New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-03-30
HEAVY BUYING OF U. p.
The Stock AdUGnces to 81 I-8, Hugh
est Price of Year.
VARIOUS RUMORs THE RESULT

Heavy ht.--r Of Union Pacific. which in the las'
hour rose 20 ss the highest price Of the year anu
uhlch closed az SIC. a net galn Tor tne Gay o.
a. points was accompanied yesterday by various
interesting rurn0rs The most active OF these Re
-o-te was that competitive buying was going on
between the Harriman-kuhn, Loeb interests anu
the Hul-Morgan interests Another story vas ll'a'
an agreement had been reached by Nhlcn lt'e
Union Pacific would receive back its entire NORM
ern Pacific holdings from the Northern secIIl leS
Company. instead of getting both Northern Paciho
and Great Northern shares.
- Paul was a market feature. second only 20
Union Pacific. advancing % points and closing az
the top and stiu another rUmor had i thar tf'e
ST Pa was buying a large interest in the Union
Pacific A coincideut report was that two loans,
sgEregating 100000 had Just been maze Z" wei
known nagnates. the collateral FOR which IS en-
fire,v Union Pacific stock" the inference popuiary
drawn being that these funds were 20 be deNolea
l, the ST Paul interests their alleged campaign
Of Union Pacific absorption. although some Oh '--9
g:essers inclined 70 the view that II was the N"il"
ern Securities majority interests who were gums
10 the money. also Tor the purpose %
latinC Union Pacific stock Any Of these reports
If vel founded would have been disconcertins 10
the large bear party IN Union Pacific ana me CIR
culation Of them together probably eAp4alhed al
large measure the extensive covering OF snort coz.
tracts. which was feature Of the sharp ADVANCE IN
The stock.
Although confirmation was had % none Of the
several rsrlors the story OF 81. Paul's desire to
control Union Pacific had about Il a certain sweet
reasonableness. The Great Northern ana the
Northern Pacific tried TO buy the St Paul. as was
testified TO by Of the leading rne1H2ers OF ne
Hill Moran group. and. failing that bOuEAL tle
Is.IrIfrrro-. TSut the same powerful financial IN
tarests Who are chiefly influential IN the Union
Pscidc also dominate the 81. Paul. so tLat NlyS.tL
relations between those two systems mlGht Win
comparative case DE arranged, ether ro'c lA'l'e
over control Of the other ,,o- ..t...,,-
The Great Northern and Northern E'acilc 1ol-lly
own the Burlington. through Whlcn tLeE sa--l %
l-derardcut oItles from St Paul ana Allni,
20 chicago. and also penetrate iIe mon -
territory But with the Union Facihc ana lls
81 Paul one road. u argued 10y slfI,erlee.s o.
lie theory Of -. Paul buying OF Union racine "A
system would he created which would not De a.
q great disadvantage IN conIa. isoI WIN 80
Northern Pacilc-Creat Northern E5urllnFtcn s!s-
tom ia which the -nion Pacific viii sun nave an
important minority interest II The present pan on
distributing the Northern Securities stock holqllss
az Northern Pacific and Great Northern Stali be
carried into effect For the 81. Paul like the
F3rIr[rrton. extends from Chicago 70 81 baGl ana
Niv-eauclis and its western terInini are Omaha
and Kansas City. the eastern terIiil OF ne mon
ParilC-the Joining Of the two roads creating q
throurh line from Chicago TO the Golden Gaze. .
The 81. Paul. il was pointed out has $-9.eoVvy
mn ISSUED stock authorized by the stockholders IN
sr atteuut would pc made TO issue that stock Tor
! good while TO come. as market conditions now
are The Union Pacific has outstanding Slts.4a-.sy
common stock and $50 56oleo QreferTes WITH the
former now selling around s. and the latter around
ea tha purchase Of enough az the stock to insure
mercer with the St Paul would Involve the outlay
many millions.