Los Angeles herald., 1905-02-01

q ItpuDllC Oleel, pTeleTTeu, GeODle y
4. Gas and Realty rose a point or X
4. more, and the general list moved =
\ upward, but with some constraint. +
q The movement in the Vanderbilts +
y showed signs of elimination when +
!. st. Paul was rushed up to $1.SS q
4. and United States Steel preferred q
4 advanced strongly. The Pacifics i
r were under pressure. +
- iFF - F. + ~ si*'s
BY Associated Press.
NEW YORK, Jan. 31.-Ths was an
other day of active and diversified
speculation with various shiftings in
its temper. There were signs of de-
preston at the outset and the points
most acutely affected did not COM
pletely recover their losses at any
time during the day. This pressure
centered upon Union Pacific and was
evidently in the nature of profit talk
ing on yesterdays buoyant rise
There was some disposition to revise
yesterdays estimates of the bearings
of the decision in the supreme court
as victory for the Union Pacific in
terests, whose petition was granted
The necessary consequence in the con-
tinued tieing up of Northern Securi-
ties affairs by injunction was the
cause of some encouragement by con-
trast with the universally favora BILE
view of yesterday.
The realizing in Union Pacific did
not however, extend the depression to
the Vanderblts which have hitherto
moved in close sympathy with tht,
Harrimans. The Vanderbilts sprang
into great animation and made sur.
prising upshoots in their prices when
1t became known that the directors
of the various companies were as
semblng.
The. greatest activity centered il
Vnrly lt.L
market supply of that stock, and its
rise, though notable, was restrained
by comparison with the Junior stocks
owing to the same reasons.
The % point rise in Chicago, st.
Paul, Minneapolis and Omaha was ac-
eomplished with the accumulation of
only few 100-share lots and the So
point jump in the preferred stock was
on a single transaction. Other ad-
Vances in the group were in propor-
tion to the scarcity of the floating
market supply due to the closeness
with which investments in these high
grade stocks are held. Practically
every stock in which there were sup
posed to be Vanderbilt holdings or
with financial or traffic affiliations
with them was affected and it was
the common supposition that some i'm
portant project affecting the pros
poets of the whole group was on the
(.
The coincident heaviness in the Pacif.
les and Eries in contrast with recent
buoyancy caused some hesitation in
the market and the general list was
tardy in responding to the Wander
bilt movement. The movement in the
regular dividend declaration for the
Cleveland, Cincinnati, Chicago and st.
Louis stocks. The hope of an ad-
vance in this dividend rate was one
OF the many suppositions surrounding
the movement in the group.
The belief that the quarterly state
ment of United States Steel earnings
to be given out during the afternoon
would prove favorable caused a de-
mand for United States Steel prefer
red and Amalgamated Copper was also
strong.
The opening dip in prices may have
been influenced to some extent by the
renewal of attention TO the subject of
federal control of railroad rates caused
by the presidents Philadelphia speech
and by reports of a party agreement
on a congressional measure.
The changes in officials of the Van
derbilt system looking to a concentra-
as adequate explanation for the ex-
cited movements in stocks and there
was considerable realizing late in the
day. Recoveries at some points made
the closing irregular.
The bond market was irregular. To-
tai sales, $6,450,00O.
United States bonds were all un-
changed on call.