The Birmingham age-herald., 1904-01-21
STRENGTH SHOWN IN STOCK MARKET Fair Degree of Activity on the
 Floor. SOMEFREE LONDON SELLING The Market Was Viewed With Some Suspicion By Larger Element of Traders---The Upward Tend
 ency Meets Obstacles.
SOMEFREt LONDON SELLING

New York January 2O.-There was a fair degree of activity maintained in to- days stock market, and some show of strength, but the strength was fitful and spotty, and the market was viewed with some fsgree of suspicion by large ele- .ssvns of the traders on the floor. The up. ward tendency of prices met with some positive obstacles, and the character of some of the devices used to stimulate an upward movement aroused scepticism and had an unfavorable effect on sentiment, contrary to their purpose
 In spite of the higher range of prices sent over from London this morning, and much more cheerful view of the chances of peace from those ooncisely expressed in the decline of war risks for marine in- suranoe, there was free London selling in New York, which proved troublesome to absorb This seems to have been due to a renewal of a war scare in London after our market opened. It affected wheat as well, but did not interrupt the process of new high record-making in the cot ton market.
 After the decisive reaction from this cause. prices picked up again, when 1t became known that Northern securities had been lifted over points in the curb market on the circulation of a confidential tip that the decision of the supreme court In the Northern securities case had already been made that it was not al- together unfavorable to the corporation that it would be headed down next Mon day, and that there had been ''leak by which this important information had become known to the tipster.
 Northern securities lost half it's gain, the total transactions in the stock in the curb market not exceeding a few thou sand shares. Union Pacific which would be most directly affected of any of the stocks now prominently dealt in, was held back by the persistent realizing that kept a weight as well upon number of other stocks recently active, but the in- fluence seemed to pass over to its subsi- diary stock, Southern Pacific
 There was no other explanation of the active speculation in that stock which carried it 1k over last night. A previous buying movement had carried Missouri Pacific a point over last night. The only other stock of first importance which gained point was St. Paul. In contrast with this was the persistent selling pres sure on Rock Island and Amalgamated Copper. which carried them under point of last night Pennsylvania, Atchison and Steel preferred, while not forced far be- low last night, were withheld from any advance by the same persistent selling.
 The Fries were also sold on the sup position that there would be no buying to secure control following the dissolu- ton of the voting trust, as was at one time believed. The local fractions were reactionary when 1t became known that yesterdays advances were based on the trip of inspection over the new subway line of an invited party of influential cap- italists. United States Realty preferred was marked up on very large dealings 4 points without explanation. The late movement in Southern Pacific had hard ening effect on the market, but the clos ing was irregular and below the best.
 The Northern securities rumor affected the Burlington joint As and the Oregon Short Line participating As. The United States Steel second 5s and the Rock Island bonds largely overshadowed the whole bond market. One or two of the speculative issues showed the effect of profit-taking. but the tone generally was firm. Total sales, par value, s4,570.O 900. Uni ted States bonds were unchanged on call