Waterbury Democrat., 1901-05-13
IS STRONG AGAIN
Stock Market Bolstered Up By
 News From London.
J. P. MORGAN IS HELPING OUT.

Union Pacific Sold $40 Share Higher
 To-day Than at Closet of Business
 Friday-Heavy Buying of Union
 Pacific Has Continued All Day.
 New York, May 13.-Under reassur- ing news from London to the effect that basis of settlement with the Northern Pacific shorts had been agreed upon and that J. F. Nor gan was lendSng the stock fiat" for delivery in that market, the New York stock exchange began business to-day strong. To judge by the first prices on the tape no impression whatever had been left by last Thursdays tremen- dous drop in values. The first trading was we'll distributed throughout the list and was at prices generally higher than the close on Friday. Union Pa eific sold at 116 a few minutes after 10 o'clock, showing a gain of $40 a share as compared with Thursdays low E point
 Developments in the Northern Paci- nc situation are awaited with the keen est interest but it was the general opinion in Wall street to-day that 1t would be some time before the ques- ton of control would be definitely set tied 1t is believed that one party to the controversy holds control through the preferred stock, and that several Intricate legal points are involved con corning the right of the directors of the company to retire the preferred stock at par and thus deprive it of its vot- ing power.
 The heavy buying of Union Pacific which up to the present has not yet been explained was continued to-day. and during the first half hour of trad ing the price rose on large transactions to 123.
 The rise in Union Pacific was ac- companied by a similar but not as ex- tensive movement in Amalgamated Copper, which after opening at 116% sold up to 120aI. an advance of 5sz as compared with Fridays close.
 Wall Street. 10:10 a. m.-News from the London market was scrutinized with lively interest in Wall street this morning. The beginning of a fort nightly stock exchange settlement was expected to show the effects of last weeks events here. including the cor ner in Northern Pacific and the fall in prices of other stocks. The news that
 
 the shorts in Northern Pacific on the basis of 40 in London was therefore received with great satisfaction. That stock was lending flat for the stock exchange settlement. St Paul had ad- vanced Sls in London over Fridays closing parity here. and other leading American stocks from a fraction to 2 points. Reading. Baltimore and Ohio and Pennsylvania were the only stocks to show important declines outside of Northern Pacific. which fell 1874 as a result of the relief extended to the shorts
 The course of prices here was strongly upward generally at the open ing. but there were a few exceptions showing sharp losses. Union Pacific sold at 114115 to 116. compared with 112 on Friday on the first sale of 12OO0 shares. Delaware and Hudson jump ed 0ll. St aul 131a. Louisville and Mis- souri Pacific 2. each, Atchison 2h and American Tobacco and Continental Tobacco 2 to 2A respectively. Anal gamated Copper was advanced 2 points and American Linseed pfd sold 6 points higher. U. s. Steel sold at 4G to 45. compared with 45 on Friday on the sale of 10000 shares. but the pre- ferred stsck was carried down to 93 and 92 compared with 93H on Friday on the sale of G.0O0 shares. Tennes- see Coal. Southern Railway preferred and New York Central lost from 1A to 1sI.
 Wall street, III a. m.-Realizing by traders caused the active stocks to run off, some of them yielding from 1 to 3 points The trunk line stocks fell two points or more under Friday. Re newed buying of Union Pacific carried 1t rapidly and feverishIy upward to 1231z and the general market rose strongly in spots. St Paul advanced to 1884 and Amalgamated Copper to 122. There were material gains iD some us- ually inactive stocks. such as North west, Chicago and Eastern Illinois. Wisconsin Central. pfd, Consolidated Gas. General Electric, Colorado Fuel and American Express, which rose from PA to g.. At Il o'clock the mar ket was very irregular the buoyancy of Union Pacific being utilized to COW CT sales elsewhere. Brooklyn Transit was off one time over ? points and Union Pacific and Amalgamated Cop per as much from their top figures. New York Central and St Paul rallied strongly to the best.