The daily morning journal and courier., 1906-02-28
FESTERDAK's STOCK MARAET
Dealings Rather Limited and Highly
 Professional.


 New York, Feb 27.-The reversal in the direction of prices to-day from that of yesterday does not alter the fact that the stock market was closely similar in character to that of yesterday. The dealings were highly professional and rather limited in scope and develop ments having any actual bearing on values had very little to do with the operations. The retracing to-day of the course of yesterday seemed to be
 largely due to the fact that the avail able limits of the upward movement were reached so far as professional op- orators dared to carry them. There was some further advance in the early deal irgs to-day, but this was taken advant- age of by yesterdays buyers to sell stock, Sentiment showed itself more affected to-day by sympathy with the depression of the New York public util- ities. The local traction group joined the recent declining tendency in Consolid2t- ed Gas, presumably on the appreheh- sion that the public service corpora tions might be subjected to measures of regulation similar to the restriction of the price of gas in New York city to 80 cents. Consolidated Gas itself show ed evidence of support at the further decline and rallied with some strength, the demand from an uncovered short interest helping to that result The news regarding prospects for the settle ment of the labor controversy in the coal trade was even more hopeful than that of yesterday, Reading, however, failed to hold it's advantage on that score and shared in the general de- cline. The Hill railroad stocks were conspicuously weak and moved very widely on the decline. as Is usual With these closely held stocks whether the movement be upward or downward. Their notable influence on sentiment which has been on the side of advance ing prices for long time, was a cor l responding effect on the side of depres- sion to-day. Many rumors circulated of an alleged hitch in the much discussed plan for the sale of ore lands to the United States Steel corporation The price of couper was raised another frac- tion in this market witho utavailing to hold Amalgamated against tile down. ward tide of the market. This may have been due in part to the fact that the price of copper yielded in London, in spite of the marking up of the price here. The continued liquidation of Kaffir stocks in rhe London market had a disturbing effect in various for eigr markets, which was aggravated by the continued, anxiety over tae outcome of the Algeciras conference Interest vas shown in the reported intention to close up the international mercantile marine underwriting syndicate, which has been extended from time to time to allow the marketing of the bonds, but which are to be distributed to the sym dlcate members at a loss on the under writing estimated on the present mark ct value of the securities at P per cent. TGle continued strength of the Wabash issue n face of the general weakness was due to rumors of a refundj-g bond i-sue and of an alleged plan for an out let to New York. The closing tone was weak and at conspicuous losses for tho day.
 Bonds were irregular. Total sales par value, S3,51Gn90.
 United States 3s and old As advanced IA per cent. on call and the new 4s de- clined IA per cent. on call.