Las Vegas daily optic. [volume] (Las Vegas, N.M.) 1880-1908, 1905-03-08
SATISFACTORY OUTLOOK.

Unless all indications fail we are ap.
preaching a period when the stock
market viii show rapid and Wide fluc.
tnations. A very optimistic undertone
prevails because OF generally s~atisfac.
tory business conditions and the album.
dance Of easy money. This situation
OF course stimulates buying for the
rlse among The trading classes, and
the advance would. no doubt. be car.
ried much higher were II not for the
fact that prices are already exceeding.
ly high, and the large interests In the
market having materially diminished
their holdings are known not be be
very aggressive bulls. We are now
probably nenr the elimination OF this
prolonged rise, Some stocks may
reach a higher level under social
influences. but technically the market
Is growing less and less strong for
stocks are steadily passing from
strong into weaker hands and ell the
good conditions now observable have
been pretty thoroughly discounted
Today there IL a wider division oi
opinion regarding values that there
has been for many months the conser
v~atiyes who are growing In number
standing aloof awaiting n lower and
safer level before investing. while thu
optimists. who are also numerous
point 10 the many favorable factors al
sufficient to prevent any material OF
permanent reaction. Traders conse
quently find conditions much to theil
liking hence our opinion that wild,
fluctuations are in prospect. Induce
ments To profit taking are nnnSua
and likely 10 lend to sharp and uneN
peeted reactions.
The iron trade is now on a boom,
surprising NIL previous records. Tn,
production of pig iron IL running a
the rate Of about 1000. 900 tons d
year. all OF which IL going into rapid
consumption, Eight months ago pro
dnction was running at the rate ol
only i2.000. 900 tons per annum. OuI
furnaces and steel mills are taxed tC
their fullest capacity. and the pur
ehases are largely for railroad pur
poses and public works. many OF
which were suspended a year or two
ago, The certainty that iron viii no,
go lower. and The abatement Of labor
troubles, coupled with the general
business recovery Of course, explain
the phenomenal activity In iron, A
great deal OF construction work had
been held back In the hope of reduced
costs. the result being that there Is
often mn insufficient supply OF bust.
ness and dwelling structures. and
rents are high In consequence. All
classes of builders should find plenty
to do this spring Recent reports of
the hig industrial concerns show that
they arr having a good business year,
thirty seven companies paving diyi.
dends In March ~aggregatlng $2a. 600
600. compared with t2i, 500 900 last
year and &la.s0aaoa lhe year before,
Bank cieurings' Ia the third week of
February were about ?5 per cent
ahead OF last year. and In the fourth
week they were nearly 80 per cent
larger than In the same week a year
AFRO. The heaviest gain was, of course,
In New York, Where speculation eN
plains much OF the increase, but cities
like pfttsburg. Boston. baltimore and
Philadelphia also report big increases,
showing that the revival Is most pro
nounced In the east. though rapidly
spreading throughout the west. Rail,
road traffic has suffered somewhat
from severe weather. but reports OF
earnings are generally satisfactory.
The monetary outlook continues
satisfactory The period is approach.
|ing-April l-when the money market
frequently shows some stringeney and
adversely affects stock market opera.
tions Funds, however, are abundant