The Montgomery advertiser., 1905-04-20
WALL STREET REVIEW
ANOTHER FLUTTER AMONG sPECU-
 I.ATORa IN STOCKS.
Renewed slump on Curb of Northern se-
 curities Had Visible Effect-Senti- ment Was on Tecnnicalities.

New York, April 19.--speculative senti- nent turned again today on technical mar ditions of values and the news bearing on them
 lators in stocks, caused by the renewed slump of Northern Securities on the curn. That stock did not touch yesterdays HOW price, however, and its downwara .s9 couIs9 was effectually checked and a substantial recovery effected with corresponding e1- feet the market for stocks within the Stock Exchange The implca,ions ,Hs,,, orxWh ,a,th the market position of the large speculation committed to the high prices for the stocks; but the causes for their advances have been great deal of doubt and apprehension or the reliability of these rumors is induced py the feverish downward piunges In the stocks.
 maintained regarding the great projects al, legged to be in contemplation in the raiiroaI world lends itself to sudden fears as well as buoyant hopes, and to sudden reversal from extreme confidence to full re1ee ot all flying reports There was seen Tn the tendency of the current stock market ru- mors to face about from faith in the whole, sale harmony in the competing rairoaa interests to fears of a renewed outbreak Of all the old hostility of the period before the Northern Securities formation. For instance. doubts s, were urseS n So,S or Nor,bern Pacific or Great Northern stocks which come to 1t as the proceeds of the Northern Securities dissolution. The opinion or tno -oupTehio Court. pronounced incidentally in the North ern Securities decision. that the turning over of control of Northern Pacific to Union Pacific would contravene the sner- man law was cited as authority for this view. Alleged intention to preclude minor. ity representation from the directorates ol the two railroads were also discussed. With these suggestions of spirit of hostility rather than harmony prevailing In the railroad world. the s so.callsd pysrery snt ly from the liQuidation but rallied effectu- ally on the late renewal of harmony re- ports.
 There were no dealings in Northern Pa- eific, but nominal quotations were made TOT and asked prices thus made showed the price range well sustained near the recent high level; Great Northern preferred sold sold some apprehension that the stocks were likely to slump when the redistribution re- plenished the supply in the market: It was commission houses which were the largest sellers during the heavy decline yesterday were busy buying to recover their holdings. The persistence of this demand N7lped to restore confidence and deve A the strength of the latter part of tl' day.
 The aggressive rise in the. Southern group aroused some new contectures Of important financing projects. The promise of record April tonnage of anthracite helped the coalers Amalgamated Copper moved up in connection with speculative rumors re- garTiing tomorrow's dividend meeting. Re- ports of the receipt of heavy orders strengthened American Locomotive United States Steel preferred responded to the recovery to confidence in conditions In that trade. Reports that the stock tax bill was not to become O law of the State was made effective upon sentiment. The closing was
 Bonds were irregular. Total sales. par value, $3s410.00o., United States bonds were all unchanged on call
 .