The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-16
Dimensions of Trading in
Southern Railway Shares
Break all Records
ILLINOIS CENTRAL AIDED
General Belief Is That This Stock
VIII Gain Benefit From Read
justment of Louisville &
Nashville Affairs.

NEW YORK, April 15.-The dimensions
OF the trading in Southern railway stocks
today ecllpSed any ever before seen on
the New York stock exchange. The to-
tai number OF shares of the common
shares outstanding is 100. 000 The deal
lngs recorded in the stock today We're to
the number of S64, 500 shares. April "a,
1901, Union Pacific was dealt in IN the
extent of 662 800 shares, during the strIIg-
gle between the Morgan and Hartman
interests in the transcontinental field
Inc inquire was far in excess of any
previous days dealings in single stock
until today. The tremendous volume of
these dealings dwarfed the rest of the
market, and yet there were number
OF other stocks in which the dealings
were on a scale only seen during periods
OF great speculative activity
Inc opening in Southern Railway was
quiet enough, and the opening bulge in
Louisville & Nashville, to nearly four
points over last night awakened some
nlomentary skepticism of the overnight
reports of settlement of the dispute
1or control of the Louisville e. Nashville
But the parties in interest were already
In consultation when the stock market
opened and there was a scurrying Of
brokers' from the neighborhood Of the
consultation rooms. Immediately bIy-
Ing orders appeared in Southern Railway
for seemingly unlimited amounts of the
stock.
The movement in the stock did not be-
come wild at any time, in spite of the
extreme advance Of 6A points to 1919.
Inc reactionary tendency Of Louisville
q NASHVILLE was also a convincing dem
oDstratlon that the struggle for that
stock had terminated, and the scramble
to get out by the smaller operators who
had followed the deal carried it down Inv
however, left it at LIT, a net loss o,
only point.
Professionals at Last Weaken.
Southern Railway suffered at the last
from the profit-taking on the part Of the
professional element, which bought the
STOCK recklessly, but were apparently not
disposed to remain in 1t over night IN
race Of the many possible contingencies
still open in the situation. The reaction
carried Southern Railway back to 37%
and 1t closed only 1H higher at a net
gain Of 37s. The preferred stock gained
The extent of the public information
when the stock market closed was con-
tanned in the formal statement by the
Gates element that they had bought CON
troll of Louisville & Nashville, and that
they proposed to leave the settlement of
the dispute to J. P Morgan & Co. as
arbiters: This was accepted as conclu-
Sive evidence that Southern Railway
would be benefited by the settlement.
Inc heavy buying of that stock was
by, brokers usually employed by the in
side interests. But the volume of the
dealings was sufficient indication that
shared in the buying. The movement in
Illinois Central and in Chicago, Indianap-
oils & Louisville were directly in sym
pathy with that in Southern Railway II
is supposed that Illinois Central will be
allowed to share in the benefit of the
Louisville absorption, and that Chicago
Indianapolis & Louisville will possibly
form a connecting link to Chicago.
Large st. Paul Buying.
The very large buying of st. Paul was
supposed to be due to renewal of The
campaign for rise by the element which
bought Louisville.
There was some strength in the other
grangers and Pacifics, and in Pennsyi.
vania and Baltimore g. Ohio. Amalga-
mated Copper advanced at one time over
point, but did not hold it. There were
notable advances in SpecialtieS here and
there, international Power rising nearly
IL points. But there were also points 81
weakness, and outside Of the congesteC
centers of activity there was not a no.
table demand for stocks
Ihere was some Stiffening of the money
rate again, but the continued calmness OF
the money market through the day re.
lieYed the apprehension that was felt lest
the enormous speculation should develop
Stringency. The easing of the exchange
market indicated that borrowing in for.
eign markets was being freely resorteG
tC. General considerations received lit.
tie attention. The market closed ir.
regular under realizing.
The bond market was irregular. Tota
sales, par value, $4 $4,000.
United States bonds were all unchanged
on the last call.