The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-03-03
STOCK MARKET FEATURES
UPWARD SOARING OF COAST
LINE, L. AND N. AND SUGAR.

U. p. Resting AwhiIe-S. p. AIsO--Erie's
Continued Activity-Southern Rail-
way-Continued Demand for Good
Bonds-Other Gossip.
Steel common was active and higher,
Indicative of some belief in the story
that the stock will cross 40 soon. Lon
don took "a good deal of the Steel stocks.
The reports of continded prosperity in
the iron and steel trade continue.
The behavior of New York Central
and Union Pacific was regarded by
some as showing that liquidation by
the operators who put them up was ap-
perently still going on. Union Pacific,
during the early part of the day, failed
to get as high as it did no the London
exchange before the local opening.
The advance in Pennsylvania and the
Philadelphia buying was due to state
ments that the January net would
show an increase of s1,000,0O0. The
actual gain was s915, 1000, with gross
increase OF over $l,b0U,OU0
The concurrent rise of Louisville and
Nashville and Atlantic coast line was
followed by a rumor that the dividend
on Louisville is to be increased still
further. Coast Line had big rise from
122 last week to 1877 ga yesterday 1t
fell back to 1876 IL at the close. Quite
a number in this city were fortunate
participants in the rise
The leading motive in advancing
Louisville and Nashville was that it
had not had the rise Of other high
grade stocks, and that it was slow COM
pared with shares paying the same rate
Of dividend. t
Consolidated Gas made another squirt
yesterday toward the goal laid out for
it, and the price at which it sold last
year, 22O, moving quite in harmony
with what has been gathered from the
aspect Of things from political view
point. 49,
The activity and advances in the At
lantic Coast line and Louisville and
Nashville continued and 1t was said
that the buying was good 1t was
said the principal buying orders have
come from J. P Morgan & Co. A prom
inent firm which recently operated very
successfully in the Hartman stocks has
been a large buyer of both Atlantic
Coast line and Louisville and Nash
vile. ~
Erie stocks continue strong. The out
look Of the road for long pull is con-
sidered fine. but in the immediate flu
ture an outlay of lots of money is
needed. The roads territory is a grow
ing one. There was some heavy trad
ing in Erie common on the rise to 48 Ia.
The short interest in Atchison, 1t is
announced, has not been covered and
frequently shows in the action Of the
stock. 1t sold at 81 on moderate trad
ing, compared with Wednesdays clos
ing Of SO Ia. IL.
Sugar was strong yesterday. 1t sells
ex-dividend to-day. No melon Is in
sight yet, according to reports. The
outburst yesterday was regarded as
purely speculative.
Morgan brokers, it is said, were again
the largest buyers of Southern Railway.
Strength in all of the members of the
Morgan group is expected until after
Mr.. Morgan arrives In London.
Peoples Gas was active and strong
w. L. Snow & Co. bought $1,000 shares,
which was called good buying.
"A good trading market is in view for
time, so experts say. Stocks will
have their ups and downs little more
than has been the case the last three
months. Reactions and sallies are due.
Buying on the slump and selling on
the bulges is urged by good observers.
The time for depositing stock in IA
yor of the voluntary reorganization of
the American Ice company, which ex-
pired Tuesday, has been extended to
March o. 1t is stated officially that a
majority of the stocks of both classes
has been deposited in favor of the plan,
already. This is usual extension of
time for the rest of the stockholders.
Japan's new loan was over-subscrib-
ed yesterday. The activity with which
it was taken surprised the Japanese
financiers. I'D. .
The good demand for railroad bonds
continues. New issues are readily alb
sorbed, and most of the older issues
record a higher level from day to day
Many of the latter now seldom appear
IN the market and when available are
eagerly purchased by investors.
IA price of 100 to 1875 for Baltimore and
Ohio is now talked of by the sanguine,
OF, account of the roads prosperity
some talk of permanent level at those
figures.
Il. DENVER'S EXTENSION.
Denver, March 1.-The Denver and
Rio Grande Railroad company has just
closed a contract with Fitzpatrick Bros
If Beatrice, Neb., for the construction
e a branch line fifty-tWo miles long