The daily morning journal and courier., 1906-02-27
STOCK MARKET FEATURES
BULLS IN THE LEAD AND RALLY
 PRICES.
Though Con. Gas SIumped Heavily the Rest of the Stocks Were Very Strong Gossip of the Day.

Though Con. Gas Slumped Heavily the
 Rest of the Stocks Were Very Strong
 Gossip of the Day.
 The stock market after hesitating at the start yesterday gathered strength and prices shot up at lively rate dur ing the afternoon.
 This was despite the continuous weakness of Consolidated Gas, which is now 50 points below the high figure of a year or two ago, when the melon- cutting tip was talked of so nicely.
 A good deal of out-of-town money was offered in Wall street yesterday at 1-2 per cent. for sixty and ninety days. The market for six months money was governed by a IA per cent. rate, although considerable money was put out for 5 per cent. As high as 1-2 per cent. was paid for some six months money where industrial secur- ities predominated in the collateral
 The undertone of the market was pretty strong all day.
 Late in the day the very favorable talk that prospects, of a coal strike were waning, qulckened the market in- to higher prices.
 Better news from Algeciras helped prices.
 The street had quite a sensation at the news of the withdrawal of the members of Kuhn, Loeb & Go, from railroad directorates. This, however, led rather to increased activity and strength in Union Pacific, when the op- posite might be expected. On all sides the remark was heard that the buying was of a good character, and that it was based on the belief that substantial rewards to stockholders were impend- ing. The stock is moving independent of the rest of the list, hvng had gain of points since ex-dividend.
 The old pool in Reading got in lit tie work yesterday.
 Consolidated Gas dropped to 158, it's lowest price in over ten years. It has selling was urgent on the idea that with 80 cent gas, 8 per cent. dividens could not be kept up.
 It was urged that as a per cent stock Consolidated Gas ought to sell below 150. To some observers, how ever, the decline of Consolidated Gas looked like political drive.
 Another advance of Is per cent in crude copper did not have much effect on the copper stocks. In these times frequent advances in a raw product are regarded by speculative interests as de- signed to help the unloading of se- curities; one firm bought 10000 shares of Southern railroad common.
 The Kuhn, Loeb & Go. episode was generally regarded as the beginning of a movement which would emphasize the distinction between borrower and lender in Wall street. Other large banking interests are expected to fol- low suit.
 Shelters common dividend remains on z per cent basis.
 The price of stocks are high enough, but manipulation can send them high CT Wall street fosters the idea that stocks can never go down again.
 The United States Steel corporation is doing better business than ever be- fore. The March quarters net earnings Of the latter will be about $36, 00O compared with the December total of over $35,0OO,OOO. Orders on hand now are above S,0OO,OOo tons.
 John w. Gates is back from the South talking bullishly on the Union Pacific and Steel stocks, and predicting an- other big wheat crop.