood lie said the
members OF the firm expected to re-
sumo on Monday.
AMERICANS UNSETTLED.
London, May Yesterdays panic
IN wall street thoroughly disorganlze1
the American section here. The stock
market opened this morning with wi a
fluctuations. Chicago. Milwaukee & 81.
Paul opened No $50 ana advanced harp
Is 20 l6j. nearly S22 over the New York
parity. Louisville & Nashyn,, was GA
better, Atchison points higher and
Union Pacific "a. Northern Pacific
was quoted at 1917. After the first fur
ny prices receded slightly. the tone be-
coming quiet
a more treasured feeling was evident
On the stock exchange as the day wore
ln and there were no scenes Of excite
ncnt
spcyer Brothers aud the Morgans re-
port considerable New York buying
with early London reall2atlons which
lfterward were mingled with London
and continental buying
j. pierpont Morgan Jr. said 70 rep.
-escntatlye OF the Associated Press:
THE situation looks little better
would not be surprised II the buying
continued, though no one can tell what
tomorrow will bring these days
Speyer Brothers attributed what real
cations there were 20 the British deal
rs anxiety 20 get clear before Monday,
which Is settling day. and as tomorrow
s a holiday In New York they are
anxious TO DO all they can today.
$3.50 p.m.--Amerlcans. on the street.
we're very unsettled They huetuated