Show L lo l ale IMERfED FROM GLOOM IUn IUnQ D Clouds Which Hovered Over Wall Street Have Disappeared Confidence Restored j I ° J Better Feeling Prevails L Th I With Rush at the Last Yesterday Closing 1 prjcc ofSlock Went Up a R Yesterday About at the Top and With Net Losses Let After Thursdays Session Pretty Largely Recovered Western Potentates Again i 1 in the Market o I r f II I CV Tork May 10Wall street c triergeti ci from Its gloom this morning and tCer With growing confidence 11 the day I ela I rsanlfested something like buoyant tion Prices of stock went up with a lon at the last closing at about the rsh3t topS with the net losses left after yesterdays session pretty largely revered I re-vered remaining on some clouds There were rcmlinllg this morning and some I th ° situation natural trepidation lest the violent col iinsc of yesterday should have somo casualties i1PS which would not be closed rasualtes clearinghouse sheets oC the until the elearlnghouse or I stock exchange had been made up BALANCE SHEETS CLEARED Early In the day the official announcement announce-ment was made that the sheets of all L the t members of the exchange had been I erfcctl and that all the j cleared perfectly al checks had been honored This relieved I and I the last feeling of apprehension J the feverish and earnest signs which r were manifest In the stock market du I rinc ite the first hour disappeared Things quieted down into a steady condition of I taslness such as has not been wit tttscd tslnes in Wall street for many weeks TENSION REMOVED measures taken over night to dir situation left l little to fear the lte S siuation allow the shorts In VJtEi Pacific to settle at 150 real y hel Pacic wiped crisis and into the root of the of yesterday the impelling causeo irk rat i te The announcement by 1 the fcl that yesterdays loans which nnn I aonwu LIII b had been provided ny Institutions of the street the leading t Insttutons mid not be called today kept the rold lec situation free from additional tension REBOUND IN PRICES With threatening conditions removed rebound in prices was antural and in evidence The extent to which it ran attributed and was was however a surprise aI > pscses There Is tributed to various varl 1 no doubt that among those who v ere I heavy losers in yesterdays slump were man of ample resources who viewed I the situation with a sporting Instinct and n determination to recoup losses market It was the Y y toUowiB4ue n irHet I popular hcllcIlxYvAV come of the Western West-ern jiotcntates ho were admittedly forced to walk Bldcwayn during R portion of yesterdays events were again in the market this afternoon in a ngln bold attempt to retrieve their losses BREAKING OF THE CORNER I The obvious leadership of the movement move-ment of Union Pntlflc and the South j western group gave ground for the I conjecture that it was based on benefits expected to accrue to Union Pacific from a control of Northern Pacific a control which was still stoutly claimed toJay but ns emphatically denied by the JJIllMorgan parties I was re jiiprkcble that the brecklDg of the corner I cor-ner in Northern Pacific by the settlement settle-ment with the shorts at150 brought almost al-most n stock upon the market But it is evident that the contesting parties r in Northern Pacific are not yet prepared pre-pared to let go of a single available share of the stock SETTLING WITH SHORTS i The settlement with the shorts progressed I pro-gressed today at thp olllcea both of Kuhn Loch Co and J P Morgan Co and It is probable that only the completion of the settlement Mill re eal how much of the purchases of stock made by the two parties within the last week can be delivered The bargainhunters were also on hand In Wall street today although Qi their operations fell away as the recovery recov-ery In prices progressed During the morning however a large number or I tranEactlons were recorded for cash both in stocks and bond which Is the I manner In which the bargainhunter usually rays for bus purchases PAXIC I UNNECESSARILY VIOLENT t Thcr Is I a belief in the stroet that this I panic was made unnecessarily violently violent-ly the excitement of some of the newer members of ihe stock exchange many I o t whom It is r are very young men I euppoaed that some of these made undue J i un-due sacrifices in the chaotic conditions I on Thursday buying Turda There was some I back of stocks from these sources and J US I also by those who got out in time early I I m tho week and wanted to get back HOLIDAY WILL HELP MATTERS Tomorrows Impending holiday It Was felt insured a period for calm ret re-t I li Uon whIch must tend to clear the o I uiuatlon still further There was also tore manipulation of prices for the n ir r lie ° f those whose borrowing had been largely Impaired by the shrinkage in m I 1 CliaIerai lIon 1 values Some of this manlpu C r SL mwns also with the vlew of the ii l1nCfor the london market where 11 there 13 a nci > odlcal settlement on Mon it day PnBn which u Is much dreaded by the d 1nglsh ii lcrators In America owing to ii u the n ° anr declines since the last set i S lkment J temnt WhIch w111 have to be made god I RAPID RArE OF RECOVERY I adnn mof the more notable of the days la t S5rwerc LnJPn Pacific 22 St inlMYi iil ikacknwanna ISi each Con ildated tlrated Gi1 1C BurlIngton and Amal Iatcd Copper 12 International Louis OttOr iVj Baltlmorr Ohio J St rarJn iUnvcfllorn preferred lOA Su far Delawre Hudson and General lectrlc ijarC t 19 XO REVIVAL OF BOOM D Th15 repreens a rapid rata of recov m flom hursa the Cxceedingly low prices L which bud I already hpcn lrgpI alrcnc lrgeiy of tho cc ° vpvd In the violent rebound cre late trading on lllc exchange all ihi WfH nn obvious disposition to this he l D S a revival of thc boom on l1r of ome more sanguine or the s f lft Iemtint But utter the W ck s nt uCel fk vn ri s Ocr exp vlonce ° r the severe penal s tn o sPeculation a renewal of the tlIC WoUflil5 OM strongly deprecated That 33 it OUnu caued by such u collapse Ii I I In Tlfllrsday arc not to bc on = 0 tli t tiny Is J Patent The condi the banks f Ctgen aCter yesterdays crgCn before 1fleflsUres will tnt to hC adequate jud Jtidfmerit can 330 Plaed upon the Outoolti W It OT A SINGLE FAILURE j i 1AlLUI1 a it PrIJd remarkable net tjiftt L < CUCfltcdvjolece thi tjlc un iol cc of Thursdays up set should have resulted In not 3 single failure on the stock exchange The commission houses generally were averse to accepting much new business today STUPENDOUS LOSSES The losses yesterday were stupendous stupen-dous One commercial paper places thc loss sln the bucketshops throughout through-out the countryyesterday at 30000000 and 1C the Hgtire Is anything like correct cor-rect it conveys n profound impression of the shrinkage in the legitimate places Naturally the greater part of these were losses on paper but they I were all sulllcicnlly tangible to be counted bj owners and could at onetime one-time have been realized upon OTHER STORY SHORT 01lER i The other side of hte story is short btu it is full of tajcs of Yankee enchantment en-chantment The men who had little dribs of Northern Pacific and claimed fortunes on them are generally the heroes of these tales Then there were the few men who were wise enough to profit by the slump of yesterday and got the opportunity to do so Everywhere I Every-where in the street today they are holding hold-ing postmortems Some of these inquiries in-quiries show that there are men whom a quick recovery of the market alone will save from ultimate bankruptcy TREMENDOUS BUSINESS Yesterdays tremendous business on the slock exchange was reflected in to days exchange of bank checks which a aggregated 59S537llOf and which brolte the record of S5GS81J206 made on Tdcsday last l The balances were S 23 i 873116 the second largest on record t andcOniparflW1Th f the record of 2J IJJ on iMnrcn Din I QUIET AGAIN REIGNS Tonight everything Is quiet in the I Wall street district and a the uptown hotels and clubs where groups of stockbrokers I stock-brokers and bankers and operators usually gather Wall street which during dur-ing the past week l had been wide I open and brilliantly illuminated at midnight for the pGrpose of allowing largeforccs lC rk S bookkeepers and I messengers to arrange for midnight recording re-cording of transfers of stock in preparing pre-paring for the coming days labors tonight to-night had assumed Its normal l1 condition condi-tion r Lon WORST IS OVER At places like the Union League club and the Waldorf Astoria many interested inter-ested persons gathered to discuss the sky rocket occurrences of the past week and express feelings of relief that the stock exchange will he closed tomorrow and the belief that the worst of the May panic of 1901 is over The fact that no trading will be done tomorrow on consequence of the action of the board of governors of Satur the stock exchange In declaring day a complete holiday so far a the I brokers are concerned is welcomed by the tired clerks who have been working work-ing overtime since the boom in stocks started and night and clay since the recent t pyrotechnic movements of commenced Northern Pacific common I MANY ALLURING STORIES At the various hotels theaters and clubs tonight the most alluring as well afe the most renarkable stories are told of the gains and losses In stocks in genera gen-era and Northern Pacific In particular particu-lar during the past week The truth of many of these stories will never be known for the reason that the wildest the est excitement prevailed during break on Thursday the time when losses and gains were most pronounced and now that It Is all over the e who were said to have made heavy winnings naturally are not interested in denying reports of their good fortune for-tune or good Judgment and especially when these reports only add to their financial credit KEEP TONGUES STILL On the other hand the deals of tho men who are credited with losing In the recent excitement are generally not belevee by their friends and the unlucky un-lucky ones or alleged unfortunates are speedily learning l lat the best thing that theycnndo under the circumstances circum-stances Is merely to laugh at the reports re-ports without protesting too much and I too long that misfortune has passed them by I The very fact that there will be no t fi1lnr unfit rtavt Af n < 1o ir mrrnnr ii t is LILII said t UIlI glvea the leaders I LUtlUIy in 1 IJIJIiIIflb the stock I I market men like Hill Harriman Vanderbilt Van-derbilt Morgan Rpckefcller and Still man time to compare notes and exchange ex-change views CONTROL OF NORTHERN PACIFIC I Is noticeable that discussion tp night centers upon the question of control con-trol of the Northern Pacific So far as actual control is concerned the Impression Im-pression Is gaining ground that it will be the party with the most money that will acquire It Many of the dally papers pa-pers and some of the financial papers 1 today expressed the belief that control con-trol of the Northern Pacific was still vested In the MorganHill party On I the other hand one of the leading papers pa-pers of the city and some of the financial finan-cial organs of the street still express the opinion that the Ilarrlman party I Is in control TWO OPINIONS One thing seems settled tonight and that Is that Kuhn loeb Co Jo not yet admit defeat L Late today Otto IT Kuhn of the firm did not hesitate to say We believe we have control J J Hill on the other band however how-ever was quite as decisive in reiteratIng reiterat-Ing his previous statcnicnts that the control has not changed As a matter of fact there aecms to bc no reason for doubting that both interests in-terests have control so far as stock In their possession plus contracts for delivery de-livery l ure concerned but which Interest Inter-est will eventually be able to vote a control in the form of actual certificates certifi-cates remains to be scen arid will it is tonight believed not ber definitely known until the annual meeting In the fall I J HlghIrlce for UTortjiern Pacific NewVork May lOVlhe iJOO shares o Northern Pacific common which sold yesterday at 10gO ti share are said to have been for a Chicago broker r who iiiE is supposed to have bought them for I I a prominent operator of that city |