The Birmingham age-herald., 1905-01-15
UNION PACIFIC HAS
 SUDDEN REVIVAL Northern Securities Go to New
 High Record BANK STATEMENT STRONG Large Inflow of Currency From the Interior Marks Big Growth In Cash Holdlngs-Has Been
 a Outlet Week.
BANK STATEMENT STRONG

New York, January 14-The sudden re- vival of animation in Union Pacific which stirred the late stock market yesterday was continued today throughout the short session, lifting the price of the stock to 1.1sA Northern securities on the curb went to a new high record in company. There was a flood of rumors of supposed plans for readjustment of the railroad situation, growing out of the disintergra- tion of the Northern Securities company, but the only actual news bearing on the movement was the tip circulated from up town speculative quarters that Union Pa ciSc was to touch 1.20 today. There was large buying of United States Steel preferred and Amalgamated copper also. Everywhere in the list the strength was moderate, and there was some pres sure to realize on the advance. This was especially manifest after the appearance of the very strong bank statement. Not orly was the large inflow of currency from the interior for this week reflected in the statement but also that of last week, which failed to show in last weeks statement owing to a local shifting of cash holdings As consequence this weeks statement shows growth of over $15,000.0O0 in cash holdings. There was at the same time a contraction of s, ,405,9O0 in the loan discount. The net re- suit was to bring up the surplus over legal reserve requirements by $12,s51,O ,O25. This accumulation, coming on the ex- tremely easy money market, Is likely to enhance the outgo gold, to which Is to be added remittances to Cuba, for the fall installment on subscriptions to the Cuban loan, which may call for upwards of $10,0000O0. Excited buying of Union Pa- oific lifted It's related stocks to the top level toward the end of the session, but realizing at other points made the clos ing irregular. and very active. Total sales of bonds today, par value. &915,O0O.
 Stocks have backed and filled this week on a small volume of dealings, which has comprised little more than the tentative operations of professional traders to find the course of the market. There has been no relative power in the market, owing to the profound neglect by professional interests and the outside public. The sensitiveness of public sentiment to the settlement of the legislative programme at Washington continues with tolerable clearness. Thus prices advanced with some decision on Monday morning, when 1t was generally reported that the Satur- day conference of political leaders had resulted in an agreement that 1t would not be practicable to undertake any im- portant new measures at the present session of Congress. On the other hand, the most distinctive decline of the week occurred on Thursday, when the traders were confronted with the explicit report that the President had determined to press for prompt action on measure for the fixing of railroad rates by federal authority.
 The financial district Is united in the apprehension that the agitation and dis cussion of the proposed legislation, which now seems assured for a considerable time to come, Is likely to have repres-