The daily morning journal and courier., 1901-02-05
Y EtMaMCtal.
THE STOCK MARKET.
Uuder the Influence of the Purchase of
 the Southern Pacific.

| the SOuuneth faclnc.
 New York, Feb. 4-The stock market
 was under the influence of the news of
 the purchase of control of the Southern
 Pacific by syndicate in the interests
 of Union Pacific. Notwithstanding the plain corroboration by the tape on Fri day of the rumors of the "deal" the
 spectators were not without doubts,
 and the official admissions after the
 market had closed on Friday found the
 street in state of unpreparedness. For
 while rumors of deals have been thick | for weeks past, this particular one had
 not been formulated. The consequence l was a large and excited demand for
 stocks at the opening this morning. As
 q result of the accumulation of buying orders in commission offices since last Friday there were wide openings in va rious stocks under the excited bidding of competing brokers. They bought 1250O shares of Union Pacific upon the | fall of the hammer at simultaneous
 prices of SS% to S9A, as compared with 1 STA on Friday night.
 The opening price in Southern Pacific
 was the highest, that stock selling at
 both 47h and AT on the transfer of 5000
 shares. The demand came from Lon don, ana the opening price here was considerably below that established In London this morning. Opinion i'll Wall street does not lean to the conclusion that the sale of the road Is for the ben- eft of the stock which remains in the market, as it constitutes a minority stock of a road presumably to be oper- ated for the best interests of Union Pa cific.
 The professional spectators took an active part in, the market, with the ad- vantage offered of the large outside de- mand for stocks attracted by the South ern Pacific deal In the manipulation to advance prices one operator made demonstrative bid for 10000 shares of Union Pacific at 90 It was quickly supplied in a single block and as a con sequence Union Pacific ruled below that for the rest of the day. The comple- tion of the Southern Pacific transaction caused additional credence to rumors of other similar transactions. It is high ly prob. ole also that the likelihood of further such transactions is increased by the fruition of this plan. The large demand for Atchison and for Rock Is- land was attracted by this probability The movement in these two stocks was, on the whole, the most conspicuous of the day. The advance in Atchison reached 39s and in Rock Island 2ai on very large dealings. The movement in ! Louisville was apparently based on the fact that 1t has had no considerable rise since its dividend has been increased. l The buoyancy of the Chicago Great l Western stocks gave color to recent ru- | mors that it is to pass to control of | some larger road The common stock | advanced 1H the preferred A 31s and the preferred S3s.
 The rise in the railroad list. which was very general in sympathy with these movements, invited heavy realiz- ing, and the bull spectators turned their attention to other quarters of the list to sustain the market The most | result of this was shown in the local tractions, Brooklyn Transit and Manhattan rising S% each and Met ropolitan 21h There was period of activity and strength in the steel stocks which lifted them from l to 3N Pu- 'nors that the threatened conflict in the steel trade had been averted by agree ment helped the movement. The whole market was inclined to run off in the late dealings on realizing and the clos ng was rather easy.4 Sterling exchange continued to advance, notwithstanding m easier money market in London and he possibility of gold exports this week s still considered.
 The railroad bond market was strong and slightly more active than on Fri lay. The total sales par value aggre- gated $7,31O,0o0.
 United States bonds were all un- changed on the last call.
 Closing Prices.
 Following nre the closing prices reported y Prince & Whitely. Bankers and Brokers, 2 Broadway, New York, and 15 Center st.,