The daily morning journal and courier., 1901-05-23
Fl tmaucral.
THE STOCK MIRKET
Falls stilI Further Into Apathy.

Falls Still Further Into Apathy.
 New York, May 22.-The stock market
 fell still further into apathy to-day and
 was only relieved from semi-stagnation
 by the movement in the Erie stocks.
 Considering the present indifference of
 the speculative public to the market,
 the volume of the transactions in Erie
 must be accepted as significant The
 professional traders, at a loss to secure
 even a fractional profit on turn in
 the market fiocked to the Erie crowd
 ed their speculative operations to the
 other buying of the stock. But the
 opinion gained force on the exchange
 that the movement marked resump-
 ton of operations for the extension of influence and control of existing rail-
 road systems. The buying was attrib- uted to Wabash interests, and there
 were sundry circumstances which off,
 fered some corroborations. Statements lr%ere published this morning to the ef- feet that a controlling interest had been
 secured In Lackawanna in order to af- l bash and the Gould Southwestern sys-
 tenn.
 ] This evidently represented an effort
 to account for the recent strength of Wabash and its southwestern afilia- tions in face of the disappointment over ! the non declaration of dividend on
 Missouri Pacific. It has been stated
 With particularity for several days past
 that the buying of Toledo, St. Louis and Western stocks was for Vanderbilt account, and 1t was claimed to-day that control had passed It is to be consid- cred that these roads run over closely related territory, and the activity in their stocks favors the presumption that the problem of their future rela- tlors and control is being worked out. The strength of Chicago, Indianapolis and Louisville and of the Chicago Great Western stocks may have had a bear ing on the seme problem. The strength of the bituminous coal-carrying roads was directly attributable to the declara- tion of a dividend of 1h per cent. on the common stock of Hooking Valley, the first in its history. The Wheeling and Lake Erie stocks. Norfolk and | Western and Chesapeake and Ohio all moved upwards In sympathy. The strength of the Readings was called in sympathy with Erie in its character as q n n ott tta orria h,1f E-rio fhn only one of the group to maintain its advance This stock closed al the high est at gain of PA points. Some of the individual blocks purchased ran as high as 6O0O shares. feature of the day was sale of Northern Pacific at I'll, compared wIth 156h last night, but the stock dropped back again to 16O.
 An unpleasant impression was pro- duced by suggestion that the author < tiles of the London stock exchange would rescind the suspension of rules for buying in of Northern Pacific stock against the shorts. At the last settle ment, 1t will be remembered. the diffi- culty on this account was adjusted by allowing the shorts 70 carry over at a fixed price. But this left their con tracts still uncovered and the buying : in of shorts for the next settlement, which occurs next week, would be the occasion for renewed uneasiness. This { suggestion and the announcement of $500 GOO exported gold had a part in the I early heaviness of the market The fact that there were no additional gold !, contrary to expectation, may have had some influence in the later hardening of prices, but the viz orous advance In Erie was the main factor.
 A number of minor industrial stocks were strong on very palpable manipu- ations. Des Moines and Fort Dodge . vas lifted 2% and the Wisconsin Gen. ral stocks and 2A respectively, for X he common and preferred. Tn the gen. ,ral list changes are small and some ! what mixed. < The bond market was not very active, | ut showed some strength. Total sales \ oar value $4,450,000 United States new fours declined 4 ,er cent on the last call. 4