Show I I I I UNION PACIFIC AGAIN BOOMING t 01 General Ge erI Market Failed to Fol Follow low in the Wake I I MERGER SECURITIES STRONG STRONGS S MARKET CLOSED wu UPWARD RD TEND TENDENCY NCY J New ew York March Pacific a movement today similar In char although or of less violence than that or on or of last week preceding the I I announcement o of the pia of distribution tion or of the Northern Se assets Rut But this Isolated movement tailed sig signally nally to carry the general marked with It This ot of the general mar market market ket seemed adequately accounted for tor In Inthe inthe the early dealings b by the conflicting movement In United StateS State Steel pre ff erred which sold down more than a poInt below yesterdays closing The general list seemed to b held lit fn sus lun b by these conflicting movements I but the became marked later In the da day when the pressure against United States Steel preferred was re relieved without a recovery however while the rise in Union PacIfIc became m more re buoyant The renewed n e t In n the o merger S securities on the curs g was tt the only re spouse that ml mIght ht be In sympathy with the rl rise e In iii Inon Pacific The list remained inert until the Ule rally rany just justat justat 0 at the close los The Phe source or the trio mo moth th tive ot of the buying or of Union Pacific was wasas wasas as much or of a mystery as ever cr but there therean can an be no doubt that the suspicion has hns gained a hold old on the speculative corn om that all alJ is III not peaceful In the tho Process or of undoing the Northern ties merger The fear par gains sains ground that the thc real point at issue Is an advantage or of position In the transcontinental field whIch threatens to reopen the whole dispute which was wan fought to so violent violenta a termInation In 1901 1001 The fear Is fos fostered by the tra or of the tho hIstory of the formation or of the Northern S curl ties company compan and b by the republication of the b by E Ii Harriman In a public that the transfer transferor or of his holdings ot of Northern Pacific was by private sale to J P Morgan Co and not by deposit l or of the thA stock with the Northern Securities company compan for tor ox I change Into their stock The Impression thus set afloat In Wall street Is that 0 the Inton Pacific Interests are stand I lug out for the return or of theIr original holdings of oC Northern Pacific and the control or of that system while It Is also felt that there Is no more disposition to yield this peaceably than at any other previous time Reports or of enormous loans made on Union mien PacifIc collateral kept alive alivo the cuno t as to tho ab absorption absorption sorption or of that stock toek but threw no ll light lighton ht on the question It was ns not until the closing dealings that the tho showed showe I any sign of response to the Union Pa I S A rise of ver er 2 poInts In St Paul and 1 l In SoutHern Pacific then pulled the general list up to last nights leol or slightly above The heaviness or of United States Steel preferred was duo due to the fears ot of a statement or of the earnings for the r to be made at their meet Ing next week which Is I alo to act on the dividend The February statement of nf rles net earnings and of Canadian for the period wore not en encouraging encouraging The session or of the stock ex cx exchange change passed d without an any announce announcement ment or of gold exports bY tomorrows stE steamer mer although foreign exchange made a further There was some revivals SC r a crop score scare on ac account count or of dry dr weather In the southwest The market closed quite firm Bonds were Irregular Total sales par value lup S United Stat States St 26 nail new 48 1 anti and coupon and old ii per ver cent on |