The daily morning journal and courier., 1905-04-13
STOCK MARKET FEATURES
AN IRREGULAR MARKET WITH
 STRONG CLOSING.


 The Strength of the Bull Pool on May -wheat-Copper-The Money situation U. Bull TIps-N. Y. Centrars Weak ness-BIg Four's New Stock Issue 4. L. O!s Strength-BuII Talk.
 Stocks looked cheerful yesterday, es- pecially toward the close of the day. The market was weak, but recovered and held its strength. Mondays very favorable crop report, and highly en- eouraging statement of monthly iron production, given out yesterday com bined to create a more cheerful senti- ment, at least outside the atmosphere of the stock exchange.
 Figures of the country's pig iron pro- duction in March, published yesterday, were very remarkable. They run 15s,- 800 tons beyond January, the previous high monthly record, and 475,00O tons above March of last year. As com pared with last months 1,936,00O tons, the output last July was only 1,120,S1S. Furnace stocks of iron on hand decreas- ed 30,000 tons to the smallest total since August 1, 1903. Allowing for this re- duetion, the country seems to have been consuming iron this past month at the rate of about two million tons per month.
 Wall street felt easier when the re- port came that the bull pool in May wheat would be likely to blow through all right. The clique was able to put up the price of wheat yesterday. An authority figured that the "big fellows who compose the pool can take care of 100, ,00O bushels of contract wheat, if necessary.
 The late improvement did not mate rialize until it became apparent that liquidation, which has been very heavy for several days past, had, temporarily at least, run it's course. What also helped turn the market was unmistak- able evidence of better class of buy ing than yesterday or the day before.
 The weakness in Copper was to be found in the general technical state of the market. At S6 it had good SUD- port.
 Payment on account of subscriptions to the Japanese loan will be factor in the direction of augmenting supplies of money at this point for some time to come, and when the prominent railroad loans recently authorized are placed on the market the interior will no doubt subscribe freely. Thus the local situa- tion will be strengthened in the future to meet the call of the treasury upon the banks for the transfer of govern ment funds.
 The bull tip on Union Pacific was well distributed before the opening, the philanthropic work having begun the day before. Everybody had it, but against this it was said that well-in- formed people were bullish on the stock. l.
 At the advances there seemed to be plenty of stock for sale, both from the professional element and from commis- sion houses. The bear party was quite aggressive, taking 110 for Union Pacific and 150 for New York Central.
 The bond market was quiet, but 6lcduy. lIlG pIliClpcl 1CdluICS WSlS Japanese 6s, American Tobacco As Brooklyn Rapid Transit As, Rock Island collateral As, Union Pacific convertibles United States Steel sinking fund 5s Wabash debentures B, Wabash Pitts. purg Terminal firsts, and Wheeling and Lake Erie As.
 The selling of New York Central which has been one of the causes of the general heaviness, continued until the stock had reached 156A. At that figure it was off 111s points from the recent high level There was a good deal oi stock bought above 16O that has beer coming on the market the past few days. -...- i
 The western houses were again sai6 to have been large sellers. Charles G Gates & Co, for example, were declared to have disposed of large blocks.
 Chicago Union Traction and People. Gas both sold lower than at any timt since the election. There has been liq uidation in both on the prospect of mu nicipal ownership, and also some effort to make themilook weak by opponent of the present administration.
 The rights on Big Four new stock vii amount to about 1A per cent. This vii give shareholders over per cent. fo the year f
 American Locomotive shares mad' new high rocerd prices on what wa said to be manipulation by the pool il Wolf Brothers office. This has beer the gossp for some time past. London dealt in about 55,000 shares hi1yinsr 25. .00O Gn balance The earl, market was heavy on reports of Kim Edwards illness.
 A new high record on very larg transactions in Shelters stock was tn, most spectacular incident of the after noon. ,,~--- ..'
 TO CLOSE GOOD FRIDAY.
 New York, April 12.-The governin! committee of the stock exchange vote, to-day to close on Good Friday.