The San Francisco call., 1905-01-18
New York Stock Market.

:. NEW YORK. Jan. 1T.-There were features
:..of strength in to-days stock market. but they
were varied by soft spots here and there. On
the whole the market showed the effect of the
large distribution of speculative holdings which
was effected ON the opening bulge of the week
Yesterday There was decided shrinkage in
the* Volnme OF dealings along with the hesl-
aMsins. M aIa irreguIar tone whlch was oeVeopeu
Inc seeming elimination OF the rise in Union
Pacific was sentimental effect on the whole
list, which showed clearly the want of the
stimulating influence which the strength OF
ihs Stock has exercised for several days past
The serving OF formal notice Of the intention
Of the eontesting interests TO apply Tor d writ
of certlorari to review the opinion in favor of
the Northern Securities Company was under
=. stood to have the power of stay on any
: pending the final decision of the United States
ment to the rumors, which have been indus
= triously circulated. that compromise, a
. Prompt distribution of Northern Securities as
sets and the comprehensive readjustment of
railroad relations the whole trans -contfnen-
tai field. would be announced at an early date.
Union Pacific rose steady over last nights level
several times but 1t was constantly anected
by the feeling of the demand in the efforts TO
realize. The weakness of Amalgamated Copper
alsv had sentimental influence. the more SO
the price of the metal was further ad-
vSnced and reports continued persistent of an
&: Intended increase in the dividend rate Div
idehd increases and prospects played a con-
siderable part in the days market The plac,
ing OF Chicago, st. Paul, Minnesota and
. Omaha. on seven. per cent dividend basis
: Callsed rapid rise of 10 points in that stock
arid removed the hopes Of increased disburse-
..nents on some other issues Kansas and Texas
preferred. Chesapeake and Ohio and American
Smelling were manifesty affected by such
hopes. Reading was easily the center OF in
. teEest iii the market and there was no SPECIFIC
news account for it's fresh advance. The
iarge amounts of this stock which have been
taken out of the market to effect the diStribu-
.iian OF its control among other railroads has
leIt the floating supply small that IL re
spends readily to operations designed to move
this pcice. For this reason it has become
fasorite with operators who desire to make an
effect upon speculative sentiments 1t proved
n by no means equal however. to Union Pacific
+. side market held it's recent large share of at
J! tention to-day. although activity shifted from
. Nnrthern Securities into International Mercan-
tile Marine, which, together with Northern
Securities of the late creations in
:: the period of wholesale output of new securl-
: ties. which was too late to get through its
preliminary stage in the outside market and
make It's entry on the Stock Exchange itself.
. A. violent break in the new United states ship
building stocks also brought into renewed NOTICE
ar cid episode in the outside market. Nothing
developed to explain either movement Prices
on the. stock Exchange faded away In the
latter part of the day and the closing was
wsak and generally slightly below last night
level No.,
sales par. value, S5, 115, coo.
United States bonds were all unchanged on
call. .r,,1-r- rSr
E. F.. Hutton & Co., 4S0 California street
san. Francisco members of the New York
Stock Exchange, furnish the following official
quotations of that exchange:
&.