New-York tribune., 1903-04-15
WALL STREET CHEERFUL
Hopet"t ToLk about Northern Sc
car'tles arrangements.
}, P. MORGAN NOT TO SAIL TO-DAY

Wall Street tuned down its nerve STRINGS ,,es+e-
day. stocks recovered, and a feeling of confidence
ana cheerfulness drove away Mondays fright
Inc hlshiy unfaVorahle influence of the merger
decision seemed TO have spent itself Trading in
the last hour involved almost 2oo 900 shares and
the net gain for the day ranged from about ! 10 2
points throughout TIE active list The total sales
We're SIosSo shares, against 1294 800 on Monday
and $4,000 shares last Tuesday
Northern securities continued n n. .h 1o.5i-,
feature irad1ng in this security on the curb was
less active than Monday but the price recovered
Suostattially from Mondays depression. The stock
opened at 9F4, rose 70 eSl4 and closed at s77s
ne most interesting report Of the day concern
ing the Northern Securities case which an
peared TO he based on good authority was that
the decision Of the United States Circuit Court
against the company would not be carried TO the
united states Supreme Court. This report was
promptly declared irresponsible by member Of
j. p Morgan & Co, who said: Tn regard TO the
statement that to appeal the Northern
Securities case may say that we have sixty DAYS
IN which TO appeal But We have come TO con
clusion yet what we shall do"
It was said that counsel for the Northern Securi-
ties Company had arranged three alternate plans
which they together with influential bankers
would present to Attorney General Knox at Wash
ington for his Endorsement of one Of them. II was
reported that they would at conference in the
near future status for the securities in
volved which would be in conformity to the law.
This report little credited in well informed
Offices.
1t va; learned that Mr. Morgan had decided not
sail for Europe to-day, announced some DAYS
ago. II said that his departure would be de-
ferred at least another week. Denied knowledge of
the causes which led the change of the bankers
mind. it was natural for Wall Street to discuss the
postponement in the light Of the recent uncer-
tainties which have developed from the Securities
company decision. The trend OF the better in
formed opinion the financial district is that Mr.
Morgan VIII not leave New-York until he and his
associates legal and financial. have finished their
study of the unusual conditions which have arisen
adopt. and that when decision has hee:a reached
Mr.. Morgan Will himself announce it.
4 question which was often asked yesterday was
whether the recent decision would prevent the
declaration and payment Of dividends by the com
panies affected by the decision. AS one broker put
il '.AS for acquiring other roads or voting stock.
now II is the question to whether shareholders
win receive their regular dividends In some man
ner.''
The question was answered follows: As to
eru. Northern Pacific and Northern Securities for
the quarter about due. Last wear. at this time
the Great Northern dividend was declared on April
: paid Nav l. The directors Of the other two
the month TO take action on the
spring dividend. If the application for appeal ana
stay is filed promptly. as II mas already peen
stated will be done. and the stay Is granted. II
viii that the various companies would be Tree
10 declare their dividends for the present period
President Hill Of the Northern Securities Com
pany was led talk again because of a rumor that
that company would dissolve at Cnce: MI mn
emphatically denied the He said:
There's word Of truth in that story There
Is intention the part Of the Northern Securi-
ties people to dissolve the company. On the con-
trary. preparing our appeal papers 10 ne
ready in day two Were going right on