Omaha daily bee., 1903-04-21
NEW YORK STOCKS AND BONDS.
Market waits OF Courts Securities
DecisIOn. Causing Heavy BuyInE.

NEW YORK, April 2O.-There was much
hesitation and irregularity in today's stock
the early part of the session tn the dread
that the United States circuit court at st.
Paul would refuse the petition Of the
Northern Securities company to modify the
decree against the company, pending the
appeal, so as to allow the payment of divi-
dends by the Northern Pacific and Great
The general expectation in Wall street was
that the petition would be refused, and the
unexpected decision in favor Of the modifi-
cation caused a precipitate buying move
ment, in which the short sellers of the
forenoon were conspicuous. This advance
met opposition before II had proceeded far
and prices were carried again,
after which the market hung practically
stssnant for a time; The professionals
level and the market closed steady, with a
showing of net gains reaching a point or
over for a number of the conspicuous lead
ers. AS the Northern Securities company
is the principal stakeholder of both the
Great Northern and the Northern Pacific.
and as the chief function of the Securities
company as a holding company is to re-
ceive dividends from the constituent COM
panies and distribute them to It's own stock
holders, today's modification of the decree
of the court leaves the situation of the
company practically unaffected until the
supreme court shall have decided finally
the questions at issue: In. the fear that
the petition would be denied, Northern Sc
curities on the curb sold down TO 94B this
morning, which is only a fraction above
the lowest prices in the slump of last Mon
day. on the rebound the stock touched
99Z. Its reaction OF over a point was a
dominant influence on the reaction IN the
Stock exchange. 1t recovered and closed
at %, with continuing effect on the general
The early stock market iuctuated uncer-
tainly between the contending influences
of the strength in the Gould group and the
weakness of Reading. The seeming agree
ment of both sides to the labor
controversy that a settlement was assured,
and the published rumors that a compro-
mise had been effected of the differences
between the Pennsylvania and Wabash in
terests, were jointly responsible for the
strength in the Gould group; IN which Man
The depressing factor against Reading was
the Investigation by the Interstate Com
merce commission, to open tomorrow, OF the
coal combination, which Is expected TO
furnish material which may be available
for use in proceedings under the antitrust
law. The lockout reported at the Reading
collieries, owing to a dispute over the Sat
urday hours for work, helped to. depress
| Reading and some of the other %coalers, and
the Pennsylvania group lost ground In sym
pathy. In the late recovery Union Pacific,
st. Paul, New York Central, Baltimore &
Ohio and the Gould group were conspicu-
Gus. The growing ease OF money was an
encouraging factor FOR the bulls. Possibly
| advance knowledge of additional trust com
privileges may have been a factor in the
hesitating tone of the market, although
no announcement was made on the subject
until after the close of the market.
The bond market was quiet, but quite
steady. Last weeks dealings In bonds
| reached an aggregate In the par value OF
SIS, 445. 500. which is a decrease, of no less
than g per cent &c Soim asf year w Tot s1e ss GoE'
mar value. s., ass. 900. United States IS, cou.
non. and the old As declined q. The new
Ks advanced 4 on the last call.
The following are the quotations on thS
| NTavr Work. Stock EXCHANGES.