The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1905-03-09
STOCK MARKET FEATURES
LABOR TROUBLES AND N. S. DE-
CISION UNFELT.

Market Simply Dull but Strong-Con-
sidered to be a Waiting Market
Bulls Claim They VIII Take Hold
Again BY and BY.
The market was simply dull and
strong yesterday and the subway strike
and the Northern Pacific decision have
made no impression of any account.
One reason given for the apathy over
the N. P. decision is that it came when
various of the magnates were away and
so the street had to put its own con-
struction in the matter. @s4t3 +
The action of the Pennsylvania direc-
tors in voting to spend $31,00O,0OO dur
ing the current year for improvements
was regarded as indicating confidence
on the part of that important corpora
tion in the business outlook. Pennsyl-
vania stock was inclined to heaviness,
though rallying somewhat. New Sc
curity issues do not now create bullish-
ness. #....
Many are disposed to wait and see
how the cat is going to jump, because
the market acts as if it was tired.
Boston is still reported to be bullish
on Amalgamated. Anaconda was alive
yesterday and rose 8 points, to 112, on
10000 shares, par $25 each. Amalgamat-
ed acted strong. 1t looked, however, as
If this move in the copper stocks was in
order to keep things going. @
Shelters common sold at "a, a new
high mark, and there was talk that the
dividend would be increased at the
meeting which occurs soon. The stock
is believed to be discounting a s per
cent. rate. {,ls@l =
Strong interests are reported as about
to enter the directorate of North Amer
lean. Good use, it lis claimed, will be
made of the new capital to be put in.
Norfolk and Western sold at the best
price on record during the movement
based en- the prevailing expectation of a
higher dividend in the spring.
Many Wall street people are inclined
to regard the strong showing made by
Metropolitan Street as having a basis
in which important and legitimate con
siderations figure quite largely, and not
in any way due to the increase of BUSH
ness owing to the subway strike.
A sensational rise in Delaware, Lack
awanna and Western to 1863, as against
a previous high record of 800, and sales
at 355 Tuesday, attracted considerable
attention. 1t was unexplained, but it
was generally regarded as manipulated
for the purpose Of steadying the re-
mainder of the list, which was inclined
to heaviness. Delaware and Hudson
was similarly strong.
1t is again urged in Wall street that
Southern Pacific is steadily working to-
wards becoming a dividend-payer, and
standard one at that.
Wabash debentures were quite active
and strong and took the place recently
held in the Gould group by Missouri
Pacific and Texas Pacific.
The promised demonstration in Kan
sas City Southern is said to be only
sidetracked for awhile.
The directors of the Copper Range
4 Consolidated company yesterday de-
clared an initial dividend Of 81 per
share. -s<z@ >.~. .
The decrease Of $144,S76 in Western
Unions surplus for the March quarter
had no effect on the stock, which is
closely held.
The market letter Of Bartlett, Frazier
& Darlington is representative of the
trend of conservative comment on the
outlook. It says: ANY analysis of the
market in the light of a knowledge of
Z the feelings of some of the more prom
\ inent interests identified with it COM
4 pels the deduction that, temporarily at
h least, the market will be a waiting one,
n although not necessarily weak.
x The future is bright enough, but the
N date when the advance, lin prices will be
N resumed cannot be easily pointed out at
n the present time."
The amount of cash released by the
h payment of dividends on the stocks of
n Great Northern and Northern Pacific
I which have been held up for twelve
4 months is about $19,O0O,0O0. The divi-
dends are as follows: per cent. ON
n S153, 750,640 Northern Pacific, $40, 1852, 544;
Y Z per cent. ON Sis, 124,20O Great North
n ern, $S,26S, 7O9 Total, S19,031,253. These
N dividends will be released on the dis
II tribution of the Northern Securities
N assets.