The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-05-25
STOCKS LIFTED
ALL ALONG LINE
Trading offered Number of
Remarkable Features
IRANSACTIONSVERY SMALL
Al Different Stages of the Advance the
Market Fell Into Practical Stag
nation, But the Ground Gov
cred Was Insignificant.
TRANSACTIONSVERYS SMALL

New York, May A-There was substan-
tial strength in todays stock market
as was evidenced by the length of the
list of stocks which were lifted between
one and two points during the days trad
ing and few exceptional instances more
than that The trading offered number
of remarkable features. One was the small
volume of the demand upon which the
very notable gains were effected The
days transactions fell below those of
either yesterday or the day before. If the
buying was for the account of uncovered
shorts, 1t was decidedly free from any
signs of urgency or such trepidation as
the bear trades short of stocks easily
manifest.
There was not OF any time vigorous
show of resistance to the advance In spite
OF its desultory and hesitating character
at different stages. There was rather
freer selling during the first hours owing
to the wide advances at which prices OPEN
ed These were well absorbed and the
slow upward movement which followed
was allowed to pursue its course with
out any active opposition from any quar-
ter. Prices have taken so many false
become extremely suspicious of these sud
den advances over night, which have
melted away during the day in more than
once instance lately. The same, suspicious
attitude was maintained by the profess
sional element today. At different stages
of the advance the market sank into
practical stagnation but the ground COW
cred on such occasions was insignificant.
There was no definite news to account for
the movement and in fact some of the
days developments might be regarded as
additions to factors recently regarded as
unfavorable. The grain markets still had
their crop damage reports. The Chicago
strike situation seemed aggravated and
in danger of spreading The Secretary OF
War outlines a fresh administration view
for the regulation of corporations But
the consideration of these matters had
apparently lost force. The Northwestern
problem on the other hand showed a per-
ennial freshness. The revival of rumors
that an agreement had been reached
amongst the railroad powers in that field
to refrain from hostilities was the real
effective force back of the days mar
ket The special prominence of Union
Pacific, St Paul. the Northern Pacific,
Northwestern and Great Northern pre-
ferred were thus accounted for. The SELL
ing late yesterday was partly based upon
rumors which got into circulation with
the trust company failures announced
previous, was likely to have Interior con-
sequences Fears on this score were large
" dissipated today. The extreme ease. OF
the money market on the eve OF to-
rnorrow's s5o.OO0.0O0 requirement for the
final installment of the Japanese loan
subscription was fostering influence on
the strength of stocks. The reception of
the Iron-Age's weekly trade review was
in marked contrast to the depression
icoused a, week ago. although that author
3tv's view on the trade has not altered In
anv material respect. prices are weak
err" says the review. "and buyers are
holding off, convinced that a somewhat
lower level in pig iron will be reached
The United States steel stocks how
ever moved upward with the rest OF the
market and the rush amongst belated