The daily morning journal and courier., 1905-02-28
STOCK MARKET FEATURES
ANOTHER DAY OF BIG DEALINGS
 YESTERDAY,

Nearly 100000 Shares of S. P. Traded in Steel Common Higher Again-The Backward Gould Stocks-The Money Marlzet--Talk of Tighter Money Bulls and Bears.
 Another big day yesterday. Europe opened with a higher range of prices and enormous buying of Union Pacific, Southern Pacific, Pennsylvania, Steel common and New York Central follow. Then came enormous liquidations and some considerable reaction. But the bulls got under the market again, and again prices shot upward. Union Paci- fic reached 13s 3-4, Pennsylvania 1s4 S-4, New York Central 161. In the after noon the granger group grew strong again and Southern Pacific shot up to P 3-S closing at 72, with net gain of 5-8. New York Central closed with a net loss of one point. Steel common ran up to 35 1-2, closing at S5 1-4, a net gain of 5-8.
 If the Gould stocks are to share market attention the opinion seems to be that Missouri Pacific may be the most active, but that Texas Pacific will be the most buoyart.
 Baltimore and Ohio advanced point on announcement of the ordering of $13,000,000 of equipment. zs.. < The advance in Steel common above 35 was one of the most popular achievements of the market. It was heavily bought by speculative houses who dealt in 10000 to 20,0O0 shares of it There was no special basis for the rise beyond the general known buoyant con dition of the trade, but talk of re- sumption of dividends was heard
 Ontario and Western was heavy yes- terday, the talk being that inside in terests had accumulated all they want at present. z The January net loss of the Atchison, amounting to. S23S,964, was also wholly caused by an increase in operating ex- penses. The net income of the com pany since July 1 is $2,227.655. t:+& During the rise in Southern Pacific
 
 with 100000 shares of it quoted in ten minutes time. The sales to ? o'clock were 3e0,0O0 shares. The total sales of the day were 393,700 shares.
 According to the Journal of Com- merce papers filed for new companies in the eastern states for February, with 3 capital of s1,0oO,0 GOO or over, represent ed total capitalization of s96,6O0, 900. This is d decrease of ST, ,600,000 as com pared with January.
 The total sales of the day of all stocks was 7,Ss0250. s
 Commission houses reported a more active public interest in the market, but in proportion to the trading it was admitted that the outside demand was disappointing. The big trading was by stock exchange houses that operate for pools and 3cliques. h
 The effect of activity and rapidly ad- vancing prices in stocks on the money market was seen yesterday in a finer tone for both call loans and fixed date x funds. Nearly all the business on call was at 3 per cent. The payments for the Southern Pacific bonds, of course, also had some influence, but these were conducted so skilfully that the trans fers were made with comparatively lit tie effect. A feature of the time money market was the demand for six and nine months, showing that brokers were killing to take over enlarged com mitments in anticipation of the prolon- gation of the, current bull movement.
 Bankers are looking for g general hardening in rates the next five weeks, and if the stock market continues on the basis of 1,5000oo shares a day they would not be surprised to see loans at 1-2 to 5 per cent before April H. . Another, view. of the money market entertained was that money would be easy for months to cone.&
 A prominent New Haven banker was not inclined to accept the theory an nounced in Wall street that money would continue easy for months more. He said the money market might tighten up very soon; also that it is surprising how quickly the money market tightens all of a sudden.
 A New Orleans press dispatch says: The Illinois Central Railroad company announced to-day that as soon as the ruins cool, forces will be put to work to clear away the debris and the Stuyve- sant docks and elevators will be promptly rebuilt on a more complete and substantial scale than before. Meanwhile officials of the road began to-day the formulation of plans to handle the traffic now on its way thith- ser from the west, so as to avoid any material diversion of freight from this city. Careful estimates figure the in- 5 mediate loss by the fire at s5,000,000. 5 Illinois Central stock weakened yester- day, but support was soon forthcoming.
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