The daily morning journal and courier., 1905-02-21
STOCK MARKET FEATURES
UNION PACIFIC THE BANNER STOCK AGAIN.

The Reasons Adyanced-Northern se- curities Actiye-SteeI Commons Ac- ,tiyity-st. Paul Talk--southern Pa ciftc Gossip.-snow Bound-O. & w. Talk.
 Union Pacific was the banner stock yesterday, mounting upward to 1Slh. At that point realizing sales were met. It is believed that there is still a good sized short interest in the stock, and then, too, the big talk of the stocks earning capacity and its revenue from Southern Pacific are trotted forth. The stock is heralded now as another Northwest common. Give it time. Last Tuesday Union Pacific sold at 121B. Since it began to advance last March it has risen 60 points. In that time the market value of the common has in- creased $S5.6O0, 1000. .....' z; Northern Securities on the curb, which was run up several poins to 163a before noon, in sympathy with Union Pacific, and as a part of the same programme, apparently, to induce | buying Of the Northwestern group of stocks, broke sharply at midday under selling to take profits, getting back to 161ss. The street seemed to be letting this stock alone. It was again demonstrated that the market and the boom eenters around the Northern Securities situation.
 An order has been placed by the Atchison for forty-five balanced com pound locomotives. It already has for ty of these engines, being the first road to give them test.
 Sentiment was also very favorably influenced by the strength and activity in the United States Steel stocks. and 40 for the common at an early date was talked of, s*%r %...A
 There was a good deal of sarbitrag-, ing yesterday between Union Pacific common stock and the convertible bonds, this being facilitated by a wide difference at one time between them. Last week they kept close together.
 Erie common finally struggled up to 451s and after various relapses closed at 45ss, a gain of 1B points.
 
 the rise in St. Paul, but the popular view was that if any railroad deal is pending in the northwest St. Paul should come in on it. Because of the small floating supply it is an easy stock to mark up. s.ssr . . .,. Southern Pacific, some insist, is bound for a much higher levef. It has ad- vanced only 4 per cent, while Union Pacific has gone up nearly 20 per cent. in the same period and other prominent stocks have had notable gains. The objective point for southern Pacific is said to be 75. .. < . .-4.;. s..z. ...... ...~
 National Lead and American Sme1t- ing were strong, in connection with talk about lead combination. Federal Smelling common ran up to 120. a new high record. It slipped back to 114M before the close, but made a net, gain of 5 The last named yesterday declar- ed the regular dividend of 1A per cent. on the preferred stock and 11s on the common, and an extra dividend of per cent on the common. &
 Amalganated Copper took a start upward late yesterday afternoon. It is believed there are many shorts yet in this stock y,+%@
 Executive officers of western roads will meet at the Waldorf next Thurs day Shippers associations of Chicago, St. Louis and Cincinnati will be present to maintain that at existing rates they seannot compete for southwestern busi- ness. a A Chicago dispatch says: Notice has been given by the Rock Island road that it will carry corn and oats locally from. Iowa points to Chicago on the same basis as it's export tariff issued some time ago. The new rates are now , in effect. The St. Paul road has not met the recent cuts in local rates from Iowa and South Dakota points, grading from a basis of nine cents per one hum dred pounds for corn and oats in een- tral and eastern Iowa up to nineteen cents in South Dakota. Rumors were af1oat Saturday that freight rates throughout northern Illinois were to be reduced to basis of five cents per one
 
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