The daily morning journal and courier., 1905-02-23
STOCK MARKET NOTES.
LONDON MARKET WAS ACTIVE
 AND BUoYANT.
Ontario and Western Was Buoyant- Union Pacific AIsO-The Foreign sIarkets-Inereased Public Interest," The Big Demand for Bonds.

Markets-Inereased Public Interest
 The Big Demand for Bonds.
 A London dispatch last night says: Money was in good request in the mar ket to-day and the movements were considerable. owing to various calls Trading on the stock exchange was an imated and buoyant though contangos restricted business somewhat. Consois were in active demand, but receded from the highest quotation on reallza- tion. Home Rails were firm on Soou traffic returns. Americans were hrm in sympathy with the general tendency and were moderately active despite the holiday in New York. New York, on tario and Western, and Union Pacific were again buoyant. The market clos ed quiet. Japanese monopolized atten- ton among foreigners at substantial advances especially fours, which were 2 3-4 higher. Imperial Japanese gov ernment sixes of 1904 were quoted at 1O4. Kaffirs were firm and fairly ac- tive. Bullion amounting to 1S0,0O0 pounds was taken into the Bank of England to-day, and the sum of 6O,0OO pounds was withdrawn for shipment to South America.
 Paris-Trading at the Bourse to-day opened calm, but prices became feeble. The peace reports did not exert any Influence, but unfavorable advices re- garding the internal conditions in Rus sia further depressed Russian securi- ties and caused general weakness. At the close prices were heavy. Russian imperial fours were quoted at 90.9o and Russian bonds of 1904 at 505.OO. Three per cent. rentes were 99 francs 97 1-2 centimes for the account.
 Berlin-On the Bourse to-day prices in most of the departments were lower. Americans were higher. Exchange on London were 20 marsk 50 pfennigs for checks. Discount rates were: Short bills, IA per cent, three months bills, l 7-S per cent. 4t ..-.....
 It is said that there has been enough long stock sold above 130 by speculat- i've followers of the movement having enormous profits in their holdings to cause a. setback under any ordinary conditions of or points.
 
 It has helped the railroads wonderfully which had bonds to place. This is true of the Chicago as well as the New York market.
 A Chicago dispatch last night says: The local demand for bonds is in a no more satisfied condition than at any time since the beginning of the year. The $1,800,000 four per cent. Chicago Junction railroad bonds, which N. w. Harris & Co., bought at 9917, are be- : ing sold by the same firm at 101 and over $700,000 of the issue has been dis posed of. The price paid by the firm was evidence of the scarcity of high grade securities, demand considered.
 Union Pacific sells ex-dividend of two per cent. to-day.
 All exchanges throughout the United States were closed yesterday in com memoration of Washington's birthday
 In London yesterday Atchison, Can adian Pacific and Erie were each up seven-eighths; New York Central and Pennsylvania were each up an eighth, Steel common three-eighths, Steel pre- fered half, no U, P. change. St. Paul was up a quarter. .#
 The initiative or leadership that has been asserted this week in various low priced stocks, railroads and industrials, in which there is some general specu- lative interest, has already created g. good deal of outside business. Commis- sion houses were more active Tuesday, perhaps, than at any previous time sisice the December break, and the general speculation broadened accord ihgly. -.. IT WAS A GATES DEALT. c. IFS
 ABSORPTION. New York, Feb. 22.-John w. Gates and Joseph H. Hoadley of Information al Power fame have according to the statements of their friends, worked in the Tennessee Coal and Iron company another deal like that involved in the Louisville and Nashville transaction. Their friends say they have wrested control of T. C.. I. from President John T. woodward of the Hanover National bank, Cord Meyer, Benjamin F. Tracy an the rest of the Hanover bank group"
 Tn reason for this wrestling of con trol of the $225oO,0oO Tennessee Coal and Iron company from it's old owners is understood to have been that it was wanted for the purposes of a combina- tion with the Sloss-Sheffield Steel and Iron company, the Alabama Consolidat- ed Coal and Iron company, already owned by Messrs. Gates and Hoadley, and the International Power company, as well as the pioneer plant of the Re- public Iron and Steel company, the Alabama Steel and Wire company and other like concerns near Birmingham, Ala, with capitalization running well on to $75,000,O00. Huge purchases of Tennesee Coal and Iron stock have been under way for ten days or more, and yesterday on the stock exchange about 91,000 shares were traded in at ssbsfterf than any kaEcrm powdsr@a6A4 ssS. - E3 #