The evening world., 1905-11-16
M4LNRET

THURSDAY, Nov, l6.
Things boiled and dubbed IN the
stock market to-day, For a while cy.
erybody stood around the bull keith,
and watched the soaring pieces. Trad.
ing was fast and furious, the leadinS
brokers ~eyincing a feve-.ah engemoss
to put stocks higher. Caution was
thrown to the winds. The drubhlng
that the bears gave the MARKET a few
days ago was forgotten and the foot
Of the Stock Exchange heatme the
scene OF a speculative carnival. SmOlt-
ers, Union Pacific and Readlus 10! the
procession and there was hustl, and
hurrath all along the line. New high
records were quickly made. while the
scope OF the trading became more and
more comprehensive. This was the
liveliest mIllion-share day that the
Sock Exchange has seen for meny a
week.
Conservative onlookers were sorely
puzzled. Only a day or two ago the
most powerful financial IntmNsts in
Wall stree, evinccd a dispuatlon to
hold back the bull movement ard check
speculation, Now the bulls rage more
rampantly than before, There is no
visible cause for the change. unless II
be that the influx Of money from out
OF town has broken the hsgh rate. can
loans were made during the forenoon
az y l-2 and I per cent, and LATER A
8 per cent. ale was quosed.
While the enthusiasm lasted smelt-
ers acted as II Its pool baolurs We're
trying to keep their promise to put I,
at 100 This stock started a fraction
above lR and jumped 10 l47 in oudck
leaps.
Trading In Union Pacific wa uncou.
monty heavy on steadily advancing
quotations, There was M purchase ~
1000 shares and another purchase NJ
1000 shares OF Union Pacific. tho
In each case having formerly
been aeavy sellers OF this stodOt. Prac-
.lcany all OF the Short interest In
ne leading stocks was wiped out. The
'~imultaHeous and apparently sympa
.heue activity in Tennessee Coal and
ron and sloss-Shefield stocks revived
stories OF consolidation.
discussing the money situation. John
'" GATES was quoted To-day as wins
nat there was an abundant SUNNY oS
ASH In New York, and the LANCER WINS
NAT There would be to- mach within
ne next few days in consequence ~
'e numerous shipments OF funds bers
non interior points.
d advance In United states stosI
.Hales was associated with the an
'ouncoment that the price OF steel
''uVes Is to be raised very soon. There
'iso were limitations thu, news of i'm
relating, to the steel Industry
you'd be forthcoming at the oonclusion
the Conference now 81 ing on In this
lty eetWeen the chief executive Off.
'ers Of the United Staaas Steel Cor
and the presidents OF all of
ne subsidiary companies, Most Of the
ninor steel stocks were particularly
80 mated to-day, Sloss-Sheffeld ad-
'ancing nearly 2 points and Tennessee
full point. Railway Steel Spring
tcEk has become OF the strongest
OF the market. There APP
to be q small coterle of operators
working In this stock, and they are
It up steadily day by day.
There are indications tirat the New
'ork Central management Is getting
eldy TO market 81, 10000 Of new stock.
his is the balance OF the So, 00.00 D Of
stock authorized about three
ago for terminal improvement
urposes. At that time the capital stock
I the New York Central and Hudson
Railroad was increased TO $780,
1900, but II was not deemed expedient
0 sell all OF the new stock at once.
he price Of New York Central ad-
anceH to-day In anticipation OF valua-
lie subscription rights In connection
nth this new stock. II this additional
took participates in the 5 per cent.
ivdend after Jan. /, the totlil amount !
eauired for dividend purposes for the
Will be $7,JO0,0OO. The present net
.rnings OF the company are consider
bly, in excess OF this requirement.
Standard Olls dividend OF $40 a share
r the last quarter OF this fiscal year
sects the heavy increase in this cor
/, rations business since the disastrous
! pr troubles in the Baku OF region OK
4 Sia. The burning OF the Russian
wells had added several millions OF
N ,rs to the Standard OILS income.
n Interesting compilation OF figures