The daily morning journal and courier., 1905-04-20
EimasrrtaI.
 x KESIElsDAK,S .SIUCh MARK ET
Another Fiutter Caused by Renewed
 slump in Norther Securities.


 slump in Mortimer Securities. New York, April 19.-Speculative sen-
 timent on the stock exchange turned again to-day on technical market con-
 ditions rather than in intrinsic condi- tions of values and the news bearing on them. There was another fiutter caused by the renewed slump in Northern &c., curities on the curb. That stock did mot touch yesterdays low price however and it's downward course was effectual- ly checked and a substantial recovery effected, with corresponding effect on the market for stocks within the stock exchange. The mystery which has been maintained regarding the great pro- jects alleged to be in contemplation in the railroad world lends itself to sud- den fears as well as buoyant hopes and to sudden reversal from extremes sconfidence to full rejection of all flying reports. This was soon in the tendency ] of the current stock market rumors to face about from faith in the wholesale , harmony in the competing railroad in terest to fears of renewed outbreak ! of all the old hostility of the period be- ! fore the Northern Securities formation. s Pacific to hold Northern Pacific or Great Northern stock, which would leone to it as the proceeds of the North ern Securities dissolution. The opinion Y of the supreme court, pronounced inci- Edentally in the Northern Securities de- cision that the turning over of control { of Northern Pacific to Union Pacific would contravene the Sherman law, 4 was cited as authority for this view. Alleged intention to preclude minority representation from the directorates of Rthe two railroads were also discussed.
 with these suggestions of a spirit of I hostility rather than harmony prevail ling in the railroad world the so-called E"mystery stocks in the market suffer led most acutely from the liquidation, Nbut rallied effectually on the late re- Enewal of harmony reports. There were Tho dealings in Northern Pacific but hnominal quotations were made for the stocks sswhen released, and the bid land asked prices thus made showed kthe price range we'll sustained near the Erecent high level. Great Northern pfd. Esold down 19 1-2 and rallied 5. This re- slieved some apprehension that the lstoeks were likely to slump when the Ere-d distribution replenished the supply lin the market. It was evident also that many of the brokers and commission houses which were the largest sellers Iduring the heavy decline yesterday, Hwere busy buying to recover their hold Sings, The persistence of this demand lhelped to restore confidence and devel- Eoped the strength of the latter part of 1.-the day. The aggressive rise in the Isouthern group aroused some new con- Ajectures of important financing pro- fleets. Amalgamated Copper moved up lin connection with speculative rumors to-morrows dividend meet ling. U. s. Steel pfd. responded on the Erecovery to confidence in conditions in hthat trade Traders who fought the Arally by selling stock short were forced eto cover at the last and made the clos Hing the strongest of the day.
 4-Bonds were irregular. Total sales par value sSS,410,ooO. U. S. bonds were Tall unchanged on call.
 NEW FORK STOCK MARKET.