The Montgomery advertiser., 1905-02-25
WALL STREET REVIEW
RESUMPTION OF STRENGTH, WITH
 MARKET MORE SETTLED.
Decrease of Fears Regarcing Struggle for Control of Several of the Big
 Southern Iron Companies.

Ne wYork, Feg. 24.--The stock market was more settled today and there was re- sumption of strength. This was largely que outcome. stock-market-wise,t to the struggle for control of the Touthern iron companies There was less reason to fear a, corner in those stocks and their movements were less excited and convulsive than those of yes. terday. The group was regarded with more or less suspicion and distrust however: which was accounted for by the continued conflict of the various statements and re. ports put m circulation with a semblance of authority
 These were con ierned with the progress alleged to be made in the accumulation of controlling holdings in various companies and of the terms said to be agreed upon for payment for the stocks. The quotation In the market continued widely different from the alleged terms and the public at large was much at .oss to form accurate Of the whole affair.
 Activity reverted very largely to the rail- road list and the high grade of the stocks most prominent In the trading helped to Poassure sentiment disturbed by yesterday s sensational fluctuations. New York Central was leading feature and its advance of over points was made on much larger transactions than are usual in that stock The principal operations were attributed to the same sources as the recent campaign in Ontario & Western. This led to a re- vival of former rumor that the recently acquired . control of the New York. New Haven & Hartford and Ontario & Western was to be transferred to or shared by New York Central.
 The movement in other Eastern railroad stocks was largely sympathetic. Union Pa- cific recovered vigorously from it's rather sharp break of late yesterday to q record price of l3e. and this was another sympa- thetic influence of wide effect in the mar ket. Illinois Central was the leader in the Southern group The buying of the stock had no other explanation than general con alterations of its relative price level Amal- gamatei Copper seemed to be helped by the extra dividend declared yesterday on the stock of an important independent cop per company. The Wabash System report ed net earnings for January. which showed falling off of considerably over 50 per cent from those of January for the preced- ing year, but its preferred stock was not debarrsd from . share in the days sti anRth. The Gould group was helped by the very large over-subacription of the S25, 100000 of Missouri Pacific bonds. which were offered today. The subscriptions received were re- ported by the bankers to be over eight times the amount of the bonds. This evidence. which Is rcorroborative of many officials ai the abundance of capital seeking invest ment. marks the real sustaining factor in the present extraordinary market
 The unmistakeably firmer tone of the mar ket today seems to be attributable to creuI requirements of this kind rather than td any decline in bank reserves. as the do- mestic money movement seems to have shifted again in favor of New York for tho week, the net gain in cash apparently sources. .l1f .--- s-
 The upward movement spread rapidly to- wards the last and the market gained great y in animation with tho last outburst in New York Central and Union Pacific, which carried Drices generally with them to a buoyant closing
 value, s5.S15,0o0. United States bonds were all unchanged on call
 NEW YORK ST OCK HIST.