The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-18
STREET UNCERTAIN
FUTURE COURSE OF STOCK MAR
I<ET is A MATTER OF MUCH
D0FBF
SOME STRENGTH YESTERDAY
Renewal of ActiEity In Northern
Pacific Preferred After n Long
Period Of C61,pIete
Stagnation.
~ Closing
Thursday We

Call money, New York 3osl5
NEW YORK, Oct. .17c-Todav,s stock
market was again quite sinconclusiye as
as index to any speculative sentiment
Confusion and hesitation were the only
teenngs revealed. Although prices COW
cred a considerable range and in some
cases several times, th,net changes of any
consequence Will be found very few. The
same brokers, acting to all appearance
s s;d she f same am interests were on different
the day. This was especially true of
the operations in the Southwestern rail-
road group, in which heavy selling, seem
ingly by inside interests, was followed by
seemingly heavier buying from the same
source. Midday eakness in this depart
ment Interrupted the hardening today a s
1t dld Yesterday. The feature of the
morning dealings. was the marking up of
a number Of high. priced Investment rail-
road essstocks.ss, This movement. was
prompted by the sales yesterday of Lake
transactions, and the, alleged raising of
the bid for Chicago, Burlington & Quincy
to I'll, which proved ON, Investigation to
be wholly WI fictitious. On this rather
sapient dissertations upon the Significance
of the pressure of capital thus revealed
into the high-class railroad stocks and
the example was taken up this morning,
possibly by investors and possibly by in
geniouS professional Operators who have
been seeking to awaken speculative in
terest in stocks. The movement had lost
much of it's force by midday Much more
impressive. was the sudden activity in
Northern Pacific preferred, after a period
OF practical yStagnation. lasting ever since
the panic of May ,9.as7sNots only was the
demand for this stock quite strong. but
the supply was extremely liberal, many
1,000-share lots being dealt in, and the
days transactions reaching a consider
able total. Among the prominent sellers
were brokers often employed by capital
lists whose jealouslS< guarded control OF
the company is, known to be maintained
by holdings of the pfefefred stock. The
Incorporation in IOWaIze ga Chicago. Bur-
lington & Quincy flRaiF@ay company,
stated to be for the purpose of acquiring
the Chicago, Burlington & Quincy rail-
road, coupled with this movement in
attention to the recenf1y prevalent re-
ports of progress in the plan of settlement
in working out the Northern Pacific
tangle but the Influences of this develop
ment did not extend beyond st. Paul,
Great Northern preferred, Union Pacific
and Southern Pacific. Amalgamated
Copper continued active,s but the belief
grows that this stock is Influenced at
present by a spectilat fve deal between
professional operators, rather than the
actual condition of its finances, or the
trade. The stock. vas arm to- strong,
and shows net gain IA. Sugar was
another prominent feature and gained for
the day IL. The covering of .outstand-
ing shorts was an important influence on
the latter STOCK. Inc weekly EXHIBITS OF
the great European banks reflected clear
ly the strained conditions which have de-
veloped in the Paris money market, while
the condition of the Imperial German
bank showed a material and unexpected
Improvement. Otherwise there was no
marked change in the money or interha-
tional exchange situation.
Railroad bonds were quite firm on a
good volume of business Total sales,
par value, $1,S50,O00 United States IS adj
Vanced II, and the IS coupon declined "
per cent.