The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-11

NEW YORK STOCK GOSSIP-Report-
ed by H. Holbert & Son: The strength
of today's market has been based on the
belief that the Northern Pacific problem
has been solved, and that the interests
concerned are acting in harmony and we
are inclined to place confidence in the
rumOr that IN agreement has been entered
into between the owners of the Great
Northern and Northern Pacific stock to
place their holdings in the hands of a
parent company, this company in turn to
issue its stock in exchange on a basis of
about 1S5 for Great Northern preferred
and lis for Northern Pacific common,
Northern Pacific preferred to be retired at
par, the management of the Great North
ern, Northern Pacific and Chicago Bur
hngten & Quincy to be in the hands Of
the parent company. We reiterate o,Il.
opinion as to Manhattan that the benefit
to come from the change of motive
power IS not appreciated by the gen
stock sell very much higher We also
venture to say that the purchases of
st. Paul, Chicago & North-W Western,
Consolidated Gas ought to involve hit hut
little risk, although we do not believe
that the general situation or the attitude
OF those who dominate this market war
market
FOREIGN FINANCIAL-I.ondon. Oct
lt--The better feeling in the stock mar
ket continues, although trading is quiet
The1 American department attracted the
most attention today, dealings in that
group steadily increasing N volume de-
YeioPlng into burst of activity on the
streets after the close of business. In
the upward movement the coal stocks,
particularly Norfolk & Western led with
Atchison and Union Pacific also popu-
lar The bear contingent here is rapidly
taxing to cover, apparently looking upon
the campaign for lower prices as ex-
hausted. Authorities predict a sharp up-
ward movement, as all other markets
moribund The Bank of England has
engaged G35,G00 of gold from Egypt and
,929,0e0 from South Africa. Money on
call began at "a on a statement Of last
consolS call and closed at l per cent
The weekly statement of the Bank of
England shows the following changes:
Total reserve, decrease .......... 1894, 90
Circulation, decreased ............ $50 600
sutton, decreased 1890. $4,000
Other securities, decreased ...... $4,000
Other deposits, increased ....... 1867 020
Deposits, public, decreased ..... 2,6O1, OG0
Notes, reserved, decreased ..... $50, 600
Government securities. increased 1850 GO
The proportion of the Bank of Eng
lands reserve to liability is 4e.9 per cent:
last week it was 46.5. Rate of discount
unchanged at 3 per cent.
Paris, Oct. 10.-The weekly statement
of the Bank of France shows the fol-
lowing changes:
Notes in circulation, decreased. ~, 80, coo
Treasury accounts current, in
creased ......, .................... $3.50, 900
Gold in hand. decreased ....... Il, 75O,0S0
Bills discounted. decreased. -. LIE, 25n, coo
Silver in hand. decreased 1880. II. 275OCO
Three per cent rentes, 1OOf s21sc for
the account Exchange on London. 25f
lie for checks. Spanish As $780,
Berlin. Oct. 10.-The weekly statement
of the Imperial Bank of Germany shows
the following changes:
Marks
Cash in hand, increased .......... $4,000
Treasury notes, decreased ........ 100000
Other securities, decreased ...... 749, 900
Notes in circulation decreased. .6S, $50 coo