The Saint Paul globe., 1905-01-19
THE COMMON SHOOTS
Up ) FULL POINTS
Pools Liquidate Under Cover of
the Advance in Reading
Market Firm

Az NEW YORK, Jan. 1S.-The volume ot
ene stock market expanded TO-DAY nj G
se,,ie se,,Sa 9a the movements were excited and
more oo,,al 'oo,lai, out the activity was even
=; .otS ~, conSested than the recent tendency
IL III alat direction, and the general level If
paes t,as.tos.,s was not much more benefited than
fstetday. fhst tha In Other words, it was clear
vantage of the stimulating effects of fba
eAclleo advance to sell stocks in o+bar
quarters qua .s = OF the market 1t might also be
,or,,,o o nea.dlng mat 5000 shares was the
frnc,,l ,,ai unit OF the transactions in it. SO
frequent was the appearance Of < mn
snare lots on the tape 'o0
Reading Issues
Inc total outstanding issue of Reading
common stock amounts to ]. 400 000 sbarass
to,is - Known known that a large part of these
nave been taken out of the market and
distributed to different railroad corr
pahles TO insure the balance of control of
tn stnIs property, although the controlling in
terest Is believed to depend more on pre-
Ierred stock holdings than on the common
But Reading has often given evidence Of
Ine large reduction of its floating supnlv
odies Tor single day of sic, 100 shares,
Whlch was the total reached today, may
De safely assumed to represent a large
proportion of matched orders and manin1I-
iative transactions Probably the mani
rest character of the operations accounted
for their lack of effective influence on the
general list.
The entire lack of news to account for
the movement, and the high level to
which the price had already been lifted.
considering the dividend return helped to
peget dlstrust for the movement and
tears for the maintenance of the price
level The movement in Ontario & West
ern especially, and in the other coalers to
a lesser degree, was supposed to be sym
pathetic and was equally without ex-
planation in the news of the day. The
news was not lacking in favorable factors
but did not apply especially to the stocks
which moved most widely.
Illinois Central Dividend
The action of the conservative Illinois
Central directors. in declaring an extra
dividend on their stock, went far to con-
cent increases in dividend disbursements
as showing the confidence of railroad
managers in the future prosperity of their
properties The resulting revival of divi
dend hopes was perceptible in the move
ments in Baltimore & Ohio, Kansas &
Texas preferred, Chesapeake & Ohio,
Smelling, and perhaps in some other
stocks. The announcement of the settle
ment of the Fall River strike was receiv-
ed with qualification, as serving to clear
up the situation in one of the few indus
trade expansion. The absorption of two
minor railroads which have been within
its sphere of influence by the New York
Central. gave some early strength to that
stock. The whole list gave way, how
ever, with some violence during the last
hour, when the suspicious engendered by
the character of the days trading had
come to head.
The falling off of upwards of s4S 900, 900
in the trade balance in our favor for De-
cember, due both to increased imports
and the heavy decline in exports, was not
regarded as a cheerful showing and gave
promise of the continued ability of the
worlds outside markets to draw on our
gold supply. The market rallied with
considerable force in the final dealings.
led by Baltimore & Ohio with a rise of
1%, and the closing was quite strong, but
only fraction generally above the low
est.
sales, par value, $6,5OO,OOO United
states new As declined Is per cent on call.