The daily morning journal and courier., 1906-03-02
STOCK MARKET FEATURES
4 DISTINCTLY BETTER TONE BUT
 HALTING AND UNEASY.

Some Good Buying on the Break-The
 Money Question - Colorado South
 ern's DivIdend-The Met Merger
 DistilIers' Rise--Most News Was Fa-
 VorabIe.
 Yesterdays stock market behaved much better than Wednesdays, and the uneasy ones began to breathe little freer
 An attempt to raid the market again was made in the afternoon, but as few stocks were dislodged prices rallied again.
 To some, however, it was considered as only a full in the storm.
 The market finally closed with snap and strength.
 The money question predominates. There has been a reduction of loans, but perhaps not enough to fully help out the bank statement for Saturday, The loss of the banks to the United States sub treasury is about $5,6O0000 This is a new factor in the situation. The secretary of the treasury cannot be expected to take radical steps in the case, especially fin the case of a spring money pinch, with the government ab- sorbing funds daily.
 The low average of twelve industrial stocks during the end of January break was 9S.94 and in twenty railroad stocks 13355. The same stocks on Wednesday were at 9S.94 and 129.56, respectively.
 Directors of the Colorado Southern declared yesterday a dividend of per cent. on $S,500,000 preferred stock The dividend was passed in October, 1904. During 1904 ? per cent. was paid; in 1903, 4 per cent; in 1902, S1s per cent; 1901, 319 1900, per cent.
 The rapid advance in the traction shares was caused by the heavy deposit of securities for the merger. It was privately announced early in the day that sufficient stock had been secured to make the plan operative.
 Interest charges for February sent out yesterday ran from to 51a per cent, compared with to S1a in January and F to IS in December
 Consolidated Gas showed early weak ness on belief that the senate would pass the eighty-cent gas bill. But the offerings of stock were well taken, and | the price rallied somewhat in the after noon.
 A good many Metropolitan stockhold- | CTS turned in their stock on the idea that the outlook for Metropolitan Street Railroad could not be much worse, and that there was a bare possibility of under the new arrange ment.
 Yesterdays decline in Amalgamated Copper was directly traceable to the liquidation of foreign holders who took part in the Div movements of the last month
 Attention was called to the earnings of the Reading company for the seven completed months of the current fiscal year. These showed an increase in net of sS2374 for all companies. Surplus in- creased $19O 9S5. A year ago the gain in net was $l,S53, ,4S5 and in surplus $1 1,991,- 7S2. The coal properties show gain in net this year of only $S6156, against $954,CJ0 year ago.
 The houses that sold quarter of a million shares in the aggregate Tuesday and Wednesday were among those that bought back on moderate scale yes- terday.
 When call money touched per cent brokers went scurrying around among the banks to secure ninety-day loans Bids of per cent, flat were made and Nest four and six months money was put out at 5A@51aper cent.
 The rise in Distillers Securities on buying by J. s. Bache & Co. and Ed ward Sweet & Go. reflected the Wash lngton intimations that the committee report will be favorable to placing alco- hol on the free list As is often the case, the operators and influential people who took the stocks which came out on the decline lid not make any effort to bid up prices, put they wished to secure them as ,heaply as possible. There is reason to believe that much of the buying was of ln excellent character Most of the days news was favora- ole. Wheat fell to the lowest level of he year and has now quite fully shown hat the trade does not believe the re- ports of crop failure.
 PFNNSYT TNANTA'S RIG YEAR