The daily morning journal and courier., 1905-02-15

feOple's GaS DnrespOnsiTe-Gates Still BuIIish He Says-Atchison Rights
 IA. s. U. Issues-SteeI and Iron. Although time money advanced on the surplus reserve reduction the stock market paid little heed to it. Peoples Gas didn't act right after ] the announcement of it's big earnings ! the past year. Over 2,O0O shares accu- mulated in anticipation Of the state ment were promptly sold out. The
 trouble is that the stock has more Chi eago litigation ahead.
 The proposed merger of the Southern iron companies seems to consist of talk or wind more than anything else. A Chicago dispatch last night says: John w. Gates was in Chicago yester- day on his way to the Pacific coast to spend the rest of the winter. He re- iterated his bulIish views on stocks and the general financial situation. MT. Gates said he was out of the market for some time and proposed to enjoy himself hunting and fishing until spring.
 People owning stocks are contented with the business prospects and so there is no selling pressure.
 The dealings were very dull in the early afternoon and with narrow and insignificant price movements in the general list. Traders operated in small lines and a waiting attitude was gen. erally adopted. Commission house bus mess was small and mixed.
 Among the industIials that were &C., tive were Railway Steel Springs, Rub Der, Car and Foundry, Federal Min ing, Realty and Pacific Mail. Halstead & Hodges bought 5000 Rubber The rise of Car and Foundry was a reflex of the 5-point advance in Locomotive.
 Professionals profess that their idea is that the industrial issues particular ly the Steel stocks, will be the next to go up. There are wagers now that Steel common will be to 50 again before this year goes out.
 Speyer & Go. will bring out $15, ,000,- 900 of Grand Trunk per cent. bonds within a few days. They were quoted in London yesterday at go.
 Wall street was much disposed to watch the movements of leading finan- ciers and operators who either have left or are about to leave for winter vacations. A traders market is fore- shadowed.
 It was reported that some traders had been buying the rights to the new Atchison per cent. convertible bonds and selling the common stock against them.
 Union Pacific common and Canadian Pacific were strong features of the market. Union Pacific was bought by London, but there was some liquida- tion here through Raymond, Pynchon & Co.,, Edward Sweet & Co.,, and Har- riman & Go. However, the stock was we'll taken, and in the last hour heavy buying made the stock the leading feat ure of the market. It sold at 123, new high price. It is understood that the Chicago Great Western Railroad company has i, earned the full interest on its preferred "A' stock, but it is doubtful if the di- rectors will decide to resume the pay ment of interest at this time.
 Japanese 6s of the first issue sold at 100 IS. In London they were 1 3-4 to | 10s. It was figured that they were sell ing here at 1-2 per cent. above the | actual par and interest on the basis of | exchange.
 Kansas City Southern issues were | for further strength, the l preferred touching 70 yesterday morn ing for the first time on what was said l by close observers to be the best kind | of buvinp