The daily morning journal and courier., 1905-05-25
BetIer-EYerythIng Rosy.

NAc oHnshNheu Out-Stees bohnS
 Better-EvcTyIhIng Rosy.
 The market rallied vigorously yester- day from its slump. and apathy was succeeded by activity and pessimism by optimism.
 Bull points cropped out at a lively rate, such as the well-worn stories of an increase of the dividends on Balti- more and Ohio and Norfolk and Vest ern, but chiefly report that good prog ress had been made in solving the northwestern railroad situation through conferences of leading interests. An other foctor tending to bullishness was the renewal of strength in the Steel stocks, growing out of the renewed faith that the situation of the iron and steel industry is better than was indi- cated by last weeks reports. It is known, as was well known before the slump, that the leading steel companies have orders enough now to last the year through.
 A leading operator sold 15.000 shares of Union Pacific and 2O,0.0 shares of other stocks around midday, but this did not cause much of setback in prices at the time. Some thought it was intended to induce selling by oth- ers-short selling, perhaps.
 May corn yesterday sold higher than since 1902 Some of the northwestern crowd are believed to have made large profits in it.
 The heavy buying of Southern Pacific by London revived talk about an early dividend on the common. ...
 Steel common and Rock Island com mon sold at about a parity, and traders thought there was about as good specu- latiye opportunity in the one as in the other. s-
 The comment was made by brokers that it was easier to sell than to buy stocks 5@ ..4 ,@:
 The bidding up of Northern Pacific and subsidiary stocks of that company was viewed with distrust. Many times during the last year the same thing has occurred when insiders or others were distributing other stocks
 The Fries were up again and infiu- enced by talk of a dividend on the sec ond preferred and accumulation of the common by important interests
 The Iron Age in it's weekly review gave much more cheerful account of iron trade conditions than Wall street had been expecting
 Efforts made to check the advance in Union Pacific failed. The tip to buy the stock was around early, and about noon positive statements were made that the war between the northwestern interests had been settled. Union Pa cific had then sold above 118. It passed 120 before the close. The good buying of the stock during the past week seemed finally to be realized by the short interest.
 One ground alleged for the hysterical rise in corn prices is that one set of speculators has caught another set short, and is squeezing" them.
 The sharp advance in the United States Steel shares proved how far the short interest in them had increased since the last rally of consequence oc- cured. It appeared easier to put up the preferred than the common, though the commitments in the former are be- lieved to be the larger of the two.
 Another factor yesterday that stood for bullishness was that the Equitable row is soon to be settled, and that the company will show up finely.
 The room had it that there was Stan dard oil buying in St. Paul and other stocks, particularly Union Pacific and the Steel shares. Houses with suspect ed connections with 26 Broadway were fairly heavy buyers.