The daily morning journal and courier., 1905-05-06

Gas-Bears and BuIls-More HUH
 Talk.
 The tone of the market was strong yesterday, and considerably hisher prices were attained in most or lhe active stocks, particularly Union Fa- cific and Peoples Gas
 The market hinged largely on U. r., and as this stock was strong anu aeiH its rise, the rest of the market tooN courage. %
 Union Pacific's meeting yesterday as announced in another column, votsd tne s10O GOO GOO increase of preferred stock asked for. It came out late in the aIl- ernoon that fully a third of the new stock is likely to go for improvements dnclJ1ding a tunnel through the Slerras' estimated inv some to cost $20,OOO,oOO or more. ,.....
 What traders are no wtrying to make out is whether prominent interests VIII care to. take the offerings wnich are likely to come onto the market with each advance, because many have been waiting for a recovery in order to get out whole" There are supposed to De a great many weak accounts among operators-thrse individuals being free ly mentioned yesterday as having nad hard work to secure margins durlng the severe decline of this week.
 A small gain is reported in the week s currency movement, and as loans nave probably been reduced by the Hqulda- tion on the exchange, the chances are that to-day's statement will reveal the banks in a stronger position.
 There was considerable excitement in Consolidated Gas as result of the de- feat of the 80-cent gas measure in the senate. Starting 1 9-4 points higher than Thursdays closing, the price rap idly ran up to 200, then reacted little, after which it again rose to POP, or 5 2-4 points above Thursday. '~
 Pool manipulation was resumed in American Locomotive.
 The curb market rallied with the general list, with Northern Securities leading all, at a gain of points by early in the afternoon, when 1t was sell ing at 159 1-2, as against 156 1-2 Thurs days closing price. Interborough ad- vanced 2 points to 203; American Can preferred IA points to 70 3-S; United Copper sold at P S-4 and 23; preferred 70 3-4; Greene Copper 26; Northwestern rights 14 3-4; and American Can com mon Il 3-4 ..
 Peoples Gas made a sensational ad- vance. going to no, a gain of about ' points over Thursdays low.
 New York, Philadelphia and Chicago are all in the throes of gas agitation. Consequently speculation in the shares of Consolidated Gas, Peoples Gas and United Gas Improvement has been uni formly heavier than for a long period. Peoples Gas rose yesterday on the amendment of bill providing for nun icipal ownership.
 Some of the professional operators hitherto on the short side covered up their outstanding contracts on Thurs days decline and were actively ranged on the long side of the account in the early operations of the day. This made a division in the bear ranks and ac- counted for the decreased pressure from that source. --..,..
 A Denver dispatch says: The Cripple Creek ore production for April amount ed to 5S,000 tons, valued at $1,S63,300, or nearly $50000 more than the March pro- duction. The production in May is ex- pected to reach $2,0OO,0OO, if weather conditions continue favorable.
 Although London bought 10000 shares of Union Pacific the arbitrage transac- tions showed a balance of sales amount ing to 30000 shares. Practically all American shares were lower abroad. This was due to the heavy liquidation from the continent. The stocks that were taken Monday have found a poor market.
 The advance in Reading was accom- panied by rumors that the next divi- dend would be ? 1-2 per cent, putting the stock on regular per cent. an- nual dividend basis.
 One story in regard to Union Pacifics rise was that during the year an extra dividend representing the profit on Northern Securities would be declared.
 A dispatch from Laramie, Wyo., says that the Union Pacific Railroad com pany has begun building the old steel rolling mills at that place, and that it will begin operating them as soon as the work is finished. ..4
 For some time back, it is understood, the directors of the American Steel Foundries company have been seriously considering the advisability of resuming dividend payments on the preferred stock.
 The Union Pacific Railroad company has not up to date exchanged its re- naaining Northern Securities stock for Great Northern, Northern Pacific and stubs" With the exception of the Union Pacific holdings of Northern Se- curities, only about $1,00O,OOO or North ern Securities stock remains unex- changed. The Union Pacific has at the present time between $65, ,000,0 900 and s70,- 100000 of Northern Securities, having sold the remainder of it's holdings in the market. Something like $3,000,00 in di- vidends, therefore, due upon Great Northern and Northern Pacific stock, represented by the Union Pacific com- pany,s holdings, remains to be paid by the Union Pacific company. U. P. of ficials says their stock has not been turned in simply naccount of clerical reasons. There is no need for hurry. Tn fact the Union Pacific could hold back, if it chose, indefinitely, for some- thing that is due is collectible at any