The daily morning journal and courier., 1905-12-13
STOCK MARKET FEATURES
ITWAS 4 TARIEGATED STATE OF
 AFFAIRS.

Some Stocks Weak, Others Strong Interest Shifted Again to the Indus trfaIs-s"Tips" Ardently Followed Money a Little Easier--EurOpe Buyer-U. S. steeps Activity. The stock market took new courage yesterday early in the ga e. as money conditions looked easier. The standard railroad shares, like U. F., were ad- vanced, but after a while interest centered again in the industriaIs.
 U. S. Steel pf., Shelters and T. C. l. made new high records.
 Twelve per cent. was the highest rate for-ca1 money yesterday, and from that the price declined.
 The treasury department action in anticipating interest payments and the flowing in of money from the interior helped speculation.
 The foreign outlook was trifle bet ter, and Russian bonds declined only fractionally.
 Union Pacific looked heavy compared with it's residence on Monday. There was, however, a good quality of buy ing in the stock. It was whispered that this stock was going to 200 and Shelters ditto.
 The showing of U. P.'s annual report expectation that the dividend will be raised to a 6 per cent basis and that there may be distribution of Northern Securities assets made the foundation for the "upwardness'' of the stock.
 Perhaps the most interesting event of the day, abroad, was the news from Berlin that the Russian government was exporting gold to pay the accuring coupons on it's debt.
 U. s. Steefs pf.'s new high mark was 106
 Directors of the Crucible Steel com pany yesterday declared a dividend of 1 per cent. on the preferred stock, the first since December, 1903. The shares are per cent. cumulative. .,
 The comparative slowness of the rise in the general stock market, with num- erous setbacks, gave general satisfac- tion. This was taken to mean that banking interests do not want lover
  mid toppling over soon.
 The arbitrage business was larger yesterday than it has been in weeks. Fully 75,000 shares were dealt in and of this 50,000 were purchases. In United States Steel 30,0O0 shares were pur- chased. Union Pacific and Southern Pacific were realized on, but Reading Missouri Pacific and all of the coppers were in demand.
 One firm took 10000 shares of United States Steel stocks, alleged to be for Philadelphia account. This was ac- companied by reports that the earnings for the last quarter of the year would be fully $345OO,000, making about $120,- 100000 for the calendar year. A feat ure of the trading in the common was the enormous amounts which were talk en at the same price.
 The rise in Missouri Pacific above 103 was based on the winter wheat crop report. and the feeling that the stock was behind the rest of the market. Pool brokers sell the stock on the advance. Little attention was paid to anything in the situation except the fact that ''tips" given out on highly speculative StockS were subsequently made good.
 SWEETS TO BUY OUT RIVALS?
 Chicago, Dec. 12.-Swift & Co.,, &C., cording to a report emanating from 8 usually reliable source, have nearly completed negotiations to acquire the properties of the SchwarzschiId & sulz- berger and the National Packing company and to absorb absolutely the John P. squires & Co.,, of Cambridge, Mass, and the Swift Transportation company.
 It was for this purpose. it is asserted, that an increase of $25,0OOO0O in the capital stock of Swift & Co. was re- quested last Monday, when a circular was sent to stockholders notifying them that they would be asked to authorize the increase at the next annual meet