Show BULL ARGUMENTS BUT STOCKS LAG Trading Light In Spite of Encouraging Encouraging En En- coura ing Reports Reports AId Aidrich Aid Aid- rich Bill Bi Pleasing Now ow York Feb 21 Under 21 Under Under the tho Influence ajl of or which ence of Qt would Ic e d d s' s great bull bul arguments ments un under under- cr i er-i ordinary circumstances the stock market was heavy hen henaU all aU day to today today today to- to of or f few fow w wa day and with wih the tile exception a figures The he day a closed at bot strong strong- stocks tocks were Anaconda Canadian Pacific and Un Union on Pacific Reading RendIng and Steel were conspicuous 10 for the weakness wol- wol weak voak- ness under heavy selling orders Trading was light and consisted in but hut little more than thu tho thin evening up of oC transactions of professional traders trader On the time curb there thieve were several strong stron stocks In Iii London Anaconda and Rio REO Tinto towers of oC strength Among tho time Wall VaU street traders the tho most intense feeling prevailed Amon Among the American r really big people there thelo were wert heard expressions of con confidence in iii the future of nf the llie market and ant little concern s seemed to lo be felt over the liar liar- hearing of next week The Tho Aldrich bill b is 11 being ridiculed by persons who claim caim to toc be c exports experts on money matters malorA because e It lees docs not ilot give what lh they y believe should be t the c proper elasticity limit But inasmuch as It would be fU Impossible to 10 get bet a bill 1111 I through congress giving g what Wall Vall Wallstreet Wal street wants the tho best authorities on money say the tue Aldrich bill hiL Is Js a tro- tro bull hul argument on stocks Will 11 o They do iho not nol expert l a it better bill Il to tobe be he Ja passed 11 In a u deade c. c It I Is a a su-p su ln n the direction that thaI legislation Is wanted If It I the theory that currency reform is iM needed Is correct correct the thc Aldrich bill bi will wil Improve co conditions nH lons If I It i does docs not improve them It I will wi mean that tile the theory accepted by bankers ii Is Is- rall- rall radl- radl v ran in l llin itin Mill hill hil 1 lii hf Ii i b bV In iiD t that i- i ii if IC i it It l represents is o nl only one step tep in ln the wrong direction Hills Hill's II's despon despondent ent Interview was accepted ac nc- ac- ac by hl his friends as a sl signal to buy stock Such In Interviews ws by hy always alwa's are art The Time reported assassination of tho limo tholar czar lar and czarina czarina was sas a a depressing in- in luence but was denied Any ny political trouble In Russia result reul In II civil civi and would be bull war var a 1 bul argument on American stocks for Cor It I would drive rive gold from Crom rein Europe to tho the United States In Im use tlc Street The Th total number of shares of stock stoel sold today amounted to lo II against a n n hoU holiday a a year ago ogo The rime total par value Yalu of bonds sold soul to toay today today to- to day ay amoun amounted l t to 1 7 7 against a holiday a year ago Brokers ers say that a let lel up In iii business bustnes bust bust- ness floSs will wi be a bullish argument arg on op stocks because business men will wIl have 01 capital to In employ In la Wall t l street and 2 there will wl be money moncy available for or fin financing fn- fn iii- iii a 1 camJI n. n in lii 11 stocks Parallels are arc being drawn urn between 1 1003 1903 and anti 1907 Points of similarity are arc that railroads arc ure making enormous earnings earnings that the streel trust Is re reporting reporting re- re porting record hu business lne that the Penns Pennsylvania Penn Penn- s syl anla Railway Halway company Is Issuing IssuIng 1 a great block of bonds and stock that Wall VaI street is trying to get tho government government govern govern- men