The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-03-10
STOCK MARKET FEATURES
RENEWED ACTIVITY DEVEL-
OPED YESTERDAY.
Large Dealing in Many Active Stocks
Reading, AmaIgaInated, Anaconda
Sentiment Pfeponderate.

A remarkable change from the recent
dull and heavy conditions surrounding
the market appeared yesterday. There
were large dealings in nearly all of the
active stocks and about $4,000 shares
quoted in large blocks in the six or
seven leading issues. The inspiration
seemed to come from the bull element
who made Reading close so strong the
day before. Reading came within a
quarter of point of touching 100 yes
tefday. This is pretty good rise from
~ or Al a year or so ago, when nobody
but insiders wanted the stock. There
was evidence of pool selling of Reading
on the rise. The stock is said to be
booked for par or better.
Shelters was lively and opened from
94& to 94B. In the afternoon it was
rapidly bid I'D above SO. The scarcity
OIL STOCK was very prominent at the ad-
vance. A dividend of 1ls per cent. is
expected next week.
The room traders thought. that the
Gates clique had tried the bear side and
had concluded that the long side offered
better opportunities. Charles G. Gates
& Co. were probably the heavies. pur-
e "a aSe :, OF stock yesterday, They took
States Steel, 5000 Mexican Central and
took large amounts of Union Pacific,
Atchison, Amalgamated Copper and
other issues.
1t is believed that the Missouri Pa
February will be very poor. Ro3k ISL
and officials say that the operating diff
hculties that month were the hardest
ever known.
Union Pacific, one firm, which was a
large buyer recently, disposing of 10000
shares, and other commission houses
also selling. On the other hand, houses
which took profits some days ago by
advice" were buyers Wednesday and
Union Pacific opened with 5000 shares
from 134 to 1881 and did better before
noon. The operations in the stock were
professional and did not appear to de-
pend on any developments relating to
the property. ~,
Some very good buying of Pennsyl-
vania developed, and New York Central
was strong. -. Lava.
The market opened strong, with gem
eral advances. Sugar was the only
weak stock of the active list, declining
" per cent.
The response of our exchange to the
European situation was not only
prompt, but of a decided character, and
ket moved up from the opening until
late In the day. The advance in the
great majority of stocks ranged from
to B, with an exceptional rise of S1s in
Anaconda Anaconda's very sharp rise
was due to scattering buying, some of
it prompted by inside advice, accompa-
MED by more rumorS of an increase in
the dividend rate at an early date.
One of the market letters says:
There are reasons for believing that
metropolitan will go much higher. The
bullish interview from the Gould camp
ought to stimulate Missouri Pacific. We
are still bullish on the United States
Steel issues. The talk is bullish on
Union Pacific and Southern Pacific in
The reduction of the Bank of Eng
land rate to 2k per cent. impaired a
strong tone to the London market, and
American stocks shared in the improve
meflt. Prices came generally higher.
,Arbitrage houses traded in both sides
of the account, buying on balance about
$4,000 shares. Ezs5...s ....-
The popular belief was that the rise
In New York Central foreshadowed new
rights on securities to be issued for inn
provements. considerable short in
terest was discovered, not only in Cen
trail, but in many other high-priced
shares. lE Il ( r. \. 49, %. N.. ~
The annual meeting of the stockholm
ers of the Connecticut Railway and
Lighting company was held at the Of
fees in Bridgeport yesterday. There
was but one change made in the board
of directors, General Manager ]. e,
Sewell being named as a. director to
nected with southern trolley road
After the stockholders meeting the d.
rectors met and elected the following
officers: President, A. M. Young; vice.
president, d. s. Plume; secretary, W. F.
Douthirt treasurer, Louis LilIey; as
sistant secretary and treasurer, e. w.
Pools. The only change in the board of
officers was in separating the offices of
secretary and treasurer. The compa-
ny's annual report shows net profits,
after all fixed charges, of $13O,236, be-
ing very favorable report. The gross
earnings were $1,1f6,235; operating ex-
penses in gross $715,176. The net earn
ings We're $4O1,059.s Out of this Is de-
interest on construction loans of 1880,