The Birmingham age-herald., 1904-04-19
NJ NEW INTEREST IN STOCK MARKET Activity Seems to be on Oimin-
 iShing Scale WAITING FOR DECISION
 -.
Announcement From St. Paul That Decision Would Not Be Made Yes terday Caused Abrupt
 PAIt In Trading.

New York, April 1S.-No new interest was awakened in the stock market to- day and there was the same listless drift of prices and languid operations as pre- walled most of the time last week. The activity of the market Is on diminish ing scale from day to day. Such slight activity as there was today, was ab- ruptly halted by the announcement from St. Paul that there would be no decision today on the petition regarding the man. ner of distributing the Northern Securi- ties assets This fosters the impress sion that the market Is waiting on this decision.
 But the prevailing belief In Wall street is against the Likelihood of the petition being entertained while the conviction is general that the contest will be pur- sued by other legal steps on the present Union Pacific interests. This makes 1t doubtful whether the expected decision at St. Paul is to release the market from the repression upon 1t. The oppressive influences of the contest involved in this suit is undoubted and the influence was increased by the point drop In Great Northern preferred today
 Much discussion is given to the contin- ued output of railroad notes in the money market for short periods, and at high interest rates notwithstanding ex- treme. ease of money for loans in other forms. Additional contrast to this condl- ton was afforded by the news from London and Paris of the quick absorp- tion of new capital issues in those mar kets, which is resulting from the accu- mulating of capital at those centers.
 The investment demand in the London market has encouraged the decision to offer the s25, 5,000000 Transvaal guaranteed loan, and in Paris the large over subscrip- tion for the $34, ,OO00 900 city of Paris loan has been followed by announcements of other government issues. It is believed until the issuance of railroad short-time notes in this market has been completed, the investment demand for bonds and stocks will halt Present speculation halts accordingly.
 The weekly discussion of traffic by rail- road officials did not indicate any actual revival These officials offer as explana- tion of their professed "satisfacton" with a smaller volume of traffic than last year that they had expected the shrinkage would be much worse. Last weeks as sumption that the fixing of grain rates from Chicago had settled the dispute over the differential on ex-ake grain from Buf- ralc was found to be due to misconstruc- ton of the case and some unfavorable CT feet was thus revived. A light specula- ton in Consolidated Gas on the disputed chances of pepding legislation. was an !, nn- U. important feature of the market Mis- souri Pacific made no response to goou statement of net earnings for February Very few stocks moved over an extreme range is much as point. Closing or accounts by traders reduced the net changes to still narrower proportions. The closing was fairly steady.
 Bonds were dull and irregular Total sales. par value, S,390,OOO
 Tinted States bonds were unchanged on the last call