The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-20
PEOPLES GAS HAS
TWO POINT ADVANCE
Canadian Pacific Again Starts
Upward-Ge General Market
Is Spotty

NEW YORK. April 19.-SnecuIati,.o
aoIIiiIIlehI on the stock exchange Tnrned
Ian tiGnl toqay on technical market condf-
uonS rather than on intrinsic conSi 4i,(,I-
OF values and the news bearing on tb ILLS
ileTe was another flutter amongst sne lI'
SII, IN stocks caused by the renewed
HTu1uIilp IN Northern Securities ON tba c,,,h
Ihat stock did not touch vesterd5V-.c u IL y.
pIice' however and its downward conrse
was effectually checked and y su6sto,+;,I
80 ecoNerE erected. with corresponding ef-
lect on the market for stocks within tbo
STOCK exchange. The implications drawn
rom the movements had to do largely
Win the market position of the iaree
speculation committed to the hiob 49,,
TOT the stocks; but the causeS fOr tl,air
duVahceS nave been purely within the
realm OF rumor, and a great deal of dOuht
f fbesa d ILrl OF the reliability of
downward plunSes in the stocks
Lack OF Confidence
The impenetrable mystery which has
peeh maintained regarding the great prof
ects alleged to be in Condemnation i,
me me railroad world lends itself to sudden
ltdfS as well as buOYant homes ANA to q
sudden reversal from extreme confda1,ca
10 1ul rejection Of all flying reports. This
was seen in the tendency of the current
Stoch market rumors to face about from
IdIth III the wholesale harmony i'm the
competition railroad interests to fears of
a renewed outbreak of all the old hostile
period before the Northern Securities for
4iitRtAt4l IOl instance. doubts urged
OF the legal right Of Union Pacific to hold
Northern Pacific or Great Northern
stocks which would come to it as the
proceeds OF the Northern Securities dis
solution. The opinion of the supreme
court, pronounced incidentally i'm the
Northern Securities decision that the
turning over of control of Northern Pa
enc to Union Pacific would contravene
the Sherman law was cited as an an
thority for this view
Alleged intention to preclude minority
representation from the directories Of
the two railroads We're also discussed.
win these suggestions of a spirit of
hostility rather than harmony prevailing
IN the railroad world the so-called "mys-
terry stocks in the market suffered most
acutely from the liquidation, but rallied
ehectually on the late renewal of har-
mony reports. There was no dealings in
Morthern Pacific but nominal quotations
We're made for the stocks when re-
leased, and the bid and asked prices
thus made showed the price range we'll
sustained near the recent high lelei.
Great Northern preferred sold down 1917
and rallied ). This relieved some appre-
hension that the stocks were likely to
slump when the redistribution replenished
the supply in the market
Stronger Closing
1t was evident also that many of the
brokers and commission houses which
We're the largest sellers during the heavy
decline yesterday were busy buyers to
recover bear holdings The persistence of
thlS demand helped to restore confidence
and DEVELOPED the strength of the latter
part OF the day. The aggressive rise in
the southern group aroused some new
conJectures of important financial prof.
ects. The promise of a record April ton
mage of anthracite helped the coalers.
Amalgamated Copper moved up. in con-
nection with speculative Tumors regarding
tomorrow dividend meeting. Reports Of
the receipts of very heavy orders strenth-
ened American Locomotive. United States
Steel preferred responded on the recovery
to confidence in conditions i'm that trade.
Reports that the stock tax bill was not
to become law of the state were made
effective upon sentiment Traders who
fought the rally by selling stock short
were forced to cover at the last and made
the closing the strongest Of the day.
Bonds were irregular. Total sales, par
value, $3,410,0O0. United States were all
unchanged on cal.
The board of governors Of the New York
stock exchange today decided to close
the exchange on Good Friday, April u,
and on Saturday, April %.