The Montgomery advertiser., 1905-02-04
WALL STREET REVIEW ACTIVE SPECULATION CAUSED AD- {. VANCE IN PRICE LEVEL. Number of Stocks Which Have Had Unex-
 plaines Goof Fortune Relapsed SGarply in Effort to Dis
 tH pose of Aceu- mutation.

New York, Feb. 3.-There was continued active speculation In stocks today and a con siderable further advance in the price level. The movement was uneven and intermittent, the advance shifting from one point to an- other. There waa no definite news to ac- count for the demand, which was based on general considerations and which was fos- tered by the extreme abundance of money.
 Principal interest eentered in railroads of the eastern part of the country, although there was some recurrence of strength later in the day in the Pacfics. Reading con tinued to be the leading feature or the mar ket and the rapid enhancement in its quoted value had c material effect on the coalers and the Pennsylvania group particularly. Another motive for the marking up of thu of adjusting 1t to the recent wide advance lin New York Central. A movement in either one of the standard trunk line stocks Is certain sooner or later to be followed oV the other to preserve a certain parity be-
 Pennsyivanda is naturally benefited by the growth in value of the various com panies In which 1t holds dominating in- terest. and especially by the increased divt stocks. The rate of accumulation of Penn sylvania and in fact all the coalers was very rapid. Blocks of 1000 to 5000 shares were constantly transferred. The announce rnent of the Southern Pacific refunding plan revided the demand for the Paciflcs but did not carry the movement in tn am Tar. This plan has already figured to such an extent in the previous rise in both Southern Pacific and Union Pacific that its influence as a market factor was largely exhausted before it's announcement
 There was-some awakening in Rock Island after q long period of comparative neglect but that movement was not well sustained. It seemed to be based on the intimation that the supposed change of conrol in Kansas City Southern and Colorado X Southern was designed in the Rock Island interest. Atchison hung back during the period of strength and was one of the first stocks to weaken. The prospect of a prose cution in the Colorado Fuel rebate case ia not relished by stockholders, especially in view of the present public attention aroused to this wkNle subject. The extremity to which the grain rate war Is being carried must be taken some account of in regard to the earning power of the grangers mum. ber of stocks which have huj unexplained advances relapsed sharply today when ef- forts were made to dispose of recently ac- cumulated holdings The Duluth, South Short & Atlantic stocks were an example and the Minneapolis. St. Paul and Saulr Ste. Marie stocks also were heavy. Chicago. St. Paul, Minneapolis X Omaha preferred the purchase of 100 shares of which caused a rise of 35 points the other day. relapsed today 25 points sales of 400 shares The renewed strength of the coalsrs and a rush to buy Missouri Pacific pulled the marked up and made the closing strong.
 Bonds were irregular. Total sales, par value, $5,744,o0O United states bonds were all unchanged on call.
 NEW YORK STOCK HIST.