The St. Louis Republic., 1901-05-14
NORTHERN PACIFIC
DELIVERY EXTENDED.
LONDON EXCHANGES RUIZ
ING ON COMMON STOCK.
In New York Special Strength
Was Shown in Union Pacific, st.
Paul and Anal. Copper.
PErI-RLIr, SPECIAL.

REPUBLIC SPECIAL
New York. May 1S.-The feature of inter-
est in tho London market to-day was the
decision of the Stock Exchange Committee
to indefinitely extend the time for delivery
of Northern Pacific common stock. With
the exception of St. Paul, the market was
irregular and lower. and n good deal OF
anxiety was shown. although the feeling on
the Northern Pacific position was much re-
lieved It was expected that there would
be some failures announced on "Wednesday,
but It was not anticipated these would he
Of any serious Importance. The close was
heavy and inactive in all departments. Con-
sols at s4isc gained little ground. There
was no change in the position of money and
exchange in both Paris and Berlin was
easier.
In the local market special strength was
shown in Union Pacific, st. Paul and Anal
gamated Copper in the opening trading. The
Union Pacific buying was not unnaturaliy
sscribed to inside interests who were pur-
chasing to protect themselves from possible
reprisals by the Morgan-Hil following.
Amalgamated Copper advanced on the be-
lief that the Heinze opposition would be
unsuccessful in the litigation in the Jersey
court Insiders seem confident that the
Montana purchase will go through and have
been buying the stock to back their opinion.
st. Paul was strong and If the prices at
which 1t sold before the panic are any
criterion. 1t should be moderately cheap.
Later in the day 1t was obvious that the
market was suffering from belated liquida-
ton Of stock carried over the panic Prob
ably the weakest feature Of the market was
the disposition of small operators to let the
market alone pending the settlement of the
fight between Union Pacific and Northern
Pacific interests.
The best opinion seems to be that the
Hartman. .Kuhn-L Loeb interest, il 1t does not
control absolutely. has. at any rate so
conciliated by the Morgan following. Con-
tinental Tobacco has shown good deal of
activity and strength, and insiders are
is some talk Of its consolidation with Amer
lean Tobacco. on basis of two shares Of
the ,f7i former for one one OF & tho latter. ar. - A..
market. but It Is improbable that its lease
will be upset. 1t Is probable that the un-
with the saggins tendency here. and foreign
houses are disposed to extra healthy revival
Of foreign buying If the settlement on
fractions have been somewhat heavy on
sales of long stock, believed to havs been
made to cover losses In other parts of the
market.
Opinion on the market outlook Is very
much divided. and It seems to be a case
where the judicious investor will pick up
| though fairly hard. and nothing showed any
serious decline on the day. in spite of fairly
persistent liquidation. Good support was al
ways Forthcoming in Union Pacific. the
steel stocks and Missouri Pacific, and none
of the big interests seemed to be unload
Inc.
Considerably more ease was shown in the
money market, as per cent was the best
rate Of the day. and 1t was fairly plentiful
! at s per cent at the close. The volume Of
trading showed very important falling off,
and the number of shares dealt In did not
amount to half the average days trading in
the recent activity.
BOND SALES AT NEW YORK.
REPUBLIC SPECIAL
New York. May ls.-Sales Of bonds were made
/ here to-day as follows: