The daily morning journal and courier., 1905-11-18
STOCK MARKET FEATURES
BU0KANCY WAS APPARENT
 MUCH OF THE DAY.


 Heavy Short Covering on Easy Money
 and Prospect of a Better Bank State
 ment-The COppers Were Strong,
 Heavy Short Covering.
 The stock market was quite active and quite buoyant yesterday over the easier state of the money market, and the prospect of a much better bank statement to-day than last weeks was The Russian situation was also less acute.
 The short interest that accumulated on the recent break in prices was doubtless very large. This account has furnished the market with good share of the buying orders the past few days.
 The movement in speciaIties contin- ued, and there was good deal more evidence of artifciality in the trading than the market, surrounded by so many uncertainties, can afford to ex- press. The highest prices were paid in the last hour.
 The directors of the New York Gen. tral and Hudson River railroad yester- day authorized an issue of $17,192,5OO new stock. This is a portion of the stock authorized April 16, 1902 Stock holders will be permitted to subscribe at the rate of $10O a share to the extent of 13 per cent. of their holdings. The capital stock of the road is already $132O0O0O0 Much of the stock is held in New Haven. It is not thought that the increase of the issue of the stock will affect the price of it unfavorably. Excessive margins are being demand ed in Europe wherever Russian loans are involved.
 Pools were very active, bidding up their specialties on the stin easier con- ditions in money and the prospect of a favorable bank statement. It was very noticeable that the rise in prices did not attract any outside buying.
 More rumors of deals in the South ern iron properties were again current yesterday.
 It looked yesterday as though Union and Southern Pacific had finally been entered in the general race for market honors.
 Amalgamated Copper was largely dealt in between 8S and 84, but the pool orders were so carefully managed that it was difficult to determine whether it was distributing stock or absorbing it. The Copper situation is in pretty good shape.
 The western houses covered 100000 shares of stock that were thrown on the market late Thursday at a loss of i 1-2 points.
 More loans to the bull clique by New York monied institutions were made this week.
 ~ There is no doubt but that the posi- ton of Russia is regarded as extremely grave in London by financiers and that it is causing them to be very conserva- tive in their operations.
 The foreign exchange market slipped back yesterday, and this was regarded as refleeting less apprehension over af- fairs in Russia.
 Shelters was busy again yesterday making a new high record and the speculative interest placed buying or ders for 25,O00 shares with the specialist 1.-The largest in this stock yet.
 New York Central rights to the new stock, which is offered at par, sold at 5 1-2 and 3-4 on the curb yesterday. The old stock was firm, but did not show any aggressive advance. The news had been pretty we'll discounted. Much of the absorption of this stock recently is claimed to have been by insiders.
 Anaconda made a gain and Boston was bullish on 1t. Boston bought the active copper stocks again yesterday.
 Some of the exchange houses credited the report that the Kansas and Texas ,,,J.1 't.o sY1k