The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1904-03-16
giuamcfaL.
yesterdays STOCK MARKET.

Substantial Advances Ina Ertces EhFOnsn-
ont tho List.
New York, March 15.-There was a
moderate and well-sustained demand
for stocks to-day which resulted in a
substantial advance in prices through
out the list. Business was not larger
| than yesterday, while the delivery of
the Northern Securities opinion was in
progress; but to-day's market was en-
tirely lacking in the feverish tone and
the cratic fluctuations which charac-
| terized yesterdays market. The buy
/ ing was somewhat intermittent, but
there we're no intervening backsets. 1t
was the general conviction that this
buying came from a short interest
which has counted upon a decline fol-
7 lowing the Northern Securities decision
to buy stocks at a profit. There was no
evidence to-day of any pressure to sell
on account of the decision, and the
bears upon perceiving this, proceeded
to cover their short contracts. They
found only moderate offerings of stocks
and were obliged to bid prices up con-
sderably before they were able to sup
ply their needs. The Northern Secur-
titles case was still the point on which
the whole market hinged.
1t is evident that aside from the en-
barrassment incident to redistribu-
ton of securities, the financial COM
munty has materially modified its feel
ing OF value Of the Northern Securities
device since the period when its mere
mention was sufficient to conjure up
bouyant activity in the stock market.
Another important influence upon the
sentiment of operators was the assur-
ance conveyed in Attorney General
Knox's statement that the government
does not intend to run amuck" This
was accepted as an intimation that the
powers now undoubtedly secured to the
executive and believed to be applicable
to many other important corporations
Twill not be pushed for the present at
least. Stocks of corporations which
have been pointed to as vulnerable un-
der proceedings based on the case just
determined were conspicuous in to-
days upward movement.
Northern Securities itself and secur-
tiles Of the companies Immediately az
fected were strong and gave a sympa-
thetic tone to the rest of the market.
An improved tone in foreign markets
helped the advance, until the London
market reacted on the adverse vote to
the government in parliament. There
was some disposition to assume a vote
against strike by the soft coal min.
ers, who were voting on referendum
to-day. The statement Of the full ex-
ports for February did not sufficiently
offset the unfavorable showing Of
agricultural exports for the period to
give much satisfaction. The payment
by the sub-treasury of $1,75S,0oO on ac-
count of Japanese gold deposited at
San Francisco was met by the report
that further shipments We're likely to
be made to South America. A rush of
belated shorts to cover who had wait
| ed in hopes Of a reaction, made the
closing strong and active at about the
top prices of the day. The Pacifics,
Fries and the Pennsylvania group show
gains Of two points or upwards.
The bond market was firm and more
active in sympathy with the strength
of Burlington joint as and U. S. Steel
second IS. Total sales. par value.
| s1,77O.O 900.
/ Y. $. Bonds were unchanged Oh call.
iOssnx Prices,
Following are the closing prices reported
by Prince & Whitley, Bankers and Brokers,
% Broadway. New York, and Is Center
street, New Haven. Conn: