The daily morning journal and courier., 1905-11-29

rOads-ROck Island Had Support Railroad Shares Held Baek-r. c. I's GyratIons-Heavy Dealings Again.
 The market yesterday was a lively one again and over a million and half of shares were dealt in. including suspected wash cales.
 Lead common rose to B 1-2 and made a net gain for the day of about four points.
 Tennessee Coal rose to 129 and got back to 12S at the close. The stock was selling around 30 or So less than two years ago and nobody seemed to want it. Perhaps it will get back to 40 again.
 Shelters was reactionary to the ex- tent of two points. and all of these stocks, including Lead, finally declined freely under the pressure of proit-tak- ing and a withdrawal of support by the pool interests, Tennessee Coal los ing all of it's gain.
 It is the talk that the railroad list will be held back until it is seen what President Roosevelt has to say on the subject of railroad rates legislation.
 One thing that has favored the in- dustrials, and particularly the shares in which te most violent advances have occurred, is the relatively small amount of outstanding stock. In the ease of the United States Steel shares, where the volme is large, the move nsnts have been confined to very nar~ row limits. To a less extent this has been true of Amalgamated Copper with it's s155, 100000 stock. It sold at the highest price in a long time yester" dav co-incident with rise in copper metal to 1T 1-2 cents and prospective price of IS cents.
 The $7,000,0 000 order of the New York Central and an equal appropriation by the Northern Pacific for engines and cars had a direct effect in Locomotive common stock which rose point to 72 and lost 1t and then went higher.
 Within a very few days Tennessee Coal has risen thirty points, Sloss fif- teen and Republic Steel six. In the af- ternoon, when these stocks reacted somewhat, 1t was reported that there was a temporary mitch" in the deal. Such a story is an almost indispensa- bIe concomitant of a southern deal ru- rnor.
 The trading during the first hour was at the rate of 5OO,O0O shares an hour. The larger part of this consisted of Southern Steel and National Lead issue When these issues quieted down, the total sales dropped during the second hour to about one-half the amount of the first hour. The only other very active issues were Amalga~ mated Copper, St. Paul and Hartman stocks.
 In the closing dealings there was a notable withdrawal of bids for stocks The attempt to take profits on some of the industrial features found no mar kat or stocks. Railroad shares de- clfned with Union Pacific and nearly all of this group closed weak and with net losses.
 The movement in National Lead was attributed to manipulation by good judges.
 Rock Island shares evidently had some support yesterday, and it was claimed that the full dividend has been or will be earned and will be paid in January.
 A further rise of IA cent in the price of al grades of copper was used by big peope to take profits on Amagamated and other copper shares. During the cary art of the day Amalgamated ad- vanced only 1-2 point SSove closing price.
 Rights to the new $SO,OOOOOO bond is- sue of the New York, New Haven and Hartford road will accrue next Friday. The road will issue warrants to each stockholder of record designating just how many rights he possesses. The rights have fallen in price in the mar ket within the past few days and are now selling at 3-4 bid and 7-S asked. The long time payments and the finan- cial problem involved has not been ex- aetly figured up, but the main point is that the road borrows the $30, ,0O0 0OO at fairly low rate of interest.