ment t to Lo deposit money In iii II the time bunks balks that stocks ae are arc talked of that new stocks and bonds arc being being Issued hawe In iii hundreds of millions that hl high h financiers finan ciers ar are sa saying the general pessimism I is not nt JI Justified b by time by-time tho facts that Lou Lon Ln London don donis on is I being blamed for AmorN i 1 dan n stocks which ns ol u n ter lJ of 0 fact riel Act are arc ol sold there b by American bankers bank rr ers to t deceive th the p public th that t liw rl 1 II I. I has haM ju Just t h been en ill HI and finally finally fin fin- Cn- Cn al ally that tho limo country Is preparing itself for Cor a presidential campaign and that the time people In general general eat al drink rink an and sleep and are arc arl otherwise c normal nori normal Selling eln of ot steel Was Wil due to the time an an- that the price of pl pig iron ha had broken 25 2 cents a ton toll The Tho difference differ differ- ence enco In n price was not so important as the fact of the tho decline dechinO The Thc Colorado and Southern have havo sold sol of or equipment trust bonds Range of ot Pr Price The The range range of or prices was as IS follows L W Close Erie 35 3 3 SO 3 33 3 Smelter pf pfd 1 13 lH 15 Smelter Smeller com HH Ii II I II 1115 National J Jad pad v. v 71 71 71 7 71 7 l Rio 1110 Grande Grand 37 3 37 SS S Am Ani Ho Loco f 37 7 73 71 i 73 73 7 So Halwa Railway 20 2614 ft 26 y Ana Aim nn C Copper Noel NOI West cst t 85 Ni 35 5 4 1 85 8 Rock Bock Island 6 26 25 2 C C. F. F and I I. I I 47 17 47 47 Tenn Term C. C an and la 1 is Rep flop Steel OS LS qs A Steel 45 SS' SS U-Ji U 4 43 4 Preferred A Ball Bait nl Ohio 12 11 1 f Colo Cob South l 35 35 35 35 3 1 Copper 1 1126 13 1 H Sugar Ini i I 13 Peoples People's Gas Gas' 03 93 11 t l tO 1 iC 93 1 i 93 9 1 K ic c C. Sou south t h. h r. r 50 8 o WJ cou B. B R. R T T. 1 73 iS 7 73 i 72 72 i Am Arn Car Fd- Fd 13 iS 43 13 3 43 W 43 i 13 St. St Sl Paul H 1451 HG HO H HI 3 Union Pacific 1724 1721 17 li li Atchison HI I J Preferred 99 90 9 M 93 f So Pacific 02 93 3 n 92 W i f f 21 Mo 10 Pacific Ki 85 82 t W Nor I Pacific acle l d I. I 1534 J lull 1 Texas 33 3 f 3 3 33 3 33 Cn Can Cami Pacific 1 fe 1 1 11 d J dies Chic Ohio 31 31 51 1 00 OhIo 1 1034 J Cl 51 fl N N. Y C Cent t 12 Out Omit Oll W est West st ll i If 11 41 41 I M. M i. i h. h and amid r T. 71 I L' L IO 70 1 h 31 at ct 31 P Pa Ry Hy 2 13 Jy J 12 11 1 1 4 l J Lou Nash 13 W I 1 Max Mex CI nt C.-nt 23 2 JJ 13 2311 Money nonty co closed ed 2 per Jer bid JI u IH t New Now York Feb ln 21 21 Tin was quiet but 7 71 hl higher Ii im I London clog clos ipg Ul ut itt J l pounds 55 s fo for spot and nd IS pounds 19 Gd Gl 1 fur futures rime Tho Now Nev spot pot price pice was vas 11 1105 At London copper wen went vent t off 2 e. e This closed spot at al JOI p pounds un l 12 Gd 6 and fu fu- fu turps at it 7 1 pounds unc New Nev York was firm ut Ht SG fo for Cor lake lako 1 j for electrolytic and amid 21 for Cor casting Lead was waR steady an and unchanged cd at nt 19 15 pounds l Jf JOn In London Jondon anti and spot Jol closed close 6 In New Nc York Spelter ruled firm and unchanged In while the thc New York market wits us firm but unchanged at tf nar anil Coffee CoUce New Ne York Feb Sugar raw steady l Fuir refIning 2 centrifugal 96 te test t 3 3 molasses Sl sugar ur 2 Refined Steady Crushed CW GW powder pow pow- der tiered d. d 4 granulated Sn or t e S No T 7 7 0 No 1 Groin LI Liverpool Fob 21 CIO ChOse H t- t March Murch arch 6 GS May Ia Cs la d d July Jul J Gs Cs In ln t today day WAS wis Iut I Si SC LouIs ooh St. St Louis Feb 21 Wool II Luis Wo Wool J lt T Hory and 01 western mediums 2 mediums ms tIne fine HOI Hal J tine Uno ooL Chicago o. o Feb 21 Wool Wool Utah un anti WOI quIet nH f 2 u I iu 0 I d liar S New ew York Ic Feb 1 fl nar I I r sl pr t li n r w l lic r hl ut nt ft hor G unchanged ec at G fh |