The San Francisco call., 1905-04-15
New york Stock Market.

NEW YORK April IA revival OF the
Northern Securities settlement excitement
change which spread pretty generally through
out the list. but the conspicuous fact about the
DAYS opera tions was their enormous .cOnges-
lion in the few stocks Immediately affected by
the current rumors, especially Union Pacific.
Northern Securities itself. The last named
stock bounded up 70 the neighoorhooo OF $50,
current among street speculative operators for
some time but without obtaining general
Credenoe. The rumors TO account Tor the ad-
vance were many and various and for the
most part exceedingly vague. That which was
most definitely formulated alleged an intention
to double the present volume OF Great North
ern preferred stock for purposes which were
very diznly indicated in the story circulated
The capitalization OF enormous values discov-
cred IN iron ore lands in the company's pos
session was limited at, Great Northern pre-
erred closing 3l5a3S0 with no sales. the laet
his development would greatly expand the
-Ealue Of the Northern Securities Company
about 70 be distributed under the order OF dis
solution OF the Supreme Court As q large
proportion OF this distribution VIII fall 70 the
Union Facinc treasury, that stock was nelo
10 be entitled 70 corresponding advance, out
with the excitement started in the market this
explanaIioa was deemed Inadequate and sur
mise tell back upon the supposed uses 10 Wnlch
the Union Pacific preferred stock is 10 be put.
This line OF conjecture led the recovery in
various STOCKS polnteo 70 as desired oo1ect
of acquisition by Union Pacific, but which
have been dropped out OF consideration for
time with the growth OF skepttcism over the
stories current The stories are as entirely
without official authority or admission to-day
st any time. The palpable fact, however,
was that almost unlimited amounts OF the
stocks most nearly concerned passed constantly
through the market all day, and the absOrptive
power for them seemed Unsuitable. The volume
OF transs ctions and the movement Of prices in
the general railroad list moderate and the
extent Of the price movement was found
careful scrutiny. not TO be very wide but in
the industrial department there was effective
supplement 70 the striking movements in the
transcontinentel group. In this department
So the most prominent high grade industrtals.
especially United States Steel preferred were
inclined 10 move narrowly. OF indu6tr1als OF
minor class, however there is a long list which
made advances during the day OF all the way
from one 10 three four points. The brilliant
conditions shown 70 exist in the iron and steel
trade by the statistics OF production and con-
sumption have served 70 give great authority
10 The incoming reports Of highly prosperous
conditions IN al departments OF trade. The
favor shown 70 the industrial stocks increases
accordingly. II is found easy. 10 effect move
stocks. and II is not unusual for the rise to be
heraldeo by some such announcement as that
arrangements have been made for q sharp
upward movement IN this stock that etocl1
The movement is pretty sure 70 follow. Oper-
sflons Of this class. however. DO tend TO
fortlfy confidence in the market The cur
rency movement for the week gave promise OF
q good cash gain by the banks, and offered
no obstacle 70 the maintenance Of the specula-
tion. The irregular closing left prices not far
below the best OF the day.
Bonds were irregular. Total sales. par value,
United States bonds were all unchanged on
call.
New York Stock List
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