The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-21
STOCKSCONTINUE STRONG
DEMAND FOR STEEL SECOND FIvEs
FEATURE OF BOND MARKET.
Rumor that supreme Court VIII Not
Rule Entirely Unfavorabiy to
Northern Securities Company.

NEW YORK, Jan. 2O.-There was a fair de-
gree OF activity maintained In to-day's stock
market and show of strength. but the
strength was htful and spotty and the market
was viewed with degree of suspicion by
a large element traders the floor
The upward tendency OF prices met with some
positive obstacles and the character of some of
the devices used to stimulate an upward move
ment aroused scepticism and had unfavorable
effect sentiment In spite OF the higher range
Of prices sent over from London this morning,
and a much more cheerful view Of the chances
OF peace from those concsely expressed in the
decline OF war risks for marine insurance, there
free London selling in New York. which
proved troublesome absorb.
This seems 10 have been due 10 renewal OF
war scare in London after our market opened
IL affected wheat WELL but did not interrupt
the process of new high record making IN the
cotton market.
TIP ON NORTHERN SECURITIES.
After a decisive reaction from this cause,
prices picked up again when 1t became known
that Northern Securities had been lifted over
three points in the curb market on the circula-
ton of a confidential tip that the decision
of the Supreme Court in the Northern Securities
had already been made that II was not alto
gether unfavorable TO the corporation. and that
IL would be handed down next Monday.
Northern Securities lost half its gain later. and
the total transactions in the stock in the mar
curb market did not exceed few thousand
nuence in the Stock Exchange Union Pacific
which would be most directly affected OF any
OF the stocks prominently traded In. was
held back by the persistent realizing that kept
a weight well upon a number Of other stocks
recently active. But the influence seemed to
pass over to its subsidiary stock southern "a
chic. There other explanation OF the
active speculation in that stock which carried
1t 1l5 points over last night.
ST. PAUL ADVANCES.
A previous buying movement had carried Mis-
souri, Pacific a point over last night. The only
other stock of first Importance which
gained a point was ST. Paul. In contrast with
this was the persistent selling pressure Rock
them point under last night Pennsylvania,
Union Pacific, Atchison and United states Steel
preferred. while not forced far below last night,
were withheld from any advance by the same
persistent selling
The Fries were also sold on the superstition
that there would be no buying TO secure control
following the dissolution of the voting trust,
at time believed. The local tran
sactions were reactionary when II became known
that Yesterdays advances based on the
an invited party Of influential capitalists.
United States Realty preferred was marked
up four points on very large dealings.
The late movement in Southern Pacific had a
hardening effect on the market. but the closing
was i'm ocular and below the best.
The Northern Securities affected the
Burlington joint fours and the Oregon Short
Line participating tours The United States
Steel second hves and the Rock Island bonds
overshadowed the whole bond market. One or
| Of profit taking. but the generally was
States bonds unchanged on CALL
Sales and the range: