The daily morning journal and courier., 1905-12-22
STOCK MARKET FEATURES
METROPOLITAN TAKES ON
 QUITE 4 BOOM.

Interest Also Centers in New York
 CentraI-U.. F.. Takes a Back Seat
 Less Trading-Can Money Scars
 AgaIn-Lehigh Valley Drops a Little
 Profit Taking in Evidence
 Yesterdays stock market was distin- guished by quite a sharp rise in Metro politan and the strength of New York Control. Union Pacific, on the other hand, was given rest.
 To the scrambling of the shorts much of the rise in Metropolitan was attrib- uted.
 The stiffness of money rates began to attract attention at last. Call money rose to 15 per cent. A big lot of money will have to be provided for poyment of January dividends.
 The transfer of $1,O00,000 by the sub treasury to Chicago reflected the fail ure there of the Walsh banks, though it means little as indicating stringency in the western cities. Money of these AAN New York has been called home to take care of the new situation.
 In Philadelphia Lehigh Valley was an early feature, and when it was found that the dividend rate was not increas- ed Wednesday there was big amount of stock for sale at the opening, which carried the stock down with a rush. The stock met some support at 7S12, off nearly points,
 Over in Europe there was anxiety over the fall in the price of Russian bonds to their lowest price since their creation; also over the menace of the great strike now on.
 Wall street received batch of tele- grams from Lawson endeavoring to att tract attention to himself by declaring that he might be compelled to assign. Little attention was paid to them.
 There was also evidence yesterday of profit-taking in advance of the holi- days.
 The sinister rumors about bank trou- bles in other cities were promulgated again, but their source was known and not much attention was given them.
 The traction group almost invariably has a spurt on the eve of a holiday, and many traders annually make their Christmas presents by buying them a few days in advance. There were sev- eral points in Brooklyn Rapid Transit, Metropolitan Street Railway and Inter borough.
 The repudiation of contracts entered into by the old management of the C., H. & D. leaves the bondholders in an uncertain position. The Az per cent. notes were lower.
 In Boston yesterday the market was soft in coppers under profit-taking until the last hour, when good rallies were made in leaders. The general tone was easier, but support was aggressive in few features, which held up the general list.
 The arbitrage sales by London this week so far have been about 125,00 shares, and selling orders predominated yesterday.
 Tennessee Coal was weak again yes terday, and it has a good ways to drop.
 At London Russian fours closed near ly per cent. above the St. Petersburg quotation. No doubt this wide discrep- ancy measures the heavy discount on Russian exchange.
 There was obvious distribution of Ama1garnateti and: Shelters yesterday. In Copper the selling was said to be in side selling.
 The future of the money market was regarded as problematical. After the rise in call rates yesterday leading bank came in with $5,00O,0O0, which it offered at per cent. This same sort of thing has occurred recently just be- fore call money took another flight. If did not have the reassuring effect which perhaps was desired.
 Stop orders were reached in profu- sion on Union Pacific's 2-point break.
 Chesapeake and Potomac Telephone stock seems begged at 51 bid and 60 asked.
 As to Metropolitan, the question all along has been whether the heavy de- felt, after paying the street railways dividend, is being met by Metropolitan Securities from it's own pocket, or is being paid out of the accumulated as- sets of the street railway. If this were known it would be possible to say what the prospect is for the stock; but it is not known except to the insiders. Erie stocks continue to be dead ones, as far as speculation is concerned.