Show EFFORTS TO SETTLE Le N SITUATION NEW YORK April 15 Negotiations looking to a settI settlement of the L. L N. N s situation were resumed at the bank bank- ing house e of J. J P. P Morgan y Co to to- to day A conr conference r nce began began almost be before before fore the opening of the stock market The conferees included August Belmont Belmont Bel- Bel mont President Spencer of the Southern South Southern South South- ern railway George W. W Perkins and William Pierson Hamilton Mr Morgan's Morgans Morgans Morgan's Mor Mor- gans gan's partners partners- and Talbot J. J Taylor of the stock exchange firm of T. T J. J Taylor Co Mr Taylor is a son son-in- law of James R. R Keene It is also declared that one or more mor representatives of the Gates party attended at tended but this this' could not be con con- firmed Mr Gates wa J at at his office b but t denied himself to all interviewers On the stock exchange L. L N stock sold up to 1312 on the opening sales but fell back to the neighborhood of There was an enormous demand for Southern Railway stocks which lifted them 3 for the common and 3 for fOt the preferred The buying buying- wa waby j by Morgan brokers and was interpreted interpreted inter inter- as indic indicating ting a settlement i of f the question of control of Louisville Nashville in favor of Southern inter ests Illinois nois Central also rose 1 At 1125 o'clock Cl Jck H Harris G Gates t s Co stock exchange brokers broke s 's and representatives tives of the Gates Gates- interests issued the following statement AVe Ve have bought a large amount of f tock stock of Louisville Nashville road We Ve did not b buy yit it f for r speculation but for investment believing absolutely inthe in iIi the present and future value of the property There re will not beany be any corner in the stock We have placed the entire entire en en- tire matter mattel in the hands of J. J P. P Mortan Morgan Mor Mor- tan gan Co and requested them to a act t as is arbitrators In the situation because of or the prominence of the property and the desire not to disturb in any way the general genera marl market et condition and because we know that they have no interest whatever In the pr property perty or in recent purchases The dealings in Southern railway common on the stock exchange during during- the first hour amounted to about shares and for the two hours up to noon to upwards of half a million shares This breaks all records for fot dealings in a single stock for one hour and for two hours on the New York stock exchange During the excited trading in Southern railroad one block of 1000 shares changed hands at 40 The total sales of stocks up to 2 p. p m. m were shares of which were of Southern railway The total issue of Southern railway is shares |