The daily morning journal and courier., 1905-08-22
STOCK MARKET FEATURES THE SPECTACULAR WAs AGAIN
 IN EVIDENCE.

IN EVIDENCE.
 The Bulls Still in Charge-Heavy Trad
 ing in Readfng-siarlxet Broadening
 Cheaper Grades Taken Up-TaIk of
 Coming Increase of Stock by the
 Consolidated Railroad-Other Gossip.
 The tone of speculation was again strong yesterday.
 Spectacular advances were made in Delaware and Hudson, which rose B points, Great Northern. which gained 5, and other notable advances, were Jersey Central 1-2, Northern Pacific 3, and Northwest ? 1-2 points.
 Missouri Pacific was strong, and in the enormous corn crop of the South western states there would seem to be sufficient basis for the rise ill MOP and its allied issues after their long exhibi- tion of market backwardness.
 The story that Delaware and Hudson is earning 25 per cent. on it's stock did service again yesterday, but nothing was said about the roads exhausting its coal lands, which was the told years ago.
 Bulls in Missouri Pacific asserted that the territory covered by the Missouri Paciflv will produce more grain, acre per acre, than that covered by the Chi cago, Burlington and Quincy, and that they looked for earnings per mile later on as large as, if not larger than the Burlington's. They also pointed out that Missouri Pacific, like Louisville and Nashville and New York Central, has no common stock to share in sur plus earnings.
 All the markets showed a disposition to await the news as to peace from Portsmouth.
 A story, coming via London, circulat- ed that the Missouri, Kansas and Texas property is to be taken over by some other system. ': Good crops, a larger movement of grain, both present and prospective, a heavy tonnage in merchandise, most healthy feeling in business circles, and a cutting of railway rates on grains from the west and southwest, are the features of western traffic conditions.
 Northern Pacific made a new high record. The Northwestern telegraphers' strike is now off. It never had much effect on the market.
 Reading was very strong again yes- terday and the bulls in the stock claim 1t is going to reach 125. A number of traders are credited with having ac- quired independent fortunes by solely following this stock in the past six months. They bought it on the re- sessions and "pyramided." About par they took profits,
 The buying of Pennsylvania started with rather heavy absorption by firm with Philadelphia connections. This was attributed to the syndicate that wants to market the convertfbles. # Conditions in eastbound railroadGter4 ritory are more favorable for traffic than the railroads have experienced for months.
 Central Leather shares, which have supplanted the Canton Land company of Baltimore as "C. L." on the ticker tape, have been moderately active late ly. They are still far behind United States Leather. the old speculative favorite whose place they took.
 The rise in Reading is attributed to pool operators. The stock is absolutely under the control of the clique which is operating it.
 H. V. Jones of Watson & Co., esti- mates the wheat harvest of the United States as follows: Winter wheat, 37O,- 000000 bushels; spring wheat, 242,OOO,0O0 bushels: macaroni wheat, 100000 bushels. Total, 624,000,OOO bushels.
 The knowledge that Reading has some 120,000 acres of anthracite lands and that the territory containing hard coal is exceedingly limited has made many friends for Reading stock, This Knowledge was common talk during the several receiverships that Reading has been through.
 Announcement was made from Bos- ton that the New Haven road contem- plates an issue of about $20,000,000 of new stock to pay for the Improvements mapped out for the ensuing year.
 This new issue of stock is'to be made during the next year and will give te present stockholders some valuable rights.
 President c. S. Mellen of the New Haven road was out of the city yes terday, being at his Stockbridge, Mass. home, and no information regarding the matter could be secured at the genera offices of the road.
 The reason for the $2o,OOO0Oo stock is. sue is owing to the fact that future large improvements such as electrify. ing the New York division, cannot be met ont of the general earnings of the