Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-05-09
SEEKING A SETTLEMENT.

In the street and close to the Hartman
Kuhn, Loeb & Co. group of tinanciers,
said.
SEEKING A SETTLEMENT.
1--WE will continue to seek n settle
ment upon a reasonable basis. We DO
not wish TO see innocent men suffer and
have no disposition 10 dictate unfair
terms. The offer Of Kuhn Loeb 4 Co.
to loan stock to the shorts is still open
The firms policy Is conciliatory. IL
would protect rather than destroy.
There are efforts afoot 10 get the con-
nicting interests together and am
hopeful as TO the immediate future
II is positively stated that the Bur-
lngton deal Will go through, but II Is
felt that the conditions of Its new
ownership will vary materially from
those in view when the Great Northern
first submitted It's offer.
NORTHERN PACIFIC WILD.
The trading in Northern Pacific be-
came SO wild and excited toward IL
o'clock that prices changed rapidly %
and 80 points at a time. A sale at $50
was recorded, and almost Immediately
another one came out on the tape at
100, This was for tomorrow's delivery,
and not cash sale, as some Of the ear
Her ones had BEEN thereby indicating a
belief on the part Of the purchasers
that the short commitments We're so
large that the stock to come from Hu-
rope would afford little or no relief
The great excitement In the stock and
the frantic efforts TO buy would seem
TO show that the short sales were much
larger than were supposed on yester-
day. Shortly after II o'clock all sup
port seemed to be withdrawn from the
stock market and prices began falling
many points between sales,
STOCKS GO TuMBLING.
Union Pacific went down rapidly and
1900 shares Of the stock were sold at IS.
The same moment / 900 shares Of Mis-
souri, Pacific were sold at 81 PEOPLES
Gas OF Chicago, Brooklyn Rapid Tran
Sit Amalgamated Copper, the Atchi-
SONS and ST. Paul fell off and there were
sensational declines, the like OF which
had not been seen FOR many and manv a
year. st. Paul sold down to AS, Mis-
souri, Pacific to SO. Erie TO 49, United
States Steel preferred TO SO, Atchison
preferred to So, Southern Pacific to IS.
Western Union TO 81, and then almost
Immediately Amalgamated Copper fell
to 96, Erie to g. Atchlson common to
81, Union Pacific TO So. Rock Island 10
l4S, Missouri Pacific 20 IS, and Louis
vile q Nashville to 80. Then the tape
recorded the sale Of 1900 shares Of Tn
ion Pacific at 81, then o rally TO &c.
Pennsylvania sold at 1888. New York
Central l4S, Peoples Gas l03h, Atchi-
son So. Erie 25is. b. & O. preferred S6R.
United States Steel 49, Missouri Pacific
70, Amalgamated Copper 81 Manhattan
s5. Southern Pacific IS, Atchson pre-
ferred 70, Louisville 30, Brooklyn Rapid
Transit Y, Rock Island l4l. Steel pre-
Peoples Gas lOl.
TAKING ENORMOUS PROFITS.
II was stated by a man close TO the
successful interest in Northern Pacific
that the members Of the syndicate de-
precated the course OF the third large
interest in the stock In taking enor-
nous profits from the shorts, and that
one of the motives In seeking an agree
ment was 10 defeat the speculative
pool. At ll:45 o'clock the statement was
made that j. p. Morgan & Co., and
Kuhn. Loeb & Co.. had Just agreed not
to enforce deliveries on Northern Pa
clhc stock today. With this announce
ment there came a rally In prices
throughout the general list, but
the better tone did not
last and the tape recorded sales of
Union Pacific al 81, then rally to IS.
Pennsylvania sold at 1879, New York
Central 1is, Peoples Gas 1884, Atchi-
son SIS, Erie 25h, h. & o, preferred S6is,
United states Steel 80, Missouri Pacific
%. Amalgamated Copper 49, Manhattan
S. Southern Pacific 30. Atchison, pre-
ferred. 70, Louisville 30, H. Il. It. 70.
Rock Island l4l. stel. preferred, So, DO
& o. e6E. and Peoples Gas 1Ol. North
ern Pacific after selling at 1000 fell to
coo on the next sale.
The rally did not hold for more than
moment and United States Steel com
mon sold at 25L, st. Paul lSS, North
west 1854. Pennsylvania 1884 and
United States Steel preferred 20. Atchi-
son. however, became firmer. and 1850
shares Of the stock sold AT G., Western
Unl)n sold at S5is. Sugar 1876. Southern
Railway al 2l. Southern Pacific 20.
Chesapeake & Ohio IS, and Brooklyn
Rapid Transit 6Sh.
AT noon the assignment Of Charles |
Il. Sickels. broker, was announced
J. J. HILLS STATEMENT
President ]. J. Hin, OF the Great |
Northern road made this statement to-
day
II never bought or sold n share OF !
Northern Pacific stock on the floor. and |
what is more. IN six months | have |
neither acquired nor gotten rid OF |
Northern Pacific stock or any other |
stock. When the fog Of battle lifts
and the air becomes clearer. as | be-
lleve J., soon win. people viii see many
things In a much clearer light than
they do now.
I'VE never have had control OF the
Northern Pacific road; We don't want
control; We are not trying TO set con.
troll. aid under the law we could not
retain control II ever We got 1t"