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Show ALLES jD; .10VE TO CONTROL TOE UNION ' PAGMG SENDS STOCKS UP; NORTHERN SECURITIES CAUSES EXCITED MARKET t" . . . ' , NEW TOfcK, Marc 23. Aa excited j and feverish stock market resulted to-" day , from the . announcemenf of . th terms of 'distribution of tha Nojherri Securities holdings of, Great Northern preferred to Northern Pacific stocks. Trading in Union Pacific and Southern South-ern Pacific was on an enormous scale, and almost monopolized the market for a time; but when these stocks began to run off under heavy realizing the demand de-mand shifted to some of the Eastern trunk lines and the Western groups. Some fears were entertained. that the excited buying of Union Pacific represented repre-sented a contest for control, as that company is insured large and influential influen-tial holdings of Northern Pacific and of Great Northern under the terms of the distribution, without any compensatory holdings In Union Pacific on the part of thosa companies. . There was much mystery attached to the whole movement and the suspicion that it might be due - to speculative manipulation kept the tone feverish and uncertain. On the curb market there waseager demand for Northern Securities Secur-ities stock, which carried it up to 106 before a reaction set in. Trading in tha stock was carried on simultaneously in three or four.groaps amongst the curb brokers. . The opening prices for Union Pacific were not held. On the first reaction it' touched 82 and after a feverish rally ran off again more than Vt-.Twenty Vt-.Twenty shares of Northern Pacific stock were sold at auction at the real estate salesrooms today. The price paid was per share. A number of Wall street houses were represented among1 the bidders. On the curb there had been bids and offers, 120 having been bid. while the stock was offered at 125. At the auction auc-tion the first bid was 120. and the stock went un by half-points, to 125, then by points to 140, then rota by half-points again until it was knocked down at I4.r'tt. - ' Various stocks were taken in hand during the day and rushed. to a higher level, but profit-taking in Union Pacific Pa-cific was persistently kept up. 'The market showed signs of weariness during dur-ing the afternoon, and advances were largely reduced. Northern Securities on tha curb dropped back to about 9?. Sales were reported- on the curb of 400 i shares of Northern Pacific, when re-i re-i leased from the Northern Securities holding, at 120 and 100 shares in the regular way at 128. Late in the "day Northern Pacific, when released, sol4 down from 130 to 126 on the transfer of about 600 shares. |