The daily morning journal and courier., 1905-08-19
STOCK MARKET FEATURES
CONSIDERABLE WEAKNESS, AT
 CLOSE, ESPECIALLY.

&6OSLg LSELGAdLALs
 Declines Accompanied by RaIlies-sev-
 eraI Reasons Given for the Setback Big Orders for Cars and Electric LO-
 cOmOfives - Gossip The Long Ex-
 pected Reaction Come Yesterday but
 it Was Nothing Serious.
 After opening strength in the grang- CTS, with some good advances, the mar ket slid off and minus signs are quite frequent in the list of transactions.
 Less favorable talk as to the peace negotiations was given as the cause of bhe declines. but there were other causes, such as the weak bull accounts, which accumulate in a big bull mar ket, and an Overbought condition of the market.
 There were no particularly unfavor- able developments. Reports of railroad earnings were usually excellent and the fact that neither Japanese nor Russian bonds were weak in the foreign mar kets was construed by careful market students as the best evidence of the real situation at Portsmouth.
 About 30,O00 shares of Union Pacific were dealt in between 137 and 137, 3-S during the first twenty-five minutes, giving an appearance of great strength, this was largely manipulation.
 New York Central, it was stated yes terday, has for some weeks been han ding 25,0OO carloads of freight day, this being a larger business than has ever been done, even in the busy win ter months.
 Union Pacific and Amalgamated Cop per, which has been progressively strong Thursday and tie day before, went backward yesterday. They were press ed for sale on every good opportunity. The same was true of Erie.
 The London stock exchange will be closed to-day. The cable dispatches say that the closing is lat the request of the managers for the purpose of carrying out certain important work
 If the preliminary estimates of the weeks currency movement, compiled yesterday for the Evening Post by laeding Clearing House banks. reflect the actual banking position, the out How of harvesting funds may be said to have begun. The banks show net loss of $5,49S,00O on total dealings, $3,- S49,000 of which is represented by ex- cess shipments to the interior.
 Those who say the Hill interests have been buying Union Pacific look for an early distribution of the con- plete Northern Securities assets. They estimate that Hill houses have taken 150,000 shares of Union Pacific in the past week.
 The rushing up of Reading 1 S4 points early in the afternoon to 113 1-2 appeared to have been part of the plan to help sell other stocks. The holding of Pennsylvania was another help, The latter touched the highest price of the week, and was within 1 1-4 of the highest of the year. Bal fimore and Ohio, meanwhile, was dis tinctly weak, and was the object of much inquiry as to the cause. Erie was alternately steady and weak. There were some large sales of Erie preferred stocks at an advance of 1-2.
 The Panama Railroad company is stated to have ordered 600 box cars of S0000 pounds capacity from the Amer ican Car and Foundry company. From the same company the New York Gen. tral has ordered 174 electric steel cars The Kansas City Southern is in the market for 800 box cars and 100 stock cars, the Erie for 800 box cars, the Southern Railway for 300 dump cars and the Seaboard Air line for 800 plain box cars and 800 ventilated box cars The New York Central has ordered B electric locomotives from the General Electric company and the American To- comotive company jointly. These are but a few of the many new equipment orders now being received by manu- facturers from the railroads.