The daily morning journal and courier., 1905-04-08
STOCK MARKE FEATURES
coSTTNUEDIRREJLARITKA
 MONEY 4 If FIR CENT.

Strong Market i'm sps and Consider
 able ReaIizing-Runrs and Theories
 About St. Paul, N. 3Central and C'
 P.-sOme LiquidatIof Peoples Gas
 Steel Preferred's H.s High Record
 Stock Increase~Oy ID. and H. and
 Erie.
 It was a stroI market yesterday Ill spots and an. irregular market. A good opportunif for realizing was pre- scented and tbes was good deal Of re- alizing. Thereseems to e a gbood deal of realizing wenever the market taxes on a confidnt ,buoyancy. The DIE men have nothad many real opportu- mites for resizing and they seem 10 improve suct opportunities. All the same, after nalizing has gone on the market wakes up again and renews its smiling face. Some of these days' however, the market will look very tired-but exactly when no fellow can find out
 There was a good accumulation or buying orders over night, and there were largely from the western contin- gent They bought on an extensive scale and helped the booming. The late selling was for both accounts on the theory that the market had been having rather hot pace of late. Call money also rose to 1-4 per cent. and this encouraged profit taking.
 Large buying orders appeared at one time or another in Rock Island, South ern Pacific, New York Central Read ing, Erie, the fractions and the Smelt- ing issues, In all these stocks sharp advandces were recorded during the ear ly hotars, the Shelters shares in par .ticulalc making new high records. Whiles the rise was in progress here { profit7 taking went on extensively and persis3a aently in such leaders of the pre- Vfous o movement as the Steels, Balti- more sand Ohio, Union Pacific, Atchison, Lead,a Locomotive and other special It ais believed that there has been some inside liquidation of Peoples Gas byIg the Keene and Brady pool, who m Ade it sell recently at 115,
 Steel preferred made another high re- cc ord, going to 1O3. Trading in the steel ts' ssues was heavy, although these $ stocks, with others that benefited in Thursdays rise, were frequently de- pressed by rather heavy proft-taking ' sales.
 Erie common was strong above Al in spite of the increase in the capital stock. A.s'A. Housman & Co. bought several thousand shares. The stock is still three points away from the con- version price. &@
 The market had to take good deal of Atchison, Union Pacific and Steel preferred during the morning, but the stock was "aibsorbed.'' Total purchas- es in London were estimated by some as high as 50,O00 shares, while sales on the rise were about half as large as the Apurchases London bought and sold largalEof the steel stocks. It was thought the orders were mostly placed on this Side.
 It is said that the gross increase of the three roads in the Northern Securi- ties system in March was about $1,500,- \ 900. Great Northern and Northern Pa cific together gained nearly $1,150000.
 The speech of the President in Texas, referring to the railroads as creators of - wealth and saying that they as well as all others must have square deal;" {. Snd the announcement that the Harri- man interests would not carry the Northern Securities contest any fur ther in the courts were used as bull ar guments.
 Of the stocks which are popularity supposed to be connected with deals" nY EG hn 61.Y1a Act while Union Pacific, which according to runor, is to take over the Central, was no more than steady during the most of the day.
 Western wire connection houses were large buyers of St. Paul. their orders being accompanied by expressions of the belief that St. Paul and Union Pa cific are in the same deal. v
 The sharp gains that have occurred this week in the industrials and since Wednesday in railroads, laid the foun- dation for, heavy profit taking yester- day. The professional element and some of the houses that have been buy ing for the pools supplied a great deal of stock which general commission houses took. ra
 The room thought that the move ment in Rock Island Hooked like the real thing.'' Insiders were reported as Dullish on the market However, the stock slipped back curiously. The traders thought the inside party was selling Union Pacific on the bulge. Z The wave of orders apparently did not reach the American Car and Foun- dry company in the three months cov- cred by the report of yesterday. as earnings applicable to dividends were only $5S6,0O0, some $S577 over 1904, and only $11,OGO in excess of the dividend re- quirements on the $SO,OOO,000 of pre- ferred stock, on which per cent. is paid.
 FRIES s20000,o 900 NEW STOCKS.