The daily morning journal and courier., 1905-12-07
STOCK MARKET FEATURES
STRENGTH AND TIGOR DESPITE -. MONEY PRESSURE

Can Up to 22 Per Cent.--sterIins Was
 Very weak-And Secretary Shaw's
 Plan Came Out for a More Elastic
 CurTency-Strength of Low Priced
 stoeks-Low Priced Industrials
 Pressed for Sale.
 Some call loans were made yesterday at 1s per cent. and money got up to 22 per cent. before the close. but still the market was merry with strength apparent in many stocks.
 There was a slight reaction finally late in the afternoon.
 It was notable that call money ran up to such a giddy height in the day, when Secretary Shaw came out with his new plan for providing a more elastic currency. Mir. Shaw's idea is to regulate rates by an issue of addition al government secured currency, equal to 50 per cent. of the bond secured cur rency, but subject to tax of or 6 per cent. The currency would not be sought until money rates approximated the amount of the tax. The secretary believes that this scheme would pro hibit higher than 10 per cent. money. The plan is in operation in Germany with good results.
 Call money ranged between 10 per cent. and 20 all day, with continued loss of cash to the Sub-Treasury and with small returns from the interior through private channels, bankers gen. erally predicted a poor statement on Saturday.
 Some New York bankers see no req son why call money should be 20 per cent. here and only and per cent. in the interior. The result is, the interior and foreign bankers are suspicious. and claim that New York repreents the speculative and not the legitimate moneyed demand. The instability has created bad impression.
 New York bank officers expressed very favorable views to-day regarding the Secretary of the Treasury's plan for the issue of additional currency in times of monetary stringency.
 Despite the splendid report of Union < ebGtllS IL e@S Gf4oClL l4Aebl PAOAAAA4AC4A6 Interests were not trying to advance the stock.
 Low-priced industrials were pressed fer sale all day. This was facilitated by the running up of particular ones while others were being distributed. Amalgamated Copper, Anaconda Cop per and various low-priced manufac- turing shares were among the firmest. The copper group was benefited by a further rise in this metal.
 There was an abrupt decline in the fractions, with Metropolitan off about , points, following the Apellate court decision favoring Hearst.
 Brooklyn Rapid Transit broke from r 3-s to SS within ten minutes, during lhe last half-hour on very heavy trad hlg. Undoubtedly large profits were saken at that time.
 The money situation still dominates the market, and 1t will continue to do So until about the middle of January.
 Such low priced stocks ac Colorado Southern, Denver & Rio Grande, Kan sas City Southern, Kansas & Texas and Wheeling & Lake Erie were ad- vanced with aggressive bidding from i to 1-2 points on rather iir.Mted tram sactions. and with not nFuch evidence of outside buying of some of them.
 The rise in Tennessee Coal and Iron to 130, new high record, was founded on the stories that control of the prop erty had passed from the Woodward interests to people identified with the proposed Southern iron merger.
 The buying of Denver common is based on the fact, as claimed, that the stock is earning about per cent, and that 1t will get great benefits in 8 few years from the Western Pacific of which the Denver & Rio Grande holds $50, ,000,000 of the total $75,000,00O
 BASKET BALL Y. M. c. A.
 Delphi team: Joe McCuen, James Cahill, Charles Bowman, Wells Wilson, Lsadore Lehman, Fred Euerle, salo. Tore.
 Mohegan team: George Billed, August Hess, Edward Jones' Oscar Keller, P. Smith, Robert Collett, H. O'Neill.
 Mohegans defeated Delphi by score of 10 to 1. Cahill played 8 very fast game for the Delphfs while Jones made several brilliant plays for Mohegans.