Omaha daily bee., 1901-02-05
MOVEMENTS OF STOCKS AND BONDS.
southern Pacific Deal Dominates
AMnIrs on MnII Street.

/
| NEW YORK, Feb. 4-The stock market
| was under the influence OF the news of the
/ purchase of control of the Southern Pa
| cihc by syndicate in the interests of the
| Union Pacific. Notwithstanding the plain
corroboration by the. tape on Friday Of the
rumors OF the deal, the spectators were
| sion after the market had closed on Fri
| day found the street In a state of unpre-
been thick for many. weeks past this par
! ticular one had not been formulated, even
In the formation of the tipsters.
Inc natural consequence was n large and
excited demand for stocks at the opening
today. As u result of the accumulate of
buying orders. in commission Offices since
| various stocks under the excited bidding
OF competing brokers. They bought 1850
shares of Union Pacific upon the fall of
the hammer at the simultaneous price of
SS7kdSoh. compared with S7@t on Friday
night The opening price I'm Southern Pa
ciiic was the highest. that stock selling at
both 47is and AZ on the transfer Of 5000
| shares. The demand came from London
and the opening price here was consider
London this morning. Opinion in Wall
street did not conclude that the sale of
the road is for the benefit of the stock
which remains on the market, as II const-
tutes "A minority of the road presumably to
be used for the best interests of the Union
Pacific. The professional spectators took
an active part In the market with the adj
vantage offered of the large outside de-
mand for stocks attracted by the Southern
In their manipulation to advance prices
one operator made a demonstrative bid for
10000 shares of Union Pacific at 80. IT was
quickly supplied in a single block and as a
consequence Union Pacific ruled below that
for the rest of the day.
The completion of the Southern Pacific
transaction caused additional credenco to
rumors of other similar transactions. II is
highly probable also that the likelihood OF
frntier f rhsphS af his nISn crGasea 10y ns
for AtChson and for Rock Island was at
tracted by this probability. The movement
in these two stocks was, on the whole, the
most conspicuous of the day. The rise in
Atchison reached 2la and in Rock Island 294
on the very large dealings. The movement
In Louisville apparently was based on the
fact that IL has had no considerable rise
since It's dividend has been increased.
The buoyancy OF Chicago Great Western
stocks gave color to recent rumors that II
is to pass to the control of some larger
road. The common stock advanced IA. the
preferred rrd 80 and the PrefenTred "B Ss
general in sympathy with the movements
invited heavy realizing and the bull specu-
lators turned their attention to other quar-
ters of the list to sustain the market. The
most conspicuous part of this operation
@ Was shown IN local fractions BROOKLYN
Metropolitan 2ls There was a period of
activity and strength in the steel stocks
which lifted them from / to ga. Rumors
that threatened conflict I'm the steel trade
had been averted by agreement helped the
movement. The whole market was in
chned TO run or In the late dealings on
realizing and the close was easy. Al
though the speculation for the rise was
very confident counter considerations were
not entirely lost sight Of. The fact that a
considerable business in stocks predicted
extensive consultations. the possibility Of
popular disapproval leading to hostile leg
islation. the prices paid for the roads alb
sorbed and the possibility of damage to
roads not included leading to rvalries and
reprisals were all discussed, although they
received small Credence. The nroads upon
the money market shown by last week y
enormous loan expansion, as the result Of
another heavy financial operation, gives
some weight to execution of future develop
ments In the money market. Sterling eX-
change continued to advance, notwith-
standing an earlier market in London and
the probability OF gold exports this week.
The bond market was strong and slightly
more active than on Friday. Total sales,
par value, S7,3l0.000 United States bonds
The following are the closing prices on
the New York Stock exchange: