The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-29
STOCKS SION STRENGTH
DEALINGS WE'RE LIMITED. BIJT
TENDENCY OF PRICES WAS
UPWARDS
Ga
UNION PACIFIC IN. THE LEAD
Delaware, Lackawahna & Western
Was Second In Point of Activ-
ity, and Showed a Net Gain
of 10 ID Points.
Closing

ri Closing.
Tuesday. Monday
Bar silver, New York. o.. .5sA 595a
Call money, New York.:..331a "a
NEW YORK, May 28--+Bhere was some
show of strength and activity TODAY in
Union Pacific and in Lackawanna Which
had considerable sympathetic effect In
the railroad list. There was some inn
portant strength shown by a number of
minor railroads, and finally there was
heterogeneous assortment of minor indus
trial stocks which advanced on the in
fuence of individual causes in no way
disclosed. There was besides some nat
ural recovery from declines of yesterday
under the see-saw operations of the pro-
feSSional group of traders, who contin-
ued largely in control of the market
The movement in Lackawanna coming
on top of its previous advance of late
carried it up today as high as 244 The
fluctuations were rapid and wide and
the volume of dealings was comparative
" small so small in fact as 70 pre-
clude the SuppOSition of buying fer con-
troll in the open market. Tile dxplana-
ton generally agreed upon was that ne
gotiationS were on foot to secure large
| holdings at private agreement and that
the bidding up of that stock repr5 sents
efforts to put the prices up to prohibit
tive figures on the part of insiders VINO
oppose change of control. That policy
was successfully pursued some time
since in the case of Delaware &, Hud-
son, and that stock showed some SYM
movement. The coalers otherwise were
rather quiet, Ontario being held in check
! by the weak statement of Readings net
earnings in April. The strength of the
Wabash, Missouri Pacific and the South
westerns generally was related to the
Lackawanna movement, as the supposed
efforts to control the latter are In the
interest of that group. There was Some
! Southern Pacific, accompanied by ru-
mors that further large holdings of
Southern Pacific mad been secured and
would be applied as collateral for the
Union Pacific convertible bond issue in
addition to securities formerly held The
strength Of Atchison, which sold ex-
dividend, was attributed to the April
showing of net earnings The Tobacco
stocks fell somewhat into the BACKGROUND
in the latter part of the day but there
was active and continued advance in the
morning, with persistence of recent ru-
morS regarding the properties. The adj
apolis & st. Louis stocks was attributed
TO working out of a project by the Hi
nois Central to enter the Chicago-St.
Paul field. Chicago, Indianapolis St Iouis-
vile and Des Moines and Fort Dodge
showed conspicuous strength. and there
was also strength in the American Car
and Foundry stocks, Chicago Union
! Traction. Brooklyn Transit International
Power, Standard Rope & Irvine, Amalga-
mated Copper, General Electric and Con
solidated Gas. The formal announcement
that the DanR houses representing the
contest for control of the Northern Pa
cine had given orders to relieve any of
the London shorts who are honestly un-
able to make delivery by paying 1873 for
their contracts attracted attention. The
wording of the announcement was ac-
cepted as indicating the continued eager
ness to spare actual deliveries Of this
stock. The plans of the Illinois Central to
advance further in the granger field and
a purchase of a large interest in the
ONO soft coal field, reported to be fov
the Gould interests. were minor incidents
which were thought to have possible
significance on the question Of an agree
ment between the two contending inter
ests. The engagement of 81 500, 900 gold
for export was NOT knoxZn until after the
| close. Wabash debentures BIS ana Stand
ard Rope 6s We're strong and active. The
railroad bond market generally was dun
! and irregular Total sales, par value.
So, 100000 United States refunding Is adj
vanced Il and new As " per cent on last
call.
STOCKS.
Furnished by Charles II. F. Smith &.
Co., members of the New York Stock
Exchange. Pioneer Press building, who
have direct wires to Chicago and New
YORK. Closing prices are bid.