The daily morning journal and courier., 1905-12-23
STOCK MARKET FEATURES
MUCH STRENGTH SHOWN WITH
 MET IN THE LEAD.

The Transfer of the Ryan Holdings to BeImont--Bun Talk on InterborOugh Loan Crowd Eager for Stocks Central Leather's Good Earnings-
 To-day's Bank Statement.
 Yesterdays market was a strong one with nine fireworks in Metropoli- tan and B. R. T. active also.
 Met. rose to 13O 1-2 and before the close slipped back a couple of points. After it was officially announced that MT, Belmont had bought the Ryan hold ings of Metropolitan Street Railway and Metropolitan Securities, the sensa- tional rise in the various issues having temporarily subsided, it was evident that a great deal of profit taking was in progress. This carried prices down somewhat. Then it was that people began to inquire just what Mir Bel mont had bought, and whether it really constituted a majority of the stocks in question. There was a division of Opin- ion as to this, one view was that Bel mont had been picking up the stock ever since it's last drop to IA.
 Last year when Met fell off to 1G6 S-4 the street argued that the stock was on the road to a per cent. basis, de- spite the guarantee. Now Wall street talk Is the other way.
 Metropolitan Securities broke out with 80 1-2 a gain of 3-4 points over night, and by the middle of the session had seen 86 1.2, or il points above the price made at one time Thursday. It was then f1uctuating wildly, sales at S6 IA, S6 3-S, S6 1-2, being followed by others at 86 Is, S6 and then 85 1-2, all within a yard of tape. Here, too, was said to be good buying. that is, the hands of Manson & Co. and Ha1sted & Hodges claiming attention. H. Content was G-Eso heavy buyer, and Hausman & Co.,, Wren Bros. and G. Mingesheimer & Co. too the stock. Those who spoke of the calling of the 50 per cent. on Metropolitan Securities were told it would help the stock if that were to take place, but that there was so like lihood of anything of the kind happen ing.
 Taking the view that the impending holidays and the large January dis Tbursements will put further strain on the money market, 1t is the opinion of Dick Bros. & Go. that stocks are quite likely to be irregular and feverish. They do not look for any important general movement in one direction or the other for the time being.
 The stiffness of money was again a speculative check, as was also the mixed predictions as to to-days bank statement.
 James R. Keene, 1t is stated, Is a bull on the market.
 Bull talk was heard on Tnterborough to the effect that 1t was now bound for 200.
 The United States Steel corporation has purchased a one-half interest in what is known as the Walker tract of ore land at the western end of the Mesaba range. The tract contains be- tween 4O,0o000O and 50,000,00O tons of low grade ore.
 The bulls this year, from indications are not to pay for the Christmas pres ents of the bears, as is usually the case.
 There was a good demand for stocks in the stock loan crowd yesterday morning for Erie 1st pf, Norfolk and Western, Reading list pf, Rock Island pf., St. Paul and Union Pacific com- mon
 Union Pacific was strong issue ir the late trading. It reached 149 1-2, a new high figure, shortly before tive o'clock. The previous high price was 149 3-S. Southern Pacific was run UT at midday on the shorts St. Paul was firm nearly all day; as also was Penn sylvania- These movements seemed tc indicate an intention to close the mark ct firm at the end of the week.
 A Wall street house estimates that the Central Leather company has earn. ed in the past year about three-quar. ters of a million dollars more than is necessary to pay the dividend on the preferred stock, without counting the net earnings of it's subsidiary compan.