The Montgomery advertiser., 1901-05-29
WALL STREET REVIEW
STRENGTH IN UNION PACIFIC
 AND LACKAwANNA.
This Had Sympathetic Effect on the Railroad ~List-Some Recoveries From Declines Under
 See-saw Operations.

NEW. YORK, May 2s.-There was some strength and sctieiry today in Union Pa cine and in Lackawanna, which had considerable consider ,, sympathetic effect on the dent strength shown by a number of minor railroads and finally there was heterogeneous assortment of minor in
 dustr.al stocks which advanced on the innuence of individual causes not always disclosed. There wae besides some na- tural recovery from decline of yesterday under the see-saw operations of the pro- fessional group of traders, who continued largely in control of the market. The movement in Lackawanna, coming on top of its previous advance of late, car ried the price up today as high as "A.
 The huctuations were rapid and wide and the volume of dealings was compara- lively small. so small, in fact. as to pre- clude the supposition of buying for con- trol in the open market. The explanation generally agreed upon was that pegotta- ings at private agreement and with bid ding up of the stock represents efforts to put the prices up to pron:bitive figures on the part of the insiders who oppose a change of control. That policy was sue cessfully pursued some time since in the case of Delaware and Hudson and that stock showed some sympathy today with the Lackawanna movement. The coal CTS otherwise were rather quiet, Ontario being held in check by the weak April statement of Readings net earnings. The strength of the wabashes, Missouri Pa cifics and the Southwesterns generally
 was related to the Lackawanna move ment, as the supposed efforts to control of the latter are in the interest of that group. There was some large buying both of Union Pacific and of Southern
 further large holdings of Southern Pa | cific had been secured and would be ap- piled as collateral for the Union Pacific convertible bond isue in addition to se- curities formerly held. The strength of Atchison. which sold ex-dividend, was attributed to the Apr.l showing of net earnings. The Tobacco stocks fell some what into the background on the latter part of today, but they were active and continued to advance in the morning with 1 persistence of recent rumors regarding the properties. The advance in the Iowa Central and Minneapolis and St. Louis a project by the Illinois Central to en- 1 ter the Chicago St. Paul field Chicago, Indianapolis and Louisville and Des Moines and Fort Dodge showed conspicu- ous strength, and there was also strength in the American Car and Foundry stocks
 Chicago and Union Traction. Brooklyn Transit, International Power, Standard Rope and Twine, Amalgamated Copper, General Electric and Consolidated Cas-
 The formal announcement that banking houses representing the contest for con- trol of Northern Pacific had given orders to relieve any of the London shorts who are honestly unable to make delivery by paying 15s for theie contracts attracted attention. The wording of the announce ment was accepted as indicating the con- tinued eagerness to spare actual deliv- linois Central advance further on the Granger field and a purchase of a large interest in the Ohio soft coal field report ed to be for the account of the Gould in- tereste. were minor incidents that were thought to have possible significance on the question of an agreement between the two contending. interests. The en- gagement of sl. 300, 900 gold for export was not known until after the close.
 Wabash debenture B's and Standard Rope 6's were strong and active. The
 railroad bond market generally was dull and irregular. Total sales tpar valuel, 8, 1sO, 900. United States refunding 2s ad- vanced A and new fs A per cent. on the last call.