The daily morning journal and courier., 1905-04-12
STOCK MARKET FEATURES
INDICATIONS THAT CONSIDER ABLE REALIZING TOOK PLACE.


 ABLE REALIZING TOOK PLACE Winter wheat's Splendid Record Fell
 FIat--Had Been Discounted--IIiinOis
 Central Rushed Up to Steady the
 Market--Rock Islands New Bonds for
 Europeans New York CentraE's Weakness-Other Gossip.
 Although the winter wheat crop showing was brilliant, the market yes- terday failed to get stimulated. There was g. little advance at first, but heavy realizing soon set in, much of it from the western operators again. Toward midday the market was steadied by the rushing of the price of Illinois Central, but the market acted tired, --.
 The theory that the May wheat deal had something to do with the western liquidation was supplemented yesterday by a rather general opinion that Chi cago operators over-bought the market to a large extent on the late buoyancy.
 The condition" figures as to winter wheat submitted by the department late Monday afternoon were virtually as good as the splendid figures in 1901, and were never but once exceeded. They are higher by fully two per cent. than the gran trade generally had ex- pected, and, on the basis of acerage s,,1aY fnd T 1,ys gest winter wheat yield in our history Yet the stock market had apparently discounted the news, as it usually does.
 The basis of the hitch in the southern iron merger is said to be the refusal of Sloss- Sheffield interests to take securi- ties in the new combination. They want cash. .1
 x London bought and sold yesterday about 35,000 shares, selling chiefly the Steel stocks. B.
 The advance recently in Rock Island collateral per cent. bonds has led to 8 more cheerful sentiment in some quar- ters as to the prospect for a movement in Rock Island shares. Pool manipula- tors have found it difficult to move the stock in the face of heaviness in the bonds.
 New York Central was under pressure about all day yesterday.
 Amalgamated Copper rallied sharply from the. midday break to s6, but it again reacted. American Locomotive was one of the firmest issues in the list, while United States Steel shares also suffered from liquidation.
 The Chicago, Rock Island and Pacific Railway company has sold to Speyer & < Co., $7, 100000 of it's first and refunding mortgage gold bonds, due 1884, issued for improvements and betterments and for the acquisition of new rolling stock during the current year. The bonds have been resold to Speyer-E -Ellissen, of Frankfort, and the Deutsche Bank of Berlin, for official issue and introduc- tion in the German markets.
 There was evidently weak bull ac- count in New York Central, as it made very poor resistance to the liquidation based on the loss by the company of the Park avenue damage suits. The occasion for high discounts at Paris is found in the fact that there were being large French subscriptions to the $30,000,000 English Kaffir Trust company, and preparations had to be made for some heavy loans about to be brougt out, partly in connection with mining companies
 The governors of the exchange have been petitioned to close on Good Fri day. Request will probably be made also for a holiday on Saturday before Easter.
 Northern Securities, after selling at I70A on the curb, reached in the after noon to 16SA, then rallied to above 169. The decline was based on disappoint- ment because no action was taken on the dividend.
 The news that F. H. Hartman had been dropped from the Northern Secur- ities direction accelerated the selling movement during the afternoon. Near the close, however, there was a rally from the lowest point on covering of shorts and a rise in Union Pacific above Mondays closing.
 The marking up of Illinois Central half dozen points was regarded as due to manipulation by a leading oper- atory with view of steadying prices while distribution of long stocks was going on elsewhere. There was no news