The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-23

Call money, New York 81 Sal a6e;i'
Nh NEW YORK. Oct, p swaiting on the
Northern Pacific settlement best descrIb-
ed the condition of todaylss stock mar
ket AS the conviction is general tba+
the hnal steps in the settlement mist
await the presence in this CITY of T p
Morgan, and as that gentleman was re-
| ported still in the Northwest on his trim
| across the continent, the outlook for I'M
mediate activity in the stock market was
not promising. Whether any sipnifnanca
attaches to the fact that out of fhe
Northwest came the influence which
la nti-stt tne STOCK market to strength and
activity late in the day can only be sur
missed, There was no clearly defined ex-
| PLANTATION of the movement, but if graw
ana spread from the Chicago & North
western stocks and embraced the min
cIpal railroads in the Northwest and the
Nanderbils all the way to the seaboa r1 .
| North Western itself rose an extreme SIX
points, the preferred 10, Chicago, ST. Paul.
minneapolis a. Omaha TO- the preferred
IL, Chicago, Milwaukee & st. Paul 3 and
the preferred AZ Considerable sympa-
thetfc enect was produced by this at the
| last resulting IN advances of as much
as point in some of the Paeifics-
| grangers and high priced speciaIties. New
| York Central and the zse-calIed Inner
| Vanderbilts advanced 1 to IL The i'm.
! preston has gone abroad that the deyeJ-
| opment pending in the Vanderbilt svs-
tenn IS to take the form of a melon-cut-
| ting for the benefit of Lake Shore The
recent increase in the valuation of sub
sidiary stocks held in its treasury pro-
| Y1des material for large extra disburse-
| the benefit of New York Central. The
pamphlet report of the Great Northern
| railway. Notwithstanding the large de-
crease in net earnings reported as a re-
| suit of last years spring wheat short
age, contained so flattering an account
| of the general conditions in that region
and the large movement of immigrants
| thither that it was an important infiu-
ence in the rise of all the Northwestern
! railroads. Great Northern preferred It
| self fell ~ at first, owing to the show
| ing of net earnings. butGrecovered with
| the late movement in the group. There
| was continued speculation in Ama1Ga-
| mated Copper, the stock, sreeeding early
| on the decline in raw copper III London
| and the further spread IN The price OF
| futures below that for spot indicating
| the expectation of a coming fall in price.
Amalgamated Copper, however, recovered
with the buying movement in the
market. The large lending of money on
| call, coming from the banks affiliated
with the Standard Oil party, was inter-
| preted by the spectators an indication
| that the recent attitude of opposition TO
| a speculative advance by that party had
| been modified. The banks received pay
mentS for an additional half million Of
| gold at Pacific coast points, and there
were reports that the movements of cur
reney to the south was declining, al
! though $275 600 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 some
| thing like a rush of cotton this week
| to expectation. but this has not had
the slightest influence in checking the
| advance in exchange, which would quick
! " reach the gold export point at the re-
| cent rate of progress. 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 disturbance at
| those centers A triangular process OF re-
mittance from New York to Paris for the
| repayment of loans contracted 2 IN the
Northern Pacific trouble and in prepara-
! ton for the coming Paris stock ex-
change settlement are said to be an IN
| fuence in the movement Of gold from
london to Paris The market closed
| somewhat irregular.
Railroad bonds were irregular Total
sales par value, $2,T45O00. United, states
| old As declined Is per cent on the last
call.
STOCKS