The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-02-03
STOCK MARKET FEATURES
NEW HIGH RECORDS MADE IN
SEVERAL CASES.

Readings Prosperity-The Commons
Upward Soaring - Pennsylvania
statement-Lehigh Valley and the
PhiIadeIphians-Miss Pacific and
Rate Cufting-The Leather Stock.
How stocks can go up higher from
this level when the sap starts in the
trees is one Of Wall streets conun-
drums. vi
United States Steel shares rallied, but
met with more selling, and dropped
back. r..
Reading, which got to 80 and over
yesterday, is now booked for par, ac-
cording to some Of the bulls. At 80 the
stock has had a 50-point advance inside
of year-a very handsome profit for
those who loaded up with 1t at Al and
held it. 81 .--. -.szs~
The new high records made by Pacific
Coast stocks was associated with an
nouncement of the purchase Of a $780,
900 coal mine and estimates that this
will allow Of payment of per cent. div
idends on the shares.
The advance in Metropolitan Street
Railway and Metropolitan Securities
appeared to be an attempt to drive in
an old short interest. 1t was not very
successful. Prices reacted in the after
noon.
The Could stocks continue to lag and
1t is conjectured that Missouri Pacific,
Texas Pacific, the st. Louis Southwest
ems and others in the group will move
before long.
Union Pacific, Northwestern, st. Paul,
Arnaigamated Copper and various spe-
cialties scored noteworthy advances
) during the morning. EARLY in the aft.
ernoon the market still showed much
buoyancy. The large gold exports SEEM
ed to be ignored.
1t is known that some of the inter-,
ests controlling considerable Leather
stocks have withdrawn their opposition
to the reorganization plan and are adj
vising the deposit of them with the
committee. III,
Missouri Pacific has been strong for a
day or two, and it is reported that the
showing of earnings for the year will
be pretty good. But Missouri Pacific
just now is engaged in rate-cutting.
Among the specialties selected to adj
vance yesterday were international
Power, ST. Joseph and Grand Island,
Pacific Coast and Chicago Union Trac-
tibn. All Of them rose easily. Vari-
Gus reports were circulated in explana-
ton.
Baltimore and Ohio's per cent. divi-
dend is pronounced as conservative,
while it is also held that the stock is a
buy yet on it's handsome showing of
earnings r+. -,....
Jersey Central, Lackawanna, New
York Central, Reading, the 500 stocks,
sPere Marquette, Kansas and Texas pre-
ferred and Pacific Coast were among
the stocks that made new high records
for the year.
The Missouri Pacific has announced
that it will reduce the rates on corn for
export to the following basis por one
hundred pounds: Omaha to New Or
leans, IL cents; Kansas City to New Or
leans. 10 cents; Omaha to Memphis, 10
cents; Omaha to Little Rock, 10 cents,
and Omaha to st. Louis, cents. The
normal rate from Omaha to the Gulf on
grain for export is Is cents per one hun
dred pounds These are the most radf-
cal reductions which have been made
since the beginning Of the fight for corn
export traffic, and show that the lines
10 the Gulf are determined to maintain
rates at q lower figure than the lowest
rates to Atlantic ports. Nearly all the
roads in the east, middle west and south
are now involved in what threatens to
be very bitter rate war.
;Io JaJyo bat T.a1 foI1
valley was the best stock traded in and
sold UP from 5SA to 59R. Reading ad-
vanced from AN to 461S, under New
York's lead, to the seasons high-record
point and the highest figure at which
The stock has ever sold.
Metropolitan shaded off because, as
was said. there was to be no strike on
the subway.
There was only moderate response
to the Pennsylvania showing for De-
cember. In addition to the statement
for that month, there were the results
of the entire year to consider. With
gross loss of 81, 4S1, 200 east of Pittsburg
occurred a net reduction of $1,511, 100.
The entire Pennsylvania system earned
gross S242, 000, 900 and the net was over
S67 100000. 1t is stated that the income
from investments was larger than ever,
and that more than per cent. was
earned on the capital stock. This leaves
q. GOOD margin over the present rate of
dividends even in a year when the bust
ness handled was considerably smaller
than in previous ones.
In well-inforned circles it was said
the control Of Erie was not and would
not be possessed by any one interest
4 but by several strong groups of finan-
siers, who would work tremendously.
COLORADO AND SOUTHERN.
New York, Feb. 2.--The voting trus-