The Montgomery advertiser., 1904-01-21
STREET. REVIEW
FAIR DEGREE or ACTIVITY IS
 MAINTAINED.
Strength is Fittul and spotty, How r ever, and the Market is View
 ed With Some Degree
 of Suspicion.

NEW YORK, Jan. eo.--There was fair degree of activity maintained in todays stock market and some show of strength, but the strength was htfui and spotty and the market was viewed with some degree Of suspicion by a large element of the traders on the noor. The upward tendency of prices met witn some posttye obstacles and the character Of some of the devices used to stimulate an upward movement aroused scepticism and had sn un- favorable 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 concisely expressed in the decline of war risks for marine insurance there was free London selling in New York. which proved troublesome to absorb. This seems to have been due to a renewal of . war scare in London after our market opened. It affected wheat as well. but did not interrupt the pro- cess of new high record making in the cotton market. After the decisive reaction from this cause prices picked up again when it became known that Northern Securities had been lift cd over 3 points tn the curb market on the cir- culation of a confidential "up'' that the de- cision of the Supreme Court tn tho Northern Securities case had already been made. that it was not altogether unfavorabls to tho cor poration that 1t would be handed down next Monday and that there had been . 'leak" by which this important information had become known to the tipster. Northern Securities lost half its gain the total transactions In the stock in the curb market did not exceed few thou sand shares. but the incident had considerabie influence in the Stock Exchanse.- Union Pa cific, which would be most directly affected of any of the stocks new prominently traded in war held back by the persistent realizing that kept a weight as well upon a number of other stocks recently active, but the influence seemed to pass over to It's subsidiary stock, Southern Pacific. There was no other explanation of the active speculation in that stock which carried it lh over last night. A previous buy ing movemnt had carried Missouri Pacific a point over last night The only other stock of first importance which gained 8 point was St. Paul. In contrast with this was the per- sistent selling pressure on Rock Island and Amalgamated Copper, which carried them point under last night. Pennsylvania, Union Pacific, Atchison and United States Steel pre- ferred while not forced far from last night were withheld from any advance by the same persistent selling. The local fractions were re- actionary when 1t became known that yester- days advances were based on the trip of in- spectioh the new subway line of sn in- vited party of influential capitalists United States Realty preferred was marked up on very large dealings points without explana- tion. The late movemnt in Southern Pacific had hardening effect on the market. but the closing was irregular and below the best. The Northern Securities rumor affected the Bur lington Joint Fours 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 spec ulative issues showed the effect of profit talk ing but the tone generally was firm. Total sales tpar value), S4.57o.oo0 United States bonds were unchanged on call.
 Treasury Statement.
 WASHINGTON. Jan. 2o.-Trsasury balances, S224 72e; gold. Ssa.54e, 3s4.
 New York Stock List.