The daily morning journal and courier., 1905-02-18
STOCK MARKET FEATURES
FIRST BULL POOL IN COTTON
 FOB MANY WEEKS.

March Option Rose 16 POInts-SOme of
 the Strong StOcks-GOssip Says
 Strong Market to Continue and SteeIs
 Will Go Higher; Also Eries-TO-day's
 Bank Statement The Look Out
 Abroad.
 Indications of the first bull pool in cotton since the failure of Daniel J. Sully on March IS, 1903, were had yes terday, when the March option rose 16 points, to 7.57. This put it points above May, and on parity with July, which is something out of the ordinary. According to the best judges of the sit uation, houses like J. H. Parker x Co. and Ellinger Brothers & Co. have been for some time past accommodating long line of March, presumably for New Or leans account. It is a known fact that William P. Brown and Frank B. Hayne, the prominent southern opera tors, have been bullish and have been advising the farmers to hold for ten cent cotton, besides assisting them financially.
 Allis Chalmers Rubber Goods, United States Rubber and Virginia-C Carolina Chemical were very firm during most of the day. This buying appeared to have been part of a general plan to mark up certain specialties in order to support the general list.
 Fries cash on hand on December S1 showed an increase of $6,550, ,000.
 New York's banks this week report a loss of $5,S41,00O in cash, entirely due to the gold remittances to Cuba. Two banks sent $4,O00,00O and $2,000,000, re- spectiveIy, and during the week $500,OO went to South America in coin.
 The news that the Pennsylvania would spend $2S,Oo0,0O0 in equipment this year had apparently. been discount ed in recent movements in the equip ment shares. s,A -s.
 Fries strength was an important aid to the market in the opening hour, when it was struggling with liquidat- ing sales by London and local profes- sional selling.s The buying from the first was classed as "good."
 Good Wall street judges think that the market will hold for some time and that reactions are to be expected and therefore to be guarded against, but heavy liquidation such as there must be to force any important declines in prices does not seem at all likely.
 There was further covering by the big shorts who have been carrying over accounts from the time of the Lawson raid"
 Apart from purely speculative consid- erations, many we'll informed people re- gard the, further advance of Erie as reasonable, in view of the wish to give the stock a good appearance, the bond conversion being in mind.
 Union Pacific went skyward again yesterday, reaching. a new high record 1251s. One exuberant Wall street bull was quoted yesterday as of the belief that the stock was good for 200-not this week or this season, however. The rise was connected with the jump of Az points in Northern Securities and the advance in Great Northern preferred to 280. Talk of putting Union Pacific on a 6 per cent. bases was heard. But the next dividend period is six months away.
 Wall street gossip is that the Steels will go higher owing to the continued good outlook for business for the steel and iron companies.
 A Paris dispatch last evening says: The tone on the Bourse to-day was firm and prices were tending upward except in the case of Russians, which were heavy. Russian imperial 4s were quot ed at 92.40 and Russian bonds of 1904 at 5090G. ~
 London said last night: Money was in strong demand to-day, as the mar ket had to meet a call of upward of S5000,000 on the Irish land loan. Dis counts were steady. The steamer Him. alaya has landed at Plymouth $5,9O5, ,04O in bullion, including $500O,000 from h. di.
 The heavy selling of London realty had it's origin in the assassination of the Grand Duke Sergius, which caused 9 general reaction in the English mar ket and also exerted an unfavorable in- f1uence on the continental Bourses. The event was regarded as delaying peace prospects,. Notwithstanding this, the monetary situation abroad was as fa- vorable as ever.
 The New York and New Jersey Te1e- phone company. considerable of which stock is held here, reports for the year ending December 31 a surplus, after fixed charges, taxes and dividends, of $514,S63, an increase of $76945.
 Owing, no doubt to congressional in- vestigation, Standard Oil stock was weak on the curb, there being no buyers until the price had declined nine points, to 635. At that figure ten shares were sold.
 The Wall street authorities found it rather difficult yesterday to figure out just what sort of a showing the bank statement would make to-day.
 Wall street professes to be confident that the Republic Iron and Steel com- pany will shortly resume dividends on its preferred stock and the amount to be declared will be at least per cent, and more than likely per cent, to full 1y reimburse the preferred stockholders for the non-payment of dividends for the past five quarters.
 MISSOURI PACIFIC NEW BONDS
 MOSTLY SOLD ABROAD.
 New York, Feb. 1.-The Missouri Pacific Railroad company has issued s25,0O0,000 of 4 per cent. collateral trust H. Izry Ss4 1J~