The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-03-16
STOCK MARKET FEATURES
RISE ON CALL LOANS TO FOUR
PER CENT.

THIS SIaFteu NOnsAueEdolc SeuluE-os &
WIS Continued Soaring-RumOrs
About Guaranteed Dividend--T. Prs
Annual Report-InterborOugh on
Per Cent. Basis-scepticai Talk About
Reported Big Railroad DeaI-Other
Notes.
The market showed general strength
and activity yesterday until in the aft
ernoon lively selling began, due to the
news that call loans had risen to four
per cent. This event was incident to
the return to the government Of the
balance of the $15,00O,O0O called from
depository banks for payment into the
treasury yesterday. 1t was soon appar-
emit, however, that this would cause
only temporary firmness in money.
The movement in Ontario and West
ern was carried over into yesterdays
market, with about 10000 shares chang
ing hands in the opening trading
around so IL; with a later advance to
GO. The strength of it was the belief
that the stock would shortly be guar
anteed per cent, and that the ma
jority holdings would shortly be trans
ferred from the New Haven to the New
York Central The stock has been very
much better than any of the old hold
ers of it ever anticipated. London has
been a good buyer of the stock this
| week. -a
The Texas and Pacifc's annual re-
| port was the most important state
ment of earnings made yesterday. This,
| unlike the Missouri Pacific showing,
| was an improvement over last year, al
| though a deficit and a decrease in the
total surplus was reported, Gross
earnings for the year increased $685.
| 600, while net increased $51200O. The
years deficit was $4,000 or a decrease
| of s13s,O0O from 1909 ,..
| Opinion among commission houses
seems to be that Hartman and Van,
| derbilt issues will in all probability re-
| tain their leadership In the market,
and that at least for the new few days
| their movements will have much to do
in determining the course of the list
| in general. ..sa
| Considerable bullish stress was laid
on the estimates by railroad officials
| that the transportation companies have
planned to expend something over $780,
| 100000 for new equipment this year.
Chesapeake and Ohio sold close to
| the high price Of last Friday. In spite
of the denials of an increase in the
| dividend, ON which the stock was first
doomed, it has held its advance well,
Interborough's Rapid Transit appoint
rise before the announcement Of the es-
Establishment Of this stock on a per
| cent. basis, came in for much COM
| 1nent. It eased off 1 IL points to 21s
after the announcement, but at this
| price livestock was regarded very high,
| at the current dividend rate. .-.
Stocks which speculative houses pick
out as standing well for market prom
inence and advances include Kansas
City Southern, Colorado and Southern,
| GLOVER Leaf" Great Western, Wis
| consin Central, and also Ontario and
Western, despite the latter's recent
| strength. ..5~ =
I IHH SdTHIHSS OIL the LOUISVILLE dIlu
/ Nashville Railroad company are ex-
| pected to show large increases in the
near future, owing to the unexpected
activity In iron and coal in the Bir-
ningham district. The cotton move
1nent also is larger than at this time
a year ago. Beginning April /, the
| company, it is thought, may show in
creases as large as 100000 a week.
Philadelphia was bullish on Erie yes
| terday. London bought well of Erie.
The strength of Atchisons position is
coming in for some questioning. Con-
verts to the bear side Of the stock have
been numerous since it crossed 80, ac-
cording to more than one market au-
| thority, and the selling of long stock
4 is of significance which is not to be I'M
/ derestinlated.. On the other hand it is
held that the stock will be kept strong
until the new convertibles are out of
! the way. H.
i tDistillers' Securities sold well above DO
on buying Of the same good character
i noted on Tuesday. The story was that
I a pool had been formed by some of the
largest holders and a number of their
friends. !, .:-@--