The daily morning journal and courier., 1905-02-22
STOCK MARKET FEATURES
THE CONTINUED ACTIVITY AND .~G< STR ENGTH.
Discussion on How Long it Will Con- tinue-Unfon Pacific Scars Some More-The Slow Stocks Soar Again Commission House Business Increases Ontario and Western, Southern Pa- ciflc and Missouri Pacific.

cff1c and Missouri Pacihc.
 Everyone interested in stocks is won- dering how long the rise in prices is to continue. First one stock is advanced and then another. Opinions differ. One deyotee of the market is convinced that there will be no serious decline until the next presidential year. He sees no panic ahead. Another critic of note thinks prices have run up to a dizzy heigth in many cases. He looks for a tightening of the money market one of these days. Then, we don't know what this years crops will be. There are many things that might happen to shake the market. But just now things look rosy.
 Hopes of a splurge in Amalgamated Copper will not down, and to keep up the courage of the bulls the per cent. dividend talk is being resumed. All the same, there are plenty of shorts, it is said, yet in Copper, and people who won't buy the stock now will, it is said, scramble for it in the sos.
 Reading was alive and higher again yesterday, and 175,ooo shares were trad ed in. sss. 7. s%.~s
 Missouri Pacific, it is said in some quarters, is the hardest stock to bull of any the bulls have tackled The price Is better on the showing that it can stand the new charges with it's ample earnings, but as yet 1t bulls hard.
 SIoss- Sheffield scored an advance in: early trading of more than sensational proportions, as that term is usually ap- piled, opening up about 10 points and making further gains. The persistent talk of a combine" is what did it.
 A prominent Republic Steel director Is quoted as saying that his vote will be for no resumption of dividends.
 Standard Oil was again the feature of the curb trading, with an early break of 10 points to 500, ex-dividend, as re- suit of the legislative moves against the company. As usual, the offerings were light. ....-.~-.--
 The Leather company tells it's stock holders that the reorganization plan is operative, and that there will be no ex- tension of time for depositing stock aft CT March 15. @a The Lackawanna report for the year showed surplus of s2319,S71, compared with $4 4,251 ,2S9, including a 1T per cent. dividend paid.
 The sentiment in Wall street with re- spect to Southern Pacific seems to be more and more favorable every day. It looks as though there would be active trading in this stock, and that consid- erably higher prices will be reached. s. F. rather disappointed it's adherents yesterday < .+f.... ] sN s4. np \ houses will remain open to-day, as an active market in our stocks in London is anticipated.
 Ontario and Westerns continued rise was thought to be based on the theory that New York Central is absorbing it. but there is no evidence of this at pres ert.
 Union Pacific was a card again yes- terday soaring to 134. Some enormous blocks came out, quite a number being 10000 shares each. With the present market valuation and the present divi- dend rate, Union Pacific stock returns 3 per cent. to the investor. Apparently a good deal of "discounting" of what ever may hereafter happen has been done already.
 The bankers who bought out the Southern Pacific refunding bonds have called payment for next Monday. This will involve about S75, 5,000,000.
 The activity recently in Union Pacific, Steel, Copper and Erie has attracted a larger public following to the market than it has had since December. Com mission business was better than it had been in some weeks, and there was evil dence that the broadening of the mar ket had attracted part of the public to