The daily morning journal and courier., 1905-04-07
STOCK MARKET FEATURES
4 TUOYANT MARKET WITH
 STEELS ASCENDANT.

Call Money Was at Per Cent.-But
 Stocks Didn't nrind-U. s. Steel Pre-
 ferred EcIipsed Its Highest Previous
 Record-Big Realizing but Market ! Wasn't shaken-The IndustriaIs Led
 the Procession.
 Stocks assumed a buoyant condition yesterday. First there was enthusiasm in the industrial group and this spread finally to the railroad stocks. There was big and broader market. On the advance there was realizing and profit taking, which caused but a triaing set back. The market took the stocks Of fered well. The great feature of the market was the United States Steel stocks, more particularly the preferred, which passed the high record of 1O1 7-S on April 30, 1901, and sold as high as 102 S-8. In the past Steel preferred has always been regarded as a popular leader, and the manner in which the market followed the stock yesterday shows clearly that it has lost none of it's popularity.
 In the past seven market sessions in- dustrial shares have average over four points gain and railroads about point. This illustrates the recent change in speculative sentiment.
 In the last hour stocks generally re- acted under heavy profit-taking sales, but nevertheless final prices were, for most active issues. considerably above Wednesday, Atchison wasa firm feature during the afternoon. The talent were guessing that Atehison was to be &C., quired by the Union Pacific, but the real inside of the Hartman plans in connection with Union Pacific is yet a mystery in Wall street.
 Wolf Brothers were again large sell CTS of Rock Island. They have put out 15,000 shares of it since Tuesday.
 A seat on the New York stock ex- change sold yesterday at $81,500, as compared with $SS,OOO, the price of the last previous sale. This was attributed to the passage of the stock tax transfer bill, which is now expected to become a law. .,r..-., ...,.
 Locomotive, Car Foundry, Cast Iron Pipe, Pressed Steel, Railway Steel Spring, and the, smelling group were among the favorites, some of them reaching new records for the year.
 New York and New Haven stock at 202 3-4 in Boston yesterday. Copper Range and United States Mining were also strong there.
 Profit-taking throughout the list was enormous, but in spite of it, the SUD- ply was well taken, and there were few instances where the liquidation pro- duced weakness.
 It was again the opening that United States Steel shares were being "digest- ed' Steel common is yet far and away from it's high record. It stood at 55 on April 30, 1904. A little over 153 ,OOC shares of Steel preferred were dealt in yesterday; of the common 116,400
 SteePs rise to 102 3-8 was accomplish ed in spite of the enormous offerings on the advance. Both at par and at 102 the supply of long stock that came out was sufficient to check any ordi- nary movement, but it was taken with out causing any material setback.
 Although five weeks will elapse be- fore the treasury will make the first withdrawal of funds, the demand upon the banks for $27,00O,00o of public de- posits is not likely to inconvenience them seriously.
 Inside buying in International Paper preferred continued. much of it being of an investment character.
 ~e q produced the impression that the com pany will be associated with the Union Pacific in working out new transporta- ton conditions west of Chicago.
 A San Francisco dispatch says: The Southern Pacific is to have another eastern outlet from Los Angeles, by which it proposes to secure quicker ser- vice for fruit transportation, and to overcome the excessive Hagen trade, The Nevada and California Railroad company has been incorporated with a capital stock of $15,O00,O0O
 It is the opinion of one Of the most active commission houses that the Steel stocks and Amalgamated Copper will lead the market in future bull movements. ,,.
 In Unlon Facltlc there are both good and poor buying, but the stock acted as if inside support were ready in case of need.
 Few features in the progress of St. Louis Southwesterns earnings are being overlooked in the effort to stim- ulate interest in the stocks of the com- pany, the preferred of which is being treated to a good deal of dividend talk.
 New high records were made yester- day by American Locomotive, Ameri- can Smelting common and preferred, Federal Smelling and Mining preferred, Glover Leaf common and preferred, United States Cast Iron Pipe common and preferred and United States Steel preferred. :g
 Interest in the government crop re- port due Monday, the 10th, is growing