The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-06
INCREASED DIVIDEND
EXPECTED ON COPPER
Chicago Great Western Conn
mon Is Being Quietly Alb
sorbed at % to Is

NEW YORK, Jan. 5.-There was little
NE LETT in the market today and the SEN
timent as expressed in the movement was
thoroughly uncertain. The fluctuations
We're constant and the level of the marked
shl1ted many times from an average high
er tnan last night to a lower one. Deal
ingS We're small and were attributed al
most altogether to professional sources
IL was the common remark that there
was no evidence of public participation in
the market. The expected january in
yestment demand failed to develop and the
Tear was thus engendered that whatever
buylng was to be expected on this account
naa peen included in the December move
ment, which was attributed at the time
TO demand from dealers for the purpose
or stocking up for the January investment
demand.
The feeble downward movements which
alternated with the Indifferent advances
We're supposed to be due to short selling
by traders to a large extent, such as is
the consequence almost invariably of a
dull and hating period in the buying of
stocks. There was some natural reaction
from the stimulation caused by the fall of
Fort Arthur and the Northern Securities
decision and the tone of the discussion
both here and abroad was much less hope
ful OF prompt peace as a result of the sur
render of Gen. Stoessel.
Rumors of Combinations
Rumors of prospective railroad combina-
tions and absorptions still attracted atten-
ton, and the admitted intention of Presi-
dent CaSSatt, of the Pennsylvania, to enter
the New Haven directory, and the gem
eral belief in additional representation for
the Standard Oil interest on the New York
Central directory, We're calculated to keep
alive this discussion. But there was less
confidence In the universal tendency of
these prospective changes to harmonic
the, railroad situation as whole and the
possibility was canvassed of new rivalries
being awakened instead. New Havens re-
cent extension of influence into the
Northern Trunk line field, if accepted as
having Pennsylvania inspiration would
suggest a shifting of the long established
balance in that field The possibility of
velopments tending to a similar outcome
may also be considered.
Some effect is produced on sentiment by
the rather censorious discussion of some
recent episodes in the making of bank
loans for stock market purposes, which
have come to light in the process of liqui-
dation. The criticism offered by the New
York state comptroller in his annual re-
port of some banking and trust company
methods are given additional force by such
occurrences.
Gold for Export
Further engagements of gold for export
added to the influence of that factor.
Money, however, continued extremely easy
and served as a safeguard against any
pressure upon the stock market. The gem
eral list was sustained also by number
of points of positive strength. Anal
gamated Copper had the benefit of a fur
Their advance in the price OF the metal.
The coalers responded to the reports of
excellent conditions in the anthracite
trade. This last group proved the main
stay of the market and 1t was the strong
advance in the Fries that made the clos
ing steady. Rumors of an early dividend
for Erie I'd preferred accompanied the
rise.
The bond market was very broad, but
the movement of prices somewhat irreg
United States bonds were all unchanged
on call.