The Birmingham age-herald., 1904-03-13
STOCK MARKET IS STILL DEADLOCKED Majority of Traders Await Northern Securities Decision WALL STREET IS NERVO0S Strongest Kind of Tip Was Sent Out That Supreme Court Was to Act
 Last Monday, But 1t
 Failed.
BY w. G. NICHOLAS.

New York, March F, l9O4-The stock market deadlock continues. A majority of the traders on the exchange and in the street seem to be determined to await a decision in the northern securities case before resuming active operation or tak- ing sides. The weekly recurring disap- pointments over the non-action of the su- preme court in the case have wrough the street into a state of nervous excitement.
 The street had the strongest kind of tip that the supreme court was to act last Monday. Not only that, but state ments were made with great positiveness that the decision would be adverse and that 1t would uphold the findings of the lower court in every essential point with @ single exception and that relating to a minor detail involving matter of in- terest only to the state of Minnesota. It is not improbable that the decision was withheld by the Supreme court on account of the widespread circulation of advance information as to the purpose of the document
 It would not be the first time this has been done. In one conspicuous instance, the Laciede Gas company's case of St. Louis, decision was kept back for year and when handed down 1t was directly contrary to the original advanced tip During the interval the court seems to have reversed itself. On other occasions where interests have taken the trouble to acquire advance knowledge of a decision and let the information be generally known decisions have been hung up for months.
 The Supreme court is exceedingly touchy on the mater of leaks" Betrayal of it's secrets is, in the minds of the aug ust justices, an unpardonable onense Not only that but it would constitute con tempt of court, and any person or persons thus engaged make themselves liable to severe punishment. There could be no appeal from the deerees of the Supreme court in a matter of this kind, a fact well known to those who obtain and sell tips as to what the court is going to do. Thus far they have escaped discipline. but one of these days an awful example will be made which will discourage enterprises in that field
 The statement has been made that there is no instance on record of an anthentica- ted Teak by which the public gained advance information of Supreme court de- cisions. This is a mistake. The full text of the famous Lake Front case of Chicago was printed in the Chicago Tribune some time before it was handed down. This case settled for all time the right of the state of Illinois, the city of Chicago and the Illinois Central railroad to land and harbor rights of very great value, The advance publication of the decision created tremendous excitement and was great scandle Time and again the tips which have been hawked about New York and Washington have proved re- markably accurate Naturally more or less guess work in induged in by the tip sters, but some of them appear to be strangly inspired along correct lines.
 There is one thing, however, the tlpsters can never be sure about and that Is the date upon which decisions are 10 be rem dered. The practices of the Justices IS 10 meet Saturday afternoon and decide what decisions will be announced the following Monday Then at II 30 A. M. on Monday another consultation Is held, and 1t very often happens that on motion or suggest ion of one or more of the justices decls- ion scheduled for reading is pulled down for some cause It may be that Jusuce is not satisfied with the exact phraseology employed In some sentence in It's para graph or he may want to give the de- cision another perusal in it's entirety. Any one of a thousand reasons or no reason al all suffices for this action. Of that there can be no advance warning, and conse- ouently while the guessers may have the tenor of the decisions right there will be a disappointment over the unforeseen de- law Some such accident may have oc- o,,rred in inc Northern Securities case. Tt may he rendered next Monday or the Monday following, or it may be hung up for a year. The latter contingency, how ever, is very improbable,