The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-02-06
STOCK MARKET FEATURES
STOCKS HIGH BUT SITUATION
REMAINS GOOD.
Voices Here and There on the Subject
The Public and the Markets.

Voices Here and There on the Subject
-The Public and the Markets
Notes.
Henry Clews says: Indications point
toward continued activity, and in the
absence of unfavorable developments
prices may advance. 1t is, however, a
cliqued and artificial market, particu-
larly subjected to the setbacks arising
from such conditions. AS before said,
cheap money and good business are not
bear arguments, and the facilities for
manipulation are somewhat unusual.
Fortunately, the public is in a cautious
mood and not over-hungry for nigh
priced fancy investments. Purchases
should continue to be made with close
discrimination and profits taken on all
pronounced advances.
Charles G. Gates & Co. say: The con-
ditions are all good and we think on
any further setback that it will do to
begin to buy again. We rather look for
the Steels, Union Pacific and Southern
Pacific to lead the next advance, with
the coalers and Vanderbilts in good de-
mand and close followers. The news
of the week, aside from the bank fig
ures, was favorable. ..........
New York Tribune: The so-called out
siders are now apparently anxious to
buy securities at present high prices,
and the larger interests are not dis
posed to discourage transactions of this
kind, inasmuch as the big men" have
a large amount of stock for sale, but
evidently at still better quotations
than those now current. Doubtless
they are peddling out a small amount
Of stock on the way up in order to sup
ply the demands Of the public, while it
is quite evident that many shrewd cap
italists who always come into the mark
Ell in panic times and are to be found
on the selling side in boom days are
quietly letting the public have part Of
their holdings. The big speculative
pools however, are not putting out any
large amount Of stock at present prices,
and according to information that
comes from the inside circles, there is
no intention on the part of the powers
that be of letting the market sell off
materially at present. Probably just as
long as money remains at its current
low level the bull market will continue.
Warson, Leach & Co. are offering
S2,O00,000 st. Louis and San Francisco
seven year 4 IL per cent. notes at SO
and interest. They are part of the $4,-
100000 issued to refund the Arkansas
Valley and Western notes and for other
purposes. g.~.
The proposed increase of the stock of
the Mergenthaler Linotype company
from s10,000,000 to $1500000O is to pro-
vide the company with funds for future
requirements in the way of extensions
improvements, patterns, ETC. There is
no intention of issuing the stock at
once with the exception perhaps of a
very small amount.
The Southern Pacifics of California IS
have been called at 107 1-2, to be de-
posted on August l. The amount
needed to look after this refunding is
approximately $4,000, 900. THE remain
ing $50, 900, 900, par value, will reimburse
The Southern Pacific company for ad-
yances made to the railroad company
for improvements during the last few
years.
The Derby Gas company has asked
the legislature FOR permission to in
crease its capital stock to an amount
not to exceed $1,O00,000 and to issue
bonds. G. FL. :Nettleton of the New Fla
ven Gas company is president Of the
Derby company.
zThe charter asked for by the North
Hay n Gas and Power company pro-
vide, for manufacturing and distribut-
ing gas and electricity in the towns of
North Haven and Durham. The incor-
porators are r. O. Eaton and G. #.
Potter of North Haven, and r. J.
woodruff of Orange. The capital stock
is fixed at $4,000.
BIG TOURS GOOD STATEMENT.
Chicago, Feb. 5.-The statement of
the earnings of the Cleveland, Cincin-
natl. Chicago and St. Louis railroad
(the Big Four) for the six months end
cd January last shows a surplus of
more than $1,000,000 after payment of
all fixed charges and dividends of both
classes of stock. During that period
tbe road paid per cent. dividends on
the preferred stock and 4 per cent. on
q +he common stock. The statement fol-
lows:
Gross earnings, $12,141, 2S7 increase,
s1.071.155; operating expenses, $S;35S, 207;
T. increase $212, 1886; net earnings, $685.
$50; in3rease, $S5S,559.