The daily morning journal and courier., 1905-06-20
STOCK MARKET FEATURES
DULL AND NARROW BUT FIRM ss 4 AND STRONG.

Pennsy, U. F., Reading and SteeIs
 Hishcr-Diyidend Increases Talked
 Of-Cofton and Wheat Higher
 Dull Foreign Markets. The stock market was again very dull yesterday, but it was strong and vari- ous stocks closed higher:
 There seemed to be a tendency to lift prices.
 Lawson talk for to-day is expected to influence the market a little.
 Pennsylvania, Union Pacific and the Steel shares closed higher.
 Renewed talk of an increased divi- dend on Reading was heard. It is ex- pected to be at the rate of 4 per cent.
 There was talk also of an increased dividend on Norfolk and Western and Baltimore and Ohio, although it is quite awhile before Norfolk declares again.
 Foreign markets were very dull and were waiting for news about fighting in the east and about international complications. "
 With plenty of moisture and more warmth there was a good improvement made in crop prospects the past week. These conditions have made railway of- ffcials optimistic over the crop outlook The members of the stock exchange have petitioned to close Monday, July g., giving triple holiday.
 In the late trading Brooklyn Rapid Transit and Metropolitan Street Rail- way were the firm features, this appar- ently being a part of general plan to keep up interest. The local fractions can be put without difficulty, most any tirne-tTis being done even in the face Of the supreme court decision, uphold ing the franchise tax.
 Bonds were quite active again, though not in such large total as last week. The Japanese 4 1-2s, were heavy under as. There was evidently some profit taking in them t4 s,g~% s
 Western Union was strong and high- CT There was some investment buy ing of the stock as the quarterly divi- dend is on.
 The market was again waiting for Superintendent Hendricks report on the Equitable. and or conclusion of peace negotiations. The Hendricks re- port. it was stated, would not appear until the last of the week.
 The advances were largely the result of manipulation by the traders who op- erated on the basis Of a small specula- tive supply of stocks. Advantage was taken Of this condition to make as high $ a level as possible.
 A question of high interest is, wheth- CT or not the anticipated buying" !" rather familiar on the eve of the semi annual disbursements, is to be reckon ed on this season.
 Of Wisconsin Central it was said that there had been quiet buying which will eventually show in the entrance of the road into Chicago, in an alliance with the Canadian Pacific.
 Banking interests were thought to have taken some of the standard is- sues such as Union Pacific and Penn- sylvania yesterday. 7>,
 The delay in declaring the dividend on Ontario and Western is causing some selling by traders though no long stock comes out. as a 3 per cent. rate gives the stock the right to sell at better than 50. 4 a~
 Brokers on the floor advanced as a t'bull point that there were no stocks for sale on the rise.
 In an official circular the Chicago Great Western Railway company out lines the purpose for which it is pro- posed to use. the s14,o0o,OoO preferred B stock. It is to be exchanged for a like amount of per cent. non-c cumulative preferred stock of the Mason City and Fort Dodge Railroad company whose lines has been completed from junction with the main line of the Chicago Great Western at Oelwain, Ia., and at Hay 7 field, Minn., to Omaha.