The Birmingham age-herald., 1904-11-22
PRICES OF STOCKS
 WELL MAINTAINED Aggregate Sales However
 Showed Falling OF MARKET QUIET AND STRONG Some Limitations That Expectations of an immediate Decision of
 Northern Securities Suit
 Might Disappoint.
MARKET QUIET AND STRONG

New York, November 2l.-Aggregate sales of stocks at the stock exchange fell off today. but notwithstanding the de- cline in activity marking shrinkage in the active demand for stock, prices were well maintained.
 The market is best defined as quiet and strong. The causes of the falling off in business were not very clear. The fact of a broken week ahead on account of the Thanksgiving holiday may have been a motive. There were some inti- nations that the expectation of an imme- diate decision of the Northern Securities suit might be disappointed. Wall street clings to a conviction that a decision of that suit Is to be the signal for some important announcement affecting the transcontinental railroad situation, and the prospect of it's delay discouraged some operations. Union Pacific was mo- tieably strong. however, as were St. Paul and the bonds in any way related to the Northern Securities adjustment.
 A consideration of the diminishing sup plies In the money market may have ad- monished some of the speculative element aginst excess of commitments, but such action does not explain the strength of lhe duller trading The engagement of gold bars for export to Paris tomorrow was larger in amount by several hundred thousand dollars, and all available gold bars was in urgent demand at the assay office. Foreign exchange made further advance, thus bridging the interval which permits the shipment of $500,0OO in coin engaged for Germany. Call money loaned at per cent, but did not hold at that un- ii the closing Chicago exchange rose to a0e premium against 10c last week, mark ing the continuance of the flow of cur rency to New York, while the movement of the new corn crop was scarcely com meneed explaining the light interior needs for currency. Railroad officials in u1ffer- ent sections differ somewhat in their views of the extent of the increase In the railroad movement, those of eastern lines showing especial enthusiasm on the pres ent volume of business. Lines west look more to the future when the corn crop shall begin to move in force. The indus trial department of the market continued relatively conspicuous, and there was an occasional movement in thak department on the part of the stocks long time dormant, previous quotations running back oyer a year in some of these. The more active industrials were strong
 The United States Steel stocks and the railroad equipment stocks reflected the good reports from trade circles. Anal gamated Copper was strong in common with all copper stocks, and metal stocks generally were benefited in sympathy. The large demand for copper is assumed to go largely into electrical improve ments and the electric stocks made nota- ble gains. A sale of $15,OOO000 of Pennsyl- vania company certificates and of $6000,- 600 Pere Marquette bonds illustrated the attraction of the improved market for securities to float new securities. The days small changes in leading stocks compares with the narrowing dimensions of the market, and the closing was ir- regular and below the best
 Bonds were firm Total sales, par value, $l0, ,SS0oOO. United States bonds were un- changed on call.