The daily morning journal and courier., 1905-09-27
STOCK MARKET FEATURES
OPENED WAVERINGLYAND THEN
 WORKED UPWARD.

Extensive-Anaeonda's Bigger DIvI-
 dend-Aetive Demand for Money at
 41z Per Cent.-The Money Question
 Still Quite Absorbing.
 The market opened doubtfully and hesitatingly, and then crept upward and acted as if it wanted to creep up more.
 The volume of business was not over powering, and it was chiefly of a pro- fessional character.
 Anaconda verified, to some extent, the bull talk circulated about the mine in the last few weeks by declaring an increased dividend. It declared a semi annual dividend of $1.25 per share. This is an increase from 75 cents The shares are s25 par. The increase in Anacon- da's dividend will held Amalgamated's treasury.
 From the character of the selling in Amalgamated Copper early in the day It looked as if Boston speculative inter- ,ests were trying to work out some stock Lawson sent out an infiamma- tory telegram on United Copper and coppers in general, so it was supposed that he was party to the decline. On the announcement of the news of Ana conda's increased dividend both that stock and Amalgamated had sharp rise.
 A factor in the stock market which exerted favorable influence was the reported extension of loans by a lead ing banking firm at per cent, when most others were trying to get A or more. This was regarded as indicating a desire to prevent marking up of rates.
 Railroad earnings continue to show up well. The August Atchison report showed gross gain of $522, 1000. Cana dian Pacific and Louisville and Nash vile gained materially last week. The Gould lines in the southwest, however Ere suffering from various causes and do not make such a good exhibit as do other roads.
 The so-called western clique again Iold good many stocks during the morning, but some support was noticed and there was later on moderate cover Ing of short contracts. The govern u1ent weekly crop report was very sat- sfactory as to corn.
 Wall street still devoted most of its lime discussing money market possibil- ties during the remainder of the week. There was, a generwal feeling among professional traders that call money would eventually get up to per cent. Bankers assured their friends that lothing very unusual would occur.
 The most active selling was by the Gates party. They offered Missouri Pacific, Union Pacific, Baltimore and Ohio and Pennsylvania. The best buy lng was credited to the Wormsers, the Seligmans and the Morgan interests.
 It is good witness 10 the success of }he restraining excesses in speculation )hus far that prices for the majority of important stocks stand to-day, despite heir vieissitudes in the interval with Il 9 fraction of where they stood two weeks ago.
 Missouri Pacific and Texas Pacific iost between them, for the second week If September, $185,OOO gross. The Den Ter and Rio Grande was another Gould road that made a better showing. Its increase was $54,000. Although no more gold was engaged ln London yesterday Wall street bank FITS continued their efforts to get the metal, and worked hard to secure the s5,000,000 that is now available in Aus jralia; and it looks as if they would be successful.
 The arrivals of foreign gold are hard ly keeping pace with the outflow of bank reserve money to the west. Since Saturdays bank return was compiled the banks have lost on balance mill lion dollars daily, and even this does not include direct remittances to inland banks. This would foreshadow loss of seven or eight millions cash in the next bank statement, unless the move nent slackens.
 Chicago Subway was again the sen sation of the curb market yesterday. It opened down to 67, a loss of points, and then declined still further to GAIA, which represents loss of 15% points from Saturdays closing price and IT points from Monday mornings quota tions.
 In 1902, 1903 and 1904 Anaconda's semi-annual dividend was 50 cents per share, while in 1901 the full years dis bursement was $3.25. Tn 1900 the half yearly dividends were $1.25 per share, with 75 cents additional.
 There was much activity among the local banks and trust companies in calling loans on their Wall street cus- toners. This was due to sudden in- crease in the demand for currency by interior banks. It was expected that later in the week more loans were call ed. However, it is now known that the syndicate payments in PennsyIvania. and Atchison have been arranged for, and that they are removed as a likely disturbing factor.