Los Angeles herald., 1905-04-11
BY Associated Press.

By Associated Press.
NEW YORK, April 10.-A handful
of stocks were aggressively shown in
today's market but their sympathetic
influence on the rest OF the llst was
moderate.
The spotty tone of the upward move
ment served to overcome to a large eX-
tent the positive weakness which
showed during the first hour of trad
ing, but the amount of interest in the
market palpably declined from that
manifested last week.
The movement became sluggish and
narrow and the volume of business fell
off considerably and weakness was
renewed in the late market. The eX-
planation of the most conservative at
titude of the speculation was not very
clear. The sudden and easy reaction
of Saturday, however, caused some
misgivings over the speculative sit
uation and these were not entirely
overcome by the inviting advance in
the few strong active stocks.
The Northern Securities case again
assumed a dominant position in the
days market, the impelling cause be-
ing the jump in that stock itself on
the curb to new high record of
$1.69%.
AT the same time Great Northern
preferred on the exchange shot up to
new record price at 1928. These
movements stimulated an active de-
mand for Union Pacific and again les
sened the tide of rumors regarding
that property and the far-reaching
projects of the powers in control of it,
to be further led by the $100,000,0 900
preferred stock increase.
The immediate cause of the move
ment in Northern Securities itself was
the circulation of a rumor that lib
eral cash dividend would be dstrib-
uted in connection with the redistrib-
ution of assets of the corporation. This
rumor was denied.
The days favorite rumor for the
supposed formation of the Union Pa
cific project was the purchase of a
controlling interest in Atchison and
that stock was benefited accordingly.
st. Paul moved as usual in sympathy.
New York Central and the Northwes-
tern stocks on the contrary, were
rather heavy.
There was a striking movement also
in Amagamated Copper on vague in
timations of a proposed increase in the
dividend rate. This proved less effec-
tive on sentiment toward the general
list than did last weeks wide move
ment in United States Steel preferred.
That stock was under restraint today
with free feeding of the demand when
ever the price approached the closing
level OF ldSt week.
Reading made some special showing
of strength in company with Delaware
& Hudson, but the movement did not
extend further in the group of coalers.
Conjectures were busy during the day
over the condition to be shown by the
government report of the winter wheat
crop. The report was not published
during the hours of trading but eXpec-
tation was very confident of it's favor
able character, owing to the high condl-
tion reported recently by authorities
of the different states.
This was an influence in keeping
down the price of wheat, as it was of
holding up the price of the grain-car-
probable however, that the desire to
see the official figures hal it's inhu-
ence in prompting the waiting attitude
of the trading and caused some selling
of stocks here for foreign account on,
any advance.
Money continued rather firm and
loaned on call again at per cent.
The days rather laborious and uneven
strength was unconvincing to senti-
ment and gave place to an abrupt re-
action in the last half hour. The un-
loading of stocks was supposed to be
due in part to the unsettlement in the
Chicago wheat market.
The closing was irregular.
Bonds were about steady. Total
sales (par value), $3700,000.
United States bonds were all un-
changed on call.