The daily morning journal and courier., 1906-04-04
STOCK MARKET FEATURES
MORE BRILLIANT RETURN OF EARNINGS BY RAILROADS. ss s


 Firmness Was Prevalent, Con. Gas Ex-
 cepted--StrOng Support of Market
 Evident--Coppers Very BuOyant--
 ing UT Abroad--Local Money Higher. The stock market held very firm yes- terday, all excepting Consolidated Gas, which made a new low record. The signing of the eighty-cent gas bill was the signal for renewed attack upon it.. It fell to 137%, then rallied a point or two, Four per cent. dividends are still talked of in place of per cent. The fear of coming heavy cut by the di- rectors in the dividend rate has been operating toward forcing large invest ment holdings of the shares on the market.
 More splendid earnings were reported by various railroads. The Pennsylva- mia led all others with gains on its east ern lines of 2,216,OOO gross and $1,139OOO net The western lines increased $S76,- 900 gross and $257,0 net. The South ern and Northern Pacific ranked next in importance. The former increased $1,419,0OO gross and $622 ,O0O net, and the latter $9O6,OO0 gross and $3S9,000 net. Smaller systems did proportionately as well, and the Mexican roads for the year 1905 showed good gains.
 Discounts again declined at London, Paris and Berlin, and predictions were heard that within a week or two there would be a reduction in the Bank of England rate. The further easing up abroad was regarded with much signi- ficence, as the Russian loan is expected to be floated soon after Easter, and this will probably be followed by French, German and British loans.
 Consolidated Gas, during the first three hours yesterday, was dealt in to the extent of about 42,000 shares, which is unprecedented for this issue.
 Money in Wall street ran up from 6 per cent. to as high as 12 per cent, but easier money is soon expected.
 There was very favorable news as to tie crop prospects,
 The tips out to buy Missouri Pacific worked all right at the start, and Mis- souri Pacific shot up only to fall in- gloriously back again a point or two.
 Accompanying the heavy buying of Amalgamated were further rumors of an increased dividend on April 19.
 The street was perplexed in itC efforts to follow" the coalers. Some thought there would be long strike, others a be no strike at all.
 The February earnings of Union Pa- cific and Southern Pacific are the larg- est of any February in the history of either company.
 Reading was inclined to softness in the late afternoon, but the market in general continued to present very one of the features.
 Yesterdays market bore the ''un- loading" process fairly well. and by no means all the changes were declines Reading was the weakest spot, the cop- per shares the strongest,
 Amalgamated sold above 113 on heavy dealings, and predictions were made on the floor that the present movement will carry this stock well above the high figure of 11SA that 1t touched on February 13 last.
 It was pointed out that Union Pacific by midday had risen to within point of It's high record, not allowing for the 8 per cent. semi-annual dividend which came off few days ago. Friends of this stock were predicting very high prices, if the general market continues to expand.
 Not much was heard in the way of coal-strike talk, no important results having been looked for at yesterdays S anthracite conference, Late in the ses- sion news came of the adjournment un- til tomorrow and the coal stocks fell off a trife