The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-03
FINANCIAL GOSSIP

yWatson's New York office wired: The decisive
victory Of japan over Russia is most important
Expressed as to its Ultimate BENEFICIAL e effect on
securities, market will likely be one of some
uncertainty until the question Of amount Of in
demntty Japan will demand and where it is to
come from is gone into more thoroly. This lat
ter question is apt to be feature of considerable
financial comment. Our editorial and personal
opinions of people, acknowledged good judges
Of international affairs, are unanimous that Rus
tically annihilated. she could not continue the
war until new vessels were built even were there
not try to do So. therefore there cam be no
but tht is now assured and
character to- all interested in speculative and
Investment financial matters will be removed.
Henry 9. Frick is quoted as follows: Never
Of year. the indications exceed the most most sam:
New York to Whallon: The stock I transfer tax
restricts business and bear traders are ag.
gressiye; nevertheless. there is no abatement
17l NsM S XoTa Lewis The weakness Of the
ket It Is ascribed in some quarters to selling
i I'M BY the dissolution Of pools in the
Of hee is that the
interpreted or distorted for speculative effect
II oe connection M the with the bears maua
close touch with the steel and iron situation car
see nothing, in the latter to justify pessimisn
Piper from New York; 20 ne 7 Whie there is
little curiosity to know how much the stocS
tax will cut down business, the chances art
that such effect will be temporary. The sen
slble view is that given the right incentive.
the tax of So per 100 shares will not stoI
people from specializing. The most active mar
kets the Stock Exchange ever knew up to tina
period occurred while a similar tax, that O.
the Spanish war, was operative.
Edwards Wood, from New York: Gossip hal
1t that Reading will be placed on q per cen
basis at this months directors meeting It il
believed Erie second preferred will also paI
4 per cent The large decrease in net earn
1ngs reported by this company for April does
not lessen confidence in such outcome. 1t il
to be remembered that the Fries statement.
take no account of the earnings of the Penn
sylvanta Coal company, owned by the Erie, an(
which has done profitable business The Anal
gamated dividend next to be declared unles.
well-posted people are In error, will be at thu
rate Of per cent. Union Pacific and Baltimore
4 Ohio are said to be booked for increas,
to per cent. In all this there is a powerful
incentive. both for holders and intending BUYERS
New York to Lewis: Speculative common
reflects increasing confidence in the outlook Elk
perienced observers generally agree tonight tina
the characteristics of the stock market are
those which usually portend gradual improve
ment. There is no pressure to sell. Stocks ar,
scarce in brokers' Offices The drives of tn,
bears are no longer bringing liquidation. Briefly
the market has a sold-out look that bodies ii
for the very extensive short interest now out
standing. There is little doubt that curren
| buying of leading issues Is impelled largely b,
| the fact that important increases in dividend
! are expected to be ordered this summer